IoT security spend will break the record and touch $1.5 billion in 2018

Nowadays, internet security has become a challenging issue for all the cyber security agencies in all over the world. As per the news coming out from the sources, it is revealed that the enterprises worldwide will spend around $1.5 billion on IOT (Internet of Things). The whole cost and spend will make to protect the IOT networks and connected devices against all kind of online security threats. It is an average estimate which has been published by Gartner.

According to Gartner, the spending figure is increasing by 28% as compared to the spend of last year. To protect our IOT and devices, this number could even increase in the future, as organizations worldwide are getting more and more aware of the security connections of the connected devices. Gartner predicted that this figure will increase and reach up to over $3.1 billion by 2021.

This news is quite shocking for all the IT-based companies and the industry sectors as online security threats are increasing day by day. In this case, organizations need to increase their ways and the understanding of the implications of the externalizing and internet network connectivity. These will be the main drivers of the spending growth for the forecast period.

We need to add much more tools and the security-based services aimed at improving the assets management, software, and hardware assets and on such services. In this matter, an interview was conducted by a news spokesperson to the Ruggero Contu, research director at Gartner. Ruggero Contu suggested some ways and explain the reason behind this hike in spending on IOT (Internet of Things).

IOT Based Threat

“IOT based threats usually come from the unauthorized devices which we sometimes connect to the enterprise system,” says Ruggero Contu, research director at Gartner. He further added that new enterprises should more concern about the threats coming from the unauthorized devices. In his statements, Contu added that “Interest is growing at such high pace which improves the automation in operational processes. The automation in operational processed is done through the deployment of intelligent connected devices which includes sensors, robots, and remote connectivity.

Because of this new innovation, the IOT (internet of things) is impacting the security in industry sectors. Contu was pointing out the industry sectors ( energy, oil, and gas, ) which are deploying the operational technology.

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