Global loT Security Market Report, Forecast 2027

The global IoT security market was valued at USD 8,689.0 million in 2019
and is expected to be valued at USD 58,438.3 million by the end of 2027
registering a significant CAGR of 27.0% over the forecast period, 2019-2027.
The Asia Pacific market is the fastest growing and will continue to expand
throughout the forecast era. The region is dominated by major market
players, such as India, China and Japan.

While relatively new as a technology, the Internet of Things (IoT) has

evolved from its initial stage of incubation into a clearly defined set of use
cases that provide discernible advantages to a variety of market verticals.
Through allowing the integration of IT and operational technology (OT)
networks, IoT significantly improves process automation, supply chain
management and regulatory enforcement and significantly reduce capital
and operating costs.

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In fact, IoT is a key enabler of digital transformation in an enterprise with

the capacity to improve labor productivity, market efficiency and
profitability, and overall employee engagement. IoT defense can be
described as a security strategy and a protection mechanism that
specifically protects against cyber-attacks on IoT devices that are connected
to the network and deliberately built for a specified set of functions.
Without robust security, every linked IoT device is susceptible to being
hacked, exploited and operated by a bad actor to potentially steal user data
and bring down systems.
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Network security and operations teams will integrate IoT Security into the
standard practice, process and protocol and ensure that these unmanaged
devices come within the same degree of visibility and control as those
controlled. Endpoints on the network are equipment that are connected to
the Internet, and this involves IoT devices. Each endpoint provides a
potential entry point for a bad actor to expose the network to external
risks. Therefore, as with other endpoints, IoT devices are vulnerable to
strong breaches.

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