At an astonishing rate, the world is changing due to the network of tiny but powerful smart devices that are integrated into our living, farming, communication, and health monitoring practices.

With 80% of respondents saying they want to expand their network of IoT devices during the next 18 months, Eseye's State of IoT Adoption Report indicates that the sector is expanding quickly. This expansion demonstrates how the Internet of Things has the power to completely transform our lives. But there are obstacles to overcome, especially when it comes to security and network dependability.

These issues need to be resolved if IoT is to realize its full potential. When anything goes wrong, the more embedded this technology is in our culture, the more problematic it becomes.

According to Nick Earle, CEO of Eseye, a company that offers worldwide IoT connection solutions, the survey participants are facing major challenges. They're having trouble staying ahead of the curve, and security has become one of the main IoT issues this year.

IoT security has to be strong since hackers are always changing and employing sophisticated tactics. Nonetheless, 50% of the industries polled in Eseye's analysis reported a security breach during the previous 12 months. 61% of respondents reported having experienced a cyberattack, making smart vending the industry with the highest number of security breaches.

Any IoT system must have strong security; if it doesn't, the compromised firm will experience interruption, expenses, and frequently even fines from the government. In 2017, following a data breach that impacted 500,000 customers, the ICO tried to punish British Airways £184.4 million. The ICO decided to lower the cost to £20 million after hearing BA's testimony, making it the largest fine ever for a GDPR violation.