IoT systems are growing at an unpresented rate. Gartner, Inc. forecasts that the enterprise and automotive Internet of Things (IoT) market will grow to 5.8 billion endpoints by 2020, a 21% increase from 2019, and this exclude the domestic market that has smart metering, building automation such as connected lighting and sensors monitoring the environment will take the node count over 10 billion.
IoT systems have many uses and while there are competing technologies such as SigFox™, LoRaWAN™ or NB-IoT™, there are many common aspects in the needs for IoT systems. While there is always a long hype cycle on technology, it’s clear that with billons of electronic devices that need to communicate to central infrastructure the systems are low cost, often non-updateable, with a long life (10 years), hence compromises are taken in the design. We have the ideal environment of security breach, fraud and manipulation of the nodes gateways and sensors to alter the perceived environment.
IoT companies often say that the systems are secure “We use AES encryptions So all communication is safe”
We all know that Security gets old look, at how often you update your computer or phone, and that still has attacks and billions $ are lost yearly to fraud worldwide. Just thinks of the opportunities when we are not the individual at the end monitoring the device unlike the devices today.