The growing usage of connected devices and networks and an increase in cyberattacks on Internet of Things (IoT) devices are contributing to the growth of the IoT security market, according to The Internet of Things Security Market – Forecasts from 2022 to 2027 report released by Research and Markets.
The growing adoption of connected devices and networks has increased concerns related to cyber threats. IoT involves adding internet connectivity to a system of interrelated devices and digital machines. This complex integration and interconnectivity of systems have also led to a rise in cyberattacks on devices to gather confidential data. As such, the demand for IoT security solutions is growing worldwide in order to detect, resist and recover various IoT devices from malicious attacks.