Various industries are making the shift to IoT, thanks to its efficiency, ease of use, and cost-effectiveness.
With the proliferation of IoT devices comes security issues associated with smart devices. According to Kaspersky, 1.5 billion attacks occurred on smart devices during the first half of 2021. Threat actors were keen on stealing data, building botnets, and mining cryptocurrency.
Security issues within the smart ecosystem pose challenges and opportunities for both IoT service providers and mobile network operators and IoT service providers. How does safety and security fit in a smarter and more connected experience?
Increasing demand for security
IoT devices broaden the attack surfaces of operational networks because of the vulnerabilities present within the system. Both consumers and manufacturers are unaccustomed and not properly equipped to keep their devices secure.
Threat actors seek to exploit data privacy, integrity, and the overall operation of devices and networks. Moreover, IoT adoption has presented additional security challenges such as large-scale device upgrades and unsecured legacy infrastructure.
Research and Markets, a leading research firm, estimates that the critical infrastructure protection (CIP) market will grow to USD 152,289 million by 2025.
Greater dependence on IoT devices
Cellular IoT devices require high-speed mobile connectivity, particularly 5G networks. The automotive, energy, and manufacturing industries are expected to be the primary adopters of 5G connectivity and AI-enabled IoT systems. Kaspersky Labs also reports that IoT adoption in the healthcare, hospitality, and finance sectors have grown significantly since 2018.
The cellular network, which supports cellular IoT and M2M connectivity, can also present challenges in keeping IoT devices secure. This is most evident in the Industrial Internet of Things (IIoT) and smart cities, where the use of IoT directly impacts operations.
Mobile network operators also have an opportunity to monetize IoT security. As an example, the telecommunication industry in India is championing the adoption of IoT, through the acceleration of 5G trials.
With mobile-connected IoT devices becoming a key building block for present and future technologies, more stringent security measures are increasingly necessary. Users and manufacturers must exercise due diligence to ensure that their devices and sensitive information are safe and secure at all times.