The IoT Security Market was valued at USD 25 billion in 2023 and is expected to reach USD 153.44 billion by 2032, growing at a CAGR of 22.40% from 2024-2032.
Internet-connected devices are everywhere — in our factories, hospitals, transit systems, and homes. But as the Internet of Things (IoT) expands, so does the surface area for cyberattacks. The real question facing businesses and institutions isn’t whether they should secure their IoT environments — it’s how, and how fast.
The IoT security market has become one of the most urgent priorities in enterprise IT, driven by a surge in connected sensors, industrial controls, and consumer tech with minimal built-in protection. From data leakage to ransomware delivered through a vending machine, threats now come from places most teams never thought to look.
“It’s not just about firewalls and antivirus anymore,” said Julia Marston, VP of Product at CyVista, a U.S.-based firm specializing in device-level IoT protection. “We’re seeing attackers exploit HVAC systems, medical scanners, factory robots — anything with an IP address. And most of those devices weren’t built with security in mind.”
As organizations deploy millions of embedded devices — many in hard-to-reach environments — they’re struggling to manage identity, patching, and authentication at scale. That’s where modern IoT security platforms are stepping in, offering real-time anomaly detection, device visibility, and policy enforcement without overburdening the network.
The U.S. has become a critical market, with government contracts and infrastructure projects accelerating demand for IoT cybersecurity across sectors like defense, smart cities, and energy. At the same time, federal guidance and state-level legislation are putting pressure on manufacturers to adopt stronger security-by-design practices.
For providers like CyVista, the focus is on making security seamless, not scary. “Our job is to make protection automatic — something customers don’t need to constantly babysit,” Marston added. “Because in a world of 20 billion connected devices, nobody has time to micromanage risk.”
As the threat landscape grows more complex, expect to see tighter integrations between IoT security and traditional enterprise IT — from SIEM systems to zero trust architectures.
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