Designing products for the Internet of Things (IoT) is a little like being an explorer. In order to reap the benefits of this brave new world, engineers are finding themselves in uncharted territory, particularly when it comes to addressing security as part of the early design process. With analysts projecting 50 billion connected devices (from wearables to industrial equipment to cars) by 2020, the IoT is big business, and manufacturers across industries are ramping up development efforts to become players in the IoT game. Yet in the rush to innovate new IoT offerings and services; companies are paying short shrift to the security aspect of these new smarter and connected products, opening the door to untold privacy and hacking risks that could have substantial financial ramifications and potentially put consumers in harm's way.
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