Gartner: worldwide IoT security spending will increase with 23.7% in 2016

Gartner estimates that the worldwide spending on Internet of Things (IoT) security will increase with 23.7% in 2016 (compared to the previous year), amounting to a total of 345 million USD. Spending on IoT security is expected to reach 547 million USD in 2018. The company also predicts that there will be 6.4 billion IoT connected devices in use worldwide in 2016, and 11.4 billion by 2018. By 2020, more than 25% of identified attacks in enterprises will involve IoT, although IoT will account for less than 10% of IT security budgets.