There are various elements that throttle the speed of Internet of Things adoptions and advancements but one of the most significant revolves around security.
Most companies involved in creating IoT devices, platforms and strategies at least acknowledge security is paramount for consumer adoption over the long haul.
Each time there’s a security breach of any magnitude, whether learning that a child’s Internet-connected toy has been breached or a smart home appliance was tapped by outsiders, consumer confidence can be rocked just enough for them to hold off for now.
Despite the obvious need for IoT security, there are several market indicators that there’s still some work to be done.
For example, most (90%) organizations don’t have a cybersecurity strategy for the Internet of Things, according to the new Cybersecurity Preparedness Benchmarking Study by the Berkeley Research Group (BRG). Most (86%) also don’t have a strategy to deal with big data.
As another benchmark, many shortcomings were found in a host of connected devices.
A total of 47 new vulnerabilities were discovered across 23 different devices from 21 brand manufacturers, according to a report from the second annual IoT Village held at DEF CON 24.
Manufacturers involved include Samsung, Subaru, Trane, QuickLock and Elecycle.
One researcher found that three quarters (75%) of smart locks he checked could be compromised, meaning someone potentially could gain access to someone’s house.
The good news is that the security flaws are being uncovered so they can be identified and fixed.
Despite security issues, the global Internet of Things market is projected to grow 36% a year from now until 2020, according to a new forecast from Infinity Research.
Part of the process for security involves testing, and it looks like there also are shortcomings in that arena.
This could be cultural. It turns out that most (85%) businesses across several industries say that IoT products are part of their operations but 68% of them don’t have a testing strategy for them, according to a new report from Capgemini.
Testing for security is one of the key quality aspects businesses should test for, according to the report.
The risk in all of this for brands is that a security issue could be uncovered well after mass marketing has begun and countless consumers have the relevant products or products already connected in their homes.
And that could slow the Internet of Things even more.