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IoT Cybersecurity Market to Reach $60 Billion Globally by 2029

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A new study from Juniper Research has found that global IoT cybersecurity market revenue will double over the next five years; rising from $27 billion in 2024. This growth of over 120% in cybersecurity spending will be necessitated by the rapid growth in enterprise IoT device adoption. This growth in IoT devices represents a significant opportunity for cyber-attacks if not secured properly; potentially resulting in large monetary losses for enterprises.

To protect against potential losses, the study predicts enterprise users will increasingly need to adopt advanced network security solutions, including Next Generation Firewalls (NGFWs). NGFWs protect against rapidly evolving tactics that leverage AI to bypass traditional defences. The report identified the network layer as the most critical element of IoT networks to protect, with over 45% of global cybersecurity spending attributable to protecting the network layer in 2025.

However, to ensure comprehensive network protection, enterprises must adopt solutions that protect all layers, including the network, Cloud and endpoints. The report identified Extended Detection and Response (XDR) as a key solution that can unify security protocols across the entirety of the network. In turn, this simplifies security workloads by centralising IoT security management and automation.

Research author Michelle Joynson stated, “We expect 91% growth in the number of global IoT connections in service over the next five years. To protect these connections, cybersecurity platforms must provide unified threat detection and security management solutions that combat emerging threats, mitigate endpoint vulnerabilities and reduce network complexity.”

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AI to Power Over Half of Cyberattack Techniques Soon, Says Positive Technologies

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Positive Technologies has released an in-depth report examining the potential use of artificial intelligence in cyberattacks. According to the report, AI could eventually be used by attackers across all tactics outlined in the MITRE ATT&CK matrix and in 59% of its techniques. Researchers note that previously, AI was used by cybercriminals in only 5% of all the MITRE ATT&CK techniques, while in another 17%, its use was proven feasible. However, with the rapid proliferation of legal AI tools, these numbers are expected to surge. Experts highlight that within a year of ChatGPT-4’s release, the number of phishing attacks increased by 1,265%, and they predict AI will continue to enhance the capabilities of cybercriminals.

Analysts believe that, amidst the rapid development of such technologies, developers of language models don’t do enough to protect LLMs from being misused by hackers generating malicious texts, code, or instructions. This oversight could contribute to a surge in cybercrime. For example, hackers are already using AI to write scripts and verify code when developing malicious software. Moreover, LLMs enable novice cybercriminals, who lack advanced skills or resources, to accelerate the preparation and simplify the execution of attacks. This, in turn, contributes to the rise in AI-driven incidents. For instance, a cybercriminal can use AI to double-check for overlooked details in their attack plan or to explore alternative methods for executing specific steps.

Experts point to other factors driving the increased use of AI in cyberattacks. Among them is the weak cybersecurity infrastructure in developing countries, where even imperfect tools can be used effectively with the support of AI. Additionally, the ongoing arms race between attackers and defenders is pushing cybercriminals to use AI.

Roman Reznikov, Information Security Research Analyst at Positive Technologies, commented, “The advanced capabilities of AI in cyberattacks are no reason to panic. Instead, we must remain realistic, study emerging technologies, and focus on building result-driven cybersecurity strategies. The most logical way to counter AI-driven attacks is by leveraging even more efficient AI-powered defence tools, which can address the shortage of specialists by automating many processes. In response to the growing activity of cybercriminals, we developed the MaxPatrol O2 autopilot, designed to automatically detect and block attacker actions within the infrastructure before they can inflict irreparable damage on an organization.”

Experts note that cybercriminals are already using AI to automatically generate malicious code snippets, phishing messages, and deepfakes, as well as to automate various stages of cyberattacks, including botnet administration. However, only experienced hackers currently have the skills to develop and create new AI-driven tools to automate and scale cyberattacks. Analysts predict that specialized modules will emerge in the near future to address specific tasks in well-known attack scenarios. Over time, these AI-driven tools and modules will likely merge into clusters, thereby automating attack stages and eventually covering most of them. If cybercriminals succeed in fully automating attacks on a specific target, the next logical step could be enabling AI to autonomously search for new targets.

To ensure personal and corporate cybersecurity, Positive Technologies recommends following general security rules, prioritizing vulnerability management, and participating in bug bounty programs. Experts warn that the use of machine learning to automate vulnerability exploitation will enable cybercriminals to target organizations more quickly and frequently. Promptly addressing any detected flaws is crucial, particularly when publicly available exploits exist.

To stay ahead of cybercriminals, vendors are increasingly integrating machine learning technologies into their products. For instance, MaxPatrol SIEM uses its Behavioral Anomaly Detection (BAD) component to assign risk scores to cybersecurity events and detect targeted cyberattacks, including those exploiting zero-day vulnerabilities. Similarly, the PT Application Firewall uses AI for the precise detection of shell upload attacks. MaxPatrol VM leverages AI for intelligent asset information searches and the creation of popular queries. PT NAD employs AI to generate custom profiling rules and detect applications within encrypted traffic. Finally, PT Sandbox uses AI for the advanced detection of unknown and anomalous malware.

