Microsoft being one of the leading companies in the IT sector and global sector thinks security as the topmost hurdle to enterprise IoT adoption. Internet of things is full of promises and a better future but there are potential hazards which are keeping many businesses from making that leap.
Similar to cloud computing, smartphones and the traditional internet, the internet of things (IoT) sounds like a game-changing technology for businesses. For example, Airlines expect the proliferation of IoT technologies to help the industry improve its performance, services and every aspect of traveling by air.
Many organizations are still to be convinced, this is what Microsoft has found in a study regarding IoT security. Security is the top obstacle to corporate adoption of IoT technologies and will remain so through 2017. According to the Redmond, Wash., software giant.
Microsoft staffers have been quite active in blogging and have recently blogged: “The continuous connection of smart devices across networks, commonly called the internet of things (IoT) is driving a transformation in how enterprises all over the world manage network infrastructure and digital identities. With such rapid change comes new cyber-security challenges. Many organizations are hesitant to tap into the power of the IoT due to the complexities and risk associated with managing such a diverse–and sometimes unclear–environment.”
According to Microsoft, more than a quarter of all the cyber-attacks will be targeted on IoT in 2024. This can definitely be considered as alarming if the attacks do occur. Meanwhile, the organizations will be spending just over 10 percent of their security budgets on protecting their IoT deployments during 2024.
Impact on data security will not only affect businesses but will also affect many other things. A survey conducted by mobile security specialist BullGuard revealed that among the 66 percent of consumers planning to buy IoT devices, 66 percent were worried about attacks targeting their devices and 57 percent were wary of the privacy implications.
Microsoft reports that daily it blocks 1.5 million fraud log-in attempts on its consumer online services. If we talk in terms of businesses, once a hacker gains access to corporate networks, they can go undetected for several months. This will lead to important data fetch and theft situations. On average, it takes more than 200 days for organizations to discover that they have been victims of an attack, Microsoft said.
Data security is a major concern today because everything is online. Under such circumstances, we need to compare the goods and bads of IoT. It is surely doing well to an extent but it should not be affecting the security on a global platform and to a great extent.
