Technology research company Gartner has warned that by 2020 more than a quarter of identified cyber attacks in enterprises will involve the internet of things, although IoT will account for less than 10 per cent of IT security budgets.
As a result, it says that spend on IoT security must increase if the attacks are to be kept at bay.
Worldwide spending on Internet of Things (IoT) security will reach $348 million in 2016, a 23.7 per cent increase from 2015 spending of $281.5 million, according to Gartner. Spending on IoT security is expected to reach $547 million in 2018. Although overall spending will initially be moderate, Gartner predicts that IoT security market spending will increase at a faster rate after 2020, as improved skills, organisational change and more scalable service options improve execution.
Gartner says that the effort of securing IoT is expected to focus more and more on the management, analytics and provisioning of devices and their data. IoT business scenarios will require a delivery mechanism that can also grow and keep pace with requirements in monitoring, detection, access control and other security needs.
Ruggero Contu, research director at Gartner, said: “The future of cloud-based security services is in part linked with the future of the IoT. In fact, the IoT’s fundamental strength in scale and presence will not be fully realized without cloud-based security services to deliver an acceptable level of operation for many organizations in a cost-effective manner. By 2020, Gartner predicts that over half of all IoT implementations will use some form of cloud-based security service.”
More detailed analysis is available in the report “Forecast: IoT Security, Worldwide, 2016.” More information on the outlook for IoT can be found in the Gartner Special Report “The Internet of Things,” which looks at the necessary steps to building and rolling out an IoT strategy.
Gartner forecasts that 6.4 billion connected things will be in use worldwide in 2016, up 30 per cent from 2015, and will reach 11.4 billion by 2018.
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