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Cyber Security

Rising Cyber Threats Target UAE’s Financial Sector and Critical Infrastructure in 2025

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The UAE has seen a sharp rise in cyber threats in 2024, particularly ransomware attacks, with 34 reported incidents between January and November, up from 27 in all of 2023, according to Acronis Threat Research Unit data. This increase reflects the nation’s prominence globally, making it a prime target for cybercriminals aiming to exploit vulnerabilities in finance, telecommunications, government, and critical infrastructure sectors. Additionally, as per the same report, Malware detections have also surged by 65.3%, jumping from 16.05% in 2023 to 26.52% in 2024.

Cybercriminals are increasingly using advanced malware and encryption techniques to attack financial institutions, targeting banks and financial services, and seeking to extort companies or sell stolen data on the dark web. With the cost of data breaches in the Middle East averaging $8.7 million, financial organizations in the UAE are under growing pressure to fortify their cybersecurity measures to protect sensitive data and avoid significant financial and reputational damage.

UAE’s critical infrastructure sectors, including energy, oil, and gas, are also facing heightened risks. Experts predict that cyberattacks on industrial control systems (ICS) and operational technology (OT) could severely disrupt production and lead to major financial losses. “The growing use of smart city technologies and the expansion of IoT in the UAE are increasing the digital attack surface,” said Ziad Nasr, General Manager of Acronis Middle East. “As more devices and systems become interconnected, cybercriminals have greater opportunities to exploit vulnerabilities, potentially essential services.”

The UAE’s strategic geopolitical position further elevates its vulnerability to cyber threats, particularly from nation-state actors. Advanced Persistent Threats (APTs), often targeting government and defence sectors, are expected to intensify in 2025. These groups deploy advanced tactics, such as spear-phishing, to breach critical systems. Furthermore, the UAE’s strategic geopolitical position makes it a prime target for nation-state actors deploying Advanced Persistent Threats (APTs). These groups often target government and defence sectors, using sophisticated tactics such as spear-phishing to infiltrate critical systems.

In comparison to its regional peers, the UAE leads the Middle East in reported cyber incidents. For example, Saudi Arabia recorded 11 ransomware attacks in 2024, Lebanon saw an increase from 2 to 7, Oman from 3 to 4, and Jordan experienced a decline from 3 to 1. This positions the UAE as the most affected in the region, facing a higher volume and more complex cyber threats than its neighbours.

Phishing attacks are expected to evolve in 2025, with the integration of AI and deepfake technology enabling attackers to convincingly impersonate executives. This will create significant risks through Business Email Compromise (BEC) schemes and other social engineering tactics. To combat these rising threats, Acronis urges organizations to adopt advanced cybersecurity solutions and strengthen their defences. This will be crucial for safeguarding the nation’s economic stability and boosting its resilience against the growing tide of cyber risks.

While the UAE may not rank among the top nations globally for cyberattack volume, its position as a regional target is clear. The sophistication and increasing frequency of attacks, augmented by AI, challenge the nation’s cybersecurity infrastructure. As the UAE moves toward becoming an ‘AI nation’, it faces both new opportunities and risks, making it essential to adopt comprehensive cybersecurity strategies and foster greater cooperation across sectors to mitigate evolving threats.

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Cyber Security

Retailers Bolster Email Security in the Middle East

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As the holiday and shopping season approaches, leading cybersecurity and compliance company Proofpoint has released research that shows that the top Middle East retailers are steadily improving their email security measures, better-protecting customers from the potential risk of email fraud. These findings are based on a Domain-based Message Authentication, Reporting, and Conformance (DMARC) adoption analysis of the top retailers in the Middle East. DMARC is an email authentication protocol designed to protect domain names from misuse by cybercriminals. It authenticates the sender’s identity before allowing a message to reach its destination. DMARC offers three levels of protection: monitoring, quarantine, and rejection, with rejection being the safest way to prevent suspicious messages from reaching the inbox.

The analysis reveals that a vast majority of Middle East retailers (90%) have published a DMARC record, and 8 out of the top 20 (40%) have the strictest and recommended DMARC policy (‘reject’) in place. This is a slight improvement from last year – where findings suggested that only 30% had implemented the DMARC policy at the ‘reject’ level and were proactively blocking fraudulent emails from reaching consumers. According to a study by IMARC, the Middle East retail market size is projected to grow by 4.21% from 2024-2032, driven by a surge in population and evolving consumer preference for online shopping. Through the high traffic of retail activity, attackers are now using new tactics to exploit their human targets.

Emile Abou Saleh, Regional Director, Middle East & Africa at Proofpoint, said, “Middle East retailers realize the risks millions of consumers face daily when they shop online. Our research shows that phishing, ransomware, and business email compromise remain among the top attack vectors plaguing organizations across all industries. Amid a surge in e-commerce in the region, deploying authentication protocols, such as DMARC, will be critical to support the growth and security posture of the retail sector.”

Email remains the number one threat vector, and phishing emails can lead to unsafe websites that gather personal data, such as credentials and credit card data. Therefore, it is always best to go directly to the source of the advertised deal by typing a known website address directly into a browser. For special offer codes, Proofpoint recommends entering them at the checkout to see if they are legitimate. It also recommends using a password manager to make the online experience seamless, whilst staying safe and using a multi-factor authentication for an added layer of security.

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