IoT Security Statistics


Steve Goldstein
Steve Goldstein
Business Formation Expert
Steve Goldstein runs LLCBuddy, helping entrepreneurs set up their LLCs easily. He offers clear guides, articles, and FAQs to simplify the process. His team keeps everything accurate and current, focusing on state rules, registered agents, and compliance. Steve’s passion for helping businesses grow makes LLCBuddy a go-to resource for starting and managing an LLC.

All Posts by Steve Goldstein →
Business Formation Expert  |   Fact Checked by Editorial Staff
Last updated: 
LLCBuddy™ offers informative content for educational purposes only, not as a substitute for professional legal or tax advice. We may earn commissions if you use the services we recommend on this site.
At LLCBuddy, we don't just offer information; we provide a curated experience backed by extensive research and expertise. Led by Steve Goldstein, a seasoned expert in the LLC formation sector, our platform is built on years of hands-on experience and a deep understanding of the nuances involved in establishing and running an LLC. We've navigated the intricacies of the industry, sifted through the complexities, and packaged our knowledge into a comprehensive, user-friendly guide. Our commitment is to empower you with reliable, up-to-date, and actionable insights, ensuring you make informed decisions. With LLCBuddy, you're not just getting a tutorial; you're gaining a trustworthy partner for your entrepreneurial journey.

IoT Security Statistics 2023: Facts about IoT Security outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on IoT Security, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

How much of an impact will IoT Security Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

Please read the page carefully and don’t miss any words.

Top IoT Security Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 58 Iot Security Statistics on this page 🙂

Iot Security “Latest” Statistics

  • By 2025, it is anticipated that more than 400 million homes will have smart home systems and appliances.[1]
  • According to projections, the IoT healthcare industry would increase at a compound yearly growth rate of 19.8% from $60.83 billion in 2019 to $260.75 billion by 2027.[1]
  • According to Fortune Business Insights, the IoT industry is expected to reach $1,854.76 billion by 2028, growing at a cagr of 25.4% from 2021 to 2028.[1]
  • According to a survey by Reports and Data, the worldwide IoT market for agriculture is anticipated to reach $30.8 billion in 2028, with a CAGR of 10.6% over the projected period.[1]
  • According to Grand View Research, the global market for IoT in healthcare is expected to reach $534.3 billion by 2025.[1]
  • 43% of shops are concentrating on avoiding data breach occurrences, while 57% of businesses have already taken efforts to strengthen privacy protections.[2]
  • In only five minutes after being online, the typical IoT device experiences an assault, according to IoT-based attacks data for 2019.[2]
  • By 2025, there will be more than 80 billion linked devices, predicts Vernon Turner, vice president of IDC.[2]
  • According to current IoT device data, there will be over 3.5 billion of them by 2023, with Asia leading the way.[2]
  • Recent figures on IoT healthcare devices indicate that throughout 2021, the industry’s CAGR for IoT is expected to be 28.6%.[2]
  • With a CAGR of 21.38%, yearly worldwide expenditure on security measures for IoT networks is anticipated to increase from 91 million in 2016 to 631 million in 2021.[2]
  • Frontier Economic’s IoT forecast predicts that over the next 30 years, IoT technology will enhance the United States GDP by 10%.[2]
  • Even if statistics indicate that the worldwide market value of IoT technology is declining, the hardware still makes up 30% of the overall value of the technology.[2]
  • Figures on IoT growth reveal that the CAGR decreased to 8.2% in 2020, which is a nearly twice as low rise as the predicted 14.9% by the end of 2019.[2]
  • According to IoT brand data, 34% of companies want to see IoT solutions adopted across the board, which would boost industry development over the next ten years.[2]
  • In 2030, it’s predicted that there will be more than 254 billion active IoT devices.[2]
  • Organizations in the financial services industry are leading the way in the adoption of IoT, with up to 58% of them currently using it to some extent.[3]
  • Zero Trust is crucial, according to 99% of respondents to a study of 1,000 IT security professionals, with 75% describing it as very or very important.[4]
  • A Mobile Threat Defense solution is used by 12% of respondents who provide corporate access via mobile devices to safeguard their users and business assets.[4]
  • In the first half of 2021, 121 ransomware instances were recorded, rising 64% over the previous year.[4]
  • Only 16% of small organizations claim to have examined their cyber security posture before being attacked.[4]
  • 18% of respondents acknowledged that cyber security was not a top concern for their personnel, and 5% said that their staff members posed a security risk and were unaware of security best practices.[4]
  • Only 9% of firms use techniques to guard against internet-based risks, and 20% of them don’t utilize any to protect distant users who are accessing the internet.[4]
  • According to a 2019 research, security breaches have surged by 67% over the previous five years.[4]
  • Every day, 230,000 new malware samples are created, and this number is expected to keep increasing.[4]
  • Banks and other financial companies were the targets of 25% of all malware attacks compared to all other industries.[4]
  • 26% of endpoints lack a solution that can quickly identify and terminate ransomware assaults.[4]
  • In 2021, 28% of European businesses experienced a supply chain assault, which is unchanged from 2020 but had a greater financial effect.[4]
  • When choosing a cloud provider, security is seen by 28% of businesses as being the most crucial factor.[4]
  • 28% of respondents acknowledged using personal devices more often for work-related tasks than devices provided by their employers.[4]
  • 30% of businesses will use a secure web gateway offered via the cloud.[4]
  • Mobile devices were the target of 30% of the known zero day vulnerabilities identified in 2021.[4]
  • 31% don’t utilize any of the techniques described to stop confidential company information from leaving the company.[4]
  • 25% of businesses had issues with illegal users, while 32% of them had issues with improper individuals having privileged access.[4]
  • It took 34% of firms that were affected by malware a week or more to get access to their data again.[4]
  • In a research, 61% of participants were unable to distinguish between a real and a phony Amazon login screen.[4]
  • During the first half of 2021, IoT cyberattacks more than quadrupled year over year, according to antivirus and computer security service provider Kaspersky.[5]
  • More than 872 million IoT cyberattacks, or 58% of them, used telnet, as Kaspersky discovered.[5]
  • Security is utilized by 77% of IoT devices.[6]
  • Spending on IoT security measures is anticipated to reach $631 million in 2021 with a CAGR of 21.38%.[6]
  • According to Forbes, IoT devices reported 813 million malware attacks worldwide in 2018.[6]
  • The IoT industry was projected to be worth $742 billion in the U.S. in 2020.[6]
  • Despite the excitement around consumer-based IoT applications, a McKinsey Global Institute research found that B2B applications may provide approximately 70% of the potential value provided by IoT.[7]
  • 73% of CEOs are either exploring IoT deployment or are already doing so, demonstrating how businesses are focusing intensely on it as a tool for sustainability, safety, and economic success.[7]
  • According to Verizon’s state of the market report, the lack of industry-wide IoT standards, along with cost and security interoperability issues, are the causes of more than 50% of CEO worries about the IoT.[7]
  • Consumers owned 63% of the IoT devices in use in 2017, whereas corporations spent 57% of the money on IoT in 2016.[7]
  • According to McKinsey company, IoT may provide between $4 trillion and $11 trillion in economic value by 2025.[7]
  • In order to get visibility, 49% of IT teams were speculating or have fiddled with their current IT systems.[8]
  • The categories of smart objects that were operating in most company networks were unknown to 51% of them.[8]
  • According to a Checkpoint Research paper released at the end of 2020, the average daily rate of ransomware assaults grew by 50% in Q3 compared to H1 2020.[8]
  • Ransomware attacks on healthcare providers increased by 350% in Q4 2019 and 560 healthcare providers were affected by ransomware in 2020, according to Health IT and Security.[8]
  • 74% of consumers worldwide are concerned about losing their civil rights.[9]
  • According to Juniper Research, 83 billion IoT connections will likely exist by the year 2024.[9]
  • According to Gartner, 63% of businesses anticipate their internet of things initiatives to pay for themselves within three years.[9]
  • According to the 2020 SonicWall Cyber Threat Report, the hacking assaults persisted in 2019 but showed a mild growth of only 5% in IoT malware.[9]
  • IoT malware assaults increased 215.7% to 327 million in 2018 from 10.3 million in 2017, according to SonicWall.[9]
  • According to Fortune Business Insights, the market for IoT devices is expanding and will likely reach $14 trillion by 2027.[9]
  • Zion market research predicts that between 2019 and 2025, the worldwide market for IoT medical devices will grow at a CAGR of 15.27%.[9]

