New Research Unveils Corporate Losses from IoT Security Missteps

A new study from DigiCert, a provider of TLS/SSL, PKI and IoT security solutions, reportedly reveals that enterprises have begun sustaining significant monetary losses stemming from the lack of good practices as they move forward with incorporating the Internet of Things (IoT) into their business models. In fact, among companies surveyed that are struggling the most with IoT security, 25 percent reported IoT security-related losses of at least $34 million in the last two years. The survey was conducted by ReRez Research in September 2018, with 700 enterprise organizations in the US, UK, Germany, France and Japan from across critical infrastructure industries. Security and privacy topped the list of concerns for IoT projects, with 82 percent of respondents stating they were somewhat to extremely concerned about security challenges.