Market for securing IoT devices will increase 5X over next 5 years

Business Intelligence:

A new report from Argus Insights analyzed more than 2.3 social media comments about the IoT since the start of 2016, and “concerns” and “real world applications” were the two biggest topics of conversation…

The conversations on social media were broad, as less than 10% of comments analyzed mentioned a specific company. This indicates that the IoT is still in its early stages because no company has been able to solve these problems and truly open the doors for widespread IoT implementation. Argus noted the market is more focused on how to solve the problems than who will solve them…

Jonathan Camhi of BI Intelligence, Business Insider’s premium research service, has compiled a detailed report on IoT Security that examines how vulnerable IoT devices will create new opportunities for different types of hackers.

• Research has repeatedly shown that many IoT device manufacturers and service providers are failing to implement common security measures in their products.
• Hackers could exploit these new devices to conduct data breaches, corporate or government espionage, and damage critical infrastructure like electrical grids.
• Investment in securing IoT devices will increase five-fold over the next five years as adoption of these devices picks up.
• Traditional IT security practices like network monitoring and segmentation will become even more critical as businesses and governments deploy IoT devices.