IoT primes identity management for continued investment growth

IoT is slowly taking hold within enterprises and it’s often doing so as the foundation of Industry 4.0.  This is a trend that’s likely to accelerate as IoT not only transforms how consumers use and interact with the devices around them, but also promises to transform manufacturing through smarter factories.

Unfortunately, as we’ve seen time and time again – whether talking consumer or enterprise-class products  – security and privacy are not usually an integral part of the plan. Have a look at Andre Luiz Silva’s piece on IoT security and privacy.

Of course, similar to the rise of web applications, e-commerce, and most other technologies a lack of inherent security and privacy concerns within IoT devices are unlikely to slow adoption by either consumers or enterprises in any discernable way.  By 2021, IDC expects enterprise IoT spending to reach $1.4 trillion. Have a look at the post IoT spending increases as strategies mature.

One area where enterprise security-related IoT spending is expected to increase is with identity and access management. According to market research firm ABI Research, IoT identity and access management revenues will reach $21.5 billion by 2022. ABI has dubbed this market as IDoT, or IDentity of Things.  As these IDoT services grow, most will go to industrial, manufacturing, and automotive market verticals.

“This brings us one step closer to the realization of IAM 2.0 (Identity and Access Management),” said Dimitrios Pavlakis, Industry Analyst at ABI Research in a statement. “We are entering a transformational period where device IDs, system IDs, and user IDs are forced to merge under the hyper-connected IoT paradigms, effectively altering the way IDoT will be perceived from now on.”

ABI Research also suggests that open IoT standards and frameworks such as OCF (Open Connectivity Foundation), OneM2m and DeviceHive, which aim to support vendor-agnostic applications, will reduce the friction caused by interconnected proprietary systems.

ABI Research added that, considering recent PKI (Public Key Infrastructure) success in securing IoT devices, they expect the specialization trend to extend to Certification Authorities (CAs) when it comes to smart city, transportation and healthcare, cloud service providers, banking and finance, and enterprise and consumer.

Unlike previous waves of identity and access management investment, this wave will likely include the management of the identities of more machines and devices than people.

This is a Security Bloggers Network syndicated blog post authored by Cybersecurity Matters. Read the original post at: Cybersecurity Matters – DXC Blogs