Organizations of all types and sizes must devise a sound strategy for locking down and securing their IoT devices. There is no doubt that they will continue to face all sorts of challenges when trying to create these security solutions in house. IoT security threats continue to increase in complexity and will constantly evolve. Recent findings from 451 Group’s report 4Sight report: As Infrastructure Becomes Invisible, We are All Service Providers, show that 57% of organizations face skills shortages and lack cloud expertise in areas such as architecture, operations, and mainly security. This skills shortage, combined with the complex threat landscape portends good news for Managed Security Service Providers (MSSPs) who choose to focus on IoT-specific security services. The following blog cites some good market research studies that support this.
It’s official. There are officially more IoT devices than humans in the world. And by 2020, there will be twice as many of them than us. It can be a sobering thought, especially if you’ve ever seen the 1980s Stephen King movie Maximum Overdrive, where the machines came alive and turned homicidal. And according to a recent study by Gemalto, 90% of consumers said they don’t have confidence in IoT security. Furthermore, the study found that only 50% of companies have adopted a “security by design” approach, and more than half of consumers have concerns about their IoT devices being hacked or their data stolen. So maybe I’m not alone in my fears?
Even scarier is the fact enterprise security breaches are happening more often, with more brute force and at higher costs. There are an average of thirteen enterprise security breaches every day, resulting in roughly 10 million records lost a day—or 420,000 every hour. Security researchers are quick to point out the vulnerabilities of connected devices and the potential harm of connecting to a device that has not been properly secured.