Worldwide IoT spending has been significantly impacted by the economic effects of the pandemic in 2020, although a back to double-digit growth rebound is expected both in the mid and long-term
"IoT spending is growing 8.2% year over year to $742 billion in 2020 down from 14.9% growth forecast in the November 2019. Nevertheless, global IoT spending is expected to return to double-digit growth rates in 2021 and achieve a compound annual growth rate (CAGR) of 11.3% over the 2020-2024 forecast period..."
To address IoT security concerns, it is critical for IT leaders to adhere to IoT compliance standards. Learn more about IoT compliance and its IT-relevant standards.
"IoT is here. But be aware: Despite the excitement -- and challenges -- generated by it, IoT technology is still largely a work in progress.
While IT professionals are increasingly intrigued at how IoT can enhance their organizations, they must also be concerned about its risks. One way to address these concerns is to establish a process for compliance with appropriate standards, regulations, benchmarks and controls. Additionally, IT teams must be familiar with the existing IoT compliance standards and how their organization can comply with each of them..."