More than half of major new business processes and systems will incorporate some element of the Internet of Things (IoT) by 2020, according to Gartner.
"Uses of the IoT that were previously impractical will increasingly become practical," said W. Roy Schulte, VP at Gartner. "Business analysts and developers of information-centric processes need to have the expertise and the tools to implement IoT aspects that play a role in their systems."
Gartner has made additional predictions for IoT. First, through 2018, 75% of IoT projects will take up to twice as long as planned.
For some projects, compromises will be made to keep them on-schedule, leading to significant weaknesses in performance, security or integration into existing processes. In the mid-to-long term, these compromises will require that the IoT project be refactored and perhaps even recalled and redeployed.
Second, by 2020, a black market exceeding $5 billion will exist to sell fake sensor and video data for enabling criminal activity and protecting personal privacy.
The nature of IoT solutions, how they are deployed, and the types of data they generate and consume are giving rise to new security and privacy implications that organizations must begin to address.
And third, by 2020, addressing compromises in IoT security will have increased security costs to 20% of annual security budgets, from less than one percent in 2015.
As use of IoT devices grows, however, the unique requirements of IoT architecture, design and implementation over multiple industry segments and scenarios will also grow.
As a result, Gartner believes that the average security budget for IT, operational technology (OT) and IoT security requirements will respond to the growth of IoT devices across all business segments and scenarios, rising from less than 1% of annual security budgets in 2015 to 20% in 2020.