The market for IoT technology is dealing with more than a million estimated devices by the year 2020, in Europe alone.
Consequently, such a rising population of IoT-connected devices has been posing major security challenges for every IoT Mobile Application Development Company and IoT device manufacturer out there.
Businesses must address these potential threats soon. Public distrust of IoT enterprises is steadily increasing with the rise of these issues. However, to solve anything, one must know precisely the problem.
Table of Contents
Hence, let’s take a good look at what these massive threats are…
- Not Enough Emphasis on Testing and Updation
There are more than 20 billion IoT-connected devices in the world. All about to rise to 60 billion by 2026.
So, one thing that we can all agree on is – the wave of IoT gadgets is so much more massive than one could have imagined. And such a surge does not come without its cost.
A leading problem amongst tech companies that are building these devices is the huge security risk. So many IoT devices don’t get either enough updates or any updates at all.
That means a device, which a user bought thinking it’s secure, after a while becomes prone to security issues, with hacking being one of them.
While it was a problem for earlier computer systems, automatic updates have primarily eliminated it.
Read More: Internet of Things in the Healthcare Industry
IoT manufacturers, on the other hand, seem more interested in delivering as many devices as possible, without giving security much thought.
They must address this issue by properly testing every device before launching. It must deem it ready for the public, followed by regular updates afterward.
- The Massive Population of IoT Devices
IoT devices have become a crucial part of our daily lives. Today, many will agree that they almost invade people’s personal lives.
As the user base for this technology is steadily increasing, subsequently, enterprises will also have hundreds of thousands, if not millions, of these devices to deal with.
And with such a huge number of devices, we will face the challenge of managing the enormous amount of user data that is supposed to come with it.
AI and automation tools are already there to sift through the massive data collection. They could help administrators and network security officers with IoT development. Moreover, they help detect any anomalies with traffic patterns or data and enforce rules specific to data management.
Read More: Internet of Things in Manufacturing Industries
It’s clear companies must rethink ways of keeping their users’ data secure. However, using autonomous systems for decision-making in large infrastructures like power, transportation, and healthcare could affect millions of functions. Consequently, this could be considered risky..
If care isn’t taken, an error in a single line of code or an anomalous algorithm could kill the entire infrastructure.
- Hackers Taking an Aim at Cryptocurrency
Cryptocurrency valuations are on the rise, and the competition in mining is not cooling off anytime soon.
It seems all too enticing for hackers, who are more than ready to cash in on the situation. While Blockchain technology is mostly hack-resistant, certain sectors within it seem prone to an increasing number of attacks.
The Blockchain itself isn’t that much of a problem; instead, the Blockchain app development running on it is the major vulnerability.
Social engineering is for extracting passwords and usernames. Therefore, we won’t be surprised to see it used in the future to hack apps based on Blockchain as well.
Hackers are currently mining Monero, an open-source cryptocurrency, using IoT devices. In fact, many hackers have even altered video cameras and repurposed IP addresses to mine crypto.
Any breaches in Blockchain, manipulation of data integrity, and other incidents can be a huge risk to the crypto market. Ultimately, these could disrupt the structure and value of cryptocurrencies, which are already too volatile, to begin with.
There is a need for regulation in IoT applications, platforms, and structures that rely on this technology. It requires constant monitoring and updating to ensure there are no cryptocurrency exploits in the future.
- IoT App Development and Data Security
Data security and privacy are two leading issues we face in this interconnected world.
Large companies are always harnessing, transmitting, storing, and processing data through a number of various IoT devices. It includes smart TVs, connected printers, speakers, smart lighting systems, etc.
Because companies usually sell or share all user data with others, they often violate data privacy and security rights. This results in people’s further distrust of the concerned enterprises.
To tackle the issue, we need to have certain regulations regarding dedicated compliance and privacy in place.
These rules should anonymize or redact sensitive data before storing IoT data payloads. This will dissociate them from information that could personally identify a user.
Every IoT application development company must ensure the same applies to services that help access, process, and manage IoT-related data. This includes web, cloud, and IoT mobile applications.
Instead of only focusing on getting a device or app on the market, companies must use their resources to prevent security breaches with their products. Such breaches could instantly harm their brand authority.
In Conclusion…
These were a few of the major security issues being faced in IoT app development.
It’s clear companies must rethink ways to keep their users’ data secure against potential theft. Moreover, protect them from hacking and other forms of virtual attacks they could face.
Therefore, IoT manufacturers and related enterprises must put in place stringent regulatory and legal frameworks.
Read More:
- 6 Key Features of Healthcare Mobile App
- Java Vs Kotlin: Which One is the Best Fit For Android App Development?
- Know Advanced Key Features of Google Analytics
