openPR Logo
Press release

IoT Security Market Projected to reach $35.2 billion by 2023 | Key players include Cisco, IBM, Intel, Infineon and Symantec

05-06-2019 02:31 PM CET | IT, New Media & Software

Press release from: MarketsandMarkets

IoT Security Market Projected to reach $35.2 billion by 2023 | Key

According to recent research "IoT Security Market by Type (Network Security & Cloud Security), Component, Solution (Identity Access Management, Security Analytics, & Device Authentication & Management), Service, Application Area, and Region - Global Forecast to 2023", the global Internet of Things (IoT) security market size is expected to grow from USD 8.2 billion in 2018 to USD 35.2 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 33.7% during the forecast period. Major factors driving the growth of the market are the increasing number of ransomware attacks on IoT devices across the globe, growing IoT security regulations, and rising security concerns over critical infrastructures.

Browse 80 market data Tables and 36 Figures spread through 144 Pages and in-depth TOC on "IoT Security Market”
https://www.marketsandmarkets.com/Market-Reports/iot-security-market-67064836.html?utm_source=Openpr

The solutions segment to account for a higher market share during the forecast period

Major trends contributing to the market are the increasing security breaches in critical infrastructures and personal data. IoT security solutions include identity access management, data encryption and tokenization, intrusion detection system/intrusion prevention system, device authentication and management, secure software and firmware update, secure communications, Public Key Infrastructure (PKI) lifecycle management, Distributed Denial of Service (DDoS) protection, security analytics, and others (virtual firewall and incidence response system). These solutions enable enterprises to meet their key requirements, which help in securing their IoT devices.

The network security segment to account for the highest market share during the forecast period

Network security is a technique for securing networks from advanced threats by collecting and analyzing the different types of network security event information. It combines the multiple layers of defenses at the edge and in networks. It is one of the important aspects when it comes to securing the IoT ecosystem. It consists of wireless communication, remote access security, and gateway. In the IoT ecosystem, a huge amount of data is communicated through remote devices; therefore, the security of this wireless communication plays a significant role in network security. The key trend contributing to the growth of the network security segment is the rising adoption of IoT applications among various industries.

The device authentication management segment to account for the highest market share during the forecast period

Identity access and management refers to a business process framework. This framework consists of policies and technologies, which help organizations control the appropriate accesses of all employees to technology resources. It is the process of managing attributes, such as phone numbers, email addresses, and social security numbers and authenticating identities. IoT is gaining traction across industries, due to its robust offerings. With the expanding reach of IoT, multiple end users and devices can be connected to networks. One of the main causes of cyber-attacks is unauthorized access to networks through intrusions. The identity access management solution plays a vital role in managing enterprises’ electronic or digital identities. These solutions can be quickly and cost-effectively integrated with identity access management policies across on-premises, cloud, and hybrid environments.

Speak to our Research Expert @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=67064836&utm_source=Openpr

North America to account for the highest market share during the forecast period

North America is the dominant region for IoT deployment and progressive in terms of technology adoption. The region comprises the US and Canada. The US is expected to hold r a higher market share in the IoT security market. The US and Canada are the early adopters of trending technologies, such as IoT, big data, and mobility, and would provide significant growth opportunities for IoT security vendors.

The major vendors in the global IoT security market include Cisco (US), IBM (US), Infineon (Germany), Intel (US), Symantec (US), Gemalto (Netherlands), Allot (Israel), Fortinet (US), Zingbox (US), Mocana (US), SecuriThings (Israel), CENTRI (Germany), Armis (US), ForgeRock (US), and NewSky (US).

