5G to enable IoT devices; Cyber Security Cos Rush to save them from attacks
The Emmy-winning show Homeland features a shocking scene related to the hacking of IoT devices. The Vice President of the United States is assassinated by a terrorist group who hacked into the pacemaker controlling his heart. They acquire the device’s distinctive identification number, take control of it remotely, and deliver powerful electric shocks to inflict a fatal heart attack.
While this might sound like a stretched-too-thin sci-fi plot, brace yourself, because it can happen in real life.
In 2017, the FDA announced the discovery of a serious vulnerability in implantable pacemakers manufactured by St. Jude Medical. In this case, the transmitter used by pacemakers to communicate with outside services proved vulnerable. The follow-up of each patient was facilitated by these pacemakers, which sent to their doctors information on the state of the patients. The attackers were able to modify the operation of the pacemaker, drain its battery and even deliver life-threatening shocks, if they had access to the transmitter.
Experts believe that with 5G around the corner, India is set to see massive adoption of IoT devices, along with a huge increase in cyberattacks.
IoT Adoption and Cyber Threats
According to a recent report by Frost & Sullivan, India is adopting the Internet of Things (IoT) quite rapidly. India’s IoT market is expected to grow from $4.98 billion in 2020 to $9.28 billion by 2025, supported by robust connection and coverage, increased internet penetration, increased adoption of smart applications, new business models and government initiatives such as smart city projects. .
The Indian market will benefit from IoT by using a network of intelligent and recognizable devices, appliances, equipment and machines to connect, communicate and manage processes. An IoT ecosystem will begin to take shape as a direct result of the increase in the number of sensors used in smart devices and cars.
“5G and IoT devices will together attract the collection of real-time behavioral data, which will be used for the cycle of decision-making notifications,” said Nikhil Mahadeshwar, Founder of Cyber Secured India.
Mahadeshwar warned that this could increase the risk of attacks against IoT devices from a hardware hacking perspective, as most of them use different types of APIs for data exchange and operation. Vulnerable or outdated API is one of the threat factors that can compromise data. Network threat is also a cause for concern as wireless penetration, hardware and software testing tools and techniques are always vulnerable to hacking and access to the network and its connected infrastructure.
There is still no clarity on the network forensics when it comes to the 5G network. Will current network forensics tools and techniques work? Many improvements will be needed to detect incidents on the network.
Where there is threat, there is security
According to a research and market report, the Indian cybersecurity market was estimated at $2.2 billion in fiscal 2021. During the projection period from fiscal 2023 to fiscal 2027, the growth of the market is expected to continue with a CAGR of 8.05% to reach a market value of USD 3.5 billion by fiscal year 2027.
Experts believe that India’s cybersecurity market will grow significantly over the next five years owing to the growing need for security protocols and procedures resulting from the increase in data theft.
IoT and Artificial Intelligence (AI) operating on LANs and the Internet are also contributing to the expansion of India’s cybersecurity market. Another factor supporting the growth of the Indian cybersecurity market over the forecast period is the expansion of big data analysis and processing to account for potential future cyberattacks in response to recent attacks.
“Opportunities will increase for hardware penetration testing companies, firewall manufacturing companies, API penetration testers and IoT penetration tester network. Cybersecurity companies should focus on improving skills of their resources to deal with the challenges they will face when dealing with 5G and IoT devices,” said Mahadeshwar.