Internet of Things: How Much Does it Cost to Build IoT Solution?
IoT is trending. Companies invest in new tech...
However, there are two sides to every coin. Businesses looking to increase operational efficiency with IoT must assume full responsibility for the security and integrity of their connected systems, as the current regulations regarding the Internet of Things deployments remain a suggestion rather than enforcement, and only 10% of IoT vendors are confident in their product’s security.
Following the Internet of Things security accident, an enterprise with the annual income of $ 5 million will bear losses equivalent to 13.4% of its total revenue; for prominent market players like Maersk, the world’s largest container shipping company, financial losses could reach $ 300 million due to serious business interruption and reputational damages.
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