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Discover the IoT security market trends and forecast, 2014-2024

Discover the IoT security market trends and forecast, 2014-2024

Internet of things (IoT) is a combination of embedded software, hardware, IT services and communication services.

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Introduction:

It helps in connecting various devices including consumer objects and industrial equipment over to a network and thus enables them to gather information and manage all the devices via software in order to increase overall efficiency enabling new and improved services.

IoT aids in creating enhanced and smart communication techniques like smart homes, smart shopping, smart transportation and smart healthcare among others. The key components of internet of things include radio frequency identification (RFID), wireless sensor network (WSN), near field communication (NFC), cloud services, data storage & analytics, and visualization elements and gateways.

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Internet of things helps in efficient and proper monitoring and management of multiple interconnected devices.

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Market Dynamics:

The increasing need for efficient regulatory compliance is one of the key aspects fueling the growth of Global IOT Security Market Make an Inquiry about this news. Owing to the large amount of digital information to be transferred across devices, the governments of various economies are focusing on taking steps to secure the interconnected networks from virus threats and hackers.

This is being achieved by enabling strict regulatory norms and frameworks. Hence, increasing compliance with the aforementioned regulations is another major factor accelerating the demand for IoT security solutions over the forecast period.

In addition, advancements in technologies such as 4G LTE and 3G as well as data hacking threats have increased over the past few years which has forced governments of various countries to establish strict regulatory framework in order to support the overall deployment of IoT security solutions. Also, emergence of smart city concept is projected to pose bright opportunities for the growth of global IoT security market over the foreseeable years.

Governments of developed economies such as U.S., UK, Australia, Germany. are also taking serious steps to enhance the overall development of smart cities by employing Wi-Fi hotspots at multiple locations within the city.

However, the global IoT security market is anticipated to witness various challenges such as high cost of installation.

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Market Classification:

The market is segmented by type, application, solution, service, and region. On the basis of type, the global IoT security market can be segmented into application security, endpoint security, network security, cloud security and others.

On the basis of application, the global IoT security market can be segmented into smart energy and utilities, smart manufacturing, connected logistics, connected healthcare, consumer wearables, smart government and defense, smart retail, connected vehicles, and others. Based on service, the market segments include professional service and managed service.

By solution, the market is segmented into identity access management, data encryption and tokenization, IDS/IPS, security analytics, secure software and firmware update, device authentication and management, secure communications, and others (PKI lifecycle management, distributed denial of service protection). On the basis of region, the global streaming analytics market can be segmented into North America, Latin America, Europe, Middle East & Africa (MEA) and Asia-Pacific.

Report Coverage:

Market Global IoT Security Market
Analysis Period 2014 – 2024
Historic Data 2014 – 2015
Base Year 2016
Forecast Data 2017 – 2024
Market Stratification Type, Application, Solution, Service, Geography
Regional Scope North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)
Report Coverage Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis, Player Profiling, Value Chain Analysis


Market Participants:

Key players involved in the global IoT Security market are focusing on key market strategies including mergers and acquisitions with local as well as established players. Partnership with multinational companies to strengthen their market reach and goodwill is also anticipated to be a major market strategy in the global IoT Security market.

Some of the players in global IoT security market include Infineon Technologies, Cisco Systems, Intel Corporation, Axeda Machine Cloud, Wurldtech Security, Alcatel-Lucent S.A., Siemens AG, Checkpoint Technologies, IBM Corporation, AT&T Inc., Huawei Technologies Co. Ltd, and NETCOM On-Line Communication Services, Inc. among others.

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Market Segmentation

Market by Type

Network security

Endpoint security

Application security

Cloud security

Others

Market by Application

Smart energy and utilities

Smart manufacturing

Connected logistics

Connected healthcare

Consumer wearables

Smart government and defense

Smart retail

Connected vehicles

Others

Market by Solution

Identity access management

Data encryption and tokenization

IDS/IPS

Security analytics

Secure software and firmware update

Device authentication and management

Secure communications

Others (PKI lifecycle management, distributed denial of service protection).

Market by Service

Professional service

Managed service

Market by Geography

North America

o US

o Canada

o Mexico

Europe

o UK

o Germany

o France

o Rest of Europe

Asia-Pacific

o China

o Japan

o India

o Philippines

o Rest of Asia-Pacific

Latin America

o Brazil

o Chile

o Rest of Latin America

Middle East and Africa (MEA)

o South Africa

o Saudi Arabia

o Rest of MEA

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News From

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Category: Market Research Publishers and RetailersCompany profile: Acumen Research and Consulting (ARC) is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, ...

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