The Global Internet of Things (IoT) Security Market accounted for USD 6.62 billion in 2016 growing at a CAGR of 35.52% during the forecast period of 2017 to 2024.
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Market Definition of Global Internet of Things (IoT) Security
IoT security is the area connected with safeguarding connected devices networks in the IoT. IoT security has led to re-engineer the authentication and authorization for the new and improved IoT connected world.
It also requires a degree of user-intervention in terms of configuration and provisioning. It has its wide application in smart manufacturing, smart energy and utilities, connected logistics, consumer wearables, connected healthcare, smart government and defense, connected vehicles, smart retail, and others.
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Increasing need for data-centric security acts as the major driver in the growth of internet of things (IoT). On the other hand endless variety of IoT applications may hinder the market.
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Data Bridge Market Research added new Industry report of Global Internet of Things (IoT) Security Market accounted for USD 6.62 billion in 2016 growing at a CAGR of 35.52% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Global Internet of Things (IoT) Security Market, By Geography; Component (Services, Solutions); By Type (Network Security, Endpoint Security, Application Security, Cloud Security); Solution (Identity Access Management, Data Encryption and Tokenization, Intrusion Detection System/Intrusion Prevention System, Device Authentication and Management, Secure Software and Firmware Update, Secure Communications); Service (Professional Services, Managed Services); Application (Smart Manufacturing, Smart Energy and Utilities, Connected Logistics, Consumer Wearables, Connected Healthcare, Smart Government and Defense, Connected Vehicles, Smart Retail)- Industry Trends and Forecast to 2024
Market Competitors of Global Internet of Things (IoT) Security Market
Some of the major players of the global internet of things (IoT) security market are Geographic Revenue Mix , Cisco Systems, Inc , BM Corporation , Infineon Technologies , Intel Corporation, Symantec Corporation , Arm Holdings PLC , Check Point Software Technologies Ltd , Trend Micro, Inc , PTC,Inc , Gemalto NV , Sophos Group PLC , Inside Secure , Wurldtech Security Technologies Inc, and others.
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Market Segmentation of Global Internet of Things (IoT) Security Market
The global internet of things (IoT) security market is segmented on the basis of component into Services, Solutions.
On the basis of type, the global internet of things (IoT) security market is further segmented into network security, endpoint security, application security, cloud security.
On the basis of solution, the global internet of things (IoT) security market is segmented into identity access management, data encryption and tokenization, intrusion detection system/intrusion prevention system, device authentication and management, secure software and firmware update, secure communications, PKI lifecycle management, distributed denial of service protection, security analytics.
On the basis of service, the global internet of things (IoT) security market is segmented into professional services, and managed services. The professional services is further sub segmented into integration services, support and maintenance, and consulting services
On the basis of application, the global internet of things (IoT) security market is segmented into smart manufacturing, smart energy and utilities, connected logistics, consumer wearables, connected healthcare, smart government and defense, connected vehicles, smart retail, and others.
On the basis of geography, Global Internet Of Things (Iot) Security Market Report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
In 2017, North America is expected to dominate the market.
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Major market drivers & restraints:
- Increasing need for data-centric security
- Increase in risk-based adaptive security for IoT ecosystem
- Increasing ransomware attacks on IoT systems
- Securing ubiquitous environment
- Physical restraint of IoT devices
- Endless variety of IoT applications
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