International Journal For Multidisciplinary Research

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The Internet of Things (IoT): Applications, Investments, and Challenges for Enterprises

Author(s) Md Nadil Khan, Tanvirahmedshuvo, Md Risalat Hossain Ontor, Nahid Khan, Ashequr Rahman
Country United States
Abstract The rise of the Internet of Things (IoT) has triggered changes, in industries offering improved efficiency data informed decision making and fresh business models. This document explores the world of IoT looking into its uses investment prospects and obstacles faced by businesses. By conducting a review of existing literature, we shed light on the state of IoT technologies by analyzing recent studies and publications. Our approach involves an examination of trends in adoption strategies for evaluating investments and the main challenges encountered during IoT implementation. We delve into the range of applications for IoT in sectors like retail, manufacturing and healthcare spotlighting technologies and successful case studies. Additionally, we evaluate investment opportunities in technologies by comparing methods such as Net Present Value (NPV) and Real Option Approach to assess investments. The document also addresses hurdles related to data management issues, privacy risks, security vulnerabilities and the complexities of interconnected networks. We wrap up with a summary of insights from our research findings along with recommendations, for enterprises looking to navigate the evolving landscape of IoT.
Keywords Internet of Things (IoT), IoT applications, Investment evaluation, Real option approach, Data management, Privacy concerns, Security vulnerabilities, Enterprise challenges, IoT adoption trends, Technological innovation
Field Engineering
Published In Volume 6, Issue 1, January-February 2024
Published On 2024-02-24
Cite This The Internet of Things (IoT): Applications, Investments, and Challenges for Enterprises - Md Nadil Khan, Tanvirahmedshuvo, Md Risalat Hossain Ontor, Nahid Khan, Ashequr Rahman - IJFMR Volume 6, Issue 1, January-February 2024. DOI 10.36948/ijfmr.2024.v06i01.22699
DOI https://doi.org/10.36948/ijfmr.2024.v06i01.22699
Short DOI https://doi.org/gzwpkz
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