The Global IoT Security Market Report by The Business Research Company Covers IoT Security Market Drivers And Restraints, IoT Security Market Size, Major Players, And The Impact Of COVID-19 On The IoT Security Market.
The Internet of Things (IoT) security market consists of sales of Internet of Things security devices/ software and related services. IoT security is a technological area that provides solutions for safeguarding smart devices, networks, other connected devices and centralized user hubs from unwanted manipulation. This industry includes establishments that provide security solutions to counter IoT security threats such as remote vehicle hijacking, privacy leaks, brute force attacks on passwords and others.
The emergence of smart city concept is the driving force for the rise in demand for IoT Security. As the population is growing, the need for sustainable development is of more important. Smart cities are well equipped with handling high traffic, population control, and better security for people.
The global IoT security market is expected to grow from $1.95 billion in 2020 to $2.22 billion in 2021 at a compound annual growth rate (CAGR) of 13.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The Internet of Things (IoT) security market is expected to reach $6.43 billion in 2025 at a CAGR of 30.5%.
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Some IoT security market trends include usage of blockchain. The increasing usage of block chain technology in order to protect data of IoT devices, enhance transparency and security, reduce costs, and increase efficiency is a new trend in the IoT Security market. Block chain is a distributed decentralized ledger and underlying technology of bitcoin (a cryptocurrency) which is shared database (can be saved, owned, updated at different levels), not managed by central authority, comprising secure transactions, authenticated and verifiable. The block chain technology is integrated into IoT networks to provide additional privacy and security. It helps in reduction of processing time and cost, records transactions of all connected IoT devices, ensures tracking connected devices, coordinates these devices and aid smooth transaction process, provides efficiency to compliance issues, avoid re-entries, data leakages and frauds, minimize time to settle losses and ensures cryptographic security.
Global IoT security market segments include:
1) By Type: Network Security, Endpoint Security, Application Security, Cloud Security, Others.
2) By Application: Healthcare & Life Sciences, Infrastructure & Cities, Industrial System & Sensors, Smart Home & Consumer, Transport & Urban Mobility.
3) By Component: Solution, Services.
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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The IoT Security Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides IoT security market overviews, analyzes and forecasts market size, share, IoT security market players, IoT security market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The IoT security market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read IoT Security Global Market Report 2021: COVID-19 Growth And Change To 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries.
Market Players Covered: Cisco, IBM, Intel, Infineon, Symantec Corporation, Check Point Security Software, Gemalto, AT&T Inc., Alcatel-Lucent S.A, Allot, Fortinet, Mocana, Securithings, Centri, Armis, Forgerock, Newsky, PTC Inc., Verizon Enterprises Solutions, Trustwave, Siemens AG, Wurldtech Security, Axeda Machine Cloud, Huawei Technologies Co. Ltd, NETCOM On-Line Communication Services, Sophos, NSIDE Secure, ARM Holding.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing And Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The IoT Security Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The IoT Security Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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