Companies often face these challenges when attempting to become involved in IoT. Those that have entered the market have either found their way around these barriers or are currently dealing with them.
Uncertainty: How will the price change as IoT reaches economies of scale? Will it ever become the norm as smartphones have? As the Internet of Things continues to grow and develop, there is overall uncertainty about how far the industry will expand.
Development: While this industry is indeed growing rapidly, the IoT is still an unfinished idea, if you will. There is continuous updating and growth that can be done, allowing the devices to work even more efficiently.
Poor Communication Skills: As we become more technologically dependent, human interaction skills will decrease. For example, instead of asking to turn the heat up, you will just do it on your smartphone.
Privacy/Security: One of the main issues that people may have when investing in the Internet of Things is the privacy risk. Yes, more information is available to the user, but this also means it will be harder to keep this info away from unauthorized users.
The Internet of Things 