The Internet of Things (IoT) is a network of physical objects or ”things” connected through the internet to transfer data using software, sensors and technology.

IoT security encompasses the processes, protocols and technologies to protect IoT devices and networks. It also includes devices that are not meant for network security, such as smart industrial machines, smart medical equipment, automobiles, entertainment gadgets and personal IoT gadgets like a fitness band or smartwatch that employees bring to work. IoT gadgets are being introduced into organizational and customers’ networks at a stunning rate. While IoT solutions are empowering and energizing new approaches to improve effectiveness, adaptability, and usefulness, they additionally carry a danger to the organization. IoT devices, which are frequently constructed without security, have become a new threat route for cyber criminals to improve their attacks.

Different Layers of IoT Security

Future IoT linked devices will have complicated levels of systems like hardware, firmware, and software functioning at various abstraction levels.  The constituents and actions of the layer are dependent on the layer underneath it. This establishes a security hierarchy and emphasizes the importance of having a solid foundation framework.  For example, the firmware relies on hardware and the operating system depends on firmware.

Standard Security framework

The unfortunate reality is that connected devices are possible targets for cyber attackers looking for unauthorised network access, illicit device control, or IoT users’ data theft. The devices from different organizations have different levels and types of securities that can result in unexpected security flaws and unsafe services. Hence, organizations developing IoT solution should collaborate and develop a basic Standard security framework.

Customer’s Trust

This is already proving to be true. Recent findings of security flaws in the new autopilot system of car models have prompted huge recalls and security improvement to some major automobile companies. The videos of hackers hacking software and controlling cars through poorly secured software systems were all over the news and social media. Users of IoT solutions are worried about the possible consequences of a cybersecurity compromise. It indicates that IoT security market will grow fast with many opportunities.

Customer’s Privacy

The Internet of Things (IoT) market is in the initial phase of growth. The Internet of Things (IoT) sector is quickly evolving and will go through numerous stages of development. Similarly, as the market evolves, issues about the privacy and security of customers will evolve. An IoT gadgets deals with personal information of customers, their purchase history, things they like (preferences), location and behaviour. Patients on IoT based healthcare system would want their personal real-time data to be sent to medical staff like doctors or nurses, not to healthcare insurance companies. As a result, security policies should be multidimensional in order to recognize and respond to potential market disruptions.

It is astonishing that most IoT users have been sluggish to adopt standard cyber security measures already available in the market. Less than 50% of organizations employing IoT claimed they have adopted security solutions like Identity and access management, firewall for DDoS protection, etc. Considering the ubiquity and importance of IoT devices in the future world controlling everything from household devices like lights, fans, ACs and other objects like car, organizations need to start implementing security measures as early as possible.