New 2019 Global Survey: IoT-Focused Cyberattacks are the New Normal

Irdeto

Eight in ten organizations have experienced a cyberattack on their IoT devices in the past 12 months, according to new research by Irdeto. Of those organizations, 90% experienced an impact as a result of the cyberattack, including operational downtime and compromised customer data or end-user safety. This demonstrates the security limitations of many IoT devices and the need for organizations to think carefully about a cybersecurity strategy amidst an IoT deployment.

The Irdeto Global Connected Industries Cybersecurity Survey of 700 enterprises in five countries (China, Germany, Japan, UK and US) also found that organizations in transport, manufacturing and healthcare have suffered substantial losses due to IoT-related vulnerabilities, with the average financial impact as a result of an IoT-focused cyberattack identified as more than $330,000 USD. With IoT in its relative infancy across these sectors, this substantial financial burden is only going to increase if action is not taken.

However, it’s not all gloom and doom for these sectors. Of those surveyed, 99% agree that a security solution should be an enabler of new business models, not just a cost. These findings suggest that the previous mindset of IoT security as an afterthought is changing.

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