A new survey released by Altman Vilandrie & Company, which surveyed 400 IT personnel who have purchased Internet of Things (IoT) security products, shows that 46 percent of companies that buy IoT security admitted they have experienced an IoT related security intrusion or breach within the last two years, representing hundreds of millions of dollars.

According to the survey, the reasons why companies are investing in IoT security products are to:

  • prevent loss of control over IoT
  • prevent breaches of customer information
  • prevent breaches of company data
  • compliance
  • customer requirement

IoT continues to be a concern of IT professionals, and as more and more companies and consumers adopt IoT products and services, the evaluation of investment into IoT security may move up on the priority list.