The “Internet of Things,” while difficult to define, has evolved into one of the fastest-growing industries in the technology world. Recent reports reveal that spending on IoT-related devices is expected to reach $1.6 billion over the next five years. Moreover, the increasing popularity of IoT devices has led to a significant increase in IoT app development. Though this poses obvious financial opportunities, it also carries with it some concerns related to security.
Forecast end-user spending on IoT solutions worldwide from 2017 to 2025. Source: Statista