IoT Cybersecurity Market: 2024-2029

The IoT cybersecurity market has been driven by increasing growth in IoT deployments, as organisations and industries rapidly continue to transform digitally. Increasing remote work and digitalised equipment have pushed businesses to expand their IoT ecosystems, which has created growing complexity in IT infrastructures.

This complexity has led to less visibility of enterprises’ and organisations’ attack surfaces, leaving them vulnerable to cyberattacks if they do not implement robust cybersecurity measures. Cyberattacks continue to rise year-on-year, and increasingly sophisticated attacks, such as those powered by AI or delivered through malicious service providers, continue to plague organisations and industries. These attacks, along with increasing regulations and standards surrounding cybersecurity in IoT, remain key market growth drivers.