A new survey from Gemalto shows that Internet of Things (IoT) security concerns are deepening. The survey, which asked 1,050 IT and business decision makers and 10,500 consumers what they thought about the state of IoT security yielded some surprising results.
96 percent of businesses and 90 percent of consumers in the survey believe there should be IoT security regulation. 61 percent of businesses also feel IoT regulations should include who is responsible for securing data at each stage of the journey. A pro-regulation stance from business is likely to surprise many people, but data in the report shows that a lack of trust from consumers makes the case for a minimum security standard.
In addition, survey results show that only 33 percent of businesses believe they have complete control over the data that their IoT products and services collect as it moves from partner to partner, potentially leaving data unprotected at some stages of its journey. Without clarity about how and where data is being transmitted, government contractors selling IoT may run into significant difficulty passing security audits.
While the survey didn’t ask directly about insurance, the findings also highlight a new problem for enterprises. Insurance providers, state governments, and businesses have been grappling with how to craft cybersecurity insurance policies designed to support business continuity efforts. Without a minimum standard of security across all devices, cybersecurity insurance is likely to remain expensive and highly customized.
Report authors argue that a national policy framework for IoT would go a long way towards improving consumer and business trust in the sector. The findings follow a report released Last week which came to the same conclusions. In that report, researchers from the Center For Data Innovation argue that a national policy for smart cities would improve technology adoption and network consistency. Smart cities programs are typically supported by an array of IoT devices collecting and providing information on mobility and usage patterns in a given area.
The full Gemalto survey is available here.