This week in IoT, US Congress introduces a new security bill while an Irish 5G-IoT accelerator programme is open for applications.
In the world of machines this week, the Geneva International Motor Show continues to showcase the latest in autotech until this Sunday (17 March).
With leading manufacturers showing off their latest electric vehicles (EVs) as well as traditional cars, we took a look at the countries that have the strongest market share of EVs.
Moving on to the world of the internet of things (IoT) specifically, there have been other important news stories, particularly from the US.
Bill to improve IoT cybersecurity
At the beginning of the week, US Congress introduced bipartisan legislation that will hope to improve cybersecurity around IoT devices. The Internet of Things (IoT) Cybersecurity Improvement Act 2019 will require devices purchased by the government to meet certain minimum requirements.
Currently, there is no national standard for IoT security in the US, which means individual companies have the power to decide how secure their devices are. This new bill is intended to fix this gap in security standards.
According to a statement about the bill, the National Institute of Standards and Technology will need to issue recommendations addressing secure development, identity management and configuration management for devices. Additionally, the Office of Management and Budget must issue guidelines for each agency that are consistent with these guidelines, and any internet-connected device purchased by the government will have to comply.
5G-IoT accelerator programme open for applications
In Ireland, entrepreneurs can now apply to take part in a dedicated accelerator programme to help launch 5G-IoT network-enabled products and services. The programme is a collaboration between Vodafone, Ericsson and NovaUCD, and will take place over a 10-week period starting in May 2019.
University College Dublin’s Tom Flanagan said: “We are now seeking applications from established businesses, start-ups and academic researchers in Ireland and abroad, who are developing, or who want to develop, consumer or business-oriented network offerings.”
The deadline for applications is 26 April. A number of teams will be shortlisted to pitch to a panel of experts on 14 May in Dublin followed by the final selection of the winners.
Those interested in finding out more about the accelerator programme can do so here.
Industrial IoT market will hit $933bn by 2025
A new report this week has found that the global industrial IoT (IIoT) market is expected to hit a value of $933.62bn by 2025.
The report, released by Million Insights, shows that the growth is due to a rise in IoT technology development around the world in recent years. According to the findings, cost-effectiveness and ease of availability for various devices are the main factors behind the growth of the IIoT market.
IIoT uses IoT technology to connect machines and devices in industries such as manufacturing, healthcare, transportation and more. Globally, the IIoT market is expected to grow at a compound annual growth rate of more than 27pc in the forecast period, providing opportunities for IoT players to invest in research and development.