The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As the population is growing, the need for sustainable development are expected to drive innovation in IoT security manufacturing, thus driving the market during the forecast period.

The global IoT security market is expected to grow from $5.09 billion in 2022 to $6.68 billion in 2023 at a compound annual growth rate (CAGR) of 31.3%. The global IoT security market size is expected to grow to $20.04 billion in 2027 at a CAGR of 31.6%.

Get A Free Sample On The Global IoT Security Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=2477&type=smp

Global IoT Security Market Segments Include:

• By Type: Network Security, Endpoint Security, Application Security, Cloud Security, Other Types
• 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. Among these regions, Asia Pacific is the largest region in the global IoT security market in 2021.

Major Market Players in the IoT security market include CisCo., IBM, Intel, Infineon, Symantec Corporation, Check Point Security Software, Gemalto, AT&T Inc., Alcatel-Lucent S.A, Allot, Fortinet, Mocana.

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. For instance, Atonomi provides IoT security solutions to IoT developers and manufacturers with blockchain based immutable identity and reputation tracking. Moreover, in August 2021, according to an article published by Aksjebloggen, a Norway-based provider of financial information, by 2024, it is anticipated that global spending on blockchain solutions will increase by 188% and reach $19 billion. In 2020, global spending on blockchain solutions is by 66% year over year. According to statistics, this amount is predicted to rise by $2.1 billion in 2021 and then by another $12.4 billion during the following three years.

The IoT Security Global Market Report 2023  provides a IoT security market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The IoT security market forecast analyzes IoT security market size, IoT security market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Internet of Things (IoT) security refers to the safeguards and protections provided for cloud-connected devices such as home automation, SCADA machines, security cameras, and any other technology that connects directly to the cloud.

Explore Similar Reports From The Business Research Company:

IoT Global Market Report 2023

IoT In Manufacturing (Focus On Machine Learning) Global Market Report 2023

IoT Testing Global Market Report 2023

Learn More About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Found this article helpful? Share it on: