IoT cybersecurity devices to double to 28 billion by 2028
A study conducted by Juniper Research has projected that the global number of Internet of Things (IoT) devices secured by cybersecurity solutions will double to reach 28 billion by 2028.
The report highlights a significant growth trajectory from 14 billion devices in 2024, indicating over a 100% increase in the span of four years. However, the research warns that the expanding complexity of IoT networks necessitates robust frameworks to address the growing challenges in IoT cybersecurity.
Juniper Research's study emphasizes the importance of implementing zero-trust architecture (ZTA) frameworks for the protection of enterprise IoT users. These frameworks are designed to operate on principles that prevent any device within a network from being inherently trusted, thereby requiring continual authentication. This process allows for improved visibility of IoT device activities, fostering early detection and mitigation of potential threats.
As the adoption rate of IoT networks increases, particularly with the rapid digitalisation observed in small-to-medium enterprises (SMEs), the deployment of ZTA frameworks across various network sizes will become critical. The adaptable nature of these frameworks is vital to ensuring that cybersecurity solutions can evolve alongside the growing number of connected networks.
Michelle Joynson, Research Author at Juniper Research, stated, "The IoT cybersecurity market is expected to reach $51 billion by 2028; partly driven by adoption from SMEs. To capitalise, vendors must simplify their solutions in a time when IoT architectures are becoming increasingly complex, and a greater number of connectivity technologies are used."
Juniper Research's comprehensive study provides a detailed assessment of the IoT cybersecurity landscape, including market analysis and forecasts for 60 countries. The research dataset spans over 18,200 market statistics covering a five-year period, and includes a competitive analysis of companies within the field.
