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New IoT security regulations: what you need to know

January 30, 2020 / ANGEL FERNANDEZ

Over the past few years, the Internet of Things (IoT) market has been experiencing explosive growth. According to Gartner, there will be 25 billion connected devices by 2021. Statista research suggests the total installed base of smart devices, such as smart TVs, smart locks, IP cameras, home assistants and their associated services, in homes around the world, will reach 75 billion units by the end of 2025, a five-fold increase in ten years. This rise in the number of IoT devices dramatically increases potential vector points for cyberattacks and creates a massive security gap. The challenge we all face is that these devices have weak or no security controls and represent the fastest-growing attack landscape for organizations all over the world, with attacks up 300% in 2019 alone. Cybercriminals exploit multiple vulnerabilities in smart devices and often use them to get access to entire networks. To strengthen the security of connected products, governments around the world are continuously working on the development of new legislation.