IoT Security Market Size, Trends & Growth Analysis Report by 2027

A comprehensive analysis of global IoT Security market size, share, growth trends and forecast is covered in the report. The report offers crucial insights on market growth driving factors, restraints, analysis of growth revenue pockets, new growth opportunities and upcoming growth challenges in order to give clear understanding of latest industry trends and dynamics.

The report helps gain granular market information at global, regional and country level for IoT Security market. The report is a blend of valuable information from top industry experts, KOLs, key industry professionals, major vendors from both demand and supply side.

The investigation acknowledges accurate and precise revenue data for major segments of IoT Security market with key insights on competitive landscape, current market developments such as mergers, acquisitions, joint ventures, technology advancements.

Table of Contents

IoT Security Market Size:

The global IoT Security Market is estimated to grow from USD 7.94 Billion in 2019 to reach USD 75.17 Billion by 2027, at a CAGR of 32.4% during the forecast period from 2020-2027.

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Key Players Analysis:

The report provides key player analysis along with company revenue shares in order to give a broader overview of the market players in the IoT security market. Major players in IoT security market are SecuriThings, Allot, NewSky, Gemalto, Infineon Technologies, Symantec and Cisco, Zingbox, Mocana, ForgeRock

Market Overview:

The Internet of Things (IoT) links devices like industrial equipment and consumer items to a network, allowing information collection and management of these devices through software to improve productivity and allow new services. IoT blends embedded software, hardware, networking and IT infrastructure. IoT helps to build smart communication environments like smart houses, smart shopping malls, smart healthcare, and smart transport. IoT protection can be handled by network-powered technology. IoT assists in the efficient control and tracking of interconnected multiples.

Growing the number of IoT security regulations among emerging economies and rising threat of malware and phishing among different companies is driving the market growth for IoT security. The demand for these solutions is increasing among the end users as there is a need to provide overall protection to apps and networks. Since standalone IoT security solutions are costly, most end users opt for integrated IoT security solutions. IoT security solutions also provide increased support and functionality to customers, which is further boosting the market growth.

Segmentation Analysis:

The global market for the IoT security is segmented into component, application, type, and region. Based on type, the market for IoT security is segmented into endpoint security, network security, cloud security, application security, and others. The network security segment accounted for almost 33% share of the market in 2019.

Network security is a strategy used to protect networks from advanced threats by gathering and analyzing various types of network security information.Based on component, the market is categorized into solution, and services. The solutions segment is further classified into security analytics, identity access management, intrusion prevention system, distributed denial of service protection, device authentication and management, PKI lifecycle management, and others.

The services segment is further divided into managed, and professional services. The solutions segment held major share of the market in 2019. The goal and objective of the IT network is to protect data safely and confidentially, ensuring organizational and employee health. There is also growing need for IoT safety solutions at the workplace.

Companies such as Cisco systems are seeking to establish an approach that incorporates physical and cyber security components for the safety of workers and the defense of the entire network.

Ask for Discount : https://www.reportcrux.com/check-discount/IoT-Security-MarketOn the basis of end user, the global market for IoT security is segmented into government sector, aerospace and defense, retail, BFSI, energy & utilities, healthcare, manufacturing, transportation, and others. The energy & utilities segment accounted for almost 27% share of the market in 2019. Organizations in energy and utilities field concentrate mainly on three aspects when implementing smart energy systems. Such aspects are the management of output, delivery of electricity, and the supply of electrical power. The incorporation of IoT for these factors helps to reduce the costs of designing, evaluating and installing integrated networks in the final energy grids.

Regional Analysis:

Geographically, the market is classified into Middle East & Africa, Asia Pacific, Europe, North America, and Latin America. North America held almost 37% of the market in 2019. North America is made up of developing countries like the U.S. and Canada. Such countries have invested extensively in R&D programs, leading to the development of emerging technologies.The U.S. and Canada are new trendsetting technologies like Big Data, IoT, and automation which are generating huge opportunities for IoT security vendors. The start-up culture in North America is rising faster than in any other regions. The rising number of SMEs and the growing trend of digitization in various industries are expected to fuel the growth of the North American industry. Asia Pacific is also likely to grow at high CAGR in the forecast period.

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