Internet of Things (IoT) units in India are expected to see a rapid 31-fold growth to reach 1.9 billion by 2020. The market value of IoT is expected to reach $9 billion by 2020. IoT is going to be the next big thing for operators as India will rapidly grow into a hub for IoT lsolutions.
“With advances in reliability, accuracy and technology of advance tech measures such as biometric authentication, digitisation will gain popularity in various business applications,” the company said in a statement. Even with over 750 million cards in circulation and significant growth, mobile-based and digital payments will eclipse physical card payments.
Cybercriminal networks are taking advantage of security shortcomings in Internet of Things (IoT) devices to spread malware and generate zombie networks, or botnets, without the knowledge of their device owners, cyber security firm Symantec has found.
Symantec’s Security Response team discovered that cybercriminals are hijacking home networks and everyday consumer connected devices to help carry out Distributed Denial of Service (DDoS) attacks on more profitable targets, usually large companies.
A DDoS attack is an attempt to make an online service inaccessible by overwhelming it with traffic from multiple sources.
More than half of all IoT attacks originate from China and the US, based on the location of IP addresses to launch malware attacks.
According to research company Gartner, the global security expenditure on Internet of Things (IoT) will reach $348 million (roughly ₹2,321 crore) in 2016. This will be a 23.7% increase from last year, the company added. Additionally, the report predicted that 6.4 billion connected devices will be in use worldwide in 2016, a 30% increase from 2015.