Smart Home Industry is getting bigger in the Mass Consumer Market

Smart Home Industry – What does it take to be Globally-Acclaimed?

Yes. You’ve heard it right. The smart home industry is getting bigger and bigger by the day. With a projected net worth of over 58 billion USD by 2020, it seems like the Internet of Things (IoT) is one step closer to becoming a worldwide standard. However, there’s still something holding these smart home devices back – lack of better security.

The Intel Security International Internet of Things Smart Home Survey Results

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According to a recent survey conducted by computer industry giant, Intel, a lot of consumers are afraid of identity thefts, invasion of privacies, personal information leaks and more. A whopping 92 percent of participants heavily feel that their personal data is at risk of hacking.

When given options for a potential solution, 89 percent of the participants found that incorporating all their smart home devices that are 100% secured via a single integrated security package of some sort. But just how vulnerable are smart home devices being offered today?

We’ve gathered information from Intel and Symantec regarding the state of the smart home security at the moment. We will cover the information in detail below.

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Smart Home Industry – Smart Home Security Risks

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Whatever we do online, we risk the chance of exposing our personal data, whether you’re making a purchase at a certain website or sharing a photo on social media sites. Apparently, the smart home industry is not safe from this either.

According to some reports, some people can tinker with smart home devices that are connected on the internet. Smart home devices such as garage doors, smart home lights, ACs and other smart home necessities are open to vulnerabilities if not set correctly. Even baby monitors are subject to such pranks from online trolls and non-experienced hackers.

Another notable risk is a vulnerability spotted by the professionals of Symantec. According to their initial screening of the smart hub, tinkering with various controlled devices via relay can easily be augmented and customized by mid-level coders found online. With this security threat, you can leave your home vulnerable to theft by delaying or spoofing the system that the action has been done.

Probably one of the biggest smart home security flaw is the cloud service found in some of the smart home devices available today. Sure, smart home cloud service is an awesome way of getting in touch with your home even if you’re away. However, since some smart home controllers can simply be accessed via web browser by simply going to the address and enter a 4-digit PIN, it will only be a matter of time before it can be cracked by a software.

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These vulnerabilities can really affect the progress of the smart home industry. This is probably why a lot of consumers who can afford smart home devices are still holding off on their purchase until these issues are solved.

 

Smart Home Industry – Still Moving Forward

Regardless of all the noted smart home security vulnerabilities, it seems like the smart home industry is still moving forward as planned. With Google and Amazon making things easier for consumers to experience what smart home devices have to offer, consumers are still finding the benefits of a real connected home.

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With smart home technology getting more and more advanced, you can expect smart home security doing what they are supposed to do. Also, with new smart home security innovations like the Dojo, Nymi, and other technology, it will only be a matter of time before your personal information is truly secure within the confines of your network.

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smart home security like no other

With proper knowledge and setup, making your smart home network fully secure is not that hard to do. As long as you are familiar with the settings and you are willing to do trial and errors, you will have the capability to improve your safety and security at home.

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