- November 21, 2018
- Posted by: admin
- Category: Uncategorized
Investments in IoT security can have significant positive business implications, a recent survey from DigiCert finds.
IoT business- The IoT era has arrived.
Here’s some proof: 83% of organizations say the Internet of Things (IoT) is important to business today, and 92% say it will be in two years.
That’s according to a recent DigiCert survey conducted by ReRez Research of 700 organizations in five countries to better understand the IoT and IoT security.
Anecdotally, I always find that markets have matured when it’s no longer an unusual thing. For example, a few years ago, it was hard to find IoT deployments that were outside of the traditional machine-to-machine industries such as manufacturing and oil and gas. Today, connected things are everywhere. Case in point: I recently interviewed the IT director at an entertainment venue and he walked me through all the connected things without ever saying “IoT.” The organization was connecting more things to improve customer experience, and it was treated as no big deal.
IoT creates new security risks
The near ubiquity of IoT does raise the security flag, as it presents a significant threat vector for hackers to breach companies. DigiCert’s goal in running the survey was to understand the state of IoT adoption, understand security implications, and quantify the benefits of having made the investments in IoT security. The survey focused on the four industry verticals where IoT was most mature — industrial, consumer products, healthcare, and transportation — and sampled companies of all sizes, with the median size being 3,000 employees.
The survey asked what objective companies were trying to achieve with IoT. The top responses were operational efficiency, customer experience, increased revenue, and business agility. It’s been my experience that businesses that are early in the adoption cycle of IoT are looking to cut costs through automation, which leads to better efficiency, but they quickly pivot to customer experience as a way of creating new revenue streams.
The survey also asked about the top concerns regarding IoT, and security was the top response. This should be no surprise, as IoT devices create new entry points.
DigiCert segmented the users into three tiers based on their level of IoT security success:
- Top tier – Businesses that are having the least problems and are less likely to report having IoT security problems
- Middle tier – Organizations that are having some problems with IoT security
- Bottom tier – Companies that are having the most IoT security problems
Each group made up about one-third of the survey, creating nice distribution to analyze the differences between them.
Bottom-tier businesses have significantly more security challenges
DigiCert then compared the top and bottom tiers to quantify the benefits of investing in IoT security. For bottom-tier enterprises, it found they are:
- 38% more likely than top-tier enterprises to rate “Lack of appropriate IoT security-specific skillsets within their organization” as somewhat to extremely challenging
- 27% more likely to find Privacy challenging
- 26% more likely to find Scalability challenging
- 17% more likely to find Security challenging
- 17% more likely to find Lack of standards for security in IoT challenging
- 13% more likely to find Regulation more challenging
Top-tier enterprises experience fewer security incidents
The survey drilled down into actual security events. One interesting data point is that just under one-third of the top-tier saw any incidents at all. Juxtapose this with bottom-tier organizations that saw 100% of companies experience at least one incident, and it should be clear that the security investment can have big pay backs.
Read More Here
Article Credit: NW
The post Securing the IoT has become business-critical appeared first on erpinnews.