In accordance Pakistan Vission 2025 and Digital Policy of Pakistan 2018, The ICT Industry size targeting to reach $20 Billion by coming 2025.
The IoT market size in our country Pakistan is estimated to reach 242,2 Million by the end of 2021. Due to this Popularity factor of IoT connected devices is the rise and its leading to rise in IOT App Development, it’s come with fair share of Security Concerns and Security Challenges.
Internet of things security issues
As every manufacturer wants to compete for the one who launches latest devices and get in the hands of customers first?
Few of them considering security issues with data and management. But what is the latest challenge connected with the field of IOT Connected Devices?
Internet of things security issues –
1) Insufficient testing and updating
We know currently near to 23 Billion IoT Connected devices are using worldwide. This number will increase in 2021 to 41 Billion. The main problem is that the manufacturers are much careless in handling device-related security issues.
2. Brute-forcing and the issue of default passwords
The Mirai botnet, used in some of the largest and most disruptive DDoS attacks is perhaps one of the best examples of the issues that come with shipping devices with default passwords and not telling consumers to change them as soon as they receive them.
There are some government reports that advise manufacturers against selling IoT devices that come with default (read, hackable) credentials such as using “admin” as username and/or passwords.
3. IoT malware and ransomware
As the number of IoT-connected devices continues to rise in the following years, so will the number of malware and ransomware used to exploit them.
The ransomware attacks could potentially focus on limiting and/or disabling device functionality and stealing user data at the same time.
4. IoT botnets aiming at cryptocurrency
The heated mining competition, coupled with the recent rise of cryptocurrency valuations is proving too enticing for hackers trying to cash in on the crypto craze.
Social engineering is already being used to extract usernames, passwords, and private keys and we’ll see it being used more often in the future to hack blockchain-based apps.
5. Data security and privacy concerns (mobile, web, cloud)
Data privacy and security continue to be the single largest issues in today’s interconnected world.
Data is constantly being harnessed, transmitted, stored, and processed by large companies using a wide array of IoT devices, such as smart TVs, speakers and lighting systems, connected printers, HVAC systems, and smart thermostats.