How vulnerable IoT devices are changing the cybersecurity landscape

BI Intelligence

Everyday devices are increasingly being connected to the internet. And early research has shown that these devices — including connected cars, smart home devices, and wearables — often lack basic security protections to ward off hackers. This was demonstrated this past summer when security researchers took control of the steering and transmission of a Jeep Cherokee traveling 70 miles per hour on the highway.

This type of hack helps draw media attention to the dangers involved with vulnerable IoT devices, but it doesn’t illustrate all the ways that hackers can use these vulnerabilities in the real world. Hackers could potentially crash a compromised car, but they are more likely to exploit IoT devices to gain entry to corporate and government networks and databases.

BI Intelligence’s new IoT Security report examines how vulnerable IoT devices will create new opportunities for different types of hackers. We also forecast the market for solutions that can help secure IoT devices, and explain how different security measures can be used to protect these devices against hackers.

Here are some of the key takeaways:

• Research has repeatedly shown that many IoT device manufacturers and service providers are failing to implement common security measures in their products.

• Hackers could exploit these new devices to conduct data breaches, corporate or government espionage, and damage critical infrastructure like electrical grids.

• Investment in securing IoT devices will increase five-fold over the next five years as adoption of these devices picks up.

• Traditional IT security practices like network monitoring and segmentation will become even more critical as businesses and governments deploy IoT devices.

In full, the report:

• Explains why IoT devices often lack basic security measures like properly encrypting communications.

• Forecasts the market for solutions that help secure IoT devices against attacks.

• Examines how different types of hackers could exploit IoT devices for financial gain, media attention, or to further a geopolitical cause.

• Explains how organizations can secure IoT devices at both the device and network level.

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