IoT Challenges and Opportunities in Malaysia’s Digital Economy

The Internet of Things (IoT) is a key driver of economic digitization processes that hold great potential for the growth of businesses, innovation, and competitiveness. This area of research aims to evaluate how IoT can be relevant in enhancing the growth of the digital economy in Malaysia, with a view to identifying the chances it has which hitches are slowing its progress. Nevertheless, there are significant barriers in any country over the globe that constrain the implementation of IoT, which include Infrastructure, Cybersecurity, Policy, and Digital division. Thus, exploiting the results of this study to reveal new opportunities and investigate possible solutions to the challenges identified in this context is intended to contribute to the definition of the guidelines for the competent management of IoT technologies by policymakers and industry stakeholders. The study highlights the call for proper strategic funding, proper security measures, and an appropriate policy that will help to overcome the challenges to allow IoT technology to actively participate in the advancement of the digital economy of Malaysia.