IoT spending will reach $348 Million this year – Gartner Report

Cyber Security is the most lucrative business of this decade this makes security professionals the best paid people on the earth. The latest report by an analyst firm Gartner predicts an extraordinary growth of 23.7 percent this year. The report indicated that; global spending on Internet of Things (IoT) will reach a whopping $348 Million.

The Internet of Things (IoT) will revolutionize the Infosec Industry.

The report also indicated in next two years the IoT spending will reach $547 million worldwide. The growing number of IoT adaptation by companies and consumers will only increase the need of security products.

Products like connected cars, heavy machinery, commercial aircraft, farming and construction equipment all these things will increase the need of security; which will eventually result in the boom of security industry.

The research firm further predicts that; towards the end of this decade more than 25 percent of identified attacks in enterprises will involve IoT, despite IoT accounting for less than 10 percent of total IT security budgets.

According to Gartner researcher; “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,”

He further 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 organisations in a cost-effective manner.”

The huge sum of spending in coming years will open huge opportunities for investors and young infosec professionals to startup their own firms and make a name for themselves in the industry. The infosec industry have been going through a revolutionary period and this has provided everyone great opportunities.

It doesn’t matter if you setup a security business in a developed country or a third world country. The huge sum of spending will find its way to you. 

Ehacking Staff
With more than 50 global partners, we are proud to count the world’s leading cybersecurity training provider. EH Academy is the brainchild of Ehacking, which has been involved in the field of training since the past Five years and continues to help in creating professional IT experts.

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