IoT (Internet of Things) and Industrial IoT are at the root of some of the biggest current challenges in network, data and application security.
Some experts believe that in a world where everything is connected, business potential is being held back by security concerns, and they are right.
It's often the fear of attacks and security breaches that holds IT, OT and network operations teams back from large-scale deployments such as smart buildings, smart factories, smart campuses or smart cities.
A recent survey on IoT security shows that 97 percent of respondents believe unsecured IoT devices could cause a disaster for their business.
Only 29 percent of IoT users say they actively monitor connected endpoints and systems for third-party risks.
The Internet of Things (IoT): A New Era of Third-Party Risks, published by the Ponemon Institute, an independent research firm specializing in privacy, data protection and information security policy, confirms the view of many CIOs that there is still a long way to go and that there are clear and visible dangers if security is not properly maintained.
While real-world cyberattacks on IoT have brought attention to this area, incidents in recent years have raised awareness. Some of the cyberattacks on IoT technologies that have occurred in the recent years, from the U.S. to Germany, have been as follows:
It should come as no surprise that enterprise network, application and sensitive data executives have been slow to move forward with major IoT implementations, despite companies' belief in cost savings, more competitive offers, more efficient supply chains and stronger red lines.
For decades, with the help of Identity Access Management and Privileged Access Management systems, they combated threats to their core infrastructure - servers, networks, phone systems and cloud networks - by controlling who has access or is authorized to access the infrastructure from which devices and at what level that access occurs.
Privileged Access Management (PAM) has become a necessity in today's world to secure such modern devices and protect IoT networks from attacks. However, as the Internet of Things (IoT) increases the number of endpoint devices, the demand for PAM products become much more distributed and complex, while Privileged Access Management solutions undergo an equally advanced and powerful transformation.
PAM products that help manage users, administrators and hundreds of thousands of "things" connected to a network are now essential components of large enterprises' cybersecurity policies.
However, PAM used for endpoint devices in the IoT space is significantly different from traditional PAM products. For this reason, security professionals should consider PAM used for IoT as a specialized area rather than an extension of the traditional PAM. This is because there are major differences in securing the many IoT devices supported by more than 500 different IoT platforms.
As with traditional IT and OT, there is no single security tool/solution on the IoT side either, so traditional approaches to cybersecurity solutions present many choices as well.
When evaluating the use of Privileged Access management solutions for IoT, one of the biggest concerns is scalability. Thanks to our PAM solutions for telecom and service providers, the world's leading enterprises prefer our Privileged Access Management product family, Single Connect, as our products scale better than traditional Privileged Access Management products, even in large organizations.