The predicted burgeoning rise of IoT and IIoT adoption in the global enterprise is becoming a reality year after year. By 2022, businesses will have spent a trillion dollars on IoT, and by 2025, the world will witness 75 billion connected IoT devices, with one-third in use for industrial IoT, notably in manufacturing applications.
The advent of IoT and IIoT has, without doubt, accelerated businesses in data-driven insights and helped expand into newer trajectories. However, just like every other emerging technology, IoT and IIoT capabilities come with their own set of challenges.
“Security” has emerged as a significant challenge, primarily due to the sheer volume of connected devices that it encapsulates.
On May 7, 2021, the United States encountered the largest oil pipeline cyberattack recorded in its history. Colonial Pipeline, based out of Houston, Texas, was a victim of a ransomware attack with perpetrators demanding $5 million as a ransom — 100 Gigabytes of data was also stolen from company servers.
Major hospitals such as the St. Lawrence Health Systems and Sky Lakes Medical Center were also infiltrated, leading to data theft and disruption of medical services.
In their latest report, leading cybersecurity firm Kaspersky stated that more than 1.5 billion attacks have occurred against IoT devices in the first six months of 2021.
This article finds common vulnerabilities for IoT and IIoT and the best ways to address them to protect businesses and networks.
Hackers are increasingly getting sophisticated by the day, using the same tools, technology, and AI capabilities leveraged in making these systems. Of the numerous forms of intrusions that can happen to IIoT and IoT, 40% of breaches are malware or brute-force attacks. Due to the multiple ways that devices can be accessed, four tiers are considered and recommended while viewing the IoT and IIoT security paradigm.
Lastly, segmenting IT networks is a viable step in securing IoT and IIoT frameworks as it facilitates equipment controllers to be kept in a separate network partitioning it from the rest of the infrastructure.
Secured IoT and IIoT also open floodgates for many business benefits. The entire gamut of connected devices embeds beautifully in the fabric of business ecosystems bringing in efficient automation and excellent connectivity. Apart from improving productivity, avenues of operation management, use of assets, and cost-management become increasingly effective. The ecosystem also improves safety at work, increases the scope for business development, helps customer retention, and amplifies the company’s brand value.
Get in touch with us to know how we can help you build, secure, and gain the best of IoT and IIoT.