Internet of Things (IoT): Security challenges, business opportunities & reference architecture for E-commerce

The Internet of Things (IoT) represents a diverse technology and usage with unprecedented business opportunities and risks. The Internet of Things is changing the dynamics of security industry & reshaping it. It allows data to be transferred seamlessly among physical devices to the Internet. The growth of number of intelligent devices will create a network rich with information that allows supply chains to assemble and communicate in new ways. The technology research firm Gartner predicts that there will be 26 billion installed units on the Internet of Things (IoT) by 2020[1]. This paper explains the concept of Internet of Things (IoT), its characteristics, explain security challenges, technology adoption trends & suggests a reference architecture for E-commerce enterprise.