Global IoT Security Market Size, Forecasts, And Opportunities
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.
The global Internet of Things security market size is expected to grow from $3.86 billion in 2021 to $5.09 billion in 2022 at a compound annual growth rate (CAGR) of 31.7%. The change in the IoT security market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $15.06 billion in 2026 at a CAGR of 31.2%.
The emergence of smart city concept is the driving force for the rise in demand for IoT Security.
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The IoT security market consists of sales of Internet of Things (IoT) security devices/ software and related services. The 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 and Life Sciences, Infrastructure and Cities, Industrial System and Sensors, Smart Home and Consumer, Transport and 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, 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 and 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 (2016-21) and ten years forecast (2022-2026-2031)
The IoT Security Global Market Report 2022 –Market Size, Trends, And Global Forecast 2022-2026 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.
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