The Internet of Things (IoT) offers the potential to exchange information and insights in real time, across a connected network.
The number of IoT devices increased 31% year-over-year to 8.4 billion in 2017 and it is estimated that there will be 30 billion devices by 2020. The global market value of IoT is projected to reach $7.1 trillion by 2020.
IoT involves extending internet connectivity beyond standard devices, such as desktops, laptops, smartphones and tablets, to any range of traditionally dumb or non-internet-enabled physical devices and everyday objects. Embedded with technology, these devices can communicate and interact over the internet, and they can be remotely monitored and controlled.
Gartner identifies the top 10 Internet of Things (IoT) technologies as below:-
• IoT Security
• IoT Analytics
• IoT Device Management
• Low Power, Short Range IoT Networks
• Low Power, Wide Area Networks
• IoT Processors
• IoT Operating Systems
• Event Stream Processing
• IoT Platforms
• IoT Standards and Ecosystems
Some of use cases which can be foreseen in near future are as follows:-
1. Connected cars and transport solutions and services, utilizing internet-enabled systems and wireless technologies for a safe driving experience.
2. Connected health solutions, support compliant medical devices, aggregating data from fitness wearables and uploading it to electronic records.
3. Energy management solutions, provide energy management as a service including enterprise segmentation of energy, budget forecasting, sourcing opportunities, and asset level segmentation.
4. Asset performance management solutions, offer a product-agnostic convergence framework to integrate IT and OT systems.
5. Manufacturing transformation (Industry 4.0) solution, offering consulting and engineering services to establish digitized and connected manufacturing processes.
6. Blockchain-based IoT adoption is already seeing 6% rise.
The Internet of Things (IoT) can be a lot of things—a robotic arm in a connection factory, sensors that help monitor and control a smart building or home, an intelligent coffee machine in your office, and much more. IoT creates vast business opportunities, but also some challenges. It can be time-consuming to get started, and security is complex and spans devices, connectivity, and data. It can be hard to make sense of what you need and who to work with.
Security partners bring silicon to the age of IoT
IoT now supports the industrywide security standards Device Identity Composition Engine (DICE) and Hardware Security Module (HSM). Companies are announcing partnerships with Micron, STMicro to support various types of silicon leveraging HSM and DICE security technologies and Spyrus to support HSM as part of SD and USB storage devices.
With IoT, definitely see loT of benefits in terms of reducing costs and optimize operations, develop superior next-generation products, improve customer experiences, enhance return on investment, reduce errors and improve quality.
Apart from the benefits, there exist IoT Security concerns and Security outbreaks will occur more at the backend and on endpoint devices.
Some of the guidelines for the Internet of Things issued by CSA working group are as follows:-
• Ensure devices can be patched and upgraded.
• Do not store static credentials on devices that could lead to compromise of the cloud application or infrastructure.
• Follow best practices for secure device registration and authentication to the cloud-side application, typically using a federated identity standard.
• Encrypt communications.
• Use a secure data collection pipeline and sanitize data to prevent exploitation of the cloud application or infrastructure through attacks on the data-collection pipeline.
• Assume all API requests are hostile.
Authored By - Lokesh SG
TCS Cyber Security Practice