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Security concerns are pushing companies into using private networks when deploying the Internet of Things (IoT), according to a study conducted by Omdia and technology firm Syniverse.

Of the 200 executives in North America and Europe who participated in the survey, 50% identified data, network, and device security as the biggest challenge to IoT adoption.

IoT security has created an adoption lag evidenced by the fact 86% of survey participants have delayed or been constrained in deploying IoT projects due to security concerns.

Cybersecurity concerns such as malware, data theft and leakage are increasing, according to the report.

Of the executives identifying security as the biggest concern, 97% are either considering, or currently using, a private network for their IoT deployments.

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Just below security concerns, integration has been listed as a top issue to IoT adoption. Integration with legacy IT and networks is highlighted by 44% of the respondents and 40% stated integration with business processes an an issue.

Other key study findings include:

  • 50% of surveyed enterprises do not have dedicated teams, processes or policies for IoT cybersecurity.
  • Budgets for security are significant, with 54% of respondents spending 20% or higher of their IoT budget on security.
  • 83% of enterprises stated the ability to provide proven integrated IoT security solutions is essential or very important to them when choosing an IoT supplier.

On being asked which IoT applications are being deployed now, connected security dominates across the board at enterprises with 70% adoption. Other common IoT applications already being deployed are worker and workplace safety applications and remote payment terminals, depending on the industry.

Asset monitoring, smart building and energy management applications, and predictive maintenance are being widely considered for future deployment.

Alexandra Rehak, head of IoT practice, Omdia, said: “Clearly there is a strong demand to expand the use of IoT solutions in enterprises. But to realise this potential, enterprises need fully secure, easy-to-deploy, and highly flexible ways to support integrating IoT into their businesses and processes. Syniverse and Omdia see a growing role for expert third-party suppliers to help businesses tap into the opportunities available through greater global IoT connectivity.”

Download the full report Connected Everything: Taking the I out of IoT.