Global Internet of Things (IoT) Security market was valued US$ 7.8 Billion in 2017 and is expected to reach US$ 42 Billion by 2026, at CAGR of 20.57 %during forecast period.
The objective of the report is to present comprehensive assessment projections with a suitable set of assumptions and methodology. The report helps in understanding Internet of Things (IoT) Security dynamics, structure by identifying and analyzing the market segments and projecting the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, growth strategies, and regional presence. To understand the market dynamics and by region, the report has covered the PEST analysis by region and key economies across the globe, which are supposed to have an impact on market in forecast period. PORTER’s analysis, and SVOR analysis of the market as well as detailed SWOT analysis of key players has been done to analyze their strategies. The report will to address all questions of shareholders to prioritize the efforts and investment in the near future to the emerging segment in the Global Internet of Things (IoT) Security Market.
Global Internet of Things (IoT) Security Market: Overview
IoT security is the technology in the field of internet of things (IoT) and this is concerned with the protection of connected devices and networks against cybercrime. Internet of Things (IoT) has proved to be to be a major requirement for the domains such as IT & telecom, BFSI, retail and healthcare. IoT security has risen mainly due to the security concerns to avoid risks, attacks & threats for an organization. To beat this security struggle, business organizations are highly investing for the improvement of solutions for IoT security.
Global Internet of Things (IoT) Security Market: Drivers and Restraints
An increasing number of random attacks such as malware or defective processes on IoT devices all over the globe, increasing security concerns on critical infrastructures and growing IoT security regulations, these are the Major factors driving the growth of the Internet of Things (IoT) Security market. In 2019, the different factors driving the market rate growth include data loss prevention (DLP), identity governance and administration (IGA) and identity and access management (IAM). Another thing of IOT security product driving market rate is Biometric security. Biometrics is mainly helping in protection and authentication method of smart phone as well as for technology giants. Unique individual identity sources like fingerprints, face, eyes, human palm and heartbeat make it an absolute solution for IoT security. Additionally Increasing number of essential data and appearance of Artificial Intelligence (AI) are making it necessary to record large number of data and analyze it further. IOT security market can play an important role in data encryption, physical storage. Moreover, IoT security takes care of different business needs such as regulatory compliance, authentication and subsequent and data encryption. IOT security is predicted to become necessity for the development of smart houses, smart buildings and smart cities. These are the huge projects and policy initiatives responsible for driving the market rate growth over the forecast period.
On the other hand uncertainties emerging from obscure legal framework worldwide and unavailability of a clear way of evolution of IOT devices are hamper the growth of (IoT) Security market in near future.
Global Internet of Things (IoT) Security Market: By Segment Analysis
Based on security segment, Network security is expected to hold the largest market share. Networking is the backbone of the IoT ecosystem and a rising number of network protocols are one major factor for growth of network security. Network security deals with wireless communication, gateway and remote access security. In the IoT ecosystem, a large amount of data is transfer Cloud security is expected to second lead in Global Internet of Things (IoT) Security Market owing to adoption of cloud technologies by number of organization for storing confidential data to avoid risk of unauthorized access to data
Global Internet of Things (IoT) Security Market
North America is expected to keep its highest position in global IOT security product market share owing to High penetration through digitalization, high advancement of IOT technologies and large base of technology organization, during the forecast period. Increasing awareness in the region because of cyber-threats, identity thefts as number of incidents on a high profile national level organization all over the world have already cropped up. European IOT security market is also predicted to carry its growth, owing to increasing survey by the EU. Asia-Pacific is predicted to remain the fastest growing regional market. Large smart public infrastructure development projects, booming IT industry, large young tech-savvy population will likely drive the market during the forecast period.
Asia-Pacific is expected to fastest growing IOT security market. Thanks to implementation IoT could have help to development of project like smart city, smart public infrastructure. Development and increasing growth in IT industry will drive the market of IoT Security over the forecast period.
The Scope of the Global Internet of Things (IoT) Security Market
Global Internet of Things (IoT) Security Market by Security Type
• Cloud security
• Network security
• Endpoint security
• Application security
• Wireless security
Global Internet of Things (IoT) Security Market by Solution Type
• Identity Access Management
• Intrusion Detection System
• Distributed Denial of Service Protection
• Security Analytics
Global Internet of Things (IoT) Security Market by Service Type
Global Internet of Things (IoT) Security Market by Applications
• Smart Manufacturing
• Smart Government and defense
• Smart Energy and Utilities
• Consumer Wearable’s
• Connected Healthcare
• Connected Vehicles
• Connected Logistics
• Smart Retail
Global Internet of Things (IoT) Security Market by Region
• Asia Pacific
• North America
• Middle East & Africa
• Latin America
Key player Analyzed in the Global Internet of Things (IoT) Security Market
• Aspirantz InfoSec
• AT&T, Inc.
• Block Armour
• BLUE RIDGE NETWORKS
• CAT CyberLabs
• Check Point Security Software Ltd.
• Cyber Octet
• ENTRUST DATACARD
• Fire Eye Inc.
• Global Sign
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