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Government Regulations and Impact

According to the 2018 State of IoT Security Report, the majority of companies (79%) is asking for more robust guidelines on IoT security, and more than half (59%) seeking clarification on who is responsible for protecting IoT. In fact, most (96%) businesses believe there should be regulations in place, a finding that is echoed by consumers, nearly all (95%) of which expect IoT devices to be governed by security regulations.

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More than 90% of respondents report that there should be IoT security regulations in place. Almost 60% go as far as to state that these regulations are very important, which is a slight increase from 2017 (57%).

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Of respondents who feel that there should be IoT security regulations, around 60% state that they should include who is responsible for securing data at each stage of the journey and/or the security methods that should be used for data storage. Perhaps if regulations were in place to include these elements, organizations would have fewer concerns over their IoT security.

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Only 60% respondents state that IoT and/or cloud service providers should abide by IoT security regulations, while over half say the same when it comes to manufacturers of IoT products. If regulations are to reach their potential, then it should be each of these groups that are abiding by them.

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Almost 90% of those interviewed agree that communication between IoT partners could be vastly improved. Just under 80% say that government intervention is important to IoT security, which strengthens the case that regulations are required.

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