Statistics state that 93% of enterprises will adopt IoT technology and 80% of industrial manufacturing companies will adopt IoT technology leading to the staggering increase in IoT devices. There will be 41 billion IoT devices by 2027.
However, as per the data of CSO Online, 61% of organizations have
experienced an IoT security incident and according to Symantec,
IoT devices experience an average of 5,200 attacks per month.
Every connected device the enterprise or industry adds to the network for functionality or convenience, adds a concern from a privacy, confidentiality, or integrity angle. It can be an attractive target for people who want to make a profit off, of your valuable enterprise data.
The IoT devices can be broadly classified in 3 categories – a data processor, a data collector, or a data correlator.
An Availability attack where the IoT device can affect the network availability and either bring it down partially or fully.
An Integrity attack where the IoT device can manipulate data either corrupting it, encrypting it for the purpose of financial gain or disruption.
A Confidentiality attack where the IoT device can be a backdoor letting a hacker into the network.
These attacks can harm the enterprise causing outage and/or direct or indirect loss of revenue and reputation.
Hence, with IoT taking a centre stage and machines surpassing the humans, the security landscape changes from endpoint security to Security of Things (SoT).
The lack of standards and industry practices set by government
and industry forums and loose compliance by IoT devices exposes
them to security risk.
IoT devices, especially the Industrial IoT devices are made with a
focus on ease of use rather than security, thereby sacrificing security.
The key challenge is that there is no central database of all IoT
devices. The functionality, prerequisites, and network footprint
of the IoT devices. Secondly, the endpoint protection becomes
useless for an IoT device because of the type of hardware it
is usually based on.
The Security of Things, therefore, cannot be on the IoT device.
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