The 'Internet of Things' will create a lot of security vulnerabilities -- here are ways companies can start tackling these issues

Over the next five years, the number of Internet of Things devices will grow nearly tenfold — from 2.5 billion in 2014, to nearly 24 billion by 2019, according to BI Intelligence estimates.

However, one of the biggest barriers currently preventing widespread IoT adoption are security concerns. Business executives, government officials, and consumers are rightly worried that by installing IoT devices within their business, city, or home they are exposing themselves to a hacker who could either use their IoT device in a malicious way and/or steal the data associated with the device.

In a new research note, BI Intelligence examines the current state of Internet of Things security within the home, business and municipality. We examine the motivation behind IoT hacks, what data is commonly targeted, provide examples of security hacks, and provide summary and analysis of a Federal Trade Commission (FTC) report which provides suggestions for how IoT device companies can secure home IoT devices.

Access The Full Report And Downloadable Charts By Signing Up For A Free Trial>>

Here are some of the key findings from the report:

To access the IoT Security Primer and BI Intelligence‘s ongoing coverage of the future of the Internet of Things — including downloadable charts, data, and analysis — sign up for a free trial.

NOW WATCH: Security Experts Are Racing To Destroy A Virus Called ‘Shellshock’ That’s Targeting Apple Computers

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.