Two of the biggest technology trends today – IoT (Internet of Things) and M2M (machine-to-machine) communications – are changing the business world beyond all recognition.
Companies of all sizes, from major manufacturers to small-and medium-sized services companies from all sectors, now have a golden opportunity to derive new revenue streams from managing and servicing their customers’ equipment remotely.
According to leading industry analysts, the IoT market already accounts for hundreds of billions of dollars in 2017 – a figure that is set to be in the trillions by 2021. But new research reveals IoT is also a major headache for enterprise everywhere because of limited information and inadequate security measures. Legislators in the U.S. and in Europe are working to bring in standards compelling designers to do more to make their devices secure. But the signs are that even then they may be limited in scope. The good news at least is that remote connections can be reliably secured so that M2M communications remains private and confidential using virtual private networks (VPNs).
Internet of Things (IoT) and machine learning are coming together to bring about a sea change in how we use buildings, at home and at the office. Smart infrastructure makes domestic households more energy efficient and allows companies to optimize their real estate. Almost every large enterprise and government organization is currently working on smart infrastructure projects at some level. It’s no surprise that the market for smart buildings is expected to increase four-fold by 2021. The pursuit of greater efficiency and convenience, however, introduces new risks. Many IoT devices and management systems still run on legacy software and lack any kind of security standards. This makes them vulnerable to attacks by hackers. The answer is to build-in cyber-resilience from the beginning starting with securing all connection points using virtual private networks (VPNs).
Architects and city planners first began promoting the concept of Smart Buildings, or Building Automation Systems (BAS), around ten years ago. Smart buildings were meant to deliver untold benefits from energy efficiencies and greener lifestyles to cost savings and improved living standards for all. Early examples of IP-connected appliances, however, were not built to cope with the demands of an evolving threat landscape.