Global IoT Security Market Overview And Prospects

December 6, 2021 by The Business Research Company

Learn about the global IoT security market through The Business Research Company, which provides information on IoT security market size, IoT security market drivers and restraints, IoT security market players, the COVID-19 impact on the IoT security market, and more.

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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%.

The emergence of smart city concept is expected to drive innovation in IoT security manufacturing, thus driving the market during the forecast period.

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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.

Global IoT security market segments include:

By Type: Network Security, Endpoint Security, Application Security, Cloud Security, Others

By Application: Healthcare & Life Sciences, Infrastructure & Cities, Industrial System & Sensors, Smart Home & Consumer, Transport & Urban Mobility

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.

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.

TBRC’s IoT security market report covers:

Major Market Players: Cisco, IBM, Intel, Infineon and Symantec Corporation.

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)

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, leading competitor revenues, profiles and market shares.

TBRC’s IoT security market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Here is a list of similar reports from The Business Research Company:

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