According to American research and advisory firm Gartner, there will be 25 billion Internet-connected things by 2020, and close to $2 trillion of economic benefit globally. That’s a lot of IoT devices and the biggest question is, can tech companies secure all these objects from threats?
As we slowly see IoT becoming mainstream, with companies like Google, Cisco, IBM, Intel, and others leading the revolution, IoT will soon change the way we live, work, travel, and more.
And while this IoT explosion will offer a wide range of opportunities for manufacturer and consumers, it also poses major risks in terms of security. As more devices get interconnected, securing them all will be the biggest challenge. Hardware, software and connectivity will all need to be secure for IoT objects to work effectively. Without security, any connected object, from refrigerators to manufacturing bots, can be hacked. Once hackers gain control, they can usurp the object’s functionality and steal the user’s digital data.