The United Kingdom IoT security market reached around USD 403.90 Million in 2025. The market is projected to grow at a CAGR of 24.70% between 2026 and 2035 to reach nearly USD 3672.30 Million by 2035.
Base Year
Historical Period
Forecast Period
The United Kingdom ranked as the second most targeted nation globally for cyberattacks, following the United States.
The United Kingdom stands as a global leader in various financial sectors, including banking, insurance, and asset management and the sector contributes nearly 12% to the nation's GDP.
In 2020, financial fraud resulted in a loss of £479 million for consumers in the United Kingdom, as reported by UK Finance.
Compound Annual Growth Rate
24.7%
Value in USD Million
2026-2035
*this image is indicative*
| United Kingdom IoT Security Market Report Summary | Description | Value |
| Base Year | USD Million | 2025 |
| Historical Period | USD Million | 2019-2025 |
| Forecast Period | USD Million | 2026-2035 |
| Market Size 2025 | USD Million | 403.90 |
| Market Size 2035 | USD Million | 3672.30 |
| CAGR 2019-2025 | Percentage | XX% |
| CAGR 2026-2035 | Percentage | 24.70% |
| CAGR 2026-2035 - Market by Region | Wales | 24.3% |
| CAGR 2026-2035 - Market by Region | Scotland | 25.8% |
| CAGR 2026-2035 - Market by Deployment Mode | Cloud | 26.8% |
| CAGR 2026-2035 - Market by Organization Size | Small and Medium Enterprise (SMEs) | 25.3% |
| 2025 Market Share by Region | Wales | 3.9% |
In 2022, financial and related professional services made a significant contribution to the gross value added in the United Kingdom. In 2021, 65% of the population was engaged in online banking, while 57% utilised mobile banking services. Furthermore, data from the Association of British Insurers indicates that the UK insurance sector disbursed £98.2 billion in long-term insurance benefits in 2020, encompassing pensions, retirement income, protection, and long-term care.
IoT security in the banking, financial services, and insurance sectors is crucial, as it is essential for protecting financial data, preventing fraud, ensuring compliance with regulatory requirements, and safeguarding interconnected devices against cyber threats. As the BFSI sector increasingly embraces IoT technologies to improve service delivery and operational efficiency, the implementation of robust IoT security measures is crucial for preserving trust and integrity within the financial ecosystem.
The significance of IoT security has escalated concerning cybercrime, as the increasing number of connected devices introduces new vulnerabilities and potential attack vectors for malicious actors. In the United Kingdom, over 560,000 new cyber threats are identified each day. Furthermore, the 2024 UK Government Cyber Security Breaches Survey indicated that 50% of UK businesses had encountered a cyberattack or security breach within the past year. IoT security is essential in mitigating the escalating threat of cybercrime by safeguarding connected devices, networks, and the data they process.
Increasing adoption of IoT devices, stringent government regulations, rising threat of cyberattacks, and advancements in artificial intelligence and machine learning are the major trends impacting the United Kingdom IoT security market growth.
The initiatives undertaken by the UK government to enhance cybersecurity, including the IoT Code of Practice and the Product Security and Telecommunications Infrastructure (PSTI) Bill, are encouraging businesses to allocate resources towards IoT security solutions to comply with regulatory standards.
The rise in the number of IoT devices has resulted in a surge of targeted cyberattacks, such as botnet attacks, ransomware incidents, and unauthorised access to IoT networks, thereby prompting the implementation of enhanced security measures.
The deployment of artificial intelligence and machine learning in IoT security solutions is enhancing the efficiency of threat detection, facilitating real-time monitoring, and enabling automated responses, thereby rendering security systems more resilient and capable of adapting to emerging threats.
With the growing awareness among UK consumers regarding the potential risks linked to unsecured IoT devices within smart homes, there is a rising demand for user-friendly IoT security solutions aimed at safeguarding personal data and privacy.
The extensive adoption of Internet of things (IoT) devices in various sectors, including healthcare, manufacturing, smart homes, and retail, is increasing the need for strong security measures to safeguard against cyber threats.
The extensive adoption of IoT devices across a multitude of sectors, such as healthcare, manufacturing, smart homes, and retail, is significantly transforming the landscape of technology and connectivity. As these devices become more integrated into everyday operations and personal lives, they generate vast amounts of data and facilitate real-time communication between systems. This interconnectedness, while offering numerous benefits such as improved efficiency, enhanced user experiences, and streamlined processes, also brings with it a heightened vulnerability to cyber threats.
As these technologies continue to evolve and proliferate, organisations must adopt a proactive approach to cybersecurity, investing in advanced security solutions, conducting regular risk assessments, and fostering a culture of security awareness among users.
United Kingdom IoT Security Market Report and Forecast 2026-2035 offers a detailed analysis of the market based on the following segments:
Market Breakup by Component
Market Breakup by Deployment Mode
Market Breakup by Organisation Size
Market Breakup by Security
Market Breakup by Industry Vertical
Market Breakup by Region
| CAGR 2026-2035 - Market by | Region |
| Wales | 24.3% |
| England | XX% |
| Northern-Ireland | XX% |
| Scotland | 25.8% |
Based on the deployment mode, the market is segmented into on-premises and cloud. The cloud segment is projected to grow at a CAGR of 26.8% during the forecast period of 2026-2035. Security for cloud IoT encompasses the protection of Internet of things (IoT) devices and their associated data within cloud environments. As IoT devices become increasingly integrated with cloud computing, it is essential to implement strong security protocols to defend against a range of potential threats and vulnerabilities.
Major players are focusing on the adoption of artificial intelligence and machine learning to gain a competitive edge in the market.
The comprehensive report looks into the macro and micro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2025, the market attained a value of nearly USD 403.90 Million.
The market is assessed to grow at a CAGR of 24.70% between 2026 and 2035.
The market is estimated to reach around USD 3672.30 Million by 2035.
The market is being driven by the increasing adoption of IoT devices and the introduction of stringent government regulations to enhance cybersecurity.
The key trends aiding the market expansion include the rising threat of cyberattacks and the growing adoption of artificial intelligence and machine learning to promote IoT security.
The major industry verticals in the market are BFSI, government, healthcare and life sciences, energy and power, and manufacturing, among others.
The major countries considered in the market are England, Wales, Northern-Ireland, and Scotland.
The major players in the market are IBM Corporation, Cisco Systems Inc., Broadcom Inc., Intel Corp., HP Inc., Fortinet Inc., AT&T Inc., Infineon Technologies AG, Palo Alto Networks Inc., Thales S.A. (Gemalto), Sophos Ltd., and Trustwave Holdings, Inc., among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment
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| Breakup by Offering |
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| Breakup by Deployment Mode |
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| Breakup by Organisation Size |
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| Breakup by Security |
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| Breakup by Industry Vertical |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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