Almost Half of Companies Still Can’t Detect IoT Device Breaches, Reveals Gemalto Study
Use of blockchain technology to help secure IoT data, services and devices doubles in a year.
This comes despite companies having an increased focus on IoT security:
- Spending on protection has grown (from 11% of IoT budget in 2017 to 13% now);
- Nearly all (90%) believing it is a big consideration for customers; and
- Almost three times as many now see IoT security as an ethical responsibility (14%), compared to a year ago (4%)
With the number of connected devices set to top 20 billion by 2023, businesses must act quickly to ensure their IoT breach detection is as effective as possible.
Surveying 950 IT and business decision makers globally, Gemalto found that companies are calling on governments to intervene, with 79% asking for more robust guidelines on IoT security, and 59% seeking clarification on who is responsible for protecting IoT. Despite the fact that many governments have already enacted or announced the introduction of regulations specific to IoT security, most (95%) businesses believe there should be uniform regulations in place, a finding that is echoed by by consumers1 95% expect IoT devices to be governed by security regulations.
Jason Hart, CTO, Data Protection at Gemalto, said:
“Given the increase in the number of IoT-enabled devices, it’s extremely worrying to see that businesses still can’t detect if they have been breached.”
“With no consistent regulation guiding the industry, it’s no surprise the threats – and, in turn, vulnerability of businesses – are increasing. This will only continue unless governments step in now to help industry avoid losing control.”