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LONDON, Jan. 27, 2021 /PRNewswire/ -- IoT is currently experiencing an increased demand in security services focused primarily around secure device management, network security, secure data hosting, over-the-air device management, and firmware updates will push IoT security services to US$16.8 billion by 2026, according to new research by global tech market advisory firm
ABI Research.
"The fervent expansion of IoT communications and interconnected assets has become a rather attractive target for cyberattacks, which have been increasing in intensity and sophistication with each passing year. Additionally, since the onset of the COVID-19 pandemic IoT connectivity, digitization and automation demands have risen sharply for most end-markets while digital security services struggled to maintain IoT operations under overburdened IT infrastructures for Operational Technologies (OT) assets," explains Dimitrios Pavlakis, Digital Security Analyst at ABI Research. These realizations alone did not sway the perspective of many IoT players who still chose to forego security across a wide range of IoT applications, mainly industrial, infrastructure, healthcare and other OT-heavy markets.