Verizon Business has released its 2024 Mobile Security Index (MSI), highlighting significant security threats linked to the growing reliance on mobile and IoT devices across industries, particularly in critical infrastructure sectors. As mobile and IoT technologies become central to operations, the risks of cyberattacks and data breaches are intensifying.
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Rising Reliance on Mobile and IoT Devices
Key findings of the survey based on 600 people responsible for security strategy, policy and management, reveal that 80 percent of businesses consider mobile devices essential, and 95 percent are using IoT devices. In critical infrastructure sectors, 96 percent of respondents use IoT technology, with over half reporting severe security incidents that resulted in data loss or system downtime.
The report indicates a shift from the bring-your-own-device (BYOD) model to employer-provided devices, driven by the need for better security controls. The report suggests Organisations (84 percent) are also increasingly adopting cybersecurity frameworks like Zero Trust and NIST's Cybersecurity Framework 2.0 to mitigate risks.
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AI-Driven Cyberthreats and Defenses
AI-driven cyberthreats are on the rise, with 77 percent of respondents expecting AI-assisted attacks, such as deepfakes and SMS phishing, to be successful. However, 88 percent recognise the growing importance of AI in strengthening cybersecurity defenses.
IoT Expansion Demands Stronger Cybersecurity
"The Industrial Internet of Things (IIoT) is giving rise to a massive expansion in mobile device technology that goes well beyond phones, tablets and laptops. Enterprise networks now include all sorts of sensors and purpose-built devices that monitor, measure, manage and control commercial tasks and data flow," said TJ Fox, SVP of Industrial IoT and Automotive, Verizon Business.
"That IIoT growth brings with it a proportionate need for more knowledge, awareness and IT solutioning to ensure the security of those increasingly sophisticated networks. The growing importance that IoT plays in our customer's technology ecosystem underscores why it should be a component in any sound cybersecurity program," TJ Fox added.
The report emphasises the need for updated cybersecurity strategies to address the expansion of the Industrial Internet of Things (IIoT), which is adding complexity to enterprise networks.
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Increased Security Budgets Across Industries
In response to these escalating threats, 84 percent of organisations have increased their mobile security budgets, with nearly 90 percent in critical infrastructure sectors planning further investments, the report said.
The 2024 MSI underscores the urgency for businesses to enhance their cybersecurity measures to protect against the evolving threats posed by mobile and IoT technologies.
