The global cybersecurity spend in critical infrastructure is expected to reach $135 billion in 2024 by market intelligence firm ABI Research.
Despite billions being directed to secure critical infrastructure, digital security investments in smart cities will continue lagging until 2024.
The lag seeds the future vulnerabilities of the IoT ecosystem whilst on the other hand, the use of IoT by the urban population to develop intelligent, efficient and sustainable solutions is set to increase.
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Source: Smart Energy International