IoT Security Market Size to Expand At 32% CAGR Through 2028 | Cisco Systems, IBM, Intel Corporation, Thales Group, Symantec Security Solutions, Siemens AG

Global IoT Security Market Report added at Market Study Report offers industry size, share, growth, trends and forecast analysis up to 2028. IoT Security Market Report also covers top key players, porters five forces analysis and market segmentation in detail. This report examines the global IoT Security market and provides information regarding the revenue for the period 2022 to 2028.

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The global IoT Security market was US$ 2.1 billion in 2021 and is expected to grow at a CAGR of 32% over the forecast period of 2022-2028.

The report also provides analysis of the key companies of the industry and their detailed, company profiles including Cisco Systems Inc., IBM, