The US Federal Communications Commission (FCC) will trial a national Cyber Trust Mark for wireless IoT products. 

While the FCC has not yet announced a start date for the scheme, companies creating connected devices will be required to meet new cybersecurity standards and display a sticker on their products informing consumers that these standards have been met. 

Smart speakers, doorbell cameras and health trackers are all among the devices that would be affected by the proposed scheme. 

In its original statement proposing the scheme, the FCC suggested that the sticker includes a QR code that could directly link consumers to the security details of a smart device. 

According to FCC figures, over 25 billion IoT devices will be operational by 2030 around the world. 

In its 2023 thematic intelligence report into IoT devices, research and analysis company GlobalData reported that the total IoT market could reach upwards of $1.7trn by 2027. 

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Business IoT products will continue to make up the majority of the IoT market, accounting for over 73% of the market revenue by 2027. This is up from 70% in 2022. 

GlobalData forecasts a slight decrease in the number of consumer IoT devices sold by 2027, estimating that its consumer segment will account for just 27% of the market in 2027. In comparison, consumer IoT devices made up 30% of the market’s total revenue in 2022.