The Internet of Things (IoT) is a vast landscape of opportunities for businesses, offering new insights, streamlined processes, and a wealth of additional data sources. However, it’s important to remember that anything connected to the Internet can potentially be a security vulnerability. As IoT devices become more prevalent, they are increasingly targeted by cybercriminals to infiltrate networks.

Every connected device should be adequately protected as part of a comprehensive security strategy. This helps businesses harness the value of IoT data for analytics and empowers them to take control of critical data and these intricate assets. With the right IT partner, effective KPIs, and a well-executed strategy, companies can navigate the IoT landscape with confidence.

A Growing Market

The South African IoT market is estimated to grow at a CAGR of 20.96% through 2025. While IoT has many applications, it is seeing significant growth in manufacturing, transportation, healthcare, retail, energy and utilities, and the residential market. Digital transformation in the manufacturing industry and the implementation of intelligent manufacturing are further fueling the South African IoT market.

This growth is driven by the rise of artificial intelligence and big data, as well as rapid increases in the use of smart devices across industries, including the home. Smart, connected IoT devices are being used in many areas, including asset tracking, connected vehicles, smart metering for power and utilities, IoT-based goods condition monitoring in transit, predictive maintenance, and more. However, security issues remain a concern and a challenge for the implementation of IoT.

IoT adoption is also increasing globally as organizations recognize its potential for optimizing processes, reducing costs, and improving customer experiences. IoT-driven solutions like real-time monitoring and analytics enable businesses to react quickly to market dynamics and operational inefficiencies. In industries like healthcare, IoT devices such as wearable health monitors are transforming patient care by providing continuous monitoring and early warning systems. Meanwhile, integrating IoT in smart cities enables better traffic management, energy efficiency, and public safety.

Risky Business

As the use of IoT devices grows, so too do the risks associated with them. More devices are connected, widening the potential attack surface. IoT devices are prone to vulnerabilities and are often used in malicious exploits, and this risk needs to be mitigated. However, patching, upgrades, and maintenance can be challenging if this is not automated due to the sheer volume of connected devices that must be managed. The ever-present skills gap, which refers to the shortage of resources with the skills required to secure and manage IoT devices, also comes into play.

IoT devices present an overly large attack surface and have inherent application vulnerabilities, but organizations often have incorrect access control and insufficient physical security. Addressing these issues is essential in ensuring that the value of IoT can be maximized while the threats present to connected devices are minimized.

Adding to the complexity, IoT devices are often deployed in diverse and decentralized environments, making monitoring and securing them comprehensively difficult. Attackers leverage this fragmentation to exploit weak points, such as unsecured endpoints and legacy devices with outdated firmware. The risks are compounded by the lack of standardized security protocols and regulatory frameworks, leaving many organizations ill-prepared to defend against IoT-related cyber threats.

Securing IoT

Several best practices can be implemented to secure IoT devices, including device discovery for complete visibility, network segmentation for more vigorous defense, secure password practices, automated patching and firmware updating, and active monitoring of all IoT devices at all times.

Poor IoT device management is an ongoing problem that requires a vulnerability management solution to deliver constant and periodic security checks on vulnerabilities, firmware updates, alerts, and reporting. In addition, many IoT security solutions include hardware-based and virtual firewalls, device identification tools, and other tools designed to provide visibility and protection for unmanaged IoT devices and curb the threat of malicious traffic and attempted breaches.

A managed IoT security solution is often a practical option for ensuring that weak points in connected devices and the servers, APIs, and cloud services that interact with them can be identified and addressed to mitigate risk and vulnerability.

Organizations should adopt a zero-trust security framework, a security model that assumes no user or device within or outside the network can be trusted until verified. This approach ensures that all devices and users are authenticated and continuously verified before granting access to critical systems. Encryption of IoT data both in transit and at rest is another essential measure, ensuring that sensitive information is protected from unauthorized access. Additionally, implementing robust endpoint detection and response (EDR) solutions can provide real-time insights into IoT device behavior, enabling swift identification and mitigation of anomalies.

Remote Monitoring and Managed Services Are Key

Remote monitoring, an essential tool for monitoring the health of IoT assets, generating automated alerts and notifications, tracking equipment, and monitoring performance and usage, is a key component of IoT security. Proactive monitoring also enables predictive maintenance to ensure assets always function optimally and never break down.

IoT security ensures your IoT solution’s availability, integrity, and confidentiality. IoT security tools protect from threats and breaches, identify and monitor risks, and can help fix vulnerabilities. However, the lack of currently available skills in IoT security, such as expertise in managing large-scale deployments and understanding complex security protocols, makes a trusted IT partner offering a managed IoT security service essential to securing the IoT, mitigating risk, effectively managing assets, and maximizing the value of IoT for business benefit.

Managed IoT services also simplify the complexity of overseeing large-scale IoT deployments. These services typically include 24/7 monitoring, automated diagnostics, and detailed reporting, enabling businesses to focus on strategic objectives rather than operational challenges. With predictive analytics integrated into remote monitoring solutions, organizations can pre-emptively address potential failures and reduce downtime, leading to increased operational efficiency.

The Path Forward

As IoT grows, the balance between leveraging its benefits and managing its risks becomes more critical. Organizations must adopt a comprehensive approach to IoT security, starting with a detailed risk assessment to identify vulnerabilities and prioritize mitigation efforts. Building a strong IoT security strategy also involves collaboration between IT teams, security experts, and third-party vendors to ensure an integrated and holistic defense posture.

Furthermore, regulatory compliance is becoming increasingly important in the IoT landscape. Adhering to local and international standards, such as the General Data Protection Regulation (GDPR) and other data privacy laws, is essential to avoid legal and financial penalties. Businesses must ensure that their IoT implementations align with these regulations, particularly in industries that handle sensitive customer data.

Investing in employee training and awareness programs is a crucial step in securing IoT ecosystems. By educating staff about the risks associated with IoT devices and the importance of following security best practices, businesses can significantly reduce human error, which is often a significant factor in successful cyberattacks. This sense of responsibility is key to maintaining a secure IoT environment.

Amritesh Anand – Vice President & MD, Technology Services

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