The rapid rise of the Internet of Things ( Internet ) industry , set to be worth $ trillion by the end of 2020 , is prompting growing concern in some quarters over the lack of security and regulation surrounding IoT. Experts are calling for immediate standardisation and regulation in the industry to prevent the possible compromise of connected technology and to encourage portability , security and manageability . However , others argue that persuading manufacturers to agree on any type of unifying standard is almost impossible in a fiercely competitive market .
The rapid rise of the Internet of Things (IoT) industry, set to be worth $20.9bn by the end of 2020, is prompting growing concern in some quarters over the lack of security and regulation surrounding IoT. Experts are calling for immediate standardisation and regulation in the industry to prevent the possible compromise of connected technology and to encourage portability, interoperability and manageability. However, critics argue that persuading manufacturers to agree on any type of unifying model is almost impossible in a fiercely competitive market.