Fridges, cars, security systems, assembly lines all are connected to the internet. The IoT market is expanding at a rapid pace, and the number of IoT devices and sensors is expected to exceed 50 billion in the next three years.
IoT devices are popular not only in the consumer segment. Businesses choose IoT solutions because they offer numerous opportunities to save costs. For instance, Harley-Davidson managed to increase net margin by 19% and reduced costs by 7% by turning a plant in York, Pennsylvania, into a smart factory with different interconnected IoT devices.
However, as IoT devices become more popular, new risks appear. Given that this category of devices implies a constant internet connection, they are vulnerable to hacking. To protect your IoT network, you should understand what vulnerabilities these devices have, and what attacks may occur. IoT networks have an increased number of endpoints — devices that are connected to the global network and can be used as an entry point by hackers, exposing the whole IoT network to risks.
In this article, we will consider some of the most common security threats and provide you with tips on how you can secure your IoT devices.
IoT Predictions for the Nearest Future
1. IoT will continue to grow
2. IoT security will become more important
3. Security will be a differentiator
What You Should Know About Security Issues That Will Dominate the IoT
- Brute-forcing and default passwords
- Cloud attacks
- Botnets will get stronger
- Undetected small attacks
- Machine phishing
It’s important to understand that the rapid development of technologies also creates more opportunities for hackers. Hackers can use brute-forcing to break into devices with default passwords. They can also create so-called botnets — networks of computers that perform repetitive tasks, being able to attack not only single devices but also whole networks. However, while large-scale attacks quickly attract international attention and make news headlines, individual attacks often remain unnoticed. Therefore, vendors should pay particular attention to security, while users should also understand the common hacking strategies and risks associated with using smart devices.
As the market grows, we should expect companies that offer the safest solutions to become leaders in this niche. In addition, we can expect new effective security approaches to appear. Despite the risks, the IoT industry will certainly continue to develop and will eventually become an integral part of our everyday lives.
About Berta Melder
Berta Melder is an experienced brand manager and content marketing strategist for Masterra, but thinking about additional career development opportunities, as leaders need to be familiar with the technologies that will drive their digital transformation. She also manages the company’s internal training activities on branding.