Although IoT is changing the way technology works for many people, there’s a dark side to this continuing advancement of technology.
As more and more people want access to IoT technology, they demand for the prices of the products to reduce in price. This means that developers are looking for ways to bring down costs. Unfortunately, this often leads to lowered security measures.
IoT products like fitness trackers are sold for less by companies foregoing the effort to encrypt any of the storage available on them. Including security measures can get expensive—companies could spend hundreds of thousands of dollars on security measures for the initial release of a product.
For many companies, this cost is unachievable.
Even after the initial launch, companies worry about the ultimate duration of time they should keep their product(s) secure. Long-term security involves expensive testing and releasing patches for any security problems discovered.
The need for security means that if consumers are serious about purchasing IoT products, they will have to be prepared to pay more money for them. Given the popularity of this type of technology, consumers will most likely adjust to the price point.
If your concerned about security with your business’s technology, talk to an IoT consultant about finding an affordable solution.