Early adopters delay IoT purchases over security concerns

While people are still excited about Internet of Things technology, many are delaying buying over concerns about privacy and security.

A new survey from cyber security company F-Secure shows that 63 percent of early adopters are looking to purchase new devices, but 50 percent have delayed an IoT purchase because of security concerns.

Almost two thirds (63 percent) of UK early adopters are also worried that new internet connected devices, such as wearables and connected home appliances, could lead to a violation of their privacy. Awareness of cyber threats has increased considerably over the past three years: 62 percent of UK consumers know what ransomware is compared to just 28 percent in 2015

"We see a high level of desire for smart devices and all the benefits that come with them," says F-Secure operator consultant Tom Gaffney. "But in terms of the security and privacy element there are serious concerns. We call this the early adopter paradox. 89 percent in the UK are concerned about devices being hacked and what that might lead to."

F-Secure uses its international network of decoy 'honeypot' servers to track the latest cyber threats network and continues to find that variations of Mirai are the most prevalent malware in circulation. Mirai specifically targets IoT devices, including cameras and routers, and was used in 2016 to carry out one of the largest denial of service attacks against internet services in history.

"The good news is that there is a simple solution to securing connected home devices and it comes from a source consumers already invite into their living rooms," says Gaffney. "As the average household moves toward the use of dozens of connected devices at one time, the demands on service providers will only increase, F-Secure is delivering a comprehensive router-based solution that protects the entire home so that our partners are ready for what we know is coming next."

You can read more about the findings on the F-Secure blog and there's a summary in infographic form below.

Image credit: Jirsak / Shutterstock