Security and the IoT ecosystem

Security and the IoT ecosystem

Along with the abundance of opportunity presented by new IoT technologies comes the challenge to ensure every step in the chain is protected.

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The Internet of Things (IoT) is a phenomenon that is only going to get bigger. But while it carries immense opportunities for Australian businesses, industries and entrepreneurs, the risks of favouring speed to market over careful strategy are high.

Security must be a number one consideration for players in this space, along with privacy and trust. They must ask, how well controlled is the device and the infrastructure? How is data kept confidential? And how is customer confidence being addressed? Those that fail to do so will have a difficult time growing in this new environment.

In this report, KPMG draws on its survey of 100 IoT user organisations to gauge their position on these factors, supported by expert insights and advice to ensure a safe, yet robust, IoT ecosystem.

Among other issues, the report explores:

  • Why cyber security is a ‘must have’ for providers and consumers
  • The security and policy standards that should be achieved
  • How a focus on security, privacy and trust must be inherent in the ecosystem
  • How secure third parties are just as important as the key provider.

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The right approach to cyber security enables an organisation to embrace change, seek out new markets, and invest in transformational opportunities.

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In a sector driven by fast-growth, the emergence of non-traditional competitors and markets is challenging established technology business models.

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