Most M2M applications are lacking the basic security requirements that have been a de facto standard for information and communication technologies elsewhere. If not addressed sooner, this weak link could throttle the successful adoption of M2M in healthcare, industrial installations, and consumer homes.
"The markets ability to respond to these security challenges at the application level is still underdeveloped," says Michela Menting, senior analyst in cyber security. "When faced with security requirements, the focus has been to tighten the screws at the network level, often to the detriment of the application, leaving it unpatched and exposed." However, the horizontal evolution of M2M will require full end-to-end security. Significant efforts need to be invested into M2M application security in order for the M2M market to fully evolve. Whether this is through open source initiatives or standards development, the demand for increased M2M application security will have to be answered, and sooner rather than later.
A number of M2M vendors have already started putting more emphasis on M2M application security in a bid to anticipate future market opportunities. While the market is still relatively niche, ABI Research forecasts strong growth over the next five years, with global revenues hitting $198m by 2018.
