The Internet of Things (IoT) market opportunity is growing at an increasing rate. By the end of this year there could be as many as 8.4 billion connected “things,” while spending on IoT services and endpoints is set to reach almost $20 trillion in 2017, according to Gartner.
Although the numbers are impressive, the real question isn’t “why IoT?” – but rather how to secure it.
How will enterprises not only get IoT devices and services to market quickly, but actually integrate and leverage the technology securely? It’s something enterprises have to sort out, and fast.
Nearly half of the business executives surveyed by Genpact Research Institute and IndustryWeek said they feel industrial IoT increases their susceptibility to cyber attacks.
As security remains a top concern for any new technology, when it comes to IoT the stakes are high. A recent study revealed 90% of consumers expect security to be built into IoT devices.
With the inherent cyber security challenges that come with the connectivity IoT fosters, the pressure is on for enterprises to support ecosystems that are sufficiently secured throughout the entire product lifecycle.
The question remains, how do enterprises get there? Here are three steps organisations can take on the path towards more secure IoT infrastructures.
>See also: It’s time to take IoT security seriously
Establish a trusted ecosystem. Creating a trusted, connected ecosystem starts with control. Organisations should restrict network access to only those devices, applications and users who can be trusted, while making sure they are only performing authorised actions. Enabling secure channel access will also ensure devices have on-demand security upgrades and data updates, supporting a future-proof solution.
Secure outcomes. Whether data is in use on a device or being transmitted elsewhere, it must be secure and safeguarded from cyberattacks. With custom cryptographic protections and strong authorisations, the right security level for each device can be established and only authorised commands can be acted on.
This will also help the ecosystem meet compliance and privacy regulations that require data which is rendered unintelligible to unauthorised users through encryption.
Leverage what’s there. Bringing together a company’s devices and services with security and trust support is something that should be done quickly. A company’s infrastructure can be used to ensure data is securely reaching data hubs, decision points or cloud services through backend system connections.
To establish security throughout the entire lifecycle of a device, organisations can build trust anchors within the manufacturing process, along with pertinent device information.
>See also: Managing and securing the Internet of Things
Secure-by-design connected ecosystems are crucial for IoT solutions. However, overcoming fundamental IoT challenges, such as securing data and control without impacting uptime across the ecosystem, is no easy feat.
It can be difficult to transport data between ICS and the enterprise data hub in a safe manner, while also maintaining controls, like identity-based controls and apps that respond to commands.
Enterprises are in need of solutions that can support secure IoT ecosystems – comprised of trusted devices, applications and identities – while enabling secure access to IoT data.
This can not only unlock business value and drive new opportunities, but ensures enterprises have a competitive advantage as more companies begin to incorporate IoT.
Fortunately, the speed to capitalise on the IoT boom doesn’t have to compromise quality and security. With the right go-to-market strategies, enterprises can optimise their solution’s time-to-market while also accelerating deployment – ensuring their IoT infrastructure remains both connected and secure.
Sourced by Anudeep Parhar, chief information officer, Entrust Datacard