IoT security spending to spike above $1.5 billion in the next year

IoT security spending to spike above $1.5 billion in the next year

The market for IoT security products is set to grow sharply, as the general IoT market becomes ever more ubiquitous, according to a report released this month by Gartner Research. While there are numerous drivers behind the increased demand for IoT security, a growing sense that regulatory compliance will shortly become an issue is one of the most pressing.

The report lists security as the top barrier to success for IoT initiatives, according to a survey on IoT adoption conducted by Gartner. A big part of the problem, the report said, is that businesses often don’t have full control over which devices and software are being used at each level of a given IoT project.

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