People are really worried about IoT data privacy and security—and they should be

A new study from the Economist Intelligence Unit (EIU) shows that consumers around the world are deeply worried about in how their personal information is collected and shared by the Internet of Things (IoT). But let’s be honest, the problem isn’t that unsophisticated consumers are panicking for no reason. In fact, consumers are merely picking up on the very real inherent risks and uncertainties surrounding IoT data.

Businesses are also worried about IoT security

I’ll get into the results and implications of the survey in a moment, but first I want to note that business and professionals are equally concerned. Perhaps that’s why Gartner just predicted that IoT security spending will hit $1.5 billion by the end of the year, up 28 percent from 2017, and more than double to $3.1 billion by 2021.

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