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IoT continues to be a hit in the enterprise – but money is being lost through poor implementations

November 16, 2018 / IoT Tech News

A new study claims that enterprises have started sustaining significant monetary losses due to lack of good practices as they are advancing by integrating IoT into their business models. The report, which was conducted by ReRez Research and sponsored by world's leading provider of TLS/SSL, PKI and IoT security solutions: DigiCert, surveyed companies that are struggling with IoT security. Twenty-five percent of such firms have reported security-related losses of at least $34 million in the past two years. Among the 700 enterprise organisations in the US, UK, Germany, France and Japan, 83% of respondents indicated that IoT is very important to them currently, while 92% said that they are expecting IoT to be extremely important to their respective organisations within two years. Topping the list of concerns for IoT projects were security and privacy issues as 82% of respondents were extremely worried about security-related challenges.