Future and Challenges of Internet of Things

The world is moving forward at a fast pace, and the credit goes to ever growing technology. One such concept is IOT (Internet of things) with which automation is no longer a virtual reality. IOT connects various non-living objects through the internet and enables them to share information with their community network to automate processes for humans and makes their lives easier. The paper presents the future challenges of IoT, such as the technical (connectivity, compatibility and longevity, standards, intelligent analysis and actions, security), business (investment, modest revenue model etc.), societal (changing demands , new devices, expense, customer confidence etc.) and legal challenges (laws, regulations, procedures, policies etc). A section also discusses the various myths that might hamper the progress of IOT, security of data being the most critical factor of all. An optimistic approach to people in adopting the unfolding changes brought by IOT will also help in its growth.