IoT Security technology maturity is on the rise in industrial settings, transport and automotive,etc.

IoT Security technology maturity is on the rise in industrial settings, transport and automotive, government and public services. With risk assessments becoming more common for operational technologies, and security imperatives increasingly part of C-level discussions, ABI Research expects IoT implementers and manufacturers to significantly up investment in secure IoT deployments. 

There is a nascent chip-to-cloud, end-to-end security management market specifically targeted for IoT high-growth markets: industrial, connected car, utilities, city, retail, supply chain, and wearables. According to Michela Menting, Research Director at ABI Research, “In the European Union and the U.S., these market movements are supported by increasing regulatory and policy discussion over IoT security. Further, increasing standardization, specification, reference architectures, and best practice guidelines are emerging to support security in the IoT, facilitating secure development and deployment for OEMs and DevOps.”

These dynamics are reflected in increased M&A activity, with top deals including the Intel acquisition of Mobileye for US$15.3 billion, and Samsung’s acquisition of Harman for US$8 billion. High-level funding rounds include US$300 million in Truphone for IoT connectivity and US$200 million in IBM Watson IoT.