As the world around us gets more connected — driven by the Internet of Things (IoT) — the line between the physical and digital world is blurring. We can witness a wide range of devices and services intelligently connected to the digital platform to anticipate our needs and adapt accordingly. The IoT revolution has brought in a new era of machines making our lives easier. But, this comes at a cost. As IoT systems and devices proliferate, so do security risks.
HARMAN, in collaboration with Entrust Datacard, has released a whitepaper as part of a series of resources aimed at raising awareness about IoT security. The white paper discusses a host of factors affecting the greater need for IoT security. The whitepaper is intended to equip companies and end-customers with key insights into solutions that can enhance the security of IoT implementations.
Need for IoT Security
A hyper connected environment will bring new set of security challenges. By the year 2020, Gartner predicts that 1 in 4 identified security attacks within an enterprise will be IoT related. The white paper underscores some of the factors driving IoT security which includes:
Greater Connectivity: Connecting different devices and digital platforms introduces a bevy of new threats which would need a unique approach to system security and integrity.
Longevity: Some of the IoT devices could well last 10-15 years, needing periodic security updates and flexibility to meet changing industry developments and customer requirements.
Sophisticated Threats: The potential of security attacks on devices and data has increased with hackers seeking new ways to tap into sensitive information.
Recognizing the growing need for security trend within the IoT market, HARMAN and Entrust Datacard have formed a strategic partnership with a common goal to build trust within the IoT ecosystem by securing the data and IoT infrastructure. Applying the ioTrust Security Solution by Entrust Datacard — in partnership with HARMAN — addresses the complete lifecycle of the device from establishing a root of trust during the device manufacturing until the device becomes active in an operational environment.
An Evolving Industry Landscape
Organizations continue to explore ways to leverage IoT to reinvent business models and enhance consumer relationship. The usage of real-time and cloud based connected platforms has greatly expanded the number of use cases that a connected experience can support. These cloud-based platforms would not only work with the device but also have the ability to connect to a wide range of third party data sources and applications. The resultant security risk is also expected to grow substantially in such a connected environment with forecasts for IoT security related expenditures reaching greater than half a billion globally in 2018 – with a growth rate of more than 25 percent over 2017.
The white paper discusses the need for an IoT product to be built on a strong and dynamic trust model where any interaction between the device, data or applications within an IoT ecosystem is authenticated and authorized. It will not be sufficient for companies to focus only on protecting the hardware, security will need to extend and cover the entire ecosystem from the device to the cloud and any third party that is providing data feeds.