Security News > 2021 > August > IoT market to reach $1.5 trillion by 2027, security top priority

Driven by increased adoption of smart sensors integrated into connected devices, the Internet of Things market segment is projected to reach $1.5 trillion by 2027.

While IoT devices have the opportunity to revolutionize the way people work, live and play, insufficient implementation of embedded security has the potential to derail these benefits.

The state of IoT devices security 84 percent of security professionals believe IoT devices are more vulnerable than computers.

Only 16 percent of enterprise security managers say they have adequate visibility of IoT devices in their environments.

"Lack of IoT device security exposes customers to the danger of a breach that can lead to IP theft, damage to a company's brand, and loss of customer trust. With trillions of dollars on the line, there is an immediate need to secure devices across their entire lifecycle to help overcome complex cybersecurity challenges."

"If manufacturers do not implement IoT device security practices, the government will likely step in to regulate this area as part of their consumer protection policies," said Attfield.

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