Study Predicts IoT Security Spend To Reach $348mn In ’16

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According to research company Gartner, the global security expenditure on Internet of Things (IoT) will reach $348 million (roughly ₹2,321 crore) in 2016. This will be a 23.7% increase from last year, the company added. Additionally, the report predicted that 6.4 billion connected devices will be in use worldwide in 2016, a 30% increase from 2015.