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Internet of Things (IoT) security refers to the safety of connected devices and networks in the Internet of Things (IoT). Internet of Things (IoT) security offers wide range of endpoint security such as antimalware and antivirus along with firewalls & interruption prevention and detection systems. IoT security is generally used to decrease the risk of IP theft, device manipulation and network manipulation.Market Size and Forecast
Global Internet of Things (IoT) security market is expected to expand at a robust CAGR of 41.3% over the forecast period i.e. 2018-2027. Increasing concern toward internet security is expected to drive the growth of the global Internet of Things (IoT) security market. Moreover, high demand for Internet of Things (IoT) security systems in the developing regions is anticipated to positively impact the growth of the global Internet of Things (IoT) security market.
On the basis of regional platform, global Internet of Things (IoT) security market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. In the regional market, North-America is projected to dominate the overall market of Internet of Things (IoT) security during the forecast period. Increasing cybercrime and rising adoption of IoT in various smart devices such as smartphones, PC’s and tablets is anticipated to fuel the growth of the North America Internet of Things (IoT) security market. Moreover, growing advancement in IoT based technology is anticipated significantly for the growth of Internet of Things (IoT) security market in North America. Request for FREE Sample copy
Europe is poised to record fastest growth rate during the forecast period. Rising adoption of cloud based services by small and medium scale enterprises is predicted to trigger the growth of the global Internet of Things (IoT) security market over the forecast period. Asia Pacific Internet of Things (IoT) security market is expected to witness substantial growth over the forecast period. Growing use of 2G, 3G, and 4G (Long-Term Evolution (LTE)) wireless networks is envisioned to strengthen the growth of Internet of Things (IoT) security market in Asia Pacific.
Based on security type, Internet of Things (IoT) security market is segmented into cloud security, network security, application security, endpoint security and others, out of which, network security segment is expected to dominate the overall Internet of Things (IoT) security market during the forecast period.
Market Segmentation
Our in-depth analysis has segmented global Internet of Things (IoT) security market into the following segments:
By Offering
· Solutions
· Services
By Security Type
· Cloud Security
· Network Security
· Application Security
· Endpoint Security
· Others
By Application
· Smart Manufacturing
· Smart Government and Defense
· Smart Energy and Utilities
· Consumer Wearable’s
· Connected Healthcare
· Connected Vehicles
· Connected Logistics
· Smart Retail
· Others
By Region
Global Internet of Things (IoT) security market is further classified on the basis of region as follows:
· North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
· Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
· Europe (U.K., Germany, France, Italy, Spain, Hungary, Russia, Turkey, BENELUX, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
· Asia-Pacific (China, India, Japan, South Korea, Singapore, Australia, New Zealand, Malaysia & Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis
· Middle East and North Africa (GCC, Israel, North Africa, South Africa & Rest of Middle East) Market Size and Y-O-Y Growth Analysis
Growth Drivers & Challenges
Rising concern regarding monitoring and safety features across the globe is anticipated to intensify the growth of the global Internet of Things (IoT) security market. In addition, increasing number of network protocols such as IEEE 802.15.4, and IEEE 802.11ah is projected to positively drive the growth of the global Internet of Things (IoT) security market.
In 2015, Indian government launched "100 Smart Cities Mission", this launch increased the smart city initiative in India. This factor is expected to increase the growth of global Internet of Things (IoT) security market over the forecast period. Apart from this, firewalls & data loss prevention are being integrated with IoT security solutions which is anticipated to be the dynamic factor behind the growth of the global Internet of Things (IoT) security market. Growing safety & aid features offered by the usage of Internet of Things (IoT) security has increased the protection. This factor is anticipated to supplement the growth of the global Internet of Things (IoT) security market.
Further, adoption of IoT technologies in various application areas such as smart manufacturing and healthcare is likely to further strengthen the growth of the global Internet of Things (IoT) security market. In addition, rising demands of cloud technology is expected to increase the growth of global Internet of Things (IoT) security market over the forecast period.
However, lack of awareness about the availability and benefits of IoT security solutions is one of the key factors which are expected to limit the growth of global Internet of Things (IoT) security market in upcoming years. Purchase This Premium Report Here
Key Players
PTC, Cisco Systems Inc, IBM Corporation, Infineon Technologies, Gemalto NV, AT&T Inc., Verizon Enterprise Solutions, Check Point Software Technologies Ltd., Symantec Corporation, Trend Micro and other players.
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