Market Size – USD 13.56 Billion in 2020, Market Growth – at a CAGR of 26.5%, Market Trends – Rising government emphasis on developing smart cities in developing countries.
The global IoT security market is expected to reach a market size of USD 88.09 Billion by 2028 and register a high revenue CAGR, according to latest analysis by Emergen Research. Increasing number of malware and ransomware attacks and development and deployment of more efficient solutions is expected to drive growth of the global IoT security market growth to a significant extent during the forecast period. Increasing regulations for IoT security is expected to further propel the global IoT security market growth over the forecast period.
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Key Highlights of Report
- Increasing trend of companies adopting Bring Your Own Device trend and IoT security threat to organizations’ networks is a factor driving revenue growth of the network security segment currently, which is expected to register a significantly high CAGR of 26.7% over the forecast period.
- In terms of revenue share, the solution segment is expected to lead during the forecast period due to increasing need for security solutions across various industries.
- Key players in the market include International Business Machines Corporation, Cisco Systems, Inc., Intel Corporation, Siemens AG, Infineon Technologies AG, Broadcom Inc., Fortinet Inc., Palo Alto Networks, Inc., Mocana Corporation, and Karamba Security Ltd.
- In June 2020, Cisco Systems, Inc. announced global launch of Cisco SecureX, which is a comprehensive yet embedded cloud-native security framework that includes Cisco Security solutions to streamline and improve the management of security by clients.
Emergen Research has segmented the global IoT security market on the basis of type, component, end-use, and region.
- Type Outlook (Revenue, USD Billion; 2021–2028)
- Cloud Security
- Network Security
- Application Security
- Endpoint Security
- Component Outlook (Revenue, USD Billion; 2021–2028)
- Managed Services
- Professional Services
- Unified Threat Management
- Identity & Access Management
- Data Loss Protection
- End-use Outlook (Revenue, USD Billion; 2021–2028)
- Consumer Electronics
- Energy & Utilities
- Logistics & Transportation
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Factors influencing market remuneration:
- The global IoT Security market report includes a detailed study of the product spectrum of the market and further describes the different product types, including One-sided, Two-sided, and Others.
- The report zeroes in on the overall market dynamics and presents information with regard to the producers and distributors, manufacturing cost structure, and downstream buyers.
- Details pertaining to the expected growth rate, industry share, revenue accumulated, and product segmentationare depicted in this report.
- The application landscape of the global IoT Security market can be categorized into For Human, For Animals, and Others.
- The study further examines the industry share and product demand of each application, coupled withthe predicted growth patterns of the various application segments.
- Other vital factors, such as market concentration ratioand raw material processing rate, have also been covered under the latest study.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2028
Chapter 3. Key Insights
Chapter 4. IoT Security Market Segmentation & Impact Analysis
4.1. IoT Security Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
18.104.22.168. Increasing number of malware and ransomware attacks
22.214.171.124. Growing safety issues on critical infrastructure
126.96.36.199. Rising data vulnerability in IoT networks
188.8.131.52. Increasing regulations for IoT security.
4.2.3. Market restraints analysis
184.108.40.206. The high cost of IoT security solutions
220.127.116.11. Lack of awareness about IoT security solutions among end-users
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. IoT Security Market By Type Insights & Trends Revenue (USD Billion)
5.1. Type Dynamics & Market Share, 2020 & 2028
5.1.1. Cloud Security
5.1.2. Network Security
5.1.3. Application Security
5.1.4. Endpoint Security
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