The Internet of Things has grown rapidly since its inception. By 2020, around 30 billion devices are expected to take part in the Internet of Things, with 46% of all internet connections lacking human operators, or functioning through machine-to-machine interactions.
While this industry has tons of potential (some estimate that by 2025 the economic impact of the IoT could be between $3.9-$11.1 trillion worldwide), concerns about IoT security risks pose an enormous challenge for the industry.
When IoT devices lack adequate security systems, they can give malicious hackers access to organizations, resulting in devastating data breaches and/or attacks against companies. “One of the major challenges for IoT security is the fact that security has not traditionally been considered in product design and manufacturing for connected appliances and objects.” By incorporating security-by-design principles, as well as integrating a variety of innovative solutions offered by startups, the IoT industry is trying to address the security concerns of its customers in order to reach its full potential.
Below is our list of top 10 IoT security startups to keep an eye on!
Armis Security offers an IoT security solution that lets organizations control their devices and networks by automatically analyzing risky behavior.
Using AI and Analog functions, their behavioral analysis platform detects intrusion hardware, firmware, configuration and data problems in IoT devices, and fixes them before harm can be done. This 24/7 monitoring and remediation can be done without human intervention.
ReFirm Labs is an automated behavioral analytics platform that validates software security embedded in devices, specifically in IoT security. They have created a new method for automating the “process of detecting security flaws in connected devices and mitigating them.” They help international businesses “secure their products by testing their firmware during and after the development process, and monitor for new vulnerabilities.”
MagicCube uses proprietary technology to ensure security in mobile and IoT devices. By securing digital transactions, they can protect sensitive data and cryptographic operations. Their product is incredibly easily deployed and has remote management capabilities.
A cybersecurity firm that helps protect against malicious hardware device attacks. Using behavioral analytics and physical fingerprinting technology “Sepio's software-only solution offers instant detection and response to any threat or breach attempt coming from a manipulated or infected element.”
Trillium Secure keeps autonomous vehicles safe by providing a platform that uses trusted data, applications and services, regulatory compliant customer privacy positions to effectively protect from cyber-threats. They also include insurance and mobility-as-a-service providers in their service offerings.
Karamba is a cybersecurity technology designed to stop hackers from breaching connected cars. They do this by hardening the connected Electronic Controller Units (ECUs) against foreign code, preventing hackers from manipulating them.
A software company developing embedded SIM software solutions.” Connax focuses on creating secure connectivity, security and integration for IoT devices across a variety of platforms.
Inspirit IoT uses machine learning to provide intelligence for real-time, life- and mission-critical use cases or applications. They provide products to markets where performance, power, and time-to-market are critical.
Their platform oversees IoT industrial control network activities, including changes to controller logic, configuration, and code using a state of the art agentless controller verification technology.