IoT Security Market Statistics 2020: Top Factors that are Leading the Industry around the Globe
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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.
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Major market players
• IBM Corporation
• Infineon Technologies AG
• Intel Corporation
• Cisco Systems Inc.
• Fortinet Inc.
• Gemalto NV
• Palo Alto Networks Inc.
• Trend Micro Incorporated
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.
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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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