Financial Incentives

IoT device developers may have significant financial incentive not to make the needed improvements; security costs money, which raises the price of their products, meaning their competitors can undercut them.

It’s in their interest to reduce the complexity and time-to-market of their devices, especially low-margin high-volume devices, such as smart lightbulbs.

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Security and privacy can be selling points, but that requires a certain level of security consciousness in the general public, which is often lacking for new fields like IoT; after all, who ever heard of hacking a lightbulb?

Unfortunately, public security consciousness usually only increases after a highly public security breach.