The Internet of Things is within the top five on the leaderboard for information security threats heading into 2018. Clearly not surprising for anyone following the IoT market. There are multiple angles being taken across the industry to secure connected devices; however, no single standard has been adopted yet. Forums across the world are pulling experts together to develop security standards. The challenge is the rate in which the industry is moving to close the major gaps that exist today.

A recent study by BusinessInsider.com¬†highlighted a few key concerns among consumers planning Holiday purchases this year…

  • Consumers are more cautious about smart-home devices than other Internet of Things gadgets, a new survey found.
  • Consumers’ hesitation about connected-home devices stems from concerns about privacy and security.
  • Few of those surveyed felt gadget makers were doing a good job of informing them about the security risks posed by the devices.

As we have stated in recent articles, the threat of companies not filling the security and privacy gap is a slowdown in the adoption rate of the IoT across industries. As innovators and early adopters within an emerging market, the category needs to become more sophisticated. In order to do this, larger companies will need to invest substantial sums into security and privacy systems that shape the overall market standard. Without big players making these over-weighted investments, the growth of the IoT will be slower.

An article from ITWorld.com stated,

Organizations are increasingly adopting IoT devices, but most IoT devices are not secure by design. Additionally, the ISF [Information Security Forum, a global, independent information security body that focuses on cyber security and information risk management] warns there will be an increasing lack of transparency in the rapidly evolving IoT ecosystem, with vague terms and conditions that allow organizations to use personal data in ways customers did not intend. On the enterprise side, it will be problematic for organizations to know what information is leaving their networks or what data is being secretly captured and transmitted by devices like smartphones and smart TVs.

 

Security and data privacy is a major concern and requires the resources of larger enterprises to pave the way forward. Which enterprises will step up to the plate to hit a home run for the IoT market?


Also published on Medium.


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