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According to the latest forecast by research and consulting firm Gartner, Inc.
, global IoT security spending will reach $1.
5 billion in 2018, up 28%
from $1.
2 billion in 2017.
Cyberattacks on the Internet of Things (IoT) are already a reality
.
A recent survey found that nearly 20% of organizations have detected at least one IoT-based attack
in the past three years.
Ruggero Contu, research director at Gartner, said: "In IoT initiatives, organizations often have no control over the origin and nature of
the software and hardware used by smartly connected devices.
”
"We want to see a demand for tools and services designed to improve discovery and asset management, software and hardware security assessments, and penetration testing
.
"
Ruggero Contu added, "These factors will be the main drivers of spending growth during the forecast period, with IoT security spending expected to reach $3.
1 billion
in 2021.
" ”
Despite the steady year-over-year growth in global spending, Gartner predicts that the biggest inhibitor to IoT security growth through 2021 will come from a lack of prioritization and security best practices and tools
in planning to implement IoT initiatives.
This will hinder 80% of potential spending
on IoT security.
According to the latest forecast by research and consulting firm Gartner, Inc.
, global IoT security spending will reach $1.
5 billion in 2018, up 28%
from $1.
2 billion in 2017.
Cyberattacks on the Internet of Things (IoT) are already a reality
.
A recent survey found that nearly 20% of organizations have detected at least one IoT-based attack
in the past three years.
Ruggero Contu, research director at Gartner, said: "In IoT initiatives, organizations often have no control over the origin and nature of
the software and hardware used by smartly connected devices.
”
"We want to see a demand for tools and services designed to improve discovery and asset management, software and hardware security assessments, and penetration testing
.
"
Ruggero Contu added, "These factors will be the main drivers of spending growth during the forecast period, with IoT security spending expected to reach $3.
1 billion
in 2021.
" ”
Despite the steady year-over-year growth in global spending, Gartner predicts that the biggest inhibitor to IoT security growth through 2021 will come from a lack of prioritization and security best practices and tools
in planning to implement IoT initiatives.
This will hinder 80% of potential spending
on IoT security.
