Governments around the world are waking up to the security implications as the internet of things is set to pervade the world and will spend an immense amount of money to improve cyber security.
The internet of things is a catch all term for a time when just about anything you care to imagine has semiconductors inside, able to communicate with just about everything else.
ABI Research said that it estimates that cybersecurity spending will hit $109 billion by the end of this decade, with governments in North America and Europe spending and spending again on security for network, for systems and for data.
The governments, said ABI, will concentrate on security for the financial, energy and defence sectors as they are the ones most targeted.
The energy sector is under particular threat, with attacks on industrial control systems.
However, there are sectors which are particularly vulnerable, including utility companies, said Michela Menting, practice director at ABI Research.
She said: “IT spending will dominate cyber security investment for critical infrastructure protection to the detriment of securing operational technologies in industrial settings.”
