# LISTEN: Security and costs holding back those looking to implement IoT projects

By Industrial Iot · Published 2017-12-14 · Updated 2026-07-23 · Industrial IoT on MarketScale
Canonical: https://www.marketscale.com/industries/industrial-iot/listen-security-costs-holding-back-looking-implement-iot-projects

> Internet of Things, or IoT, is what most companies are starting to implement but what is it and how safe is it? IoT, to put it simply, is the ability of things to communicate and share data with each other. Basically, your smart refrigerator can connect to that bracelet on your wrist that tracks…

## Key points

- Security and cost are the primary barriers to IoT implementation.
- 94% of IT professionals embrace IoT to stay competitive.
- IoT can lead to better business efficiency, lower costs, and higher customer satisfaction.

Internet of Things, or IoT, is what most companies are starting to implement but what is it and how safe is it? IoT, to put it simply, is the ability of things to communicate and share data with each other. Basically, your smart refrigerator can connect to that bracelet on your wrist that tracks your steps and share data. With that said, companies want to implement iot with certain projects and stay ahead of the curve of improving productivity with more precise data collected. 94% of IT

professionals from organizations are embracing (IoT) initiatives to stay competitive, but most have admitted to having encountered barriers according to research carried out by Vanson Bourne and reported by helpnetsecurity.com. The main two barriers are security and cost. The overhaul of changing out equipment to meet these standards can be expensive so that’s understandable. With advancement of hacks that happen within todays time, security is a valuable concern. Updates constantly being added to all of technology can cause the iot to replace in a matter of days and, once again, to be costly and have the security vulnerable. It’s not all frightening, the research also found that the benefits of IoT cite better business efficiency at 54%, 45% have seen lower costs and 41% higher customer satisfaction. IoT’s may seem scary but these show a positive direction in the technological age.

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