The global Internet of Things (IoT) sensors market is expected to garner US$27.4 Billion in 2022 against US$21.8 Billion in 2021. The fusion of ML, AI, and connectivity is accelerating growth in a number of different industries. Emerging prospects in the worldwide IoT sensors market include the expansion of 5G deployment, increased electronic content in automobiles, electric vehicles, and aerial vehicles, as well as the expansion of IoT equipment in smart homes. We will examine how in this rapid IoT market growth, cybersecurity plays a key role.
Many nations are implementing Smart City projects due to increased urbanization and population levels. Smart meters, smart lighting, sensors, and other connected devices are increasing the effectiveness of infrastructure and other services.
“Favourable initiatives by governments such as smart city projects, across the globe are supporting the growth of IoT-based equipment. Governments are seeking innovation in areas such as energy conservation, smart traffic management, security system improvements, and others. Such actions are likely to offer various remunerative opportunities to the market in the forecast period,” Fact.MR analyst.
The IoT Market by the numbers
- The global IoT sensors market to secure US$173.7 Billion by 2032
- The IoT sensors industry to exhibit a CAGR of 20.3% from 2022-to 2032
- The accelerometers segment is to experience a 20.7% growth rate during the forecast period
- The consumer electronics segment is to exhibit a CAGR of 21.4% from 2022-to 2032
- Market in India to expand at 30.3% CAGR from 2022-2032
- The growth rate of China is projected at 22.2% from 2022-to 2032
But the need for IoT Cybersecurity is more advent than ever
Everyone’s reliance on technology nowadays, from teamwork, communication, and data collection to e-commerce and entertainment, makes IoT cybersecurity so important. Every organization that needs to provide services to its clients and workers must safeguard its IT “network”—all the associated software and hardware, from desktops and laptops to servers and cellphones.
Networks today are frequently just made up of the devices themselves and how they’re connected: over the internet, occasionally via VPNs, to the homes and coffee shops where people work, to the cloud and data centers where services live. Traditionally, these would all live on one “corporate network.” What dangers do these contemporary networks face?
Developers of apps and software frequently publish updates with patches to address flaws found in their code. It might take a lot of time and effort to install patches across the full network of devices in an organization, but doing so is crucial. Your network is vulnerable if you don’t upgrade your software, firmware, and operating systems as soon as new versions are available. In order to maintain the highest level of security, a vulnerability scanner will provide you with a real-time inventory of all the software that requires upgrading and will help you find configuration errors that weaken your protection.
An application or system error, flaw, or fault that results in an unanticipated or wrong outcome is known as a software bug. Every piece of code contains bugs for a variety of reasons, such as poor testing, sloppy code, a lack of communication, or insufficient specs papers.
Not every flaw poses a risk to a network IoT cybersecurity, but it can be exploited by a hacker to gain remote access to the system and execute code. However, some errors, such as SQL injection, can be extremely dangerous and provide hackers access to your website or data. SQL injections can allow remote access and control of impacted systems in addition to exposing sensitive data.
The first and most crucial stage is to identify your weaknesses and weak points. Early vulnerability detection allows you to fix problems before an attacker may take advantage of them. A vulnerability scanner is a cloud-based service that finds IoT Cybersecurity flaws in software, networks, and computer systems. In order to address network risks and vulnerabilities before attackers exploit them, vulnerability scanners offer a continuous service that looks for them. These vulnerabilities might include everything from weak passwords to configuration errors or unpatched software.