Seventy percent of IT decision-makers at small-to-mid-size businesses do not believe the C-Suite will increase IT spending to provide them with the resources necessary to tackle additional security problems created by the Internet of Things, according to a survey conducted by Opinion Matters for GFI Software.
Almost 80% of survey respondents expect their security practices to change as a result of the Internet of Things. Mobile devices will create the most problems for IT administrators at small-to-mid-size companies who operate within an Internet of Things, according to the study, in which 81.7% of respondents chose mobile devices as their number one concern.
Research firm IDC projects technology and services revenue for the Internet of Things will increase from $4.8 trillion (£2.9 trillion, AU$5.3 trillion) in 2012 to $7.3 trillion (£4.4 trillion, AU$8.2 trillion) in 2017, with a compound annual growth rate of 8.8%.
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The major players
Technology vendors like Cisco, Microsoft, IBM and AT&T have all recently announced significant plans to increase their Internet of Things capabilities. In March, Cisco said it would invest $1 billion (about £605 million, or au$1.1 billion) to build what it said would be the world's largest Intercloud network to tackle the Internet of Everything. In February, IBM and AT&T joined together in a global alliance to develop support for the Internet of Things, and Microsoft announced a task force focused solely on the Internet of Things.
The survey consisted of responses from 202 IT decision-makers across the United States. The survey defined small-to-mid-size companies as businesses with 250 employees or fewer.