Connecting a smart device digitally to a network infrastructure forms an environment commonly referred to as Internet of Things. It has many benefits. For instance, we can do some great things we never imagined earlier. However, there’s a rider attached to it – the network can be breached. This has made network infrastructure a potential target for cybercriminals.
The advent of IPv6 and widescale deployment of Wi-Fi networks saw IoT unknowingly becoming a tool for cybercriminals, with IoT ransomware becoming very much real. Although the situation seems worrisome, it is still possible to secure networks, enhance productivity, and protect customers even in this evolving digital landscape. The Microsoft Secure Blog outlines certain facts about the security trends in IoT.
The report emphasizes IoT security requires a proactive and strategic mindset, and the first step is to understand IoT security trends. Microsoft acknowledges risks associated with managing such a diverse environment as network infrastructure is extensive and quite challenging too. This prohibits many organizations to tap into the power of the IoT (Internet Of Things). In order to be successful, it is essential for companies and enterprises to secure their networks, and protect customers.
The first security trend Microsoft page outlines, is the use of mobile devices. IoT enables company employees to generate, store and retrieve data that is immensely useful for their work, irrespective of location. So, it is important for them to keep the data in safe hands and ensure it is not misused.
The second trend uncovers possibilities IoT is capable of offering to enterprises as well as hackers. Microsoft predicts that over 10% of IT security budgets or more will be spent on IoT by 2020 as it notices an upward trend in the rise of threats.
In addition to the above, Microsoft notes, that the widespread use of web apps and smartphones has enabled the development of target-rich IT environments. This, in turn, has led to an increase in the percentage of network breaches stemming from weak credentials. There was a 78% year-over-year growth of cyber security breaches during the year, and 15-20% of the internet’s value was extracted by cybercrime.
The last key IoT security signals a worrying trend. It reveals persistent efforts of hackers yielded results. Although revelations are alarming, the report ends on a good note. It believes it is possible to secure networks, enhance productivity, and protect customers in this evolving digital landscape.
Click on the image to see the Infographic is large in size.
All predictions made are based on the statistical figures conducted by Microsoft a survey.
For more information, visit Microsoft.
This Consumer Guide to Internet of Things (IoT) from BullGuard talks of how to secure Internet of Things and IoT devices and more. You might want to take a look at it.