Qualcomm and Verizon team up for new IoT modules (VZ, QCOM)
BI Intelligence
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Verizon announced a partnership with Qualcomm to introduce ThingSpace-ready modules for deployment using the chip designer’s CAT-M1 LTE Modem, according to a press release from Qualcomm.
Further, Verizon is making a development kit available to the public that will help with the easy creation of various IoT solutions using its ThingSpace platform. This is a strong move for both companies, and it speaks to the increasing importance of IoT platforms like ThingSpace as the IoT proliferates.
Qualcomm could be bolstering the ability of modules to run on its CAT-M1 LTE networks before they face a threat from 5G. Qualcomm is a prominent designer of low-power cellular networking hardware for the IoT, and could see increased use of these devices as a result of the Verizon module. However, with 5G for the IoT set to potentially roll out this year, the company could see use of these older cellular networks dwindle, especially if it starts to roll out without issues, as BI Intelligence predicts.
The partnership seems to confirm Verizon’s strategy of diversifying its offerings within the IoT. By teaming up with Qualcomm, the telco provider is expanding its presence in the IoT platforms space, as it also continues to make preparations for the rollout of 5G, which could begin sometime this year. Further, the company bought Fleetmatics last year to increase its presence in the growing fleet management business. By diversifying its offerings, Verizon appears to be well prepared as many realms of the IoT continue to grow moving forward.
Security hacks help draw media attention to the dangers involved with vulnerable IoT devices, but they don't illustrate all the ways that hackers can use these vulnerabilities in the real world. Hackers could potentially crash a compromised car, but they are more likely to exploit IoT devices to gain entry to corporate and government networks and databases.
BI Intelligence, Business Insider’s premium research service, has compiled a detailed report on IoT Security that examines how vulnerable IoT devices will create new opportunities for different types of hackers. It also forecasts the market for solutions that can help secure IoT devices, and explains how different security measures can be used to protect these devices against hackers.
Here are some of the key takeaways from the report:
- Research has repeatedly shown that many IoT device manufacturers and service providers are failing to implement common security measures in their products.
- Hackers could exploit these new devices to conduct data breaches, corporate or government espionage, and damage critical infrastructure like electrical grids.
- Investment in securing IoT devices will increase five-fold over the next five years as adoption of these devices picks up.
- Traditional IT security practices like network monitoring and segmentation will become even more critical as businesses and governments deploy IoT devices.
In full, the report:
- Explains why IoT devices often lack basic security measures like properly encrypting communications.
- Forecasts the market for solutions that help secure IoT devices against attacks.
- Examines how different types of hackers could exploit IoT devices for financial gain, media attention, or to further a geopolitical cause.
- Explains how organizations can secure IoT devices at both the device and network level.
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