IoT Security Market Statistics 2020: Key Growth Factors and Company Profiled Such as IBM Corporation,Infineon Technologies AG,Intel Corporation,Broadcom,Cisco Systems Inc.,Fortinet Inc.,Gemalto NV,Palo Alto Networks Inc., SecuriThings, Trend Micro Incorpo

The Objective of the "Global IoT Security Market" report is to depict the trends and upcoming for the IoT Security Market industry over the forecast years. IoT Security Market report data has been gathered from industry specialists/experts. Although the market size of the market is studied and predicted from 2020 to 2027 mulling over 2019 as the base year of the market study. Attentiveness for the market has increased in recent decades due to development and improvement in the innovation.

According to the report, the global IoT security industry was pegged at $8.47 billion in 2018 and is projected to reach $73.92 billion by 2026, registering a CAGR of 31.2% from 2019 to 2026.

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Increase in malware and phishing threats among enterprises, rise in adoption of IoT and BYOD trend, and numerous benefits provided by IoT security solutions drive the growth of the global IoT security market. However, constant need to conform to industry standards and regulations and complexities of device security hamper the market growth. On the contrary, the need for strong authentication methods and transformation in traditional anti-virus software industry are expected to create lucrative opportunities in the near future.

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Based on component, the solution segment held the largest share in 2018, accounting for around three-fourths of the global IoT security market, owing to rise in the adoption of this IoT security solution among various enterprises. However, the services segment is expected to portray the fastest CAGR of 33.9% during the forecast period, owing to surge in different types of services which include professional and managed services.

Based on industry verticals, the manufacturing segment dominated the market in 2018, contributing to nearly one-fourth of the global IoT security market, owing to rise in the number of IoT devices and to increase the security and privacy for the devices. However, the healthcare segment is expected to register the fastest CAGR of 36.2% during the study period, owing to its capabilities of accessing from anywhere across the world.

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The global IoT security market across North America held the largest share in 2018, contributing to more than one-third of the market, owing to rapid improvements in operational efficiency in IT infrastructures in the region. However, the market across the Asia-Pacific region is expected to register the fastest CAGR of 33.8% during the study period, owing to rise in digitalization in emerging economies such as China and India.

Major market players

IBM Corporation
Infineon Technologies AG
Intel Corporation
Broadcom
Cisco Systems Inc.
Fortinet Inc.
Gemalto NV
Palo Alto Networks Inc.
SecuriThings
Trend Micro Incorporated

Key questions answered in IoT Security Market research study:

o What is the market growth rate of IoT Security Market from 2020-2027?
o What will be the global market size of the market from 2020 to 2027?
o Who are the leading global players in the IoT Security Market?
o What are the current trends and predicted trends?
o What are the challenges faced in the IoT Security Market?
o Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?
o Which will be the anticipated growth rates for your own IoT Security Market economy altogether and also for every segment inside?
o Which will be the IoT Security Market application and types and forecast accompanied closely by producers?
o What are the conclusions of the IoT Security Market report?

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