Global IoT Security To Reach $US52.3 Billion by 2026
The security in IoT market will reach $US52.3 billion globally by 2026, with cloud-based IoT security solutions the largest portion.
According to researchers, distributed denial of service protection for IoT systems will reach $1.58 globally by 2026, IoT security in smart buildings will reach $4.55 globally by 2026, and cloud-based IoT security solutions will reach $30.33 billion globally by 2026.
Investments associated with securing IoT will grow at a rapid pace throughout this decade and IoT security market drivers will include convergence of IT and OT security policies, changes in infrastructure technology
increased demand for connectivity, standardization of network security policies, securing mobile device and mobile applications, and securing cloud.
Meanwhile, IoT security market challenges include the multivendor nature of IoT business, lack of global standards, lack of standard security practices and IoT devices are already in the market with few security measures. IoT is also a soft target for data leaks and privacy breaches, which often go unnoticed.
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