Press

Securing industrial IoT: A trillion-dollar dilemma

Security is a valid and potentially costly concern for businesses looking to enter the world of Industrial IoT but recent developments could provide a more secure, method of connection, making devices invisible and completely discoverable via TCP/IP.

Businesses should be very concerned with industrial IoT security. Cybercrime is on the rise and could cost businesses upwards of $6 trillion annually by 2021, according to research firm Cybersecurity Ventures. This threat to IIoT is sizable, but it doesn’t have to be.

IIoT presents huge opportunities for makers and providers of industrial equipment and related systems. By connecting machines to the cloud, revolutionary new approaches to customer service and process automation can begin to thrive, predictive maintenance being one of the fastest-growing business lines.

Critical to the success of disciplines such as predictive maintenance or process automation is the ability to connect these machines to the cloud. The majority of machines are not designed with native internet connectivity built in, and certainly not wireless connectivity. They are typically designed to be securely connected to control systems (such as SCADA) which monitor and manage them via fixed cable connectivity.

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