Allot Communications Ltd. (NASDAQ: ALLT) (TASE: ALLT), a leading global provider of innovative network intelligence and security solutions for service providers and enterprises worldwide, released findings from its latest Telco Security Trends Report that examines the confidence of Internet of Things (IoT) device security by consumers living in connected homes. The report reveals that consumers have low confidence in the security of their IoT devices and are willing to pay extra for security to safeguard the connected home. The report also highlights a strong opportunity for ISPs to deliver on-target cybersecurity services to their subscribers at the network/router level.
Based on anonymous data gathered from 1,261 consumers in 10 countries, the Telco Security Trends Report examines which IoT devices are being used and how often; what level of awareness consumers have of security threats to these devices; and the level of confidence consumers have in their device security. The report also uncovers if consumers are willing to pay for IoT device security services, and how much they’re willing to spend.
Telco Security Trends Report findings include:
There is an average of 8.4 connected devices per home, with smartphones and tablets making up the majority of that number, expanding the attack surface for hackers
Half (50%) of the respondents are aware of threats to their IoT devices and only 20% of respondents are unequivocally satisfied with the built-in security of connected devices
The top three consumer concerns around IoT device security issues are loss of privacy (28%), over-reliance on technology (26%), and cyberattack (22%)
Seventy-four percent (74%) of consumers report awareness of and concern about connected devices
Seventy-two percent (72%) of households are willing to pay a monthly fee, averaging $5.26, for security services
“The Allot research points to a marked improvement in consumer awareness of security risks with IoT,” says Patrick Donegan, Principal Analyst with cyber-security analyst firm, HardenStance. “The question now is who can build the most viable business models for addressing this opportunity?”
Continued IoT market growth is forecast for the remainder of 2018, with Gartner analysts estimating the market value to reach one trillion US dollars. The Telco Security Trends Report reveals that ISPs are positioned to benefit from this growth by leveraging their direct relationship with subscribers to deliver their own branded security services from within their own networks.
“This report provides a closer look at the true concerns of consumers using IoT devices and reveals some stunning facts. For example, when asked from whom consumers would buy security services, 73% of respondents expressed a preference. Of these, only 22% preferred their ISP, the second brand of choice when compared with three leading security brands and a fourth “other” brand,” said Ronen Priel, vice president product and strategy at Allot. “ISPs have the unique opportunity to educate their subscribers directly about the benefits of network-delivered security and the limitation of end-point devices on which AV software cannot be uploaded, giving residential IoT products and services an additional boost and positioning service providers to become the consumer’s security supplier of choice.”
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Allot Communications Ltd. (NASDAQ: ALLT) (TASE: ALLT), is a provider of leading innovative network intelligence and security solutions for service providers worldwide, enhancing value to their customers. Our solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more. Allot’s multi-service platforms are deployed by over 500 mobile, fixed and cloud service providers and over 1000 enterprises. Our industry leading network-based security as a service solution has achieved over 50% penetration with some service providers and is already used by over 20 million subscribers in Europe. Allot. See. Control. Secure. For more information, visit www.allot.com.
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