IoT is not a new thing today; it already exists a few years back. But the way it’s impacting our life creates a massive difference in living our dream life and the way we were living before a decade.
IoT technology is evolving, so is development in IoT apps, and there is the enhancement in security challenges and issues. So, there will be less fraud and more trust among the people.
For the first time in 2017, the Internet of Things (IoT) reached $1000 billion in revenue, and the forecasts say that it will grow around $1.8 trillion by 2025 through forecasting, which is massive in number and shows the demand for IoT in the coming years.
IoT Security Getting Exposed For Multiple Vulnerabilities
IoT security and operations
The majority of the organizations across e-commerce, healthcare industries, and utility sectors have deployed IoT and operations. It exposes them to cyber risks and attacks.
Many IoT devices and apps have vulnerabilities, and it’s tough to overcome or patch them. Sometimes they are insecure to use in communications for various protocol issues.
In organizations, they have multiple users who use numerous devices. It's where they connect to the networks without valid authorization. So the organizations have lesser visibility and no-full control over the devices and get exposed to the risks.
According to the recent survey and statistics: 90% of the respondents said their organizations use shadow IoT devices on their list of devices. And 44% states that they have more than half of the IoT devices connected without proper IT protocols.
Less than 10% said that they have fully implemented the device with IoT security solutions. And you will feel surprised to hear that 55% have no IoT security at all. It ultimately exposes the risk of IoT security.
The Growing Demand for IoT Technology Accepting Multiple Risks
IoT ecosystem: network thread
Due to soaring attacks on websites and dedicated apps, IoT devices and networks are globally exposed to personal and professional data. It demands the most advanced and comprehensive security that can easily track and identify vulnerable IoT devices and raise consequence cyber threats.
The use of IoT devices is rapidly growing and will cross the landmark of 41.6 billion by 2025 through time series analysis. Cyber hackers keep on targeting, so to enhance security and trust, organizations are always looking for an easy way to strengthen the IoT security at a higher priority.
For that, multiple layers of efforts to get added on risk assessment, network segmentation, and threat prevention from most sophisticated cyber attacks.
(Must check: Top IoT examples)
A Sneak Peek Into The Five Biggest IoT Security Expose of 2020
One of IoT security issues: Information Leak
With the number of IoT devices increasing, it’s also open to multiple risks in various ways. Cyber attackers breach the security going to the threshold limit, exposing everything to the world.
Later, it became the biggest scam that breakdown trust factors and device use. Then programmers update the security level. And there always continues a never-ending war between programmers and hackers.
Let us dive in for the sneak peek into the five massive IoT expose of 2020
Weak and Guessable Passwords Leaks Everything
For making the work easier for the organization and customers, many organizations have automated the processes and provide preset credentials directly into the mail. Though many customers change it, a few prefer to have it the same way they got it. And those who change the password; keep it weak and easily guessable for hackers to breach the data and expose it.
Untrustable/Unsecured Network Services Breach Data Privacy
IoT devices are best for inter-networking capabilities that allow the devices to connect themselves through a secured internet connection. But with the modded version of premium apps and insecure networks, sensitive data gets easily leaked. And the authentication process gets bypassed leads to severe data breaching.
Inefficient Update Mechanism Expose Device Vulnerability
Every device needs regular updates in the software version and security patch too. But companies stop that too after a year of the purchase. Or come up with real-time updates to each device when they are out in the market. IoT devices could be running outdated versions, or there could be code vulnerabilities in premium apps as fake users. Therefore, security patch delivery and monitoring are a must for every IoT device and apps.
Improper Data Storage And Transfer To Other IoT Devices
To keep IoT devices secure: the first note is your data to get secured. Even if the IoT technologies are robust, many users fail to encrypt data within the IoT ecosystem. The crucial data can get stolen for storage purposes while transits or during data processing. And ask for complete full access control when managing a wide range of devices.
Lack Of Privacy Protection Spill Out The Personal Data Over the Internet
IoT devices are the storehouse of personal data; they use these data to give personalization effects so that customers feel more connected and valuable. But there are hackers everywhere, and they bypass built-in security features and additional protocols to access personal data and steal the sensitive ones which are yet to get encrypted. This way, personal and sensitive data gets leaked, and users face the consequences.
(Similar blog: Cybersecurity in IoT World: 5 Types of Threats in 2020)
With so many technologies around the world: and the growth of smart devices every day, IoT is the new face of today and tomorrow. This technology makes humans act smartly, make their life easy, but at the same time, it is also at risk.
Some additional measures can seal the security risks, strengthen the IoT ecosystem, and build more trust if we can look into the five crucial issues and security risks that IoT got exposed in 2020 and how we can overcome them. Although a lot of steps have already been taken, we always want faster and accurate results.