The State of IoT Security

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The team at Securolytics is excited to present the first of our blog series on IoT Security.

There is no Technology Security issue that has more people talking and businesses struggling for solutions. Why? Simple- IoT is a real security risk for businesses and no one is predicting that the need for IoT security is slowing down soon. There are estimates that there will be in use- 20 billion total IoT devices by 2020.

 

IoT innovations are taking place in both consumer-focused and business-to-business (B2B) industries. International Data Corporation (IDC) estimates that “the worldwide IoT market will grow from $655.8 billion in 2014 to $1.7 trillion in 2020. Devices, connectivity, and IT services will likely make up two-thirds of the IoT market in 2020, with devices (modules/ sensors) alone representing more than 30 percent of the total.”

 

IoT security measures or lack thereof

Today, unfortunately, most businesses today have a difficult time moving forward with IoT security because they can’t even figure out where or how many connected devices they’re dealing with. Plus, the worries don’t stop there

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Per the newest Spiceworks “2016 IoT Trends” survey:

  • “Topping the list of security concerns is the fact that IoT devices create more entry points into the network (84%).
  • About three-quarters of IT pros are also worried that IoT manufacturers aren’t implementing sufficient security measures.
  • Those surveyed also worried that IoT manufacturers are not putting proper security measures in place (70%).”

 

Here’s a closer look from HP’s Internet of Things State of the Union Study which revealed 70 percent of the most commonly used IoT devices contain vulnerabilities.

 

Their study results included:

  • “90 percent of tested devices collected at least one piece of personal information via the product itself, the cloud or its mobile application.
  • 80 percent of IoT devices tested, including their cloud and mobile components, failed to require passwords of sufficient complexity and length, and most devices allowed passwords such as “1234.”
  • 70 percent of IoT devices analyzed did not encrypt communications to the Internet and local network, while half of the devices’ mobile applications performed unencrypted communications to the cloud, Internet or local network.
  • 60 percent of devices did not use encryption when downloading software updates.
  • 60 percent of devices raised security concerns with their user interfaces”

 

Not to worry! Securolytics to the Rescue

The good news is that many businesses are finding that much of the infrastructure they need for IoT applications is already in place. They just need the behavioral and proactive tech platform. Securolytics is in the forefront of this solution with www.zerotosecure.io. It is cloud-based threat detection and analytics platform purpose-built to address gaps in perimeter-based defenses by identifying the symptoms of a data breach, malware infection and criminal activity through behavioral analysis and anomaly detection. And we do it all without the need to deploy additional hardware or software.

 

Contact us today

What better time than now to get started on securing your business from IoT breaches..  If you have any questions or comments please don’t hesitate to get in touch. We look forward to discussing the State of IoT for the next months.

 

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