IoT is a great deal for both people and enterprises, but you should make sure the security programs are able to comply with the new security threats that IoT brings. IoT is growing really fast: research shows that 8.4 billion devices were connected in 2017 and it is predicted that the number will grow to 20.4 billion by 2020.

IoT is so important because it provides more insight, improves customer satisfaction and brings efficiency in activities. All these happen because data provided by devices and power of Internet-based cloud services work together.

The big question is: are IoT devices secure? The answer is: yes, they are, only if you make sure they are secure. In this article, you will find out more about how IoT devices work and how you can make it a safe place.

Economic impact & cyber threats

By 2025, 75.44 billion devices will be connected forming the IoT ecosystem. At that point, ¼ of the world data will be produced in real-time and nearly 95% of the data will be produced by IoT. IoT is not only about data, it is also about money. The economic impact of IoT will be as much as $8.9 trillion in 2020. This is why IoT security is so important. Companies cannot afford a cyber threat.

Cyber thieves are reinventing themselves over and over again. With IoT, they will find a way to reach the important system through the smaller device. Your fridge, for instance, can be threatened by hackers without you even knowing it. The fridge is a gateway to more important security devices in your home.

IoT for industries

The threats are even bigger for industrial IoTs. IoT can improve operational infrastructures and even manufacturing operations, but with bad security, the risk is very high. Hackers already aim high and they go for big wins like national power plants.

Luckily, security is the most important part when it comes to IoT. Programmers still consider security a big concern when setting up IoT projects. IoT is the most important aspect in terms of security. Deploying a new IoT project is hard because you expose yourself to cyber threats through your devices connected to the Internet.

Device security

Before the network, you should secure the devices. Some equipment you have may work unattended and therefore you won’t check on it so frequently. Make that part of the device tamper-proof, so you will block the threats and protect the data. This way you will also stay away from hackers that buy and then weaponize devices.

The best practice so far is to make it harder for hackers to reach your data. How? By having some obstacles that will mislead the attacker. Companies must also secure their vulnerable spots like open TCP/UDP, open ports, web servers or radio connections.

You can also protect your devices by simply making upgrades or deployments for security when needed. Don’t forget that most vendors don’t consider security an important anchor when creating their devices. When you buy devices, check their security methods and test them.

IoT identities are another way to secure your devices. Make sure you know when devices connect to a network and service.

Network security

The next thing you need to secure is your networks. Make sure all the networks you use for IoT devices are secure. Take into consideration using strong user authentication and accessing control mechanisms. This way, you will know only certified users will access the data.

Use complicated passwords that will resist the educated guessing and brute forces. You should also implement a two-factor authentication method.

For IoT apps, you can implement an adaptive authentication: this way you will use contextual data and machine-learning algorithms.

You should also use strong encryption. With IoT, any communication can be hacked so encryption will make it hard for hackers to reach your data.

Protecting the data

Data is the third valuable thing for IoT services. Devices store a lot of sensitive data and communicate at the same time, so data must stay secure. A business with no secured data is a business that can lose even in the short run.

Everybody who will operate your IoT devices should be prepared and you must establish strong security operations policies for them. It may seem something rational, but not all companies take into consideration the security of their devices.

Closing thoughts

IoT, together with AI will be a great deal for businesses, but security is the main factor that decides if your business will grow or fail. If you want to develop an IoT system, we are here to help you. Give us a sing!