Around (65 pc) of consumers fear that hackers will take control of their devices, more than data being leaked (60 pc) or personal information being accessed (54 pc)
Research from Gemalto, a digital security company said that (96 pc) of organisations and (90 pc) of consumers believe there is a need for internet of things (IoT) security regulations.
Around (65 pc) of consumers fear that hackers will take control of their devices, more than data being leaked (60 pc) or personal information being accessed (54 pc).
More than half (54 pc) of the consumers said that they own an IoT device, but only (14 pc) knew how to protect it.
Only 11 per cent of manufacturers and service providers spend their total IoT budget on securing their devices. Two thirds of organisations use encryption as their main security, with (62 pc) encrypting data as soon as it hits the device and (59 pc) as it leaves it.
The survey found a link between security and adoption with 92 per cent of companies reporting an increase in sales or product usage after devices have been made more secure.
Furthermore, 61 per cent of businesses said regulation needs to be greater to specify who is responsible for security and data at each stage of its journey. However, 55 per cent said safeguards are needed for ensuring non-compliance with security.
Overall, 90 per cent of consumers and 86 per cent of businesses said that the governments should handle regulation of the sector.
Lack of end-to-end capabilities leading to partnerships
More businesses realise that they need support in understanding IoT technology and are turning to partners for help, with cloud service providers 52 per cent and IoT service providers 50 per cent the favoured options. When asked why, the top reason was a lack of expertise and skills (47 pc), followed by help in facilitating and speeding up their IoT deployment (46 pc).
Gemalto data protection CTO Jason Hart said: “It’s clear that both consumers and businesses have serious concerns around IoT security and little confidence that IoT service providers and device manufacturers will be able to protect IoT devices and more importantly the integrity of the data created, stored and transmitted by these devices.”
With legislation like GDPR showing that governments are beginning to recognise the threats and long-lasting damage cyber-attacks can have on everyday lives, they now need to step up when it comes to IoT security. Until there is confidence in IoT amongst businesses and consumers, it won’t see mainstream adoption.”