How much will organizations spend to secure the Internet of Things?
A new study says IoT security spending will skyrocket about 500% by 2025—from nearly $2 billion in 2017 to nearly $10 billion.
Grand View Research says the spend is directly related to the IoT's value in generating revenue opportunities for businesses:
Proliferation of connected devices is leading to massive generation of data used for enabling creation of new business models such as Products-as-a-Service (PaaS) or automated real-time decision making.
Such rapid developments within the IoT ecosystem are opening new vectors of attack, such as device manipulation, data & identity theft, data falsification, IP theft, and network manipulation, for hackers.
With growing significance of IoT in corporate and government as well as critical infrastructure, privacy and security concerns are rapidly increasing, thereby augmenting the market.
We expect to see Securing the Internet of Things appearing on agendas for SecureWorld 2019 conferences across North America.
