Three-Quarters of Firms Admit Sub-Optimal IoT Security

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Global businesses have become more risk aware as they deploy IoT projects, but over three-quarters (77%) admitted that these systems could be more secure, according to Inmarsat.

The satellite communications company polled 450 individuals responsible for delivering IoT in their respective organizations around the world, to compile its report, Industrial IoT in the Time of COVID-19.

The most commonly cited security challenges were an external cyber-attack on IoT systems (50%), poor network security (49%), insecure or unencrypted edge networks (44%) and employees mishandling data (44%).

Yet elsewhere, there has been progress: nearly half (48%) of respondents claimed to have an IoT security policy in place, versus 32% in 2018.

More businesses are also plugging in new security solutions (46% versus 33% in 2018) and creating an external IoT security policy for suppliers and partners (41% compared to 29% in 2018).

Unsurprisingly, those with a formal IoT strategy in place are more likely to deploy security measures, and if projects are driven from the top-down, purchasing decisions are more likely to include upgrades to security technology, the report found.

Inmarsat claimed there has been a flurry of IoT activity over the course of the pandemic, as organizations across the globe look for new ways to manage production, distribution and delivery more efficiently across global supply chains.

“With nearly four in five respondents reporting their organization’s IoT security could be more robust, many businesses clearly continue to face serious security challenges in their IoT deployments,” said Inmarsat Enterprise president, Mike Carter.

“The accelerating speed of IoT adoption over the course of the COVID-19 pandemic has brought with it a proliferation of security concerns, given the increasing number of potentially vulnerable endpoints associated with IoT projects. Comparing our latest results with our 2018 IoT survey, security risks are growing, but businesses are becoming more aware of cybersecurity threats and doing more to respond.”