How to Prepare for the Future

the 2020 loT the Future How to Prepare for loT Internet of Things 1.9 billion = the idea of connecting any device to the Internet devices are connected today loT is being enabled by advances in wireless connectivity increased data miniaturization storage capacity loT Market 300,000 developers Today $1.3 trillion 2013 devoted to loT 13% compound annual growth rate (CAGR) 4.5 million developers 2020 2020 $3.04 trillion will be devoted to loT According to International Data Corporation (IDC) loT's potential consumer business city level state level help achieve goals by improving the decision -making capacity via the augmented intelligence of the loT helps achieve enhanced process optimization and efficiencies by collecting data and reporting on the could be a big help in improving building management, more efficient traffic flow, could be used in road infrastructure, highway traffic management, healthcare education water or waste and agriculture management and policing data collected loT's hurdles The study examined 10 common smart devices: TVs, webcams, home thermostats, remote power outlets, sprinkler controllers, hubs for controlling multiple devices, door locks, home alarms, scales and garage door openers. 70% of loT devices are Vulnerable to hacking Privacy concerns Insecure web interface 8 of 10 devices tested raised privacy concerns regarding the collection devices raised security concerns 6 of 10 with their user interfaces such as of consumer data such as name, email address, home address, date of birth, credit card credentials and health information. persistent XSS, poor session management, weak default credentials and credentials transmitted in clear text. Lack of transport encryption Insufficient Inadequate software protection authorization 80% 70% 60% of devices did not use encryption when downloading software updates. of loT devices tested failed to of loT devices did not encrypt require passwords of sufficient complexity and length, with most devices allowing password such as "1234". communications to the internet and local network. Computer researchers at the University of Michigan hacked into "smart" traffic lights and quickly seized control of an entire system of almost 100 intersections in an unnamed Michigan town using nothing more than a laptop and basic radio broadcast equipment. Notable case Massive amounts of data Security Many products are built by smaller companies and/or in open source environments that do not have the resources or time to implement the proper security models. Companies need to figure out ways to store, track, analyze, and make sense of the vast amounts of data that will be generated. Example: the connected house generates 200MB of data a day. To focus awareness on security gaps, Cisco launched the Internet of Things Security Grand Challenge and offered up to $300,000 in prize money for up to six recipients who develop proposals for loT security. Winners will be unveiled later this year. Wireless A connectivity costs Lack of Power Interoperability Standards E Consumption and Batteries The standards to ensure interoperability are relatively immature when compared to other Internet, enterprise, and manufacturing software systems. Battery life and consumption of energy to sensors and actuators needs to be managed more effectively. Current devices & uses Guests at Disney World can wear MagicBands equipped with chips that, when placed next to a reader, connect to their accounts and let The German and U.S. governments are investing > $1B in loT technologies them make purchases, access rides, and open their hotel rooms. to accelerate commercial success. In Cincinnati Utility companies have implemented smart meters to monitor energy, gas, and water consumption. Municipalities are launching "smart city" projects to help ease traffic congestion, improve waste management, monitor energy radiation from cellphone towers, and control street lights. 17% fall 49% growth in residential in recycling volume waste volume through use of a "pay as you throw" program that used loT technology to monitor those who exceed waste limits. Dubai Aluminum improved the fuel efficiency of its gas turbines by 1.5% while increasing output 3.4%, by analyzing sensor-collected operating data. FedEx expects to save $9 million a year using sensors on its trucks that let it schedule dock assignments more efficiently. 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