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The IoT Analytics chart highlights several important trends and potential issues in the enterprise IoT market:

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▫ IoT Hardware and Software: Significant investment and growth in IoT hardware ( %) and software ( %) indicates a strong focus on developing and deploying new IoT devices and applications.

▫ Projected Growth: The total spending on IoT technologies is projected to grow from $235 billion in 2022 to $690 billion by 2030, indicating a compound annual growth rate (CAGR) of around 15%.
Negligible Investment in IoT Security.

▫ Low-Security Investment: Despite the rapid growth in IoT hardware and software, only ( %) of the spending is allocated to IoT security. This disproportionate investment raises concerns about the potential security risks associated with the proliferation of IoT devices.

▫ Security Gaps: The minimal investment in IoT security suggests that many vulnerabilities may go undetected and unaddressed, exposing the entire IoT ecosystem to potential threats.

 To address this imbalance, organizations must ( ): lignment with industry standards, larity in security protocols, and ransparency in security practices are essential to mitigate the risks associated with the rapid growth of #IoT technologies. By prioritizing #security, organizations can protect their IoT infrastructure, safeguard user #data, and ensure the #resilience of their operations in our increasingly connected world.

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