The IoT space is getting more attention than ever, primarily due to the advancements in tech stemming from a demand created by cybersecurity challenges. More specifically, developing effective IoT security solutions calls for a multi-faceted approach.
With our everyday life becoming more of a digital landscape, this means you’re dealing with expanding attack surfaces. Considering base-level security protections with devices isn’t enough; that’s where things like next-gen firewalls (NGFW) come into play.
This likely won’t be the only security measure you take against IoT vulnerabilities/ For a better long-term outlook on IoT security, you’ll want to have multiple security layers in place for your organization. A little clarity can help point you in the right direction, and there’s plenty of information to support data-backed decision making.
Key Takeaways:
- IoT vulnerabilities are expanding quicker than you might think
- Market data highlights growing global interest in IoT security solutions
- Traditional IoT, network, and firewall security solutions are outdated
- Next-gen firewall tech is a modern cornerstone in IoT security
- Multi-layered cybersecurity strategies are essential for long-term business growth
The IoT Vulnerabilities in Today’s Networks
There are many factors that play into today’s known vulnerabilities under the IoT umbrella. In the same vein, a large part of it came from the widespread adoption of IoT in the business world. You can see this in many different ways when it comes to the numerous components laid out under the scope of IoT. For example, between 2024 and 2028, every segment of the global information security market is projected for growth.
More specifically, the enterprise security software market is on track to scale from $78.8 billion in 2024 to more than $134.4 billion in 2028.¹ As always, there are many layers to the topic of IoT security challenges. In reality, a lot of it can be slimmed down to several focus areas.
Changing Security Standards
A lot of technology has been around for quite some time, which can mean outdated security standards. You can encounter numerous vulnerabilities here, many of which pertain to firmware or encryption.
Many companies are investing in this space as well, with the endpoint security market expected to see a compound annual growth rate (CAGR) of 12.36%.² Regardless of where the weak point is specifically, this simply means they’re pretty easy to exploit without proper security measures in place.
Visibility and Control
While you can mitigate weak points in many different ways, much of it falls into the scope of visibility and control. It can be the limiting processing power or the lack of remote deployment, outdated devices, and security measures, which means poor visibility.
This, in turn, creates a lack of control, which makes effective monitoring and threat response more challenging than it needs to be. With the reality of today’s cybersecurity challenges, you have to create a network that keeps you one step ahead of the problem.
Network Segmentation
This isn’t necessarily a new concept to IoT security solutions, but network segmentation is still a crucial component. If your business doesn’t already practice this, it’s simply creating potential gateways through any compromised IoT device.
It’s important to remember that attackers don’t always need front-door access to get into your network. There are many ways they can find themselves a way in, another good example of why mitigating attack surfaces is so essential.
Market Insights on IoT Security
You don’t need to encounter cybersecurity issues yourself to see the growing demand in IoT security and its many sub-industries. Take a glance at global spending on the information security market, and it’s bound to make a little more sense. From 2017 to 2024, global spending on this market grew from $100 billion to well over $200 billion.³ Much of this comes from businesses having hindsight on what’s to come, and pivoting their security strategies to prepare.
Other driving factors unfolding across cybersecurity industries include:
- Common attack vectors like weak credentials and a lack of proactive security protocols
- Rising exploitation of APIs and clever phishing scams
- Poor network visibility and overall segmentation
- Insufficient legacy tools that don’t match up to the likes of NGFW cybersecurity
- A growing need for strategic detection and response measures
Thankfully, plenty of answers and solutions exist for the IoT security challenges plaguing the corporate world. It’s merely a part of our digital world that we have to carefully navigate. With the help of refined security strategy, network architecture, and infrastructure supported by today’s firewall generations, you can keep your business prepared at every turn.
A Growing Need for IoT Security Solutions
Under the umbrella of IoT security come many different technologies and integrations for business and personal use cases. One of the leading factors in modern IoT security solutions includes the encompassing details found under firewall tech.
This is considering more than just computer software, and the same can be said about a lot of traditional firewall hardware. To face the numerous IoT security challenges, NGFWs have what you’re looking for.
Some of the highlights found in various modern firewall generations can include:
- Micro-segmentation of IoT devices
- AI and ML integrations for rapid threat response and mitigation
- Streamlined integration with scaling businesses and security systems
- Adaptive and behavior-based protection to adjust response to every unique threat
- Layered defense strategy with easily scalable and flexible IoT-focused security frameworks
You can imagine that the list only goes on, especially when you dive into the technical datasheets. The realm of IoT security has changed plenty throughout the years. With a CAGR of 25% for cloud security4 to expanding remote workforces, and the importance of next-gen firewall tech, there’s a lot to consider in the world of IoT.
The Bottom Line
Between best practices and the best security hardware on the market, there’s no single option for your business’s IoT security solutions. The focus should always be a combination of the threats you’re facing, the future of your network architecture, and the most scalable applications.
Whether it’s something new or common IoT security challenges, it’s best to always keep your frame of mind on what’s to come. Learn more about next-gen firewall tech and how it can support your IoT security by hopping on a call with us about the details.
References:
- https://www.statista.com/statistics/1553314/global-information-security-market-revenue-by-segment/
- https://www.statista.com/outlook/tmo/cybersecurity/cyber-solutions/endpoint-security/worldwide
- https://www.statista.com/statistics/790834/spending-global-security-technology-and-services-market-by-segment/
- https://www.statista.com/outlook/tmo/cybersecurity/cyber-solutions/cloud-security/worldwide
