Cyber Attacks on the Internet of Things are extremely high

by | Jun 3, 2019 | IoT News

A recent study states that the cyber attacks on the Internet of Things are reportedly happening more than they used to happen before. In the last couple of years, the increase the endorsement of the devices based on the Internet of Things is rising. By the looks of it, the study shows that around eight out of ten companies have been through a cyber attack on the Internet of Things devices in the previous year.

The acclaimed survey from Global Connected Industries, Irdeto has reportedly quizzed around 700 companies across Germany, the United Kingdom, China, the United States, and Japan. Irdeto wants to know what is the reason that the hackers have targeted the enterprises as well as their Internet of Things devices.

The study also shows that around 90 percent of the companies who Internet of Things devices have been affected by cyber attack have given rise to considerable operational dead time. Furthermore, cyber attacks also endanger customer information.

According to the research, the companies indulging in healthcare, transport as well as manufacturing have been through massive losses due to the vulnerability of the Internet of Things devices. By the looks of it, the economic effect of the cyber attack on the Internet of Things is more than $330K.

Irdeto said that the early mindset of the Internet of Things security has been changing. Nevertheless, the research that showed a severe absence of optimism concerning the weakness for foreseeable future of the Internet of Things’ security.

Moreover, it is regarded that around 82 percent of the enterprises which produces the Internet of Things devices are deeply concerned that the devices aren’t up to the mark when it comes to protection against the probable cyberattacks. On the other hand, 90% of manufacturers of the Internet of Things devices along with 96% of the Internet of Things devices users have claimed that the security of these devices can become better.

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Neelam Dimri

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