Worldwide spending on Internet of Things security will reach $348 million in 2016, a 23.7 percent increase from 2015 spending of $281.5 million, according to Gartner. Furthermore, spending on IoT security is expected to reach $547 million in 2018.
“It’s encouraging to see the investment in security spend for IoT increase, it will however not be enough based upon Gartner forecasts. Our reliance on such devices will extend to well beyond consumer IoT, and such technology will form the basis of our critical infrastructure moving forward. Outsourcing to the cloud will become the de-facto approach for most organizations, but without trust the rate of adoption will be significantly impacted,” Raj Samani, CTO, Intel Security EMEA, told Help Net Security.