Placing data in a third-party cloud can bring with it all kinds of new security issues. But just as importantly, there are aspects of regulatory compliance that enterprises need to address as well, and these can be highly challenging depending on the nature of the data and the location of the cloud infrastructure.
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With an increasing amount of corporate data residing in the cloud, enterprises must wrestle with new security challenges daily. These are not always easy to navigate and are dependent on any number of variables, reflective of context that can be either directly related to enterprises (e.g., line of business, supply chain) or totally out of their control (e.g., socio-political events). The priority for enterprises is the security of their data in cloud environments that are hosted and run by third parties. Regarding this, two contingencies come into play.
Across every sector, organizations are digitally transforming to meet customer demand, increase productivity, compensate for labor shortages, create safer work environments, and build smarter cities. This digital transformation requires wider-spread use of Internet of Things (IoT) hardware, sensors, platforms, and services, with ABI Research forecasting that there will be 40.77 billion IoT connections worldwide by 2027. However, embracing IoT devices poses an elevated cyber risk due to more network entry points to target. When it comes to addressing the growing IoT cyberthreat, three primary security solutions are prioritized by enterprises and governments: Trusted Platform Modules (TPMs), Trusted Execution Environments (TEEs), and secure Microcontroller Units (MCUs).
Post-Quantum Cryptography (PQC) solutions are a must-have cybersecurity tool for organizations to safeguard against attacks from large-scale quantum computers.
Urban surveillance is crucial for public health monitoring, public safety, and solving crimes. However, security cameras can easily pick up irrelevant information in the motion video feed, causing false alarms and a host of privacy concerns. A vital security tool used for safeguarding these sensitive data is privacy masking.
In the age of Industry 4.0 and digital transformation, the need for effective security solutions in industrial environments is made more apparent. As a result, cybersecurity spending for critical infrastructure will reach roughly US$126 billion by the end of the year, with Information Technology (IT) being the leading use case. While critical infrastructure—defense, energy, health, transport, etc.—has been the main adopter of industrial cybersecurity solutions, more sectors will begin to invest in security in an ever-connected world. There are seven areas of focus when it comes to solutions:
The benefits of Advanced Metering Infrastructure (AMI) are undeniable, as it leverages technologies like smart meters to provide real-time, or near real-time, two-way communication of information and energy levels between utility companies and Internet of Things (IoT) devices. This provides a more transparent snapshot of an energy grid. Cybersecurity challenges in smart grids are a prevalent threat to the governments and privately-owned organizations replacing traditional energy infrastructure.
Fleet telematics is one of the most important aspects of operating a modern business. Supply chain bottlenecks, such as delays and damaged goods, cost companies a substantial amount of money every year and telematics mitigates those risks. Unfortunately, connected vehicles present potential security vulnerabilities that bad actors may take advantage of. ABI Research recently looked at how Vehicle Manufacturers (VMs), which fall under the sphere of Original Equipment Manufacturers (OEMs) in the automotive industry, keep their telematics data secure in the Secure Data Management in Automotive Telematics research analysis report.
When a company decides to introduce new technology to its operations, they’re also introducing new digital security vulnerabilities that cybercriminals will try to prey upon. As a result, there is rapid growth in the cybersecurity market. ABI Research forecasts that, compared to the 75,000 Hardware Security Module (HSM) shipments in 2021, there will be 125,000 shipments in 2026. Much of the attention is being paid to industrial cybersecurity and manufacturing security. From protecting customer payment credentials to supply chain telematics, cybersecurity is one of the most important aspects of the modern business and there are a few trends worth watching.