As a result of exponential growth in the Information Technology (IT) industry and the fast pace at which Internet of Things (IoT) is spreading across the world, industry experts say that businesses need to be prepared for data privacy and security as the amount of internet-connected devices is expected to reach 50 billion by the year 2020.
Funke Opeke, chief executive officer, MainOne, while speaking at a technology event in Lagos, said that in a few years everyone, everything and every place would be connected to the network, causing exponential network growth and increased cyber attack risk.
“With the way the world is going, the amount of internet-connected things will reach 50 billion in the year 2020. In Lagos alone, we have people with five or more connected devices at a time at home, in the office or on the go,” Opeke said.
“Therefore, enterprises need to be prepared, especially for privacy and security concerns that this growth will pose. Global technology companies are already preparing themselves with the acquisition of IoT tech companies,” she said.
The 50-billion figure is predicted on the basis of growth in the past years.
Opeke said General Electric (GE) estimated in 2014 that convergence of machines, data and analytics would become a $200-billion global industry over the next three years and today, with the advent of Apple watch, Android watch and others, 7 percent of consumers own wearable IoT devices and 4 percent of consumers own in-home IoT devices.
“Wearable technology ownership doubled in 2015 – increasing from 7 percent in 2014 to 14 percent by 2015 – and is expected to double and reach 28 percent adoption rate this year. It will continue to grow with new devices such as smart televisions and even cars, apart from the normal tablets, laptops, computers and phones that we have today,” she said.
The growth of these connected devices creates a need for managed security, because cyber attacks continue to succeed with alarming regularity.
“Relying on perimeter defence and rule-based security is clearly inadequate and so managed service providers will become more popular amongst enterprise businesses,” Opeke said.
Titi Akinsanmi, Google’s policy and government relations manager, said with the continuous growth of IoT, there was absolute need for a safer internet.
“A safe internet is undoubtedly good for everyone. We all use the internet, so it is important for government, the organised private sector and civil societies to continue to collaborate to develop and promote strong policies aimed at improving the safety of users while on the web,” Akinsanmi said.
“As the online safety landscape continues to evolve, key stakeholders need to employ smarter tools that will ensure the online environment remains safe for everyone,” she added.
JUMOKE AKIYODE
