What does the future holds for us for Internet of Things (IoT) in Singapore

Definition of IoT and what it is to us?

The Internet of Things — IoT, for short — is made up of devices that connect to the internet and share data with each other. IoT devices include not only computers, laptops and smartphones, but also objects that have been equipped with chips to gather and communicate data over a network.

The range of existing and potential Internet of Things devices is enormous. Consumers in Singapore often use their smartphones to communicate with IoT devices, whether it’s a smart speaker or home thermostat. Connected devices offer convenience, like helping you make a grocery list, or savings, like when you turn down the heat at home while you’re on vacation.

Here are my top 10 thoughts and ramblings about the future of IoT.

1. By 2025, it is estimated that there will be more than to 75 billion IoT devices

Let’s have a quick look on where IoT devices are going in Singapore by the numbers and within 5 years of each milestone starting from 2020.

The number of IoT connected devices will reach 30 billion by 2020 and 75 billion devices by 2025. This will lead to increasing amount of data created, stored, archived and transmitted, which will require large amount of internet consumption. 

So, by 2030 and beyond, we are looking at nearly 100 billion IoT devices in Singapore!

2. Cybercriminals will continue to use IoT devices to facilitate DDoS attacks

Singapore entities are also no strangers to cybersecurity incidents with even major government sites getting in the crosshairs of hackers from around the world in recent times.

During the recent years, we saw our fair share of cyber-attacks ranging from attempts to steal data, from governmental, institutional as well as personal, to the new menace called ransomware - where users' PCs and, sometimes, company servers are locked down by attackers who demand a monetary "ransom" to release the machines.

However, one attack, stands out in 2016, not because of the damage it caused but more because it signifies a whole new level of sophistication in the modus operandi that hackers employ. In October 2016, StarHub's home broadband network's Domain Name Servers (DNS) came under attack via what is known as a distributed denial of service (DDoS).

What is significant of this DDoS attack, that its originated from devices within Singapore that were already connected to StarHub's broadband network. In a DDoS attack, machines are infected with a malicious code, which allows hackers to take control and use them to simultaneously and repeatedly send queries - such as log-in requests - to a server or website, with the objective of overwhelming it.

Devices such as Internet-connected DVR players, WiFi cameras, music systems and routers, among others, sitting in the homes of unsuspecting StarHub customers, and infected with malicious code, were taken over by hackers. They used these machines to launch the DDoS attack. These IoT (Internet of Things) end-point devices are made by a variety of manufacturers many of whom supply unbranded and cheap products without adequate built-in security.

While more IoT devices are installed in the mass market, the risk of security breaches will increase. Once insecure devices are in the market, it becomes almost impossible to fix the issue without recalling them or issuing security updates.

A report by Gartner predicts that by 2020, a black market exceeding US$5 billion will exist to sell fake sensor and video data for enabling criminal activity and protecting personal privacy. Given that this lack of security will continue for the foreseeable future, the number of IoT attacks will only increase as well.

As Singapore's reputation as a commercial hub with high connectivity grows, cybersecurity will continue to play an increasing role in the national agenda.

3. Singapore – the number 1 Smart City in the world

Singapore tops the list of cities that will spend most money on smart city projects, together with New York City, Tokyo and London. Each of them will invest more than US$1 billion on smart city planning, according to recent research by IDC.

In a new update to its Worldwide Semiannual Smart Cities Spending Guide, IDC forecasts worldwide spending on smart cities initiatives to reach US$95.8 billion in 2019, an increase of 17.7% over 2018. The Asia Pacific (APAC) region represents over 40% of the total global expenditure.

In the APAC region, the exponential growth and diversity of smart city initiatives in second- and third-tier cities are continually challenging many first-tier cities to transform.

4. Artificial intelligence (AI) will continue to become a key driver in Singapore

In 2018, the national initiative AI Singapore (AISG) announced two new initiatives in partnership with the Infocomm Media Development Authority (IMDA) and the year before that, AI Singapore was set up with express instructions “to catalyse, synergise and boost Singapore’s AI capabilities to power [Singapore’s] future, digital economy.”

The government has also identified AI as one of the four core technologies essential to the country’s push towards being “digitally ready”.Embracing the technology could help the country to overcome some of its current economic challenges of slowing growth, falling capital investment, soft workforce growth and decelerated productivity.

Artificial intelligence has the potential to reinvigorate the state-island’s economy and boost its industrial profits as, according to a recent report by Accenture, AI could add up to US$215 billion in gross value across 11 industries by 2035.

5. Routers will continue to become more secure and smarter

Trend Micro announced last month (July 9th, 2019) that its new product for Singapore consumers - Trend Micro Home Network Security - providing protection against network intrusions, web threats and identity theft for every device connected to the internet at home. Home Network Security also includes parental control features that provide a safer internet for children and gives parents the ability to manage family internet usage.

Today, one in five (20%) Singaporean homes is equipped with smart, connected devices – a number that is predicted to grow to one in three (32%) by 2023. Most of these devices in smart homes are not protected from network attacks, web threats and other risks, and provide cybercriminals with new avenues for cybercriminals to attack consumers. In 2018 alone, 879 million cyberattacks were conducted through home network routers globally. Singapore ranked 8th most likely to be affected by cyberattacks out of 226 countries.

