Spending on Securing IoT Medical Devices Low But Will Triple in Five Years, Says ABI

Cybersecurity spending on connected medical devices by healthcare providers and OEMs will reach $5.5 billion this year, but "only $390 million" of that will be earmarked for securing medical devices, said ABI Research in a news release Monday. "Healthcare stakeholders have to understand that there is a new hostile environment that will emerge around networked medical devices and that threat actors have multiple levels of skills and diverging motivations for attacking the medical IoT," said Research Director Michela Menting. While the U.S. is the only country "putting significant energies" into this area, ABI said awareness is increasing and global spending will triple by 2021.