Providers of security and risk protection software and services for the IoT environment might have their work cut out for them, as the demand for IoT security seems to be increasing at a pace much faster than previously visualized. The rate of cyber-attacks, breaches in data integrity, and even physical assaults on an IoT sphere have been on the rise recently, and users are becoming more and more desperate to employ effective security measures against them. This, of course, will be demanded in the most cost-effective manner possible, and IoT security service providers need to pick up their development pace for it.
The Need for Multi-layered IoT Security
A large number of security providers for IoT are only providing device security. While device security is a must, it is not the end all for IoT security. A successfully secure IoT system will require an approach that is multilayered and is implemented across the chain. The digital businesses in the modern world are required to strike a strong balance between the products that are incorporated in the IoT sphere and the sophisticated protection that is required for them.
Prioritizing IoT Security
The awareness of threats to the IoT devices and technologies is also increasing at a rapid pace and across a number of industry verticals. The implementation of IoT across most of them seems inevitable and even preferred, but companies however, are not willing to spend a lot on security.
Meanwhile, identity management is another growing feature in the IoT security business. It allows admins to manage the number and identities of users who are able to access and operate devices within an IoT environment. This could, however, pose challenges with the growing BYOD culture.