Market Overview

Trend Micro Survey Finds IoT Deployment Decisions Made Without Consulting Security Teams

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  • CISOs and security professionals only consulted for 38% of IoT
    projects
  • Nearly 33% of respondents state internal responsibility for IoT
    security is unknown
  • Surveyed organizations report an average of three attacks on their
    connected devices in the past year

Trend
Micro Incorporated
(TYO:
4704
; TSE:
4704
), a global leader in cybersecurity solutions, today revealed
that organizations around the world are exposing themselves to
unnecessary cyber risk by failing to give IT security teams a voice when
planning Internet of Things (IoT) project deployments in enterprise
environments.

A survey of 1,150 IT and security decision makers in Germany, France,
Japan, the UK and US revealed that 79 percent involve the IT department
in choosing industrial IoT solutions, but only 38 percent involve their
security teams.

"It is remarkable how IT security teams are being locked out of IoT
projects, when this is clearly exposing organisations to unnecessary
cyber risk," said Kevin Simzer, chief operating officer for Trend Micro.
"Our study shows too many organizations across the globe don't
prioritize security as part of their IoT strategy, which leaves them
vulnerable. Unless security is addressed as part of the deployment,
these devices will remain exposed and vulnerable since, for the most
part, they were not designed to be updated or patched."

The research found that responding organisations spent more than $2.5
million on IoT initiatives over the past year and plan to spend the same
in the next 12 months. Given the heavy financial investment, security
should be equally invested in to mitigate risks associated with these
connected devices. However, only 56 percent of new IoT projects include
the Chief Information Security Officer (CISO) as one of the decision
makers in selecting a security solution.

According to IDC, IoT enablement, which may involve connecting
consumer-facing industrial control systems to the internet for the first
time, exposes software vulnerabilities putting corporate data at risk,
but also enabling attackers to target and potentially manipulate
software-based safety mechanisms to cause intentional or unintentional
physical harm to the public.1

Reinforcing these known issues, the survey found organizations suffering
an average of three attacks on their connected devices in the past year.
This proves that the risk introduced by insecure IoT devices in a
business is actively affecting enterprises around the globe.

Additionally, 93 percent of respondents said they have recognised at
least one threat to critical infrastructure resulting from an IoT
implementation. The most common reported threats posed by these added
connections included complex infrastructure, an increased number of
endpoints, and a lack of adequate security controls.

About the Research

The findings are based on joint research with Vanson Bourne. Between 1
April and 25 May 2018, 1,150 online interviews were conducted with IT
and Security decision makers from businesses with 500+ employees in five
countries, including USA, UK, France, Germany and Japan. Respondents
held either C-Level, senior management or middle management decisions,
and work in organisations operating in multiple sectors, including
retail, financial services, public sector, media and construction.

About Trend Micro

Trend Micro Incorporated, a global leader in cybersecurity solutions,
helps to make the world safe for exchanging digital information. Our
innovative solutions for consumers, businesses, and governments provide
layered security for data centers, cloud environments, networks, and
endpoints. All our products work together to seamlessly share threat
intelligence and provide a connected threat defense with centralized
visibility and control, enabling better, faster protection. With over
6,000 employees in over 50 countries and the world's most advanced
global threat intelligence, Trend Micro secures your connected world.
For more information, visit www.trendmicro.com.

All product and company names herein may be trademarks of their
registered owners.

About Vanson Bourne

Vanson Bourne is an independent specialist in market research for the
technology sector. Their reputation for robust and credible
research-based analysis is founded upon rigorous research principles and
their ability to seek the opinions of senior decision makers across
technical and business functions, in all business sectors and all major
markets. For more information, visit www.vansonbourne.com.

All product and company names herein may be trademarks of their
registered owners.

1 IDC, IDC FutureScape: Worldwide IoT 2018 Predictions,
October 2017

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