Over 20% of enterprises will have IoT-centric security by end of 2017: Gartner

CISOs under pressure to find right mix as Internet of Things trend continues

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Over 20% of enterprises will have IoT-centric security by end of 2017: Gartner Perkins: IoT security needs will be driven by specific business use cases that are resistant to categorisation.
By  Stephen McBride Published  September 10, 2014

Over 20% of enterprises will have digital security services devoted to protecting Internet of Things solutions by the end of 2017, according to Gartner, Inc.

Business cases using Internet of Things (IoT) devices already exist and their role in business and industry will force enterprises to secure them, the global research firm predicted.

Gartner analysts will discuss cyber security as it relates to the Internet of Things, at the Gartner Security and Risk Management Summit, running from 15 to 16 September, 2014 in Dubai.

"The power of an Internet of Things device to change the state of environments and of itself, will cause chief information security officers [CISOs] to redefine the scope of their security efforts beyond present responsibilities," said Earl Perkins, research vice president at Gartner.

"IoT security needs will be driven by specific business use cases that are resistant to categorisation, compelling CISOs to prioritise initial implementations of IoT scenarios by tactical risk. The requirements for securing the IoT will be complex, forcing CISOs to use a blend of approaches from mobile and cloud architectures, combined with industrial control, automation and physical security."

Gartner predicts that the installed base of "things," excluding PCs, tablets and smartphones, will grow to 26bn units in 2020, which is almost a 30-fold increase from 0.9bn units in 2009. The component cost of IoT-enabled consumer devices will approach $1, and "ghost" devices with unused connectivity will be common.

There will be a $309bn incremental revenue opportunity in 2020 for IoT suppliers from delivering products and services. The total economic value-add from IoT across industries will reach $1.9trn worldwide in 2020 by which time more than 80% of the IoT supplier revenue will be derived from services. The industries likely to see the greatest value added from the IoT will initially be manufacturing, healthcare providers, insurance, and banking and securities. However, this growth will not be confined there but will expand across all industry sectors.

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