The emerging applications and business models, coupled with the falling device costs, have been driving the adoption rate of IoT, which is, consequently, influencing the number of connected devices, such asconnected cars, machines, meters, wearable, and consumer electronics.
The Global IoT Security market research report published by market insight reports discovers the current outlook in global and key regions from the viewpoint of Major Players, Countries, Product Types, and end industries. This report studies top players in the global market and divides the Market into several parameters.
This IoT Security Market research report pinpoints the competitive landscape of industries to understand the competition at the International level. This report study describes the projected growth of the global market for approaching years from 2024 to 2030.
This research report has been accumulated based on static and dynamic views of the businesses.
The IoT Security Market is expected to grow at 22.1% CAGR from 2024 to 2030. It is expected to reach above USD 71.60 billion by 2029 from USD 11.87 billion in 2020.
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IoT Security Market Trends
This section covers the major market trends shaping the IoT Security Market according to our research experts:
Network Security Is Expected to Witness the Fastest Growth Rate
- IoT networks are the prominent targets and the primary concern for enterprises across the world. The network security segment covers various subsegments, such as firewalls, servers, VPN, IDS, IPS, WIDPS, gateway, and network hardware. The growing trend of adopting BYOD and IoTs in enterprises is increasing the security concerns of attacks on enterprise networks. For instance, according to IT Candor, the size of the global network hardware market during fiscal 2018 was valued at USD 181 billion. Enterprise network hardware alone was valued at USD 52 billion.
- According to the IBM X-Force threat intelligence report, in 2018 it was recorded an increase of 5,400% in the number of IoT vulnerabilities over the number reported just five years earlier. Mirai attack, back in 2016, is a prominent example of using IoT to attack servers. The malware used botnet, which enlisted over 150,000 devices to send 1TB of data per second at the vendor’s servers.
- To date, the majority of the IoT based attacks have occurred in DDoS form. According to Symantec’s report, three kinds of DDoS associated malware, such as LightAidra, Kaiten, and Mirai, collectively accounted for nearly 80% of the 2018 year’s IoT attacks.
The Leading Players in the Global IoT Security Market:
PTC (US), Symantec Corporation (US), Infineon Technologies (Germany), Trustwave Holdings (US), Check Point Security Software Technologies Ltd. (US), IBM Corporation (US), Cisco Systems Inc.
(US), Gemalto NV (Netherlands), AT&T Inc. (US), Trend Micro, Inc. (Japan), DigiCert (US), Intel Corporation (US), General Electric (US), Verizon (US)
Market News:
- Sept 2019-Trustwave announced a cloud-based cybersecurity platform that serves as the foundation for the company’s managed security services, products and other cybersecurity offerings. The Trustwave Fusion platform is purpose-built to meet the enterprise, where it is involved in operations as it embraces digital transformation and contend with a continuously evolving security landscape.
- June 2019 -Symantec Corp.announced a new service for Symantec’s Cloud Workload Protection (CWP) solution and Amazon Guard Duty to provide automated remediation and enhanced threat intelligence for AWS workloads and storage. This new service will help enterprises to navigate the complex security landscape, allowing AWS customers to automate and streamline key components of cloud security.
Segmentation Analysis of the market:
The market is segmented based on the type, product and application. The segmentation helps to deliver a precise explanation of the market.
IoT Security Market By Type, 2020-2029, (USD Billion)
Network Security
Endpoint Security
Application Security
Cloud Security
IoT Security Market By Component, 2020-2029, (USD Billion)
Solutions
Services
IoT Security Market By Deployment Mode, 2020-2029, (USD Billion)
On-Premises
Cloud
IoT Security Market By Organization Size, 2020-2029, (USD Billion)
Small And Medium Enterprises
Large Enterprises
IoT Security Market By Application Area, 2020-2029, (USD Billion)
Smart Manufacturing
Smart Energy And Utilities
Connected Logistics
Smart Home And Consumer Electronics
Connected Healthcare
Smart Government And Defense
Smart Retail
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Regional Analysis for IoT Security Market:
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), and market share and growth rate of the IoT Security Market in these regions, from 2024 to 2030 (forecast) covering:
Europe, China, Japan, Southeast Asia, India, North America (USA, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia–Pacific (China, Japan, Korea, India, and Southeast).
Asia-Pacific Occupies The Largest Market Share
Asia-Pacific is the most prominent region for the adoption of IoT, owing to smart city projects being built in the region. The massive industrialization and the rising number of mobile device users in Asia-Pacific also indicate that the region is expected to witness significant growth.
Important Features that are under Offering and Key Underlines of the Reports:
– Detailed overview of the market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.,
– Historical, Current, and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of the IoT Security Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2029)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Table of Contents
– Market Summary
– Economic Impact Competition Analysis by Players
– Production, Revenue (Value) by geographical segmentation
– IoT Security Market Size by Type and Application
– Regional Market Status and Outlook
– IoT Security Market Analysis and Outlook
– Market Forecast by Region, Type, and Application
– Cost Investigation, Market Dynamics
– Marketing Strategy comprehension, Distributors and Traders
– Market Effect Factor Analysis
– Research Finding/ Conclusion
– Appendix
Finally, the IoT Security Market report is a believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, market development rate and figure, and so on.
IoT Security industry report additionally Presents new task SWOT examination, speculation attainability investigation, and venture return investigation.
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