A smart building controls activities such as heating, ventilation, air conditioning, lighting, and security through automated processes. Many smart buildings use Internet of Things (IoT) technology, which means they contain sensors to collect data and software to manage it to reduce energy consumption and environmental effect. The demand for this type of construction will skyrocket in the future years. Recent studies predict that the worldwide smart building industry would reach $127.09 billion by 2027, with a compound annual growth rate of 12.5%.
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Only cross-border and cross-sector coordination will suffice to combat cybercrime.
What SMEs in Europe must do to ensure a cyber-secure future
Businesses are putting together a global response to cybersecurity threats.
The industry must solve the security issues raised by smart buildings. According to research, 57% of IoT devices are vulnerable to medium or high-severity assaults. Cyberattacks have already caused significant damage to a number of enterprises, including key infrastructure such as hospitals, data centers, and hotels.
Smart building enterprises should follow the seven principles outlined below to protect themselves from cybercrime.
There are seven approaches for businesses to ensure that their products contribute to smart buildings.
1) Administration
Companies require proper security knowledge. They must be clear about roles and responsibilities in this area, as well as generate a clear set of security messaging on how occurrences should be handled. Each team should ensure that its product, solution, or service has enough built-in cybersecurity. Companies must assist consumers in maintaining cybersecurity throughout the product’s or building’s lifecycle.
2) A reliable supply network
Before entering into business agreements, companies should require partners along the supply chain to fulfill reasonable levels of security. They should incorporate security requirements into their terms and conditions and analyze vendors for potential security leaks. They also require a process for identifying and managing various security risks through the different externally sourced components. This can be accomplished by employing an automated tool to monitor and track vulnerabilities.
3) Cybersecurity in product development
Companies should incorporate cybersecurity into product design from the start. This strategy could begin with setting a cybersecurity target for each product based on market needs. It is less expensive to address security issues early in a product’s lifecycle than it is to resolve them afterwards.
Threat and risk assessments should be performed by security specialists throughout the product’s lifecycle in order to detect and mitigate any issues. This should begin early in the product development process and be repeated for each substantial upgrade. Companies should request that independent third-party organizations examine new products for potential vulnerabilities before releasing them.
4) Internal and external cybersecurity awareness
People are at the heart of a good and effective cybersecurity strategy. Investing in ongoing training and awareness will help to protect enterprises from cyberattacks. Employees working in security-related activities should be thoroughly trained, and there should be clear direction on who to contact with internal inquiries or difficulties.
Companies in the smart building sector must also share information and collaborate to keep each other informed of new dangers and best practices.
5) Vulnerability and incident management
Any suspected occurrence should be handled as real unless it is shown to be a false alarm. Every firm requires a handbook that outlines how security issues and online safety breaches should be dealt in a timely manner. They must guarantee that they have done all feasible to reduce the danger of a breach.
When vulnerabilities are discovered, organizations must be upfront about them, telling customers and other essential parties. In the event of an issue, corporate communications are just as crucial as addressing the technical flaw, because cyberattacks can harm a company’s brand and destroy customer trust.
As you can see the importance of cybersecurity is going to continue to grow and become more important with each passing year. It is essential that smart buildings take this into account and start implementing for the future.
