Security in IoT has now become a key priority as solutions are becoming more main stream and both the potential risk and magnitude of impact are becoming significant. Incidences from 2014 and earlier regarding IoT have represented not only a breach of trust but also a threat to personal and enterprise data security. Security in IoT has now become a key priority as solutions are becoming more main stream and both the potential risk and magnitude of impact are becoming significant. Incidences from 2014 and earlier regarding IoT have represented not only a breach of trust but also a threat to personal and enterprise data security. While initially hackers have been largely a nuisance, Mind Commerce anticipates that their intrusions will become increasingly impactful leading to the potential for operational disruption, industrial espionage, damage to enterprise assets, and even potential physical harm to human beings. To regain trust, IoT has to undergo a transformation with respect to front end policy and design a unified procedure that will take care of the entire IoT lifecycle. The key issue of IoT is that it is not one platform technology and involves many stakeholders and multivendor nature of business. Therefore solutions developed for securing IoT are also designed as per the thing and its use in field. Click here to learn more and to see options for purchasing the report in our secure, mobile-friendly store The nature of business in IoT involves variety of equipment / device types, software and other applications and platforms each comprising multi-vendor and multi-system in nature. Following are few key security challenges Mind Commerce have identified in developing security solutions for IoT. IoT security can be obtained by dividing IoT frame in four major categories. Mind Commerce estimates that the investments in securing IoT will grow at a fast pace through 2020 with a CAGR of 31.1%. The recent incidences and anticipation of increasing such incidences in coming future has made IoT vendors aware about importance of securing their products and applications from malicious attacks. Failing to which will not only cause great financial loss but also breach of trust and further impact on business and IoT concept. The report, <13px>Security and Privacy in the Internet of Things (IoT): Challenges, Market Opportunities and Forecast 2015 – 202013px> assesses the current state of IoT security, analyzes current challenges, and evaluates potential opportunities. The report assesses the need for security for IoT in different areas and identifies existing and needed solutions.
Mind Commerce, a research and business intelligence provider for the digital economy, anticipates that investments in securing IoT will grow rapidly up to 2020; at a compound annual growth rate of 31.1%. In a new report, the company assesses the current state of IoT security and identifies one major categories for security: hardware; software; services; and other elements such as human or similar physical interference.