IoT security market to exceed $28 billion by 2020

Rambus Blog, Apr. 07, 2016 – 

A new report published by Research and Markets projects that the Internet of Things (IoT) security market will increase from $6.89 billion in 2015 to $28.90 billion by 2020.

"With the technological advancement and increasing application of networking, the concern for security has become a global phenomenon and its intensity is increasing every day," the researchers explained in a report summary.

"Prior to the emergence of IoT, the adverse effect of threats was limited to theft of money and intellectual properties. Now, the effect can lead to loss of human life, hacking of critical infrastructures like electricity and nuclear power grids, organizational productivity, and even national intelligence."

The researchers also noted that mandatory government regulations pertaining to data protection has augmented investment in IoT security.

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