The Internet of Things: The Revolution of Tomorrow or the Overrated Technology of Today?

Purpose: To analyze problematic aspects related with the practical approaches of Internet of Things (IoT). Design/methodology/approach: The article discusses problematic issues related with the IoT from various angles. The debates concerning IoT and its possible application fields continue for more than ten years. While the technological framework is created there are many challenges in the field concerning technological, legal and social perspectives. In this article we analyze the application issues related with the IoT. The topic is examined by different authors from narrow views thus lacking the big picture of global technology potential. The objectives of this paper are to overview and analyze the holistic approach towards the application fields of IoT in order to highlight strengths and weaknesses which come with the technology. Theoretical findings: The necessity for web-based services is increasing along with the technological gadgets which support them. Applying things, which are connected in networks, could revolutionize many industry and service sectors thus creating new service provisions and administration methods based on information technology. Practical cases show that the applicability potential for IoT is wide; however, standardization, legal regulation and usability problems approach while the IoT solutions are advancing technologically and its potential market share increases. These issues should be taken into consideration while seeking for better balance among different sectors where the impact of IoT will be most significant. Research limitations/implications – There are few comprehensive studies and projects which emphasize on benefits of IoT. Despite that, the usage of the technology will have its negative effects. It is only the matter of time when next generation networks will create systems which may be too sluggish for effective maintenance or architectural changes. Moreover, the area for application of IoT is so wide that the threats are hard to identify. Because of that it is possible to review the topics only focusing on narrow, but most comprehensively analyzed spectrum of problematic issues. Practical implications – Theoretical framework for future research in the field was developed.