According to a report by Juniper Research, the total operator revenue from cellular internet of things (IoT) is expected to increase from $12.4 billion in 2024 to $23 billion in 2028.
The report noted that despite this $10 billion growth, quantum attacks on cellular IoT represent a significant security vulnerability for enterprises. To resolve this, cellular IoT vendors must develop quantum-resistant cryptography services to futureproof their protection.
The report analysed the comprehensiveness of offerings across 18 key cellular IoT operators and vendors, as well as their innovation and future prospects. As per the report, the top three vendors are Microsoft, Huawei, Vodafone Business.
It stated that Microsoft’s edge services for enterprise IoT are as critical to its market leadership. These services enable enterprises to deploy cloud-native workloads such as AI directly on IoT devices; ensuring low latency and reliability during offline periods. These edge capabilities are critical to supporting and monetising mission-critical IoT devices, which act and communicate in real-time.
It further added as quantum computing attacks will render current security for cellular IoT obsolete, investment into quantum-resistant cryptography is vital. This vulnerability will prevent enterprises from deploying cellular IoT devices within mission-critical operations; limiting monetisation in key market verticals such as healthcare.
Commenting on the report, Alex Webb, research author, said, “Quantum-resistant cryptography will enable cellular IoT vendors to mitigate the threat of quantum computer attacks, without significantly increasing enterprise security expenditure. This will ensure a swift transition to secure cellular IoT environments.”
