IoT Spending Forecast

IoT is a multi-billion business that is expected to even grow further in the coming years.

17:29 28 November 2017

According to IDC, the global spending on IoT will reach $1.29 trillion by 2020. Intel is even more aggressive in its projections, expecting the number of IoT devices to reach 200 billion in the next two to three years. 

 

However, there is a growing concern on IoT security. Late last year, hackers have found a way to exploit a vulnerability in a brand of IoT cameras and used it to launch a distributed denial-of-service (DOS) attack on the website of journalist Brian Krebs. The following month, a Mirai botnet was used to attack DYN, the DNS provider. Many more sophisticated IoT threats have surfaced since then.

 

Many possible solutions have already been proposed to keep IoT secure. One of them is using the cloud, which has already shown how it can simplify IT life. It has redefined the way we think of our servers, storage and applications. Experts agree that the same should be applied to our security and networking infrastructure.

 

Cloud allows enterprise to use their unlimited resources to inspect all traffic and implement virtual patching without concerns around performance degradation. The cloud also makes it possible to connect everything – offices, data centres, cloud resources and mobile users – possible.