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IoT security market will hit $9.88B by 2025, as privacy issues abound

November 26, 2018 / Macy Bayern

The Internet of Things (IoT) security market was worth $1.24 billion in 2017, but it is expected to his $9.88 billion by 2025, according to a recent report from Grand View Research. This increased emphasis on IoT security directly correlates with the influx of IoT devices in the enterprise: Devices embedded with artificial intelligence (AI) are expected to increase from 79 million in 2017 to 1.2 billion in 2023, according to a recent Deloitte report. With IoT products used for AI and machine learning, wireless networking, the cloud, and more, cybercriminals have countless tools of attack to choose from, leaving businesses and consumers vulnerable to a breach, the report found. SEE: Enterprise IoT research: Uses, strategy, and security (Tech Pro Research) Smart home and consumer uses overwhelmed the IoT market in 2017, the report found, and this sector is expected to reach $2.93 billion by 2025. But IoT systems also have a large presence in healthcare and life sciences, infrastructure a...