Experts estimate that more than 25 billion smart devices will be in use by 2030.
With their growth comes an increasing security threat. The need to improve IoT security is seen around the world. In the EU, the RED Security Directive requires manufacturers to provide fraud protection. Any device connected to the IoT must comply with these regulations by August 1, 2024.
Singapore has developed a cybersecurity labeling scheme to improve the security of IoT devices and encourage manufacturers to focus on product security.
Governments around the world are launching cybersecurity initiatives to protect IoT users.
The US White House has also recognized the importance of security for future IoT. The timeline for cybersecurity regulations should take effect within the next 1-2 years.