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The IoT tsunami is coming

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The Internet of Things will change everything, in all sectors…and you’d better have a plan.

IoT tsunami

IoT tsunami

IoT tsunami- I have to admit: I have not been very focused on IoT.

When I hear IoT, I often think about connected homes, cars and security cams.

It’s so much more – and its growth projections are worth noting.

Some recent IoT facts that caught my attention:

  • Global IoT market share is projected to grow from 249 billion in 2018 dollars to 457 billion dollars in 2020
  • $ 6 trillion will be invested in IoT solutions over the next five years
  • In 2020, 90% of vehicles will be internet connected
  • In 2020, 173.47 million wearable devices will be in use
  • In 2020, smart cities will have a 26% share of IoT
  • In 2020, industrial IoT will have a 24% share of IoT
  • In 2020, connected health will have a 20% share of IoT
  • In 2020, smart homes will have a 14% share of IoT

Source: SC magazine, Oct 2018

What does all of this mean? How will we manage and secure all of these devices? We already stumbled pretty bad moving from mainframes to client server, connected laptops and smart phones. We simply moved too much data too fast to unsecured devices. See the OPM data breach. The same government that wanted to hurry and get all medical data online could not secure its most prized clearances of its highest-level staff, including military officers and the FBI director.

I like to explain it like this: Early computer systems in the ‘70s were like a castle with one gate in and out. Then client-server came, and it was like an apartment complex with hundreds of doors in and out of the enterprise. Now we’re about to experience a tsunami, a 100-foot tidal wave of IoT devices within every sector.

  • 45% of IoT buyers say concerns about security remain a significant barrier
  • 93% of executives said they would pay more for devices with better security

Source: SC magazine, Oct 2018

Brian Krebs of Krebs on Security recently called out Xiongmai as the technology giant doing the most damage in polluting the web. Xiongmai is a Chinese maker of electronic parts that power cheap digital video recorders and IoT security cameras. These cheap devices have poor default passwords and other security settings. IoT devices are not easily configured, so most consumers just plug and play.

Read More Here

Article Credit: CSO

 

 

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