The global market for Internet of Things (IoT) cybersecurity is poised for explosive growth, with a new study from Juniper Research forecasting a rise in protected IoT devices from 14 billion in 2024 to 28 billion by 2028—an increase of more than 100%. This surge is driven by mounting security challenges as IoT networks become more complex, creating new opportunities for cybercriminals to exploit vulnerabilities.
In fact, the IoT cybersecurity market itself is expected to reach a staggering $51 billion by 2028. Small and medium-sized enterprises (SMEs) are likely to contribute to this growth as digital transformation accelerates, demanding stronger security for their interconnected devices.
As IoT ecosystems expand and improve business efficiency, the complexity of these networks also increases, with each connected device becoming a potential target. The report warns that weak IoT security poses significant risks, including data breaches, financial losses, and regulatory violations.
Zero-Trust Architecture: A Key Solution
To combat these threats, the study highlights Zero-Trust Architecture (ZTA) as a crucial solution for securing IoT devices. ZTA operates on a continuous authentication model, ensuring that no device is inherently trusted within the network, and actively detects and mitigates threats in real time. This approach helps limit vulnerabilities in large, distributed IoT networks, making it an ideal solution for expanding systems.
Moreover, ZTA’s scalability allows businesses to implement it across diverse IoT devices, addressing both current and future security needs as the market grows.
Simplified Security Solutions for Complex Networks
Michelle Joynson, lead author of the report, stresses the importance of simplifying cybersecurity solutions in light of increasingly complex IoT architectures. Vendors must provide solutions that can effectively secure a growing range of devices and connectivity technologies.
This comprehensive study, titled Smart Defences for Smart Devices: AI in IoT Cybersecurity, analyzed over 18,200 market statistics over five years, providing a deep dive into the trends shaping the future of IoT security.
With the IoT landscape expanding rapidly, the push for enhanced cybersecurity will be vital in protecting the billions of devices set to come online in the coming years.
