IoT ecosystems are underpinning more and more services across the UK. Before we look at cyber security in an IoT context, it’s worth recounting how we arrived in a connected world.

The UK is set to spend over £9bn this year on PFI contracts – and a total of £48bn in the next five years. This level of spending will continue until we see the first peak in contracts expiring around 2030. Expiry will see assets worth £14bn (their original capital value) transferring back to public ownership.