Top 6 IoT Security Threats
With the advent of connected cars, homes, wearables and many more, Internet of Things (IoT) gains momentum. The number of connected devices is expected to reach 50 billion by 2020. I have already discussed the wide scope of IoT in my previous blog. The proliferation of IoT is opening the market for IoT Security products as the embedded operating systems of all IoT devices are highly vulnerable. Henceforth, Gartner predicts IoT Security spending to reach $348 million in 2016.
Here comes up the top 6 IoT Security threats to consider
#1 DOS and DDOS Attacks
Cyberattacks like Denial of Service and Distributed Denial of Service are jeopardising the enterprises. Multiple IoT devices when fail in accessing corporate website of data feed that appears to be unavailable, leads to dissatisfied customers, loss of revenue and poor market acceptance.
#2 IoT Vulnerability Management
IoT devices connect to an in-built web server which in turn is connected to all other administrator systems. Compromise of these devices can put the enterprise into attacker’s hand. A firmware update becomes essential for quick Vulnerability Patch Management.
#3 IoT Security Control Implementation
In today’s IT space where redundancy is critical, one product fails to give stage to the other. Accordingly, it is important for enterprises to identify security controls, layer IoT security and redundancy for effective risk management.
#4 Security Analytics
An IoT device must have actionable threat intelligence measures to identify threat, fraud, piracy and malicious traffic patterns. So, enterprises need to develop the right set of tools and processes based on best analytical algorithms to detect malicious actions and improve customer satisfaction.
#5 Increased Bandwidth Demand
With increase in demand for Internet, business continuity risks continue to grow at a rapid pace. When applications fail to get their required bandwidth, users no longer have a streamlined experience. Henceforth, both employee productivity and enterprise profitability suffers.
#6 IoT Hardware
As a replacement to highly expensive artificial intelligence (AI) and behaviour analysis approaches in IoT Security applications, secure processors take over the stage. Secure processors work on the concept of accelerating processing unit (APU) integrating a coherent memory structure for both CPU and GPU inside the processor.
As the next evolution of computing, the IoT market will be bigger than all previous computing markets and we aim to achieve secured IoT that is going to augment our brain.