The Internet of Things and solutions offered within this framework become more widespread by the day thanks to the proliferation of devices with internet connection and access to internet networks even in remote areas. In 2015 1 billion devices with internet connection will be delivered, increasing the total number of devices with internet connection in the market to 2.8 billion. It is estimated that the total value of equipments developed for such devices will reach approximately 10 billion Dollars while the total value of services related to these devices will be 70 billion Dollars According to Gartner the Internet of Things will involve 26 billion devices and provide 1.9 trillion Dollars of value added to the global economy by the year 2020. Nearly 75 % of executives who took part in a recent survey have stated that they were either exploring or already using solutions involving the Internet of Things. Executives believe that integrating the Internet of Things into business is necessary to remain competitive. HOW TO INTEGRATE THE INTERNET OF THINGS INTO BUSINESS STRATEGIES TO CREATE VALUE ADDED? In addition to cost reduction and risk management, Internet of Things service providers must focus on revenue increase and innovation too Products and services must be redesigned to meet consumer expectations by analyzing the data derived from online devices Security must be improved to be preventive and to respond quickly Transparency of data security must be given priority in order to establish consumer confidence HOW INSTITUTIONS BENEFIT FROM THE INTERNET OF THINGS? An analysis of the 89 applications developed by 20 Internet of Things service providers between 2009 and 2013 yields the following results: ✔ 65% of applications aimed at cost reduction and efficiency. ✔ 22% of applications focused on risk management. ✔ Only 13% of applications targeted revenue increase and innovation. THE MOST IMPORTANT OBSTACLES TO THE INTERNET OF THINGS: For consumers: Security and privacy For institutions: Compared to its risks, the economic return provided by the Internet of Things applications are uncertain WHY INSTITUTIONS ARE MORE INTERESTED IN THE INTERNET OF THINGS? From the consumer point of view, the Internet of Things can only offer partial solutions to the operation at hand. In other words, the majority of the processes still require the involvement of the end user. The cost generated by online devices can be high for the consumer. Technological specifications of the Internet of Things can be too advanced and unnecessary for some consumers. Many consumers are not interested in data analysis and customization options provided by the Internet of Things and devices with internet connection.