IoT Security Statistics and Forecasts

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.

IoT Security Infographic