By: Suketh Evani
February 25, 2020
Is It Worth It To Learn IoT?
By: Suketh Evani
February 25, 2020
Every decade, human civilization experiences a new wave of technology and in the next decade, it is predicted that the Internet of things (IoT) is going to hit hard. Internet of things (IoT) is a collaboration of electronic devices and objects that are interconnected and can be identified uniquely. In layman’s terms, just like the internet, it is a group of devices or entities that can connect to the internet and provide data to perform a set of tasks. The huge buzz around IoT raises an important question that each security professional must ask themselves is whether it is worth learning IoT or not?
For some historical perspective, back in 2016 there was a famous Mirai cyberattack that occurred involving a group of hackers who used a malware called “Mirai” to infect millions of domestic IoT devices. They used this huge botnet to perform a DDoS attack on a DNS service provider called Dyn. This attack caused millions of dollars losses. More importantly, this attack speaks a lot about what is at stake in the current industry of the Internet of Things.
Let us understand the scope and some facts about IoT to analyze the value of learning IoT for both beginners and people in the industry of Information Technology.
The Scope of the Internet of Things
The application and uses of IoT are only limited by our power of imagination and creativity. The Internet of things has been successfully deployed in fields like home automation, smart grids, and medicine. The replacement of watches with smartwatches or bands stands is the best example of how effective IoT can be in changing our lives. Considering the role of IoT in the future of technology, it is being called the 4th Industrial revolution.
On the other hand, it is essential to have a robust security protocol that will protect users from various attacks like Data theft or Denial of Service. Protecting the massive amounts of data being generated by IoT is quickly becoming a growing problem for hardware and tech companies alike.
While industry and Cloud IoT have a great opportunity to open new markets, the Internet of Things also calls for collaboration with other growing technologies like Artificial Intelligence and Data Analytics.
The Future of IoT
At this point, even a 10-year-old kid would agree that the future of IoT is bright and promising, so it would be wise to consider some facts and figures to substantiate this.
By 2023, the number of mobile devices with cellular IoT connections is going to increase to an approximate of 3.5 billion by 2023.
- The market for IoT devices used for domestic purposes is going to climb to a staggering 53.45 billion US dollars by 2022.
- By 2025, it is predicted that almost 75.44 billion devices are going to be connected by IoT.
- It is foreseen that companies could invest up to 15 Trillion dollars in IoT by 2025.
A recent study shows how the top 70 percent of the fortune 100 companies are innovating in their products in respective fields using IoT technologies. This study was done Intel, and puts things into perspective on the question of “Is it worth learning IoT”.
- Rolls Royce is using intelligent sensors on its Civil Aerospace jets.
- Cisco uses smart grid technology in mass transit, aviation, and energy control services.
- Moreover, one-third of the Fortune 100 companies are investing in Healthcare technologies.
While studying the business models of these companies, it is noteworthy that 47% of them bundle IoT technoloy with their products. On the other hand, around 30% of these companies deploy IoT related products as services. This speaks to how IoT is being deployed into people's every day lives, and how it has helped companies to better advance their offerings in their respective areas of expertise.
The Demand For IoT Security
Consider the demand in the field of IoT and how it benefits developers and security professionals. According to experts, there is great demand for IoT which is not currently being balanced by an equal supply of trained talent. This opens a window of opportunity for a lot of individuals with specialized training in on IoT technologies, where some payscale data indicates software developers for IoT receive an average salary of $103,000 - $128,000 per year.
Now having considered the future, scope, and demand of IoT in the world, one can take a more holistic approach to answer the question whether IoT is a worth learning to invest your time and money after considering the facts and figures. It is definitely a subject that if learned can provide for a quantum leap in your career. Its wide application in other fields like AI, and DevOps makes it all the more valuable to future career paths.