The world is witnessing the emerging role of Internet of Things (IoT)
as a technology that is transforming different industries, global community and its economy. Currently, a plethora of interconnected
smart devices have been deployed for diverse pervasive applications and services, and billions more are expected to be connected
to the Internet in the near future. The potential benefits of IoT
include improved quality of life, convenience, enhanced energy
efficiency, and more productivity. Alongside these potential benefits, however, come increased security risks and potential for abuse.
Arguably, this is partly because many IoT start-ups and electronics
hobbyists lack security expertise, and some established companies do not make security a priority in their designs, and hence
they produce IoT devices that are often ill-equipped in terms of
security. In this paper, we discuss different IoT application areas,
and identify security threats in IoT architecture. We consider security requirements and present typical security threats for each of
the application domains. Finally, we present several possible security countermeasures, and introduce the IoT Hardware Platform
Security Advisor (IoT-HarPSecA) framework, which is still under
development. IoT-HarPSecA is aimed at facilitating the design and
prototyping of secure IoT devices.