According to a research report “IoT Security Market by Type (Network Security & Cloud Security), Component, Solution (Identity and Access Management, Security Analytics, & Device Authentication & Management), Service, Application Area, and Region – Global Forecast to 2025″ published by MarketsandMarkets, the global Internet of Things (IoT) security market size is expected to grow from USD 12.5 billion in 2020 to USD 36.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 23.9% during the forecast period.
Major factors driving the growth of the market are the increasing number of ransomware attacks on IoT devices across the globe, growing IoT security regulations, and rising security concerns over critical infrastructures.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=67064836
Browse 249 market data Tables and 40 Figures spread through 243 Pages and in-depth TOC on “IoT Security Market – Global Forecast to 2025”
The solutions segment to account for a higher market share during the forecast period
Major trends contributing to the market are the increasing security breaches in critical infrastructures and personal data. IoT security solutions include identity and access management, data encryption and tokenization, intrusion detection system/intrusion prevention system, device authentication and management, secure software and firmware update, secure communications, Public Key Infrastructure (PKI) lifecycle management, Distributed Denial of Service (DDoS) protection, security analytics, and others (virtual firewall and incidence response system). These solutions enable enterprises to meet their key requirements, which help in securing their IoT devices.
The smart home and consumer electronics segment to witness the highest growth during the forecast period
Smart home and consumer electronics consist of devices, such as wrist wear, eyewear, neckwear, and body wear, and smart home appliances. Consumer electronics and smart home appliances are vulnerable and susceptible to cyber-attacks. This vulnerability and susceptibility provide IoT security vendors a great opportunity to address the security needs of these consumer wearables. Increasing adoption of smart home devices such as smart glass and smart speakers are enhancing the vulnerability of smart homes. Rise in the number of attacks over smart homes is fueling the demand for integrated security solutions.
North America to account for the highest market share during the forecast period
North America is the dominant region for IoT deployment and progressive in terms of technology adoption. The region comprises the US and Canada. The US is expected to hold a higher market share in the IoT security market. The US and Canada are the early adopters of trending technologies, such as IoT, big data, and mobility, and would provide significant growth opportunities for IoT security vendors.
Speak to Our Expert Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=67064836
The major vendors in the global IoT security market include Cisco (US), IBM (US), Infineon (Germany), Intel (US), Symantec (US), Allot (Israel), , Mocana (US), SecuriThings (Israel), CENTRI (Germany), Armis (US), ForgeRock (US), and NewSky (US).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441