Also Read

How Useful is Iot Security

One of the biggest challenges with IoT security is the sheer number of devices involved. With estimates suggesting that there will be over 75 billion connected devices worldwide by 2025, the potential attack surface for cyber criminals is vast. Unlike traditional networks that can be secured by a firewall and antivirus software, IoT devices are often designed with limited processing power and memory, making them vulnerable to hacking and cyber attacks.

Furthermore, many IoT devices are not regularly updated with security patches, leaving them exposed to known vulnerabilities that can be exploited by hackers. This can have serious implications, especially when the devices are interconnected with critical infrastructure such as healthcare systems or smart cities. A security breach in such systems could potentially lead to dire consequences, endangering lives and compromising sensitive data.

In addition, the nature of IoT devices collecting vast amounts of personal data raises concerns about privacy. From monitoring our daily habits to tracking our location, these devices can gather a wealth of information that can be misused if it falls into the wrong hands. This raises serious questions about who has access to this data and how it is being protected from unauthorized access.

Despite these challenges, IoT security measures have been improving over time. Many manufacturers are now implementing encryption protocols and security features to protect their devices from cyber threats. Additionally, government and industry regulations are being put in place to ensure that data protection laws are followed and that security standards are upheld.

However, the complex nature of IoT security means that there will always be room for improvement. As technology continues to advance, so too must our security measures to keep up with evolving threats. It is essential for consumers to be vigilant when using IoT devices, ensuring that they follow best practices for securing their devices and regularly updating their software to prevent potential vulnerabilities.

In conclusion, while IoT security is a crucial aspect of our digital lives, there is still much work to be done to ensure that our interconnected world remains safe and secure. By staying informed about security risks and taking proactive measures to protect our devices, we can help mitigate the threats posed by cyber attacks and safeguard our data and privacy. It is up to all of us to work together to build a secure and resilient IoT ecosystem for the future.

Reference

  1. comptia – https://connect.comptia.org/blog/internet-of-things-stats-facts
  2. dataprot – https://dataprot.net/statistics/iot-statistics/
  3. intersog – https://intersog.com/blog/iot-security-statistics/
  4. purplesec – https://purplesec.us/resources/cyber-security-statistics/
  5. iotworldtoday – https://www.iotworldtoday.com/2021/09/17/iot-cyberattacks-escalate-in-2021-according-to-kaspersky/
  6. pareteum – https://www.pareteum.com/internet-of-things-iot-stats-2021/
  7. proofpoint – https://www.proofpoint.com/us/security-awareness/post/iot-statistics-whats-store-devices-b2b-apps-iot-security
  8. thalesgroup – https://www.thalesgroup.com/en/markets/digital-identity-and-security/iot/magazine/internet-threats
  9. thesslstore – https://www.thesslstore.com/blog/20-surprising-iot-statistics-you-dont-already-know/

Leave a Comment