Viakoo: Less than half of IT leaders are confident in their IoT security plans

MOUNTAIN VIEW, Calif., Feb. 27, 2024 -- Viakoo today released findings from its 2024 IoT Security Crisis: By the Numbers. This groundbreaking survey, commissioned by Viakoo, uncovers insights from IT and security executives, exposes a dramatic surge in enterprise IoT security risks, and highlights a critical missing piece in the IoT security technology stack.

The clarion call is clear: IT leaders urgently need to secure their IoT infrastructure one application at a time in an automated and expeditious fashion.

Increased IoT Security Threats

IoT application and device systems are critical to the profits and operations of many organizations. As cybersecurity threats grow, IoT systems remain vulnerable due to missing pieces in enterprises' current technology stack. In surveying IT leaders across a range of organizations, it's clear that poor IoT security is causing serious issues:

• 95% of IT leaders have an IoT security plan in place, but only 51% feel confident in their efforts.
• 55% of IoT cyber incidents could have been prevented with better security measures.
• 50% of IT leaders say IoT is the weakest part of their security.
• 50% of companies have experienced an IoT cyber incident in the last 12 months, of which 44% were serious, and 22% threatened business operations.

The Right Technology Stack for IoT Security

IT leaders are focused on improving IoT security, but their current technology security stack is missing key pieces:

• 90% of IT leaders believe that agentless security solutions are the foundation for successful IoT security.
• 93% of IT leaders use agentless network-based asset discovery to help remediate IoT vulnerabilities, but only 35% feel they are successful with these efforts.
• Over two-thirds (71%) of IT leaders wish they started their IoT security plans differently so they could remediate vulnerabilities faster.
• 83% of IT leaders agree their attack surface grew one application at a time, and should be remediated one application at a time

"The IoT attack surface was built one application at a time and is growing one application at a time," said Bud Broomhead, CEO of Viakoo. "Viakoo's 2024 IoT Security Crisis: By the Numbers findings reinforce the criticality of securing IoT infrastructure one application at a time in an automated and rapid fashion." 

Growing Investment, Lack of Confidence

IT professionals recognize the threat IoT presents to their business. Based on the survey results, the top emerging IoT threats for IT professionals include data breaches (69%), ransomware attacks (60%), supply chain attacks (45%), and Denial of Service (DDoS) attacks (42%).

IT leaders plan to increase spending on security stacks in the following year, but lack the knowledge and confidence to make informed decisions on filling security blind spots:

• 87% of companies spent more on IoT security in 2023 compared to 2022.
• 89% of companies plan to spend more on IoT security in 2024 compared to 2023.
• Only 63% of Boards feel they have enough information on IoT security to make informed decisions.

The numbers presented here spotlight how the IoT applications and device systems that organizations rely on are vulnerable, are being attacked, and lack the focus on cybersecurity that traditional IT systems have. While there is board-level visibility into IoT security and internal discussions between the managers of IoT systems, most organizations lack the proper technology solutions, reporting, and governance to ensure that IoT systems are always visible, operational, and secure.

Download the full report here to learn more.

Viakoo will be hosting a webinar on March 13, 2024 at 10 a.m. Pacific Time with industry experts to discuss these findings and how organizations can improve their IoT security posture. Click here to register.   

Methodology

The report yielded responses from 150 U.S. IT leaders at companies that use IoT. An independent research firm conducted the survey in November 2023.