IoT Growth and Cyber Security

Report Overview

IoT Growth and Cyber Security

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IoT Growth and Cyber Security
  • The Internet of Things (IoT) represents a significant change in the way individuals, businesses and society will interact and rely on internet enabled devices.
  • Globally, IoT devices will grow from 5.6 billion in 2016 to 18.1 billion by 2022.
  • IoT related risks range from loss of privacy and direct business costs to global botnet attacks, major infrastructure disruption and potential loss of life.
  • Only 25% of companies have a formal approach or strategy for securing the IoT, compared with 71% of companies having a strategy for traditional cyber security.
  • Given the growing risks, global standard bodies and governments are developing IoT cyber standards and exploring regulatory options.
  • New products are also emerging focussed on providing better IoT security for organisations.