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IoT Security 2021 Global Market Key Players - Cisco Systems Inc., IBM Corporation, Intel Corporation, Thales Group (Gemalto), Forgerock, Infineon Technologies AG-Analysis And Forecast To 2028

12-03-2021 08:46 AM CET | IT, New Media & Software

Press release from: Fortune Business Insights

IoT Security Market 2021-2028

IoT Security Market 2021-2028

IoT Security Market 2021-2028

New study report " IoT Security Market 2021 Global Market Opportunities, Challenges, Strategies, and Forecasts 2028" has been added to Fortune Business Insights.

Market Overview-

The global IoT security market size is expected to reach USD 20,776.1 million by 2027, exhibiting an excellent CAGR of 32.3 % during the forecast period. The increasing implementation of blockchain technology for improved security will have a massive effect on the growth of the market, states Fortune Business Insights, in a report, titled “IoT Security Market Size, Share & COVID-19 Impact Analysis, By Component (Software, and Services), By Enterprise Size (SMEs, and Large Enterprises), By Deployment (Cloud and On-Premise), By Product Type (Network Security, Endpoint Security, Application Security, Cloud Security, and Others), By Application (Smart Homes, Smart Manufacturing, Connected Logistics, Connected Healthcare, Smart Retail, and Others), By End-use Industry (Consumer IoT, Manufacturing, Retail, IT and Telecommunication, BFSI, Government, Transportation & Automotive, Energy & Utilities, Healthcare, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 2,221.0 million in 2019.

The coronavirus crisis has disrupted the supply chain of every industry around the world. We understand that this health emergency has negatively impacted various sectors across the globe. Rising support from governments and several companies can help in the fight against this highly infectious virus. There are some industries that are struggling and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic.

Key Players-

The key players have an essential part to play in fostering the product improvement as per the demand of the consumers with ample supply in particular regions. The well-known brands are also acknowledged and aware of the potential links with the global IoT Security Market 2021-2028 for showing a prominent place to the key players in the market.

Top Key Players in this market are:

Cisco Systems Inc. (California, United States)
IBM Corporation (New York, United States)
Intel Corporation (California, United States)
Thales Group (Gemalto) (La Défense, France)
Forgerock (California, United States)
Infineon Technologies AG (Neubiberg, Germany)
Mocana Corporation (California, United States)
NortonLifeLock Inc. (Arizona, United States)
Allot Ltd. (Hod Hasharon, Israel)
Fortinet, Inc. (California, United States)
New Sky Internet Limited (Hong Kong)
Others


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Market Driver:

Rising Security Concerns Associated with Malware Attacks to Augment Growth

The growing malware attacks pertaining to IoT devices is expected to fuel demand for IoT security in the forthcoming years. For instance, Telnet, Mirai, and denial-of-service attacks (DDoS) have become prevalent. The Mirai malware can penetrate and attack enterprise IoT devices such as digital signage television sets (TV) or wireless presentation systems. The increasing need for security to prevent DDoS attacks by hackers will enable speedy expansion of the market. Besides, the escalating malware attacks will drive the IoT network security solutions among organizations.

Shift towards Smart Connected Devices to Elevate Market Amid Coronavirus

The inclination towards machine learning, artificial intelligence, will influence the healthy growth of the market during the coronavirus. The improvements in controlled vehicles and devices will simultaneously incite the development of the market. Moreover, the surging demand for wirelessly connected devices in the healthcare industry can have a tremendous impact on the market amid COVID-19. Besides, AI can assist in getting accurate data of COVID-19 symptoms in individuals, thus Promoting the scope of the market.

Regional Analysis:

Rising Government Initiatives to Propel Market in Europe

The IoT security market in Europe is expected to exhibit a rapid CAGR in the forthcoming years. The growth in the region is attributed to the rising government support for robust security integrated into wireless products. For instance, in October 2018, the government published the code of practice for consumer IoT security. Moreover, the announcement of regulatory proposals by the government will further foster the healthy growth of the market. For instance, in May 2019, the government of the U.K introduced a consultation on regulatory proposals regarding consumer connected devices security.

Key Development:

January 2020: Mocana Corporation announced that it has collaborated with automotive-grade Linux (AGL), a Linux Foundation open source project to drive the security of connected and autonomous vehicles.

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Table of Content:

1.Introduction

2.Key Takeaways

3.Market Dynamics

4.Competition Landscape

5.Key Market Insights and Strategic Recommendations

6.Profiles of Key Players (Provided for Key 10 Players only)

7.Primary Interview Responses

8.Annexure / Appendix

9.Companies Analyzed (In order to estimate the market size and/or understanding the ecosystem)

Continue….

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About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

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About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

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