IoT security spending to reach $348m this year

Worldwide spending on Internet of Things (IoT) security will reach US$348m in 2016, a 23.7% increase from 2015 spending of $281.5m, Gartner predicts. “Spending on IoT security is expected to reach $547m in 2018,” the firm says. “Gartner predicts that IoT security market spending will increase at a faster rate after 2020.”