Organizations losing business due to connected product security concerns

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59% of executives with cybersecurity decision-making responsibility at large and mid-sized companies say that their organizations have lost business due to product security concerns for connected devices and embedded systems, according to a Ponemon Institute survey. The results highlight a growing need to strengthen supply chain security by securing connected devices, including those connected to the Internet of Things (IoT).

45% of respondents’ customers want detailed information about the components of their devices, but only 11% of organizations have high confidence in their ability to respond to those requests.

The survey found that visibility is low into potentially impacted systems: only 27% of respondents say their organizations conduct software composition analysis (SCA) for all connected products’ software and only 30% say their organization can easily generate a software bill of materials (SBOM) for each product.

“Hackers are finding new ways to exploit IoT/connected device vulnerabilities, and this data shows the troubling realization that many organizations are not prepared,” said Matt Wyckhouse, CEO of

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