Digital security expert Gemalto has revealed its latest research shows that only around half (48%) of businesses can detect if any of their Internet of Things (IoT) devices suffers a breach.
This is despite the UK Government introducing the IoT security code of practice for manufacturers and developers last year.
Gemalto said that the voluntary practice isn’t having the desired impact, with consumer data continuing to be put at risk.
In an increasing sign that this isn’t just a UK issue, organisations worldwide are seeking help when securing the IoT, with most businesses (95%) in the global study asking for more security regulations in the IoT industry.
The study found IoT security has grown in importance for businesses globally, with:
- Nearly all (90%) businesses believing it is a major consideration for customers;
- Spending on protection has grown (from 11% of IoT budget in 2017 to 13% in 2018); and
- Almost three times as many now see IoT security as an ethical responsibility (14%).
Gemalto said that 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.