IoT Security Market Updates

Global IoT Security Market size was valued at USD 21.3 Billion in 2023 poised to grow from USD 25.6 Billion in 2024 to USD 112.4 Billion by 2032, growing at a CAGR of 20.3% in the forecast period (2025-2032).

Key vendors in IoT Security Market are: 'Cisco Systems Inc.', 'Palo Alto Networks, Inc', 'Microsoft Corporation', 'Amazon.Com, Inc.', 'General Electric Co', 'Samsung Group', 'IBM Corp.', 'Intel Corporation', 'Dell Technologies Inc.', 'Thales SA', 'Broadcom Inc.', 'Qualcomm Technologies, Inc.', 'Siemens AG', 'Honeywell International Inc.', 'Hitachi Ltd.', 'Hewlett Packard Enterprise Co.', 'Oracle Corporation', 'AT&T Inc.', 'Infineon Technologies Ag', 'NXP Semiconductors NV'

The expansion of the IoT ecosystem is transforming the global IoT security market, led by the increased number of connected devices. The growing use of smart devices-from industrial sensors to smart homes-increases cyber threats. For instance, the development of smart home products, in which security features such as cameras and locks are in high demand, is gaining momentum. Consumers feel security is first, and with this comes a demand for working IoT solutions protecting their homes.

Rising Concerns Over Smart Home Security: As smart home devices become mainstream, consumers increasingly get worried about the security risks related to these connected gadgets. To address the rising concerns, demand for strong security solutions increased because of hacking, unauthorized access, and data breaches. Consumers fear that cyber criminals will use loopholes in smart locks, cameras, and thermostats to steal personal data. These issues are addressed by companies such as Amazon's Ring through end-to-end encryption, two-factor authentication, and real-time alerts.

North America is the leading region with USD 9.8 Billion in 2024 and is assumed to reach USD 39.8 Billion by 2032 with a CAGR of 19.2% because of its technological framework, high penetration rates of the IoT devices, and cybersecurity measures. Specifically, U.S. and Canada lead in IoT adoption across healthcare, manufacturing, and smart city projects, which makes them require efficient security tools. Several key IoT security solution vendors are based in North America and lead innovations in the market. Also, strong government initiative across strong data protection regulations and cybersecurity frameworks further enhances this region as a leader in the use of IoT security to ensure the proper protection of sensitive data and devices from an emerging threat.