Internet of Things, the boom is also boosting the need for cybersecurity

The link between the world of IOT and cybersecurity is becoming increasingly closer and promises exponential growth from now until 2021, as demonstrated in the Report “Internet of Things security market by technology, industry vertical and application – Global forecast to 2021″. A market that is worth over 8 billion dollars and which is estimated to reach 37 billion dollars.

A market worth over 8 billion dollars 

The Internet of Things and cybersecurity is a market worth over 8 billion dollars (data MarketsandMarkets). A growing trend with excellent prospects, given that with an annual increase of around 36% it is estimated that in 2021 it could reach an overall value of over 37 billion dollars. These are factors such as the increasingly widespread use of devices connected to the network and interconnected with each other, or the same “micro-areas” of the network security and home and business networks which until now have shown actual premises for yet more substantial growth. As reported by the website Key4biz, the increased focus on the security of the most critical infrastructures and the need to comply with strict regulatory standards are some of the factors that most affect the worldwide market of cybersecurity applied to IoT.

The short-term and long-term trends of the Industry Report

Networking, cloud, big data and personal data, devices connected to the network, detecting unauthorised access and malicious activity related to the networks, systems and hardware: these are the key sectors that recent studies have identified as the heart of the IoT security market. Furthermore, according to the new Report “Internet of Things (IoT) security market by technology, industry vertical and application – Global forecast to 2021“, in the next few years it will be the turn of security for banking and insurance services (the so-called Bfsi) and, in particular, the entire world of Internet & mobile banking. The reason is very simple, and not surprisingly it involves areas increasingly characterised by the IoT automation and consequently they are generally more vulnerable to cyber attacks.