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IoT connections to more than double in the next 4 years

02 April 2020

The total number of internet of things (IoT) connections is expected to grow 130% in the next four years driven by the increasing use of private networks that leverage cellular network standards, according to new analysis from Juniper Research.

Juniper Research forecasts IoT connections will reach 83 billion by 2024, up from 35 billion connections in 2020. Of this, the industrial sector — which includes manufacturing, retail and agriculture — will account for more than 70% of all IoT connections by 2024. However, private cellular networks will emerge as a key driver as recent increased demand for private LTE networks will carry forward to private 5G networks as the cost of the technology decreases over the next two years.

“Industrial networks will need to scale rapidly as industrial IoT users adopt new technologies to expand the services available on their networks,” said Sam Barker, researcher at Juniper Research. “However, IoT platforms must ensure that the security processes can scale alongside this network growth.”

With the rise in complex private IoT networks, the need for more security in all layers of the IoT ecosystem will be necessary including devices, connectivity and the platform itself. Juniper suggests that IoT developers implement security procedures that are highly scalable and can cope as networks become more complex.

Two areas to focus on would be the use of network segmentation to mitigate the risks of lateral movement cybersecurity attacks and ensuring that the lifecycle management of network assets is maintained.

Learn more about Juniper Research’s findings with its IoT — The Internet of Transformation 2020 report.

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