IoT Security Market worth over $31.42 Billion With 31.01% of CAGR By 2022: Global Market Insights, Inc

“Global IoT Security Market”
The report “IoT Security Market By Type (Endpoint security, Network Security, Cloud Security, Application Security & Other Types) – Global Forecast to 2022”, issued by Crystal Market Research, the market has come across substantial development in the recent years and is projected to grow significantly over the forecast period.

This report focuses on the IoT Security Market by Manufacturers, Regions, Type and Application, exclusively in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on type, application, regions, and manufacturers.

Industry Trend Analysis:

In 2012, the global internet of things (IoT) security market was evaluated around USD 1.56 billion and is expected to reach approximately USD 31.42 billion by 2022 while registering itself at a compound annual growth rate (CAGR) of 31.01% over the forecast period. Internet of Things (IoT) links devices like consumer objects and industrial equipment on to a network, facilitating the accumulation of data and device management via software to augment efficiency as well as allow new services. The IoT combines embedded software, hardware, IT services, and communication services. The Internet of Things has an accession of existing information technology and operational technology (OT) networks of organizations, besides multiple sensors, and devices other smart objects. Growing dependence on the present network connectivity grants rise to challenges involving security risks. The focus and priority of the IT network are to secure information confidentially and protect access, assuring employee and operational safety. Hence, there is an amplified IoT security solutions demand at offices. The organizations like Cisco systems are attempting to develop the approach that merges cyber and physical security elements for employee protection and safety of the total system.

Competitive Outlook and Trend Analysis:

Intel Corporation, IBM Corporation, Infineon Technologies, Hewlett Packard Development Company L.P., Cisco Systems, Inc., Sophos Group Plc, ARM Holdings, INSIDE Secure SA, Gemalto NV, and Symantec Corporation are some of the key market players in the global IoT security market.

Regional Outlook and Trend Analysis:

North America emerges as the dominating market, in terms of market revenue. The expansion of this region might be assigned to the wide deployment of IoT equipment over various countries and domains and the imposition of regulatory models. For instance, the adoption of laws like Health Insurance Portability and Accountability Act (HIPPA) and Payment Card Industry Data Security Standard (PCI DSS) has been driving the market growth. The Asia Pacific IoT security market in has been rising rapidly, owing to the higher number of business enterprises, the unregulated use of the Internet, and rise in the mobile workforce. The escalating economy, the new national security policies, and social transformation in countries like Singapore, India, and Japan have also been accountable for the development of IoT security market around the region.

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By Component:

  • Services
    • Professional services
      • Support and Maintenance
      • Integration Services
      • Consulting Services
    • Managed services
  • Solutions
    • Identity access management
    • Security analytics
    • IDS/IPS
    • Device authentication and management
    • Secure software and firmware update
    • Data encryption and tokenization
    • Secure communications
    • PKI lifecycle management
    • Distributed denial of service protection
    • Other Solutions

By Type:

  • Endpoint security
  • Network security
  • Cloud security
  • Application security
  • Other Types

By Application:

  • Connected Logistics
  • Consumer Wearables
  • Smart Government and Defense
  • Smart Energy and Utilities
  • Connected Vehicles
  • Smart Retail
  • Smart Manufacturing
  • Other Applications

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Component Outlook and Trend Analysis:

The advent of integrated security solutions is anticipated to boost the growth projection of the global IoT security industry. The IoT security solutions demand will enhance amongst end-users as there is a requirement for rendering total security to devices and networks. As individual IoT security solutions are costly, the majority end-users prefer integrated IoT security solutions. Firewalls and data loss prevention are being incorporated with IoT security solutions which will further fuel the market growth.

Major Table of Contents:

Chapter 1. Introduction

1.1. Report Description

1.2. Research Methodology

1.2.1. Secondary Research

1.2.2. Primary Research

Chapter 2. Executive Summary

2.1. Key Highlights

Chapter 3. Market Overview

3.1. Introduction

3.1.1. Market Definition

3.1.2. Market Segmentation

3.2. Market Dynamics

3.2.1. Drivers Growing Need for Data-Centric Security Growing Ransomware Attacks on IoT Systems Growing Risk-Based Adaptive Security for IoT Bionetwork

3.2.2. Restraints High price of IoT Security Innovations

3.2.3. Opportunities Rising Utilizations of Freeware IoT Operating Systems

Chapter 4. IoT Market, By Component

Chapter 5. IoT Market, By Type

Chapter 6. IoT Market, By Application

Chapter 7. IoT Market, By Region

Chapter 8. Company Profiles

List of Tables:

Table 1.IoT Security Market, By Component, 2012-2022, ($Million)
Table 2.Services Market, By Type, 2012-2022, ($Million)
Table 2.Services Market, By Region, 2012-2022, ($Million)
Table 3.Professional services Market, By Type, 2012-2022, ($Million)

List of Figures:

Figure 1.IoT Security Market Share, By Component, 2012 & 2022
Figure 2.IoT Security Market, By Type, 2016, ($Million)
Figure 3.IoT Security Market, By Application, 2016, ($Million)

…Read Full Table of Contents

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About Crystal Market Research:

Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.

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