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Security Vulnerabilities Pose a Challenge to IoT/IIoT Mass Adoption
As the Internet of Things continues to grow, current discovery and tracking tools and methods need to evolve.
Feb 13, 2019—
Statista, a leading market and consumer data research firm, estimates that by 2020, the utilities, transportation and logistics, and discrete manufacturing industries are each projected to spend $40 billion on Internet of Things (IoT) platforms, systems and services. The next largest spending category will be business-to-consumer vendors, at $25 billion, while the health-care, energy and retail industries are each projected to spend north of $10 billion. These numbers add up to a significant investment in the IoT. In fact, the Boston Consulting Group predicts that the IoT market will reach $267 billion by 2020.
IoT Security Lowers Trust and Will Hinder Implementation Growth
While growth in IoT spending may increase significantly, privacy, data theft and DDoS attacks will hamper implementations. If deployments become bogged down with security issues, organizations will not see the benefits of their IoT investment, and the industry's growth will stagnate.
Poor Open-Source Software Management Compromises IoT Security
This means the code that is driving IoT innovation, if not properly managed, has the potential to expose consumer, commercial and industrial customers to privacy violations and data theft. Compounding the issue is the prevalence of open-source code. A popular OSS component is often reused across various industries to execute a spectrum of different purposes. As a result, a single vulnerability within an OSS component may result in permeating consequences.
There are three noteworthy issues for IoT manufacturers looking to address OSS vulnerabilities:
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