The foundation will help companies respond to IoT related threats. The Internet of Things Security Foundation (IoTSF) is launching today at Digital Catapult in London. More than 30 firms including BT, Intel, Vodafone, and Broadcom have taken up the initiative to respond to rising concerns over security in the Internet of Things. IoTSF is designed to encourage firms involved in the creation of smart gadgets to think about security as the hardware is being developed. NMI, a non-profit organisation that promotes operation and growth of the microelectronics industry in the UK, has helped launch the forum. The organisation highlighted that security threats to IoT has increased due to the rise of internet-connected devices, with companies becoming victims of attack due to a lack of basic knowledge of the systems. The internet of things is growing rapidly as companies are adding sensors and communications to household objects to help users monitor the devices and manage them remotely. According to IDC’s ‘Worldwide Internet of Things 2014-2020 Forecast’ the global Internet of Things (IoT) market is projected to grow at a CAGR of 13% to $3.04 trillion in 2020, growing from $1.3 trillion in 2013, and billions of devices will become a part of the new trend. John Moor, representing the IoTSF commented, "There are a great many possibilities for businesses in all sectors including manufacturing, transport, health, home, consumer and public services. However, there are ever-real security challenges that accompany those opportunities. "It is vital to the adoption of existing and new systems that security is addressed from the start, that it is fit for purpose and it can be managed over the lifecycle of the system. "Our intention is simple – drive excellence in IoT security. By creating a dedicated focus on security, IoTSF aims to be the home for providers, adopters and beneficiaries of IoT products and services.
The Internet of Things Security Foundation (IoTSF) is to launch today in London. IoTSEC will be a two-day conference that brings together the world