Interaction between devices, people, and the Internet has given birth to a new digital communication model, the Internet of Things (IoT). The seamless network of these smart devices is the core of this IoT model. However, on the other hand, integrating smart devices to constitute a network introduces many security challenges. These connected devices have created a security blind spot, where cybercriminals can easily launch an attack to compromise the devices using malware proliferation techniques. Therefore, malware detection is considered a lifeline for the survival of IoT devices against cyberattacks. This study proposes a novel IoT Malware Detection Architecture (iMDA) using squeezing and boosting dilated convolutional neural network (CNN). The proposed architecture exploits the concepts of edge and smoothing, multi-path dilated convolutional operations, channel squeezing, and boosting in CNN. Edge and smoothing operations are employed with split-transform-merge (STM) blocks to extract local structure and minor contrast variation in the malware images. STM blocks performed multi-path dilated convolutional operations, which helped recognize the global structure of malware patterns. Additionally, channel squeezing and merging helped to get the prominent reduced and diverse feature maps, respectively. Channel squeezing and boosting are applied with the help of STM block at the initial, middle and final levels to capture the texture variation along with the depth for the sake of malware pattern hunting. The proposed architecture has shown substantial performance compared with the customized CNN models. The proposed iMDA has achieved Accuracy: 97.93%, F1-Score: 0.9394, Precision: 0.9864, MCC: 0. 8796, Recall: 0.8873, AUC-PR: 0.9689 and AUC-ROC: 0.9938.