BUCHAREST, Romania, May 7, 2024 (Globe Newswire) — Internet of Things (IoT) technology is becoming increasingly attractive and accessible to businesses. The growing interest in IoT applications is evidenced by the evolution of the global market. According to estimates by Fortune Business Insights, its value is expected to increase at an average annual growth rate from 714.5 billion US dollars in 2024 to over 4.62 trillion US dollars in 2032. (CAGR) 24.3%.
One of the main benefits of IoT is its integration with business and operational processes, which allows companies to collect and analyze large amounts of data from various sources, enhancing decision-making processes. For example, integrating his IoT devices in a company's warehouse with an enterprise resource planning (ERP) system allows for real-time monitoring of inventory levels. The insights gained help eliminate the risk of production disruption and optimize supply chain planning.
IoT sensors can also be used to monitor machine operating parameters to detect early signs of potential failure. This not only facilitates the transition from a reactive repair system to a predictive maintenance system, but also delivers tangible savings by preventing failures and eliminating downtime.
However, along with the benefits, IoT technology also brings unique challenges, such as security risks and integration and scaling issues. “Integrating an IoT network with the IT systems of an organization or operational environment increases the complexity and vulnerability of the resulting infrastructure,” explains Carmen Kolcsar, his CTO at rinf.tech. Masu. “For example, last year the volume of attacks against IoT devices increased by 400%. To prevent such incidents and achieve maximum return on investment, rinf.tech recommends a phased approach to our clients. Initially, we help businesses define their attacks, distilling the business needs and goals they want to achieve through IoT deployment, translating them into technical requirements, and adapting them based on an analysis of their existing infrastructure. Identify the most suitable solution. Perform the integration with the client, perform a testing and validation project, and if the results are as expected, proceed with the actual implementation and integration of the system, introduce automation and analysis components, and Ensure compliance with security requirements and specific industry norms and standards. The final step is to fine-tune configuration and operational parameters to ensure the integrated infrastructure delivers the expected results.”
Integrating IoT into business processes and operational environments is a complex process with multiple challenges and requires careful planning and execution. But it can quickly provide solid benefits that turn into a major competitive advantage.
Rinf Outsourcing Solutions SRL, Str. Gala Herastrau, Nr. 4C, Cladirea B, Green Court Bucuresti, etc. 3, Section 2, www.rinf.tech
Contact person: Viktor Bogdanov, Head of Marketing/PR, marketing@rinf.tech
