From smart factories, smart homes to smart cities and driverless cars, almost every aspect of life and business are experiencing a connected reality in the digital age due to the Internet of Things (IoT). For companies introducing IoT allows them to explore new methods of monitoring and managing objects in the physical world while generating data streams that foster smarter decision-making avenues.

Despite the promise and strategic importance of IoT, leveraging the power of the technology effectively and manage it well is far from simple. This reality of the growing number of devices, sensors, data, and data sources is also threatened continuously by connectivity, power, security, and integration challenges.

This is why businesses that place big IoT bets often end up without compelling value propositions and monetizable models.