GSMA IoT Security Statistics
Worldwide IoT Security Spending will increase by 73% until 2019.
IoT security spending was $113 Billion in 2015 and is forecast to be $195 Billion in 2019.
There will be 26 Billion Connected Devices by 2020, which creates an exponential increase in New Security Threats.
Lack of Trust
- 60% of Consumers Worry About a world of connected things
- 62% name privacy as their main concern
- 54% say security is their #1 worry
- 27% fear it will lead to physical safety issues
Global Cost of Cybersecurity Crime
It was $400 Billion in 2015 and it's forecasted to be $2 Trilion by 2019
New Challenges for Companies
- 47% of their IoT Developers name security as their top concern
- 12% of enterprise organizations say they lack the right IT security skills
- 25% of identified attacks in enterprises will involve the IoT by 2020
The Global IoT Security Market is forecast to grow at a CAGR or 36% between 2016 and 2021.
By 2020, 20% of Annual Security Budgets will be devoted to IoT solutions - up from 1% in 2015
By the end of 2017, over 20% of businesses will employ digital security services devoted to protecting business initiatives in the IoT.
See the full GSMA infographic here.