Growing security concerns could throttle the take-up of M2M services in a variety of vertical sectors, according to a new study from ABI Research.
The market-research company says that “porous security” is exposing the vulnerability in variety of areas, including SCADA systems, telemedicine and telemetry.
It believes that most M2M applications lack the basic security requirements that have been a de facto standard for information and communication technologies elsewhere.
“The market’s ability to respond to these security challenges at the application level is still underdeveloped,” says Michela Menting, a senior analyst in cyber security at ABI Research. “When faced with security requirements, the focus has been to tighten the screws at the network level, often to the detriment of the application, leaving it unpatched and exposed.”
ABI Research reckons the horizontal evolution of M2M will require full end-to-end security and that significant efforts will need to be invested in M2M application security if the market is to realize its full potential.
“Whether this is through open source initiatives or standards development, the demand for increased M2M application security will have to be answered, and sooner rather than later,” says the company.
On a positive note, a number of M2M vendors – including Axeda (Foxboro, USA), ILS Technology (Boca Raton, USA), Gemalto (Amsterdam, Netherlands), Novatel Wireless (San Diego, USA) and Sierra Wireless (Richmond, Canada) – are already putting more emphasis on M2M application security in anticipation of future market opportunities.
ABI Research expects global revenues from M2M security to hit $198 million in 2018.