Internet of Things Delivers Powerful Value, But Privacy, Security Issues Loom

25 August 2015

It is difficult to overestimate the impact the Internet of Things (IoT) will have over the next few years — from the Connected Home to Smart Cities and even automobiles.  The biggest threat the industry faces, however, is the emergence of sophisticated network and data threats.

While harnessing the power of IoT technology can yield a powerful return on investment, organizations must be proactive in identifying and remediating data breach and privacy threats. Enterprises also need to ensure network security of connected devices.

Read full article

It is difficult to overestimate the impact the Internet of Things (IoT) will have over the next few years — from the Connected Home to Smart Cities and even automobiles.  The biggest threat the industry faces, however, is the emergence of sophisticated network and data threats.

While harnessing the power of IoT technology can yield a powerful return on investment, organizations must be proactive in identifying and remediating data breach and privacy threats. Enterprises also need to ensure network security of connected devices.

Beyond the Connected Home, IoT Creates Challenges and Opportunities for Smart Cars

 

Juniper Research

Juniper Research

A new Juniper Research report forecasts the number of IoT (Internet of Things) connected devices will number 38.5 billion in 2020 — up from just 13.4 billion devices this year. The growth in IoT devices will increase by 285 percent up from 13.4 billion in 2015.  Although so-called “smart home’ based applications grab media headlines, Juniper says the industrial and public services sector – retail, agriculture, smart buildings and smart grid applications – will form the majority of the device base.

Subscribe today…

don’t get left out of our news and analysis

Subscribe

The Internet of Things (IoT) security market is expected to grow at a combined annual growth rate (CAGR) of 55 percent  by 2019, according to a new report from ReportsnReports.com. Companies are required to comply with regulations set by government, or else potentially be hit with a heavy penalty. IoT security solutions comprise hardware, software, and managed security services to monitor, detect, and prevent unauthorized access, misuse, or malfunction, or to disable/destroy a computer network. This provides end-users with a secure platform that will help them perform critical tasks.

MarketsandMarkets forecasts that the global IoT security market is expected to grow from $6.9 billion in 2015 to $28.9 billion by 2020. In the current scenario, North America is expected to be the largest market on the basis of market size and technological advancement.

Verizon

Verizon

The intense focus on IoT security comes as cable, telecom and other service providers begin to roll out products.  Verizon has launched Grid Wide Utility Solutions, a new Internet of Things (IoT) platform service offering utility companies an easy on-ramp to grid modernization. Now available in the U.S., Grid Wide offers electric utility companies an integrated solution for smart metering, demand response, meter data management and distribution monitoring and control.

Chrysler’s recent recall of millions of vehicles due to remote hijack vulnerability illustrates the importance of keeping ahead of computer security and car standards, according to a new report from MarketResearch.com. Between 2015 and 2019, the connected car market in the U.S. will grow at a combined annual growth rate (CAGR) of more than 28 percent.  That’s why all car manufacturers need to be proactive about security.  The recent software vulnerability in the Chrysler vehicles allowed hackers to wirelessly take over vehicle steering, transmission, and brakes.

As the buzz around IoT gets louder, it will be important to provide consumers with assurances about both the security and privacy of their next generation automotive experiences.  Indeed, a crisis of confidence in IoT in any one area of application could set back and delay adoption significantly.

Sources:

http://www.prnewswire.com/news-releases/marketresearchcom-chryslers-recall-is-a-reminder-to-brush-up-on-computer-security-300119934.html

http://www.prnewswire.com/news-releases/iot-security-market-and-iot-technology-outlook-reviewed-in-new-research-reports-520247301.html

http://www.prnewswire.com/news-releases/verizon-delivers-smart-energy-as-a-service-300120314.html

http://www.juniperresearch.com/press/press-releases/iot-connected-devices-to-triple-to-38-bn-by-2020

 

Show less