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DESPITE EMERGING REGULATIONS, MOBILE DEVICE, IOT SECURITY REQUIRES MORE INDUSTRY
ATTENTIONDESPITE EMERGING REGULATIONS, MOBILE DEVICE, IOT SECURITY REQUIRES MORE
INDUSTRY ATTENTION

Omdia Principal Analyst Hollie Hennessy says that until a promising new set of
regulations around the world comes online, connected device security entails a
shared responsibility among consumers, enterprises, and manufacturers.

Hollie Hennessy, Principal Analyst, IoT Cybersecurity, Omdia

November 6, 2024

4 Min Read



COMMENTARY

A broad array of Internet-connected devices have become a part of our lives,
whether the mobile devices that we use daily, the Internet of Things (IoT)
devices often spread throughout our "smart" homes, or even the medical devices
that help provide us care when we need it.

These devices are now a fixture of our lives, professionally and personally.
Unfortunately, they bring with them a countless number of cybersecurity
challenges.


CONSUMERS MUST WATCH FOR INSECURE DEVICES, SCAMS

Historically, home IoT devices in particular have been neglected when it comes
to cybersecurity. Security was rarely a concern for consumer device makers.

However, we've seen positive movement by governments globally, offering up new
guidelines and regulations to facilitate better security of these products for
consumers. In October alone, the Cyber Resilience Act (EU) was adopted by the
council, and Australia announced its Cybersecurity Bill 2024, which proposes new
security guidelines for smart devices.

That said, consumers should be aware that manufacturers might not yet be doing
the best they can regarding cybersecurity. Cheap devices sold on online
marketplaces often are riddled with vulnerabilities, despite looking like a good
deal. Fortunately, once a number of promising new and proposed regulations take
effect in many regions, this will no longer be the case — but for now, consumers
must still largely look out for themselves.

Related:Any IoT Device Can Be Hacked, Even Grills

Scams are one of the most common cybersecurity issues for consumers, and IoT and
mobile devices can make these scams easier to perpetrate. Mobile devices have
put everything in the palm of our hand, even our financial transactions; a
seemingly legitimate mobile application or a well-timed smishing message can do
great harm. Consumers should be wary of anyone telling them to download an
application or take any other unusual action, especially if they are asking for
payment without receiving any services.

For example, in Singapore, millions of dollars are lost to scams — whether
through social engineering, or malware-enabled. Scams have proliferated social
media too, including Facebook, Instagram, and LinkedIn. While the government,
banks, and device makers are working to address issues like this, consumers must
practice vigilance throughout daily life.


IT-OT COMBINATION IS EMERGING ISSUE

For enterprises, even though information technology and operational technology
(IT and OT) security are generally handled separately, Omdia believes a holistic
strategy incorporating both will be increasingly important.

Organizations are also increasingly relying on IoT and other cyber-physical
devices — many of which fall into critical national infrastructure sectors such
as energy, transport, wastewater, and healthcare. Often, IT security tends to
get a lot of focus, but it's the entire landscape, including IoT and OT, and the
gaps in between that need to be adequately secured.

Enterprises will increasingly be affected by regulation as well. October also
saw the deadline for European Union member states to implement the NIS 2
Directive — which is intended to enhance the security and resiliency of
networking and information systems in the EU — into national law. Requirements
are broadly focused on reporting, accountability, risk management, and business
continuity, with minimum requirements spanning these categories, such as
incident response planning, cybersecurity training, and tooling such as
multifactor authentication and employee and asset access.

Despite regulatory burdens, Omdia's research suggests that cybersecurity
maturity — at least for cyber-physical assets — isn't quite where it needs to
be. Omdia's 2024 Cybersecurity Decision Maker Survey revealed that only 37% of
organizations are confident that their business could continue to operate
efficiently in the event of a cyber-physical system compromise, yet around a
third do not have an adequate strategy for securing IoT devices.


DEVICE MANUFACTURERS FACING MAJOR STRATEGIC, OPERATIONAL ADJUSTMENTS

For device manufacturers, it's time to start thinking about how to adapt to an
evolving regulatory environment. Even small manufacturers hoping to sell into
regulated regions will need to adhere to cybersecurity requirements — setting up
the product security teams, processes, and supporting technology will take a
significant period of time. Collaborating effectively between product security
and cybersecurity teams is no mean feat.

Considering the software and firmware element of product security also will be
key. This will require new and enhanced communication between engineering and
cybersecurity teams, alongside DevSecOps processes. Omdia's research suggests
that consumers see security as a purchase driver for IoT devices, so it's best
to start to ensure devices are secure sooner rather than later.

Read more about:

Omdia



ABOUT THE AUTHOR

Hollie Hennessy

Principal Analyst, IoT Cybersecurity, Omdia

Hollie works as a Principal Analyst within the Omdia team, providing insight
into the fascinating and fast-moving domain of IoT Cybersecurity.

Hollie has a range of experience in research. She began her career in the legal
sector, writing and researching for expert witness reports on the labour market.
She then moved into product testing, with a consumer protection focus. In this
role she was responsible for managing comparative tests of various tech
products, as well as regular testing and investigative work into the security of
these products.

She has published various articles for Which?, the UK's largest consumer
organisation and one of the largest subscription magazines, and Computing
magazine.

See more from Hollie Hennessy
Keep up with the latest cybersecurity threats, newly discovered vulnerabilities,
data breach information, and emerging trends. Delivered daily or weekly right to
your email inbox.

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