By 2021, regulatory compliance will be a major contributor to IoT security applications.
Internet of Things (IoT)-based attacks have become a reality. A recent CEB (now Gartner) survey found that nearly 20% of organizations have found at least one IoT-based attack in the past three years. To guard against these threats, Gartner predicts that global IoT security spending will reach $1.5 billion in 2018, up 28% from $1.2 billion in 2017.
Ruggero Contu, research director at Gartner, said: "In the IoT initiative, organizations often have no control over the source and nature of the software and hardware used by smart connected devices. "We expect to see improvements and penetrations for improved discovery and asset management, software and hardware security. Testing tools and services needs. In addition, organizations will focus on enhancing their understanding of the impact of external network connectivity. These factors will be the main drivers of forecasted spending growth, and it is expected that the 2021 Internet of Things security spending will reach $3.1 billion (see Table 1).
Although global spending has grown steadily year-on-year, Gartner predicts that by 2020, the biggest inhibitor of IoT security enhancement will come from the lack of priority and security best practices and tools in implementing IoT initiatives. This will hinder 80% of the potential cost of IoT security.
Mr. Contu explained: “Although IoT security has always been a primary concern, most IoT security implementations have been planned, deployed and operated at the business unit level, and work with some IT departments to ensure adequate resolution of equipment impacts. The IT part, however, is based on the core system of the device provider and partner alliance or device being enhanced or replaced, coordination through a common architecture or a consistent security policy is almost non-existent, and the vendor's product and service options are basically Still temporary."
Although basic security models have been revealed in many vertical projects, they have not been incorporated into policies or design templates to allow for consistent reuse. As a result, the technical standards for specific IoT security components in the industry are now just beginning to be addressed in established IT security standards bodies, consortium organizations and supplier alliances.
The lack of “design security†is due to the lack of specific and strict regulations. Looking ahead, Gartner expects this trend to change, especially in highly regulated industries such as healthcare and automotive.
By 2021, Gartner predicts that regulatory compliance will be a major contributor to IoT security applications. As the Internet of Things penetrates into the industrial world, industries that are required to improve the regulations and guidelines for critical infrastructure protection (CIP) must be more focused on safety.
Mr. Contu said: "The interest in improving automation of operations through the deployment of smart connected devices such as sensors, robots and remote connections (usually cloud-based services) is growing. Innovations in Industrial Internet of Things (IIoT) or Industry 4.0 have affected deployment operations. Technology (OT) security in the industrial sector, such as energy, oil and gas, transportation and manufacturing."
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