{"id":75435,"date":"2022-02-22T10:10:14","date_gmt":"2022-02-22T08:10:14","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=75435"},"modified":"2022-02-21T19:50:14","modified_gmt":"2022-02-21T17:50:14","slug":"iot-global-market-expected-to-rise-from-45-bn-to-154-bn-by-2028","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/iot-global-market-expected-to-rise-from-45-bn-to-154-bn-by-2028\/","title":{"rendered":"IoT global market expected to rise from $45 bn to $154 bn by 2028"},"content":{"rendered":"
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The consumer internet of things (IoT) global market size is forecast to grow from $45 billion today to\u00a0$154 billion by 2028<\/a>. Whereas early adoption of smart wearables, home electronics and appliances was concentrated in North America and Western Europe, China is\u00a0projected<\/a>\u00a0to overtake the United States as the largest market by the end of 2024.<\/p>\n<\/div>\n

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As the use of connected devices increases worldwide, so does the potential for cyber threats \u2013 particularly as new products introduce vulnerabilities, potentially exposing people to hacking or leaks of personal data.<\/p>\n<\/div>\n

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To address this challenge, the World Economic Forum\u2019s\u00a0Council on the Connected World<\/a>\u00a0mobilized a multistakeholder coalition of business leaders, government officials and technology experts to build a consensus on baseline security protections. Reflecting the interests of industry, consumers, white hat hackers and governments, the stakeholders agreed on\u00a0five security requirements<\/a>\u00a0for consumer-facing IoT devices \u2013 the first international consensus of this type.<\/p>\n<\/div>\n

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\u201cAs we look to new technologies to help address pressing global challenges \u2013 from climate change to rapid urbanization \u2013 we must ensure this progress does not come at a cost to individual safety and privacy,\u201d said\u00a0Jeff Merritt, Head of Urban Transformation, World Economic Forum. \u201cToday\u2019s announcement is an important step towards a more secure digital future and is testament to the critical role of multistakeholder collaboration in promoting the responsible development and use of technology.\u201d<\/p>\n<\/div>\n

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Cybersecurity Tech Accord, Consumers International, and I Am the Cavalry, representing more than 400 member organizations globally, developed a statement based on research and dialogue, which has already been endorsed by more than 100 organizations and major tech companies, including Microsoft and NTT. This\u00a0Statement of Support<\/a>\u00a0calls on device manufacturers and vendors to take immediate action.<\/p>\n<\/div>\n

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\u201cMicrosoft is excited to support this effort to raise awareness and advance best practices throughout the industry, as well as to encourage cooperation across stakeholder groups to advance the security of consumer products including the services and platforms they are built on,” said\u00a0Rob Spiger, Principal Security Strategist, Digital Diplomacy, Microsoft.<\/p>\n<\/div>\n

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\u201cConnected devices are in consumers\u2019 homes in increasing numbers, but many are poorly secured and lack basic protections,\u201d said\u00a0Helena Leurent, Director-General, Consumers International. \u201cConsumers face serious risks and may not even be aware. It is encouraging to see support for a much overdue change. Consumer advocates everywhere look forward to seeing active adoption and enforcement of strong standards.\u201d<\/p>\n<\/div>\n

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\u201cBy endorsing these five key responsibilities, the organizations that have signed on are sending a clear message about minimum acceptable standards,\u201d said\u00a0Marc Rogers, Vice-President, Cybersecurity, Okta, and white hat hacker. \u201cMost importantly it is setting a baseline that I hope will unify the industry approach leading to better security for all consumers worldwide.\u201d<\/p>\n<\/div>\n

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\u201cBuilding a secure and trusted Connected World is important to all of us,\u201d said\u00a0Shahid Ahmed, Group Executive Vice-President, New Ventures and Innovation, NTT Ltd. \u201cNTT is excited to participate in this global collaboration between industry, consumer groups and governments to accelerate better security measures for IoT, using these five provisions as a starting point.\u201d<\/p>\n<\/div>\n

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\u201cThe Cybersecurity Tech Accord is proud to be joining consumer advocates and security activists in an initiative that will help secure the next generation of connected consumer products,\u201d said\u00a0Annalaura Gallo, Head of Secretariat, Cybersecurity Tech Accord. \u201cConnected devices can bring incredible benefits to consumers but they also come with new cyber risks. Today, we endorse five key security baseline requirements for these devices, hoping they will be promoted and adopted more broadly by governments and businesses worldwide.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The consumer internet of things (IoT) global market size is forecast to grow from $45 billion today to\u00a0$154 billion by 2028. Whereas early adoption of smart wearables, home electronics and appliances was concentrated in North America and Western Europe, China is\u00a0projected\u00a0to overtake the United States as the largest market by the end of 2024. As […]<\/p>\n","protected":false},"author":410,"featured_media":75436,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[984,6030],"tags":[],"yoast_head":"\nIoT global market expected to rise from $45 bn to $154 bn by 2028 - Csr Egypt<\/title>\n<meta name=\"description\" content=\"The consume IoT global market size is forecast to grow from $45 billion today to\u00a0$154 billion by 2028. 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