The Internet of Things (IoT) has come to stay, and it has the potential to impact countless aspects of our lives moving forward. While the IoT is set to be one of the fastest growing technologies in the world, it is also becoming one of the fastest sources of security vulnerabilities. For this reason, trust in IoT devices is at a low-point, which in turn is slowing innovation and adoption of these new technologies.
In order to understand the public perception of this issue, Auth0 recently surveyed consumers about their attitude toward IoT security. This was contrasted with separate but similar questions looking from a developer’s perspective, to try to find the root cause of this increasing disconnect.
The survey found that 52 percent of consumers familiar with IoT connected devices believe that these products do not have the necessary security in place. Similarly, half of these consumers don’t trust having their personal, private health, home and financial data tied to these IoT applications, but continue to use the devices nonetheless. Additionally, 54 percent of millennials claimed they did not plan to purchase or regularly use IoT devices within the next two years – a frightening statistic for companies reliant on early adopters to build a critical mass in order to enter the main market. Generation X proved to be even more skeptical, with 63 percent not interested in purchasing IoT devices over the next two years.
To measure whether consumers’ fears were founded, Auth0’s research targeting Silicon Valley and other prominent developers was shocking. While only around half of consumers felt that IoT devices did not have the necessary security in place, a staggering 90 percent of developers felt the security was insufficient.
With this information coming straight from the developer community, these statistics should trigger alarm bells for even the most enthusiastic IoT supporter.
So despite the many conveniences and benefits that IoT offers, why is there a perception of insecurity and a lack of trust? With data breaches from major companies constantly making headlines, consumers are aware that security is a major issue, but many are left wondering why this may be the case.
According to developers surveyed, one possible reason is the unsettling frequency of IoT devices being pushed to market too quickly, forcing developers to cut corners. If adding security components results in a slower time-to-market, the chances are greater that they won’t be implemented at all. A massive 85 percent of developers admitted to rushing a product to market as a result of these pressures, suggesting this is an issue faced by a variety of business verticals in the industry – not just a group of small, time-starved start-ups.
Business needs to change the way it views security. No longer is it a cost center, but a way to build trust and draw users to a product. As security breaches become more prevalent, and user awareness continues to develop, security will become one of the driving factors in purchasing decisions for consumers – something that developers and the c-suite will need to embrace if the IoT industry is to survive.
As consumers continue to question the security of Internet of Things devices and applications, developers and CIOs will need to find ways to simplify the implementation of strong security measures. They need to be well equipped to stay up to date on the latest security vulnerabilities - keeping their devices, applications and, ultimately, their consumer and enterprise data safe.
About the Author:
Jon Gelsey, is the CEO for Auth0. Auth0 simplifies identity implementation and management, making it easy for developers to implement even the most complex identity solutions for their web, mobile and internal applications, APIs and IoT devices.
