2019 Cybersecurity Assessment: Security Industry Embracing IT, But Fears Worst Breach Is Yet to Come
It took a few years, but the electronic security industry is paying more attention to cybersecurity — both as a threat and opportunity.
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Cyberattacks and data breaches show no signs of abating any time soon. According to the website gomindsight.com, cryptojacking attacks are up 8,500%, Internet of Things (IoT) device attacks rose 600% and software supply chain attacks jumped 200%.
Some of the biggest breaches of 2018, according to bluefin.com, included Marriott (500 million records); British Airways (380,000); MyFitnessPal (150 million); MyHeritage (92 million); and Facebook (30 million).
Furthermore, cybercrime losses are expected to hit $6 trillion by 2021, and 43% of attacks are aimed at small businesses — raising concern for most electronic security companies and many of their customers.
That is why electronic security professionals are coming to realize, especially as their systems increasingly ride on networks and connect to the Internet as well as add on IoT devices, the threat is very real and escalating.
The most dramatic results in the five-year history of SSI’s Physical-Logical Security Assessment (PLSA) demonstrate just how seriously dealers and integrators are now taking cybersecurity matters, which is very good news for the industry.
Equally reassuring are the indications that equipment manufacturers are also stepping up their cyber game. Indeed, after years of denial, indifference and disregard, the 2019 PLSA makes a strong case that the electronic security industry has finally crossed the threshold of not only cyber/IT awareness but also action.
Respondents say their IT/cyber knowledge has grown and that they want to continue to learn more. They also say their companies are responding to vulnerability issues more thoroughly and quickly, and are more likely to have taken important steps like updating insurance policies and contracts, and implementing best practices.
In addition, more emphasis is being placed on recruiting for IT skills and training personnel on both IT and cybersecurity. Meanwhile, more firms are enlisting cybersecurity experts, either on staff or outsourced, and more are looking at the potential opportunity to expand their offerings in this area.
Many of those moves, however, may be driven by reports of higher incidence of actual breaches and an elevated level of perceived threat. Known customer breaches rose to 44% and concern about security systems being compromised hit an all-time study high.
Dealers and integrators are also more worried than ever about potential vulnerabilities of the products they sell and are also more cognizant of possible liability exposure. Concern about Cloud and home automation vulnerabilities also rose.
Somewhat troubling from an industry standpoint is the belief that C-level end users are allocating more spending away from physical toward logical security. Downright disturbing is the assertion that the worst breaches are yet to come registered an all-time PLSA high.
The ominous specter of that last factoid notwithstanding, the 2019 PLSA depicts a more progressive electronic security industry ready to take on more challenges and do what’s necessary to ensure the security of security. Dig into the data and digest it in full to help your company adapt and adopt best practices.
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