The Internet of Things ( IoT ) security market is set to grow from $ 300 this year to $ 37bn by 2020 , according to a report by RnR Market ##watch . banking , financial services and telecommunications are predicted to be the biggest players in the security market , with the increased adoption of mobile banking , while North America is predicted to grab the largest market share , due to technological advancements . The sub - Pacific region will see the biggest growth while markets in South America and the Middle East are untapped .
The Internet of Things (IoT) security market is set to grow from $7.9bn this year to $37bn by 2021, according to a report by RnR Market Research. Banking, financial services and insurance are predicted to be the biggest players in the security market, with the increased adoption of mobile banking, while North America is expected to grab the largest market share, due to technological advancements. The Asia-Pacific region will see the biggest growth while markets in Latin America and the Middle East are untapped.