The existing loose collection of security and privacy regulations are beginning to show early signs of creating hurdles in the adoption phase of Internet of Things (IoT) technology. These hurdles are arising due to the increasing fears around data privacy and the prevalence of malicious attacks that have been disrupting critical operations of commercial, educational and government enterprises.
There is no arguing that the IoT entails – and even invites, important regulatory and legal consideration. The fact is that even after more than a decade since IoT devices and applications have come to market, open issues and regulatory gaps still exist. Up until now, this has not slowed the deployment of more innovative and advanced IoT applications across a variety of sectors. However, without regulatory attention soon the growth of IoT could soon become stagnant.