The Internet of Things (IoT) has been a significant part of the ongoing fourth industrial revolution. Connected devices that allow companies to collect operational data, increase product efficiency, and improve customer experiences are growing in popularity and use. By 2025, there are expected to be over 75 billion connected devices in use globally.
The transformation of the utilities sector
Through the use of IoT devices and infrastructure such as smart metering, utility businesses have been able to effectively and accurately collect and analyze valuable data on crucial performance metrics such as water and gas pressure, efficiency, and usage. However, as digital transformation expands the service capabilities of utilities, it also gives malicious actors a greater attack surface to steal or tamper with sensitive business and operations data. A study by Ponemon and Siemens revealed that 56% of utilities faced at least one instance of shutdown or data loss each year due to a security breach. For organizations, this indicates a lack of preparation and a vulnerability that is not discussed as often as it should be.
The 3 crucial components of data security
The utilities sector is responsible for managing massive amounts of business and customer data. This data ebbs and flows throughout the entire value chain as it makes its way from the smart meter, to the boardroom or market participant. As a result of the […]