Tag Archive for: IoT

Blockchain Iot Market Size, 2023 is Booming Worldwide Business Forecast by 2030

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PRESS RELEASE

Published July 6, 2023

Report Ocean recently released a comprehensive report on the global Blockchain Iot market, offering valuable insights into various factors impacting the market’s growth. The report covers crucial information on market restraints, drivers, and opportunities, enabling readers to understand the market dynamics. It also provides a detailed analysis of industry developments and trends that are shaping the global Blockchain Iot market. Furthermore, the report includes a thorough assessment of the market at both global and regional levels, providing comprehensive insights for businesses and stakeholders.

The global blockchain IoT market size was US$ 3.5 billion in 2021. The global blockchain IoT market is forecast to grow to US$ 271 billion by 2030, registering a compound annual growth rate (CAGR) of 45.2% during the forecast period from 2022 to 2030.

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Factors Influencing the Market

  • The increasing penetration of IoT technology is forecast to benefit the global blockchain IoT market. Growing initiatives to establish smart cities, smart transportation infrastructure, and vehicular connection forecast to play a beneficial role.
  • The increasing privacy concerns related to IoT devices, such as botnet attacks, Distributed Denial of Service (DDoS) assaults, and insecure ecosystem interfaces, are forecast to benefit the global blockchain IoT market during the forecast period. Blockchain offers an effective solution for IoT security. It enhances data security and protects data from unauthorized access. All of these factors will contribute to market growth.
  • The increasing focus of companies towards adopting effective solutions is forecast to benefit the global blockchain IoT market. Due to the COVID-19 pandemic, companies are increasingly inclining towards online operations. As a result, the demand for data security is forecast to increase from the government, BFSI, and private companies. However, a lack of knowledge about the technology may hamper the growth of the global blockchain IoT market.

Regional Analysis

The Asia-Pacific…

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Layered Security Introduction (Cyber Security Part 4)

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IoT Botnet DDoS Attacks Threaten Global Telecom Networks, Nokia

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In addition to the rise in botnet-driven DDoS attacks, the Threat Intelligence Report highlights a doubling in the number of trojans targeting personal banking information on mobile devices, now accounting for 9% of all infections.

A recent report from Nokia’s Threat Intelligence Center sheds light on the alarming rise of IoT botnet DDoS attacks targeting telecom networks worldwide. The study reveals a fivefold increase in such attacks over the past year, with cybercriminals exploiting insecure IoT devices and profit-driven hacking collectives.

This surge in malicious activity initially observed during the Russia-Ukraine conflict, has now spread to various regions globally, jeopardizing critical infrastructure and services beyond telecom networks.

The proliferation of IoT devices among consumers has contributed significantly to the escalation of botnet-driven DDoS attacks. The number of compromised IoT devices used in these attacks has soared from 200,000 to approximately 1 million, currently accounting for more than 40% of all DDoS traffic.

IoT Botnet Attacks Threaten Global Telecom Networks, Nokia Threat Intel Report
Geographical distribution of active botnet devices, by country (Source: Nokia Deepfield)

The report underscores that this rise in attacks stems from the growing number of profit-driven hacking collectives, taking advantage of the Ukraine crisis.

A prevalent form of malware in telecommunication networks is bot malware, which scans for vulnerable devices—a tactic associated with multiple IoT botnets. With lax security measures prevalent in billions of IoT devices worldwide, encompassing everything from smart refrigerators to medical sensors and smartwatches, cybercriminals have found ample targets to exploit.

In addition to the rise in botnet-driven DDoS attacks, the Threat Intelligence Report highlights a doubling in the number of trojans targeting personal banking information on mobile devices, now accounting for 9% of all infections. This puts millions of users worldwide at heightened risk of having their financial and credit card details compromised. Trojans are malicious software codes that disguise themselves as legitimate applications.

On a positive note, the report reveals a decline in malware…

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