The Internet of Things (IoT) is becoming ubiquitous as new—and old—devices plug into a variety of networks. From smart coffeemakers in the kitchen to sensors embedded in 20-year-old motors on the factory floor, the IoT is expanding rapidly and relentlessly, as organizations attempt to capture new efficiencies or gain new insights from newly connected devices. Across smart cities, homes, and vehicles, in industries ranging from healthcare to manufacturing, billions of IoT devices are in the field today and billions more are expected to come online in the next few years. Gartner predicts that more than 20 billion connected devices will be in operation by 2020, rising from 8.4 billion in 20171 . Technology research firm IDC predicts global IoT spending will total nearly $1.4 trillion by 2021.
But as the IoT opens new windows of opportunity for businesses, it also introduces new types of risk. Many IoT devices may not have been designed with security in mind. Some lack the onboard processing power or memory to provide robust security controls. As more IoT devices are produced, the attack surface and potential vulnerabilities will evolve and expand, quickly outpacing current methods to defend against them.