Juniper Research: IoT Security Spend to Reach $6 Billion by 2023, Growing 300% from 2018
BASINGSTOKE, England–()–A new study from Juniper Research found that spending on IoT (Internet of Things) cybersecurity solutions is set to reach over $6 billion globally by 2023. It highlighted rapid growth, with spending by product and service providers (in consumer markets) and end-customers (in industrial and public services markets) to rise nearly 300% over the forecast period.
Juniper’s new research, The Internet of Things for Security Providers: Opportunities, Strategies & Forecasts 2018-2023, claimed that growing business risk and regulatory minimum standards would serve as key spending drivers.