Almost Half of Companies Still Can’t Detect IoT Device Breaches, Reveals Gemalto Study

Use of blockchain technology to help secure IoT data, services and devices doubles in a year. Gemalto can today reveal that only around half (48%) of businesses can detect if any of their IoT devices suffers a breach. This comes despite companies having an increased focus on IoT security: Spending on protection has grown (from 11% of IoT budget in 2017 to 13% now); Nearly all (90%) believing it is a big consideration for customers; and Almost three times as many now see IoT security as an ethical responsibility (14%), compared to a year ago (4%) With the number of connected devices set to top 20 billion by 2023, businesses must act quickly to ensure their IoT breach detection is as effective as possible. Surveying 950 IT and business decision makers globally, Gemalto found that companies are calling on governments to intervene, with 79% asking for more robust guidelines on IoT security, and 59% seeking clarification on who is responsible for protecting IoT.