Netherlands Almost Half Tender

Gemalto the world leader in digital security can today reveal that only around half 48 of businesses can detect if any of their IoT devices suffers a breach. This comes despite companies having an increased focus on IoT securitySpending on protection has grown from 11 of IoT budget in 2017 to 13 nowNearly all 90 believing it is a big consideration for customers andAlmost three times as many now see IoT security as an ethical responsibility 14 compared to a year ago 4With 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.Given the increase in the number of IoT-enabled devices its extremely worrying to see that businesses still cant detect if they have been breached said Jason Hart CTO Data Protection at Gemalto. With no consistent regulation guiding the industry its 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.Security remains a big challengeWith such a big task in hand businesses are calling for governmental intervention because of the challenges they see in securing connected devices and IoT services. This is particularly mentioned for data privacy 38 and the collection of large amounts of data 34. Protecting an increasing amount of data is proving an issue with only three in five 59 of those using IoT and spending on IoT security admitting they encrypt all of their data.Consumers are clearly not impressed with the efforts of the IoT industry with 62 believing security needs to improve. When it comes to the biggest areas of concern 54 fear a lack of privacy because of connected devices followed closely by unauthorised parties like hackers controlling devices 51 and lack of control over personal data 50.Blockchain gains pace as an IoT security toolWhile the industry awaits regulation it is seeking ways to address the issues itself with blockchain emerging as a potential technology adoption of blockchain has doubled from 9 to 19 in the last 12 months. Whats more a quarter 23 of respondents believe that blockchain technology would be an ideal solution to use for securing IoT devices with 91 of organisations that dont currently use the technology are likely to consider it in the future.As blockchain technology finds its place in securing IoT devices businesses continue to employ other methods to protect themselves against cybercriminals. The majority 71 encrypt their data while password protection 66 and two factor authentication 38 remain prominent.Hart continues Businesses are clearly feeling the pressure of protecting the growing amount of data they collect and store. But while its positive they are attempting to address that by investing in more security such as blockchain they need direct guidance to ensure theyre not leaving themselves exposed. In order to get this businesses need to be putting more pressure on the government to act as it is them that will be hit if they suffer a breach.