IoT Growth to Trigger $16.8B Security Market by 2026: ABI

Global IoT connections will nearly triple to 23.6 billion by 2026, ushering in “a slew of new threat vectors and vulnerabilities” that will fuel a $16.8 billion business in IoT security, reported ABI Research Tuesday. Such concerns are “widespread,” said analyst Michela Menting. “There are limited IoT security solutions in the market, due in large part to the fragmented nature of the IoT itself.” The volume of IoT security revenue won’t always correlate with the number of connections, and some markets are expected to experience “disproportional revenue” growth, said Menting.