The internet of things (IoT) has altered the way businesses collect, analyse and use data – for the better. IoT devices – from smart thermostats to industrial sensors – are now integral to modern business operations, offering valuable insights into user behaviour, improving efficiencies and boosting customer experiences. On the flip side, as the number of connected devices soars, so do the security risks, which is why protecting IoT ecosystems from advanced cyber adversaries has become a critical priority for organisations.
IoT devices are prime targets for malicious actors because they widen the attack surface by providing multiple points of entry into networks. And as IoT devices become more ubiquitous, businesses face the mounting challenge of securing them and keep threats at bay. This is particularly true in the consumer product space, where brands need to ensure their digitised products are connected and their identities are verified.
The stats are alarming. According to Corsearch , the size of the worldwide trade in counterfeit goods might reach US$1.79-trillion by 2030, a whopping 75% increase from a year ago and a growth 3.
6 times higher than predicted for the global economy over the same period. It’s clear something must be done, but IoT security requires a multi-layered approach to address vulnerabilities at every level of the network. Companies must focus on item-level authentication, tamper detection and data protection to safeguard IoT devices and their .