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IOT Security Report 2024
It’s no secret that our lives are powered by smart technology – from smart phones, watches, and TVs to the growing market of smart grills, mirrors, and glasses, smart devices are everywhere.
A 2024 study found that 672.6 million households worldwide will utilize smart home devices by 2027. While these devices streamline multiple facets of life, this also means vulnerabilities to personal data are forever present. Also, the use of AI continues to grow rapidly across industries. We’ve already seen threat actors making use of AI to target personal data and vulnerable devices, and it’s very likely these individuals will continue to use the advanced technology to breach networks, scam individuals, and disrupt lives.
Given the influx of devices into the market and rising threats, NETGEAR pulsed consumers on their cybersecurity habits at home. The 2024 NETGEAR Consumer Security Survey found some alarming data points about the impact of cybersecurity on home networks.
The Current Security Landscape
Every 24 hours, home network devices see an average of 10 attacks, according to the 2024 IoT Security Landscape report conducted by Bitdefender and NETGEAR. Further, in 2023, the highest number of vulnerabilities were discovered in smart TVs (34%), smart plugs (18%), digital video recorders (13%), and routers (12%). Despite these facts, the Consumer Security Survey found that 30% of people disagree that cyber-attacks on home networks are common. The data shows that cyber criminals are out there, yet people refuse to acknowledge their risk.
Where Consumers Stand
While threats are prevalent, not all consumers are taking the necessary precautions to protect themselves. One in 10 report that they have never taken a proactive measure to secure their home network. The survey also found that 65% of people use the same password across at least two accounts, with over one in four (27%) using the same password for six accounts or more. One-quarter also reported rarely or never changing their password after being notified of a breach to an account. This means that many are exposed.
Is the Risk Worth the Loss?
For those who are sadly impacted, the consequences can have a great impact. One in 10 got locked out of their network or lost access to their devices due to a breach, and one in
10 people have reported they had up to $5,000 stolen from them as part of a cybersecurity breach. The consequences can extend even further. Nearly one in five have had their personal data or identity stolen.
It’s clear that these threats are very real, and the consequences are too. Any intrusion, whether it results in a loss of money, data, or access can cause disruptions that range from minor annoyances to long-term damage. Unfortunately, many consumers refuse to acknowledge the risk, find it too overwhelming to deal with security best practices, or simply don’t know what steps to take. While threats are pervasive, there are low-effort, high-impact, ways that consumers can protect themselves.
The Simple Security Solution
With technology-related security risks and concerns on the rise, users can rest assured that NETGEAR is helping to address the heart of the issue with top-notch product security in several ways. First and foremost, powered by state-of-the-art encryption protocols and advanced threat detection mechanisms, NETGEAR routers and mesh systems stand as the first line of defense against evolving cyber threats and include security features such as automatic firmware updates, VPN support, access control, third-party testing, and separate IoT and guest WiFi networks. Further, NETGEAR routers are equipped with the Wi-Fi Protected Access 3 (WPA3) security feature, the third iteration of a security certification standard developed by the Wi-Fi Alliance.
NETGEAR Armor™ Powered by Bitdefender
Additionally, NETGEAR Armor™ Powered by Bitdefender provides an added layer of protection for your home network and devices at the router level. It helps provide an automatic shield of security for connected devices and added privacy with VPN. Unlike traditional endpoint antivirus products, Armor is built into the router as an all-in-one security solution, helping protect computers, security cameras, baby monitors and other IoT devices on the network and eliminating the need for multiple security subscriptions or software.
New Advanced Router Protection
NETGEAR is even going the extra mile with a unique new security feature. Debuting on the Orbi 770 Series WiFi 7 mesh system, NETGEAR’s exclusive new Advanced Router Protection feature, developed in partnership with Bitdefender, a global leader in cybersecurity software, protects the router from not only known threats but also from most unknown threats using a combination of AI heuristics and advanced exploit prevention to recognize and help block exploitation attempts. It also enables the capability to quickly release live patches for threats without needing to wait for a new firmware release. This significantly improves response times compared to the traditional method of releasing firmware updates for each specific router model and further strengthens NETGEAR’s commitment to provide industry leading security protection for our router and mesh products from cyberattacks.
NETGEAR Security
While consumers hear about security risks and know they exist, they might be overwhelmed by the prospect of these cyber-attacks happening to them, and unsure of how to protect themselves. NETGEAR thinks about cyber-security from multiple perspectives – starting from the hardware itself to innovative software – to provide simple and effective solutions that help protect families and their devices at home and on the road. To learn more about NETGEAR Security, see here.
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