ABI Research identifies three distinct IoT markets based on low, moderate, and high security requirements in this report from April 2021. The “low security” requirements category included buildings, home appliances, home monitoring, home security & automation. The “moderate” category included commercial building automation, condition-based monitoring, gas meters, video surveillance, smart meters, and water meters. “High security” category in buildings could include Automated Teller Machines (ATMs), healthcare equipment monitoring, patient monitoring, OEM telematics, and usage-based insurance. The amount of IoT security revenue available does not always correlate with the amount of IoT connections, and “disproportional” allocations of revenue can be seen in some markets. This is due to the multi-faceted level of security and management requirements that provide the foundation for other key operations and valuable services, including for intelligence operations and analytics, life cycle management and predictive maintenance, firmware updates, and device and data integrity.
Key Words: Architecture/Engineering, Home Networking, Intelligent Building, Cybersecurity/Privacy, Market Sizing, Security Controls/Systems, Software Development, System Integrator, System Monitoring Equipment, IoT