Challenges for SMEs entering the IoT world

Assessment of ICT policies for digital transformation in Colombia: technology readiness for IoT adoption in SMEs in the trading sector

“…Regarding the adoption of IoT solutions in SMEs, the execution of IoT projects involves the need to understand the IoT ecosystem, the definition of IoT-related business objectives, setting the business strategy, the deployment of technological infrastructure, the acquisition of cloud technologies, hiring and training staff, hiring external IoT providers and concerns related to security vulnerabilities (Gartner, 2017a, 2020; Nylander et al , 2017). According to Lee and Lee (2015), the essential IoT technologies for deploying successful IoT solutions in enterprises are RFID, WSN, middleware, cloud computing and IoT applications software.…”

“…Abazi (2016) explained the process and benefits of digital transformation by adopting IoT solutions in SMEs, mentioning the importance of updating employees’ knowledge about IoT. Nylander et al (2017) presented the challenges that SMEs face to understand and succeed in the IoT world. Shin (2017) studied critical elements and characteristics of SMEs in South Korea to enter the IoT industry.…”

“…As the digital world evolves, SMEs have managed to appropriate digital technologies. In some cases, they have taken the risk and ventured into adopting IoT solutions enabling pervasive computing scenarios (Atzori et al , 2010; Carcary et al , 2018) and creating IoT-based products and services (Forsstrom et al , 2020; Nylander et al , 2017). Based on SMEs’ importance for the countries’ economic growth as they contribute to job creation and global economic development, governments should direct their public policies to aid SMEs’ technology readiness (Organisation for Economic Co-operation and Development, 2017, 2019a; The World Bank, 2020).…”

Technological Variables for Decision-making IoT Adoption in Small and Medium Enterprises

“…The author identified two aspects required for IoT adoption in SMEs: Infrastructure (related to Internet access, network technologies, network speed, and quality), and Regulation (policies that favor the digital transformation of organizations, for example, funding, financial support, subsidies) (Abazi, 2016). Nylander et al (2017) presented a case study about a company that developed a connected product without competencies in the Internet of Things. The authors carried out multidisciplinary research (collaboration between computer science, business model research, and product development research), indicating that the organization must initially acquire technical skills to deploy Internet of Things solutions.…”

“…The authors carried out multidisciplinary research (collaboration between computer science, business model research, and product development research), indicating that the organization must initially acquire technical skills to deploy Internet of Things solutions. Besides, R&D activities in the IoT domain are necessary to address challenges related to standards, interoperability, and security (Nylander, Wallberg and Hansson, 2017). Shin (2017) presented an exploratory study of Innovative Korean IoT-SMEs, analyzing the definition of the Internet of Things and policy implications.…”