Home News IoT Devices Market is Estimated to Increase between 2020 to 2025

IoT Devices Market is Estimated to Increase between 2020 to 2025

IoT attacks

The number and purpose of connected devices is rapidly increasing as IoT evolves beyond the state of limited applications, a latest research revealed. According to the research report named, “The Connected Device Market for Consumer, Enterprise, and Industrial IoT Devices by Use Case, Device Type, Application, Region, and Country 2020 – 2025″, IoT applications will become increasingly interconnected in the next five years (from 2020 to 2025).

This report assesses the connected device market segment–including consumer, enterprise, and industrial devices–with associated connected device market sizing from 2020 to 2025. It also assessed applications and solutions in each market segment including agriculture, advertising and media, automobiles, security management, energy management, healthcare, manufacturing, oil & gas, public safety, and telecommunications.

According to the research findings, the global market for IoT devices in the energy sector (temperature controllers, smart lighting, smart windows, smart home, etc.) will reach to around US$6 billion by 2024. The global market size of government security and monitoring equipment (CCTV, Cameras, etc.) and connected health monitoring devices will reach US$5.1 billion by 2025.The smart hospital equipment (monitoring and diagnostic equipment, surgical tools, pathology and laboratory equipment, etc.) will reach US$1.4 billion by 2024, while consumer appliances (TV, refrigerators, washing machines, dish washers, microwaves, cooking appliances, coffee machine, etc.) will reach $1.7B by 2025.

As enterprises embraced mobility and always-on connectivity for employees, the lines have blurred between company-owned and privately-owned devices, and between the workplace and the home. Security experts opined that the sudden increase in connected devices emerged as a security threat to enterprises’ security posture.

A similar survey from security firm, Extreme Networks, revealed that organizations remain highly vulnerable to IoT-based attacks. The research, which surveyed 540 security professionals across organizations in North America, Europe, and the Asia Pacific, found that 84% of organizations have IoT devices on their corporate networks. It also stated that more than 50% of the organizations don’t maintain necessary security measures beyond default passwords.