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Poor security infrastructure is the Achilles heel for enterprise IoT devices

July 10, 2019 / Livemint

IoT devices are easy targets for hackers due to lack of standardization and regulatory compliance and poor vendor support and security practices. It’s an exciting prospect to have your fridge communicate with your grocer and directly order food and drinks when stocks are depleting. Remote diagnoses of patients or companies remotely repairing machinery parts of their clients are other cases in point.
With 50 billion devices expected to be connected with each other by the end of next year, the Internet of Things (IoT) trend will only accelerate. The advent of 5G will only provide another boost to the IoT ecosystem. It’s hardly surprise, then, that the global enterprise IoT market is predicted to touch $58 billion by 2023, growing at 26% compounded annual growth rate between 2017 and 2023, according to a January Market Research Future report.