Internet of Things Security (IoT) Market Expected to Grow at 35.2 Billion in Revenue by 2023

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The Global Internet of Things (IoT) Security Market size is expected to grow from US$ 8.2 Billion in 2018 to US$ 35.2 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 33.7% during the forecast period. This report spread across 144 pages, profiling 15 companies and supported with 80 tables and 36 figures is now available in this research.

“The Cloud security segment to grow at the highest CAGR during the forecast period”
Cloud Security addresses both physical and virtual security across the service models of software, platforms, and infrastructures. Various cloud application security solutions include risk assessment, application governance, identity access management, encryption, malware detection and protection, and Security Information and Event Management (SIEM). Cloud security is one of the most important aspects of Internet of Things Security security, as IoT data is saved in Virtual Machines (VMs) and susceptible to cyber-attacks.

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“Asia Pacific (APAC) to grow at the highest growth rate during the forecast period”
APAC has witnessed the advanced and dynamic adoption of new technologies, and is expected to record the highest CAGR during the forecast period. The increasing government initiatives; growing requirements for quick computing, virtualized environments, analytics, security, digitalization, and high-volume networking; and rising overall internet speed and responsiveness are the major factors driving the Internet of Things Security security market growth in this region.

Breakdown of primary participants’ profile:
• By company type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
• By designation: C-Level Executives: 35%,Director Level: 25%, and Others: 40%
• By region: North America: 45%, Europe: 20%, APAC: 30%, and RoW: 5%

Report Highlights:
• To forecast the market size of the segments with respect to 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America

• To define, describe, and forecast the Internet of Things Security security market by type, component, solution, service, application area, and region

• To provide detailed information about the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the market growth

• To analyze opportunities in the market and provide details of the competitive landscape for stakeholders and market leaders

• To analyze competitive developments, such as new partnerships, new contracts, and new product developments, in the Internet of Things Security security market

Reason to Access this report:
The Report would provide the market leaders/new entrants in the IoT security market with information about the closest approximations of the revenue numbers for the overall IoT security market and its sub segments. The report would also help stakeholders understand their competitors better and gain more insights to better position their businesses and plan suitable go-to-market strategies.

Top Companies profiled in the Internet of Things Security Market include are International Business Machines Corporation (IBM), Cisco Systems Inc. (Cisco), Infineon Technologies AG (Infineon), Intel Corporation (Intel), Symantec Corporation (Symantec), Gemalto NV (Gemalto), Allot (Allot), Fortinet, Inc. (Fortinet), Zingbox (Zingbox), Mocana(Mocana), SecuriThings(SecuriThings), CENTRI Technology (CENTRI), Armis, Inc., (Armis), ForgeRock (ForgeRock), and NewSky Security (NewSky).

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This release was published on openPR.