Security remains a primary concern for businesses as IoT adoption continues to grow rapidly. The market for IoT security solutions is driven by 20% annual growth, according to a 2020 report from Gartner, with industries such as manufacturing, automotive, and transportation leading in spending.
Companies that aren’t investing in IoT security solutions for their deployments are putting their IoT devices and the data they transmit at risk — and that risk is both serious and costly. According to SecurityBrief, data breaches can cost companies an average of $3.86 million per breach and its estimated that 80% of those breaches result in customer's personal identifiable information (PII) being exposed. IoT security solutions help protect digital assets by preventing unauthorised access, encrypting data, and monitoring network traffic.
One of the biggest risks to an IoT solution’s digital assets is unauthorised access that allows sensitive data to end up in the wrong hands. Unauthorised device access can sometimes result in the costly theft of devices and SIMS, but data access and routing can be detrimental too. Rule-based actions and notifications based on destination IP addresses, protocols, and ports can help prevent unauthorised access and keep digital assets secure.
Data from IoT devices need to be secured both when it’s in transit and at rest. Data encryption is critical for any IoT solution that collects and processes sensitive information. IoT security solutions should include AES-256 encryption of traffic and files, along with around-the-clock monitoring for immediate threat detection.
Lack of visibility into network traffic puts digital assets at risk by compromising IoT security. Real-time network traffic monitoring allows for the immediate detection of devices that have been compromised. IoT security solutions with network monitoring should also be able to detect network outages, network traffic bursts, and denial-of-service attacks. This empowers businesses to take immediate action to prevent unauthorised access to sensitive data.
KORE leverages its expertise to secure IoT devices and the important data they generate with a suite of solutions that includes virtual private networks, mobile device management, and SecurityPro, an award-winning IoT security solution that provides in-depth visibility. This visibility provides the actionable intelligence businesses need to protect IoT devices and digital assets from potential threats.
To learn more about the primary threats to IoT deployments and how to monitor and manage network traffic, download our eBook “Successful Security Strategies and Deployments” from KORE and Beecham Research.
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