Gartner: IoT security spend hitting $1.5 billion – but strategy poor

Worldwide spending on Internet of Things security will hit $1.5 billion in 2018, a 28 per cent increase from 2017, according to a new report from Gartner. However, the analyst company warns that IoT security is being left up to line-of-business units, with a lack of overall business strategy, poor “security by design”, and little control over the technology within connected devices. Its report, Forecast: IoT Security, Worldwide 2018, says that IoT-based attacks are already a reality. A recent Gartner survey found that nearly 20 per cent of organisations have experienced at least one IoT-based attack in the past three years.