Only around half (48 percent) of businesses can detect if any of their IoT devices suffers a breach, according to a study by Gemalto. This comes despite companies having an increased focus on IoT security, researchers said. According to findings in the study, spending on protection grew from 11 percent of IoT budget in 2017 to 13 percent now, nearly all (90 percent) of interviewed firms believe IoT security is a big consideration for customers; and almost three times as many now see IoT security as an ethical responsibility (14 percent), compared to a year ago (4 percent).

Surveying 950 IT and business decision makers globally, Gemalto found that companies are calling on governments to intervene, with 79 percent asking for more robust guidelines on IoT security, and 59 percent seeking clarification on who is responsible for protecting IoT.