## 1 Introduction  
The Internet of Things (IoT) refers to a concept of connected objects and devices of all types over the Internet wired or wireless. The popularity of IoT or the Internet of Things has increased rapidly, as these technologies are used for various purposes, including communication, transportation, education, and business development. IoT introduced the hyperconnectivity concept, which means organizations and individuals can communicate with each other from remote locations effortlessly. [PERSON] invented the term 'IoT' in the year 1999 for promoting the Radio Frequency Identification (RFID) concept, which includes embedded sensors and actuators. However, the original idea was introduced in the 1960s. During that period, the idea was called pervasive computing or embedded Internet. [PERSON] presented the IoT concept to improve supply chain activities. However, diverse functionalities of IoT has helped it to gain strong popularity in the summer of 2010. The Chinese government gave strategic priority on IoT by introducing a five-year plan. About 26.66 billion IoT devices exist in the current world [1]. The mass explosion started in 2011 with the introduction of home automation, wearable devices, and smart energy meters. The rapid explosion of IoT has benefittedorganizations and in various ways improved market research and business strategies. Similarly, IoT has improved the lifestyle of individuals by introducing automated services. However, such an uncontrolled explosion has increased privacy and security challenges. The unconscious use, not changing passwords, and the lack of device updates have increased cybersecurity risks and access to malicious applications to the IoT systems' sensitive data. Such inappropriate security practices increase the chances of a data breach and other threats. Most of the security professionals consider IoT as the vulnerable point for cyber attacks due to weak security protocols and policies. Even though several security mechanisms were developed to protect IoT devices from cyber attacks, security guidelines are not appropriately documented [2]. Thereby, end-users could not utilize protective measures to avert data attacks. Hackers developed different kinds of malware to infect the IoT devices since the eve of 2008. They designed various phishing techniques to provoke the employees or individuals to share sensitive data [3]. Therefore, corporate workstations and personal devices often face privacy violations due to high-profile attacks. If device manufacturers and security experts assess the cyber threats accurately, they can develop an efficient protective mechanism to prevent or neutralize cyber threats. IoT enabled devices have been used in industrial applications and for multiple business purposes [4]. The apps help these businesses to attain a competitive edge over their competitors. However, due to the excessive adoption of various smart devices with data sharing and integration, the privacy and data breach becomes a significant concern to most businesses, as it interrupts the flow of work, activities, and network services. It is essential to have professionals to overcome these threat concerns and develop comprehensive security measures and policies to protect their business assets and ensure services continuity and stability. For example, smart kitchen home IoT enabled appliances connected to the local network can be a source of the breach for hackers to get access to the business and/or personally sensitive data or to manipulate and interrupt the business workflow. Every day new technologies emerge, or changes are made to existing ones. Consider the latest advances in the 5G network, for example. 5G is expected to play an essential role in the IoT systems and applications. It is getting the researchers' attention and curiosity about the possible security and privacy risks, with its high frequency and bandwidth.