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Internet of Things (IoT) Security Market Outlook 2018-2027 Technological Innovations and Futuristic Growth

01-15-2020 07:31 AM CET | IT, New Media & Software

Press release from: Kenneth Research

Internet of Things (IoT) Security Global Market To Expand With Significant CAGR of 41.3% During Forecast Period 2018-2027

Internet of Things (IoT) Security Global Market To Expand With Significant CAGR of 41.3% During Forecast Period 2018-2027

Internet of Things (IoT) security refers to the safety of connected devices and networks in the Internet of Things (IoT). Internet of Things (IoT) security offers wide range of endpoint security such as antimalware and antivirus along with firewalls & interruption prevention and detection systems. IoT security is generally used to decrease the risk of IP theft, device manipulation and network manipulation.

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Market Size and Forecast

Global Internet of Things (IoT) security market is expected to expand at a robust CAGR of 41.3% over the forecast period i.e. 2018-2027. Increasing concern toward internet security is expected to drive the growth of the global Internet of Things (IoT) security market. Moreover, high demand for Internet of Things (IoT) security systems in the developing regions is anticipated to positively impact the growth of the global Internet of Things (IoT) security market.

On the basis of regional platform, global Internet of Things (IoT) security market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. In the regional market, North-America is projected to dominate the overall market of Internet of Things (IoT) security during the forecast period. Increasing cybercrime and rising adoption of IoT in various smart devices such as smartphones, PC’s and tablets is anticipated to fuel the growth of the North America Internet of Things (IoT) security market. Moreover, growing advancement in IoT based technology is anticipated significantly for the growth of Internet of Things (IoT) security market in North America.

Europe is poised to record fastest growth rate during the forecast period. Rising adoption of cloud based services by small and medium scale enterprises is predicted to trigger the growth of the global Internet of Things (IoT) security market over the forecast period. Asia Pacific Internet of Things (IoT) security market is expected to witness substantial growth over the forecast period. Growing use of 2G, 3G, and 4G (Long-Term Evolution (LTE)) wireless networks is envisioned to strengthen the growth of Internet of Things (IoT) security market in Asia Pacific.

Based on security type, Internet of Things (IoT) security market is segmented into cloud security, network security, application security, endpoint security and others, out of which, network security segment is expected to dominate the overall Internet of Things (IoT) security market during the forecast period.

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Key Players

PTC
Cisco Systems Inc.
IBM Corporation
Infineon Technologies
Gemalto NV
AT&T Inc.
Verizon Enterprise Solutions
Check Point Software Technologies Ltd.
Symantec Corporation
Trend Micro
and Others

Growth Drivers & Challenges

Rising concern regarding monitoring and safety features across the globe is anticipated to intensify the growth of the global Internet of Things (IoT) security market. In addition, increasing number of network protocols such as IEEE 802.15.4, and IEEE 802.11ah is projected to positively drive the growth of the global Internet of Things (IoT) security market.

In 2015, Indian government launched “100 Smart Cities Mission”, this launch increased the smart city initiative in India. This factor is expected to increase the growth of global Internet of Things (IoT) security market over the forecast period. Apart from this, firewalls & data loss prevention are being integrated with IoT security solutions which is anticipated to be the dynamic factor behind the growth of the global Internet of Things (IoT) security market. Growing safety & aid features offered by the usage of Internet of Things (IoT) security has increased the protection. This factor is anticipated to supplement the growth of the global Internet of Things (IoT) security market.

Further, adoption of IoT technologies in various application areas such as smart manufacturing and healthcare is likely to further strengthen the growth of the global Internet of Things (IoT) security market. In addition, rising demands of cloud technology is expected to increase the growth of global Internet of Things (IoT) security market over the forecast period.

However, lack of awareness about the availability and benefits of IoT security solutions is one of the key factors which are expected to limit the growth of global Internet of Things (IoT) security market in upcoming years.

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The market report answers the following questions:

What is the aim of the report?

The market report presents the estimated market size of market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
An overview of the market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
The report presents current trends in the industry and future scope of the market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
The various parameters accelerating the growth of the market are incorporated in the research report.
The report analyzes growth rate, market size and valuation of the market during the forecast period.

What aspects regarding the regional analysis of market are included in this report?

Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
The growth rate of the market in every region, including their countries over the forecast period is included in the market report.

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Contact Us
Kenneth Research
Email: Sales@kennethresearch.com
Phone: +1 313 462 0609

About Kenneth Research:

Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

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