Trend Micro Home Network Security offers a new layer of protection for the home network and internet connected devices like game consoles, smart TVs, security cameras, smartphones and tablets, and smart home gadgets.

These findings highlighted the growing need for stronger security across all devices accessing the internet at home as the rise in popularity of smart devices means homes are now more connected than ever. Families are using all types of gadgets to access the internet at home, and kids today stay on the internet for longer periods of time. While traditional devices such as laptops and home PCs are usually protected by security software, these new smart home devices are often forgotten and can be a huge security risk for families.

6. The coming of the 5G Networks in Singapore

Singapore’s Internet-loving population will soon get to surf the net at faster speeds than ever.

The Government is planning to roll out at least two nationwide 5G networks as early as next year, the Infocomm Media Development Authority (IMDA) announced in a statement in May 2019.

The agency also launched a public consultation to get views from experts and the public on regulatory policies and potential 5G apps and services.

The “ultra-reliable” 5G network will give users access to virtual reality content and allow live streaming of videos in 4K and 8K.

It can also allow more devices to connect to the network, and – for the first time – will allow cloud gaming, which lets players use their phones and tablets to play games that traditionally require a laptop or PC.

5G data speeds are up to 20 times faster than peak 4G speeds and can support one million devices per square kilometre.

This will allow businesses to run numerous “high-demand” apps simultaneously, including nationwide sensor networks, and autonomous vehicles.

7. Cars will get even smarter

The fifth generation (5G) of wireless networking technology may not be commercially available in Singapore yet, but companies will soon be able to test the 5G innovations they are developing at a facility launched yesterday.

Located at the Singapore Polytechnic, the 5G garage will also be a testbed for promising projects by students, including autonomous cars that "know" the perfect route to avoid traffic jams, surveillance drones that identify intruders using facial recognition and robots that scale cranes to inspect for damage.

The benefits of 5G will first be seen in enterprises, especially in their digital transformation when they integrate technology into their processes, services and products. With 5G standards largely established, now is an opportune time for SMEs and enterprises to join us in shaping our 5G future.

The 5G network will be an integral part of Singapore's infrastructure and apart from improved network speed and capacity, 5G's significantly lower latency will allow us to maximise the potential of IoT (Internet of things) and smart city applications. These include autonomous vehicles, robotics or smart lamp posts.

8. 5G’s arrival will also open the door to new privacy and security concerns in Singapore

Singapore will get a cybersecurity crack team for its telecom industry ahead of next year’s 5G network rollout, in a bid to have the new mobile technology secure from the outset.

The Telecoms Cybersecurity Specialist Team will draw experts from the public sector to look for weaknesses and test new tools, under a government work plan unveiled on Wednesday.

Singapore would need to think about cybersecurity from the get-go as mentioned by the Minister for Communications and Information (MCI).

The MCI is also doubling down on efforts to build the digital talent pipeline and advocate for Singapore’s cyberspace interests globally.

9. IoT-based DDoS attacks will take on more dangerous forms

In recent years, massive botnet-powered distributed denial of service (DDoS) attacks have exploited tens of thousands of infected IoT devices to send crippling volumes of traffic to victims’ websites. Such attacks haven’t received much media attention of late, but they continue to occur and will remain threats in coming years.

At the same time, we can expect to see poorly secured IoT devices targeted for other harmful purposes. Among the most troubling will be attacks against IoT devices that bridge the digital and physical worlds. Some of these IoT enabled objects are kinetic, such as cars and other vehicles, while others control critical systems.

I expect to see growing numbers of attacks against IoT devices that control critical infrastructure such as power distribution and communications networks. And as home-based IoT devices become more ubiquitous, there will likely be future attempts to weaponize them–say, by one nation shutting down home thermostats in an enemy state during a harsh winter.

10. Security and privacy concerns will drive legislation and regulatory activity

The European Union’s mid-2018 implementation of the General Data Protection Regulation (GDPR) will likely prove to be just a precursor to various security and privacy initiatives in countries outside the European Union. Canada has already enforced GDPR-like legislation, and Brazil recently passed new privacy legislation similar to GDPR, due to enter into force in 2020.

Singapore and India are consulting to adopt breach notification regimes, while Australia has already adopted different notification timelines compared to GDPR. Multiple other countries across the globe have adequacy or are negotiating GDPR adequacy. In the U.S., soon after GDPR arrived, California passed a privacy law considered to be the toughest in the United States to date. We anticipate the full impact of GDPR to become clearer across the globe during the coming year.

At the U.S. federal level, Congress is already wading deeper into security and privacy waters. Such legislation is likely to gain more traction and may materialize in the coming year. Inevitably, there will be a continued and increased focus on election system security as the U.S. 2020 presidential campaign gets underway. 

While we’re almost certain to see upticks in legislative and regulatory actions to address security and privacy needs, there is a potential for some requirements to prove more counterproductive than helpful.

So, in conclusion to my comprehensive list on my top 10 thoughts for IoT for the years to come, we would be expecting exciting things and news that would change the way we live, work, play and communicate with one another in Singapore as well as what happens around the world, that will definitely affect us. What would you be your thoughts on this?