How Cybersecurity Certification Can Protect the IoT Industry?

Ways on how cybersecurity certification can protect the Internet of Things industry

According to Gary Jabara, founder, and chairman of ioXt Alliance, the IoT industry requires worldwide cybersecurity certification standards to combat cybercrime and increase security. Despite geopolitical challenges, governments throughout the world are increasingly dedicated to implementing and improving cybersecurity certification standards to increase global trust and collaboration.

Cybercrime would have the third largest economy in the world if it were a country, according to Cybersecurity Ventures' 2022 Cybersecurity AlmanacOpens a new window. Cybercrime costs will rise to US$11.6 trillion by 2025, more than tripling from US$4 trillion in 2015, and the number of connected Internet of Things devices, which are key elements of the cybercrime attack surface, will reach 76 billion by 2025 and 200 billion by 2031. The IoT sector is working to create a safer and more secure IoT environment in light of these horrifying facts and projections.

Cybersecurity Certification Standards Can Aid in the Fight Against Cybercrime

Cybersecurity certification standards have the potential to greatly enhance cybersecurity for everyone, particularly in the rapidly increasing IoT market. A certification body verifies and certifies that a product, service, or management system conforms to required technical requirements or standards throughout the qualification and evaluation process. Cybersecurity certification assesses the security risks of products and services, assisting manufacturers and service providers in maintaining and improving quality and assisting customers and organizations in protecting themselves from cybercrime.

The IoT Industry Requires Global Cybersecurity Standards

According to a recent research study, a new window showed that revealed serious vulnerabilities in 70% of IoT devices, there should be global standards for cybersecurity certification in the IoT industry to guarantee that all goods and services are secure for consumers and businesses. This is important because cybercrime is on the rise globally.

The creation of global IoT device cybersecurity certifications is essential for enhancing cybersecurity for all users. This is because it would deliver an authoritative and trustworthy shared standard for security for IoT developers, a single worldwide standard and commitment that would improve confidence across nations and a standard procedure for IoT products and services in the market. Another obvious way to prevent false information and lower overall risk throughout the IoT sector is by creating a standard baseline for cybersecurity certifications.

According to the ioXt Alliance and Research Centre for Cyberspace International Governance's 2022 Global IoT Security, White PaperOpens a new window to the cybersecurity system framework and standards established by the United Nations (UN), the International Organization for Standardization (ISO), the International Telecommunications Union (ITU), and other relevant international organizations are an ideal guide for IoT developers and can improve the quality and security of IoT devices.

International cybersecurity standards will contribute to the safety of IoT businesses for customers and developers. A universal baseline would also aid in lowering regulatory costs, enhancing cybersecurity oversight, and facilitating commerce.

Role of Geopolitical Roadblocks in Improving Global Cybersecurity

Global geopolitics, notably Sino-U.S. ties, are now stifling cybersecurity. The United States will continue to encourage adherence to the framework of responsible state behavior in cyberspace, which has been endorsed by the United Nations General Assembly and acknowledges that international law applies online just as it does offline, according to the White House's National Security Strategy, which was released on October 12. The industry seems to be heading on the right path by adopting international standards established by reputable third-party agencies.

However, the White House's approach suggests that some nations pose a threat to national security on the cybersecurity front, which may cause further conflict rather than unite nations to develop a robust, universal cybersecurity standard that advances the sector and generates shared value.

National cybersecurity plans are also shaped by politics and beliefs. Geopolitical effects on cybersecurity can occasionally impede the sector's expansion. Global cybersecurity certification solutions are therefore extremely valuable for advancing both national objectives and international collaboration and confidence.