We already know the scale of the various projections with billions of connected things ranging from industrial IoT to home connected devices and everything in between. This exponential growth brings its own share of uncertainty and risks. In fact, according to a recent survey data released by strategy consulting firm Altman Vilandrie & Company, nearly half of U.S. firms using an Internet of Things (IoT) network have been hit by a recent security breach, which can cost up to 13% of smaller companies’ annual revenues. From teddy bears to cars to warehouse equipment, anything with an Internet connection can be hacked, creating serious financial and legal exposure for companies and safety concerns for workers and consumers.
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