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: newsletter@marketsandmarkets.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release IoT Security Market Projected to reach $35.2 billion by 2023 | Key players include Cisco, IBM, Intel, Infineon and Symantec here

News-ID: 1728456 • Views: 482

More Releases from MarketsandMarkets

Integrated Passive Devices Market in Asia Pacific to grow at the highest CAGR du …
In this research report, the integrated passive devices (IPD) market has been segmented on the basis of material, passive devices, application, wireless technology, end use industry, and geography. This market is expected to witness a significant growth during the forecast period. The IPD market is expected to be valued at USD 1,544.9 million by 2023, growing at a CAGR of 8.8% between 2018 and 2023. https://www.marketsandmarkets.com/Market-Reports/integrated-passive-device-market-43468224.html Major factors driving the growth of
Optical 3D motion capture system by system is expected to hold the largest share …
3D motion capture is a technique of digitally recording the movement of object or individual and convert it into actionable data to recreate 3D model. Presently, 3D motion capture has been widely used by film studios, neuroscientists, and biomechanical researchers. Factors such as high quality animation, high real-time data accuracy, and reduction in implementation cost of 3D motion capture systems are driving the growth of the 3D motion capture market.
Millimeter Wave Technology Market worth $5.23 billion by 2025 with a growing CAG …
The millimeter wave technology market has been segmented on the basis of product, frequency band, license type, application, component, and geography. The millimeter wave technology market is expected to grow at a CAGR of 35.2% between 2017 and 2023. https://www.marketsandmarkets.com/Market-Reports/millimeter-wave-technology-market-981.html Product launch and development has been the key strategy adopted by the players to grow and stay competitive in the millimeter wave technology market. This strategy accounted for a share of ~59%
Aerosol Cans Market worth 10.93 billion USD by 2021 | Key Players include Ball C …
According to recent market research "Aerosol Cans Market by Material (Aluminium, Steel, and Plastic), Product Type (Necked-in, Straight wall, and Shaped), Propellant Type (Liquefied Gas, and Compressed Gas), End-use Sector, and Region - Global Forecast to 2021", The aerosol cans market size is projected to grow from USD 8.74 billion in 2015 to reach USD 10.93 billion by 2021, at a CAGR of 3.9%. Browse 136 market data tables and 48

All 5 Releases


More Releases for IoT

Global IoT Gateway Market
Global IoT Gateway Market – Industry Analysis and Forecast (2018-2026) – by Node, Connectivity Technology, Component, Application, and Region. Global IoT Gateway Market was valued US$ 11.5 Bn in 2017 and is expected to reach US$ 85 Bn by 2026, at a CAGR of 28.41 % during the forecast period. The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated
Global IoT Software Market
Global IoT Software Market is segmented into type, application, and geography. On the basis of type, a market is segmented into Real-time Streaming, Analytics Software, Security Solution Software, Data Management Software, Remote Monitoring System Software, and Network Bandwidth Management Software Global IoT Software Market was valued US$ 1.5 Bn in 2017 and expected to reach US$ 7.9 Bn in 2016, at CAGR 23.8% during forecast period. Browse Complete Premium Research
Global IOT Sensors Market
Global IOT Sensors Market – Industry Analysis and Forecast (2016-2024) Global IOT Sensors Market was valued at more than US$ 4 Bn in 2016 and is expected to cross US$ 45 Bn by 2024, at CAGR of more than 40%. The increase in IoT sensors market growth is driven by the certain key factors such as development of cheaper, smarter, and advanced sensors, rising market demand for smart devices and
IoT Data Management Market
The demand for IoT data management has increased due to widespread adoption of end-to-end data management platforms to capitalize IoT data more efficiently. Moreover, modernization of data warehouse architecture, rising need for data security and data traffic management, and rising implementation of IoT device security for data encryption are some of the other factors driving demand in this market. The global IoT data management market can be categorized based on type
Telecom IoT
Publisher’s market research analysts predict the global telecom IoT market to grow steadily during the forecast period and post an impressive CAGR of more than 42% by 2020. This industry research report identifies the growing adoption of intelligent transportation systems (ITS) to be one of the major factors that will have a positive impact on the growth of this market in the coming years. In addition to enabling operators to
IoT Processor Market
In this connected world, internet of things (IoT) is fueling every aspect of human lives. The data that is generated every day from these connected devices is humongous. Proper functioning of these connected devices requires real time exchange of data and information amongst them so that they can solve human problems. In another word IoT means more data, more sensors, agile responses, end-to-end connectivity and smarter user interfaces. All these