Opportunities and Threats in the Internet of Things’ Future

The world of the Internet of Things skyrockets since more companies appear at the market. Some of them promote their brands; others follow the latest trends and are focused on developing solutions based on advanced technologies. Perenio IoT experts spol s r.o. follows the major developments in the Internet of Things world willing to make its products both in demand and meeting all standards.

The IoT-sensors market will grow to 22.48 billion dollars (experts)

According to the recent MarketsandMarkets’ specialized research, the average annual growth rate of the IoT sensors’ market will be 33.6% by 2023. If today sales exceed 5 billion dollars a year, then in five years it will rise to 22.48 billion.

This is the share of IoT sensors sale that will increase first. Smoke, Motion and Leak sensors become more popular each day.

Along with the market growth, new areas of smart technologies usage appear. For example, the design of “intellectual” clothing is becoming popular today.

In the coming years, the complex smart building management systems will be in highest demand. Perenio is an active player offering such solutions. Thus we develop an opened system that will enable to connect the other manufacturers’ devices to a single network. Devices, currently available on the market, interact poorly with each other as they use different data transfer protocols and requires its separate control gateway. That is why a unified solution will allow users to focus on the functional characteristics of the device but not on its brand. 

What are the threats to the Internet of Things’ market?

In the context of positive changes some negative side takes place as the number of cyber attacks on IoT devices increases. Criminals use the Internet of Things to steal user data or blackmail. Most of the 490 million such products that exist today are vulnerable, for example, to a DNS rebinding. Does this mean that any “smart” sensor or camera can become a weapon in the hands of an intruder? Potentially yes, but that is not a reason to despair as, on the one hand, simple users of building management systems are unlikely to make any interest for data robbery, and there are ways to protect personal information on the other side.

The main thing is the legal background. The General Data Protection Regulations is a crucial principle that guards all Perenio Smart Management System users. This means that the company is responsible for the storage of personal data, and therefore is highly into ensuring the maximum security of its servers. Read more about GDPR in one of our articles.

You can also enhance the protection of the IoT devices by your own, for example, by properly configuring the DNS server. It is vital to ensure that it is impossible to connect to your smart system elements from the outside, so it is recommended to replace the factory settings and prescribe personal ones for all the home devices, including smartphones. You can manage the data transfer process through the Control Gateway.

Know more about protecting your data from cybercriminals in the next articles in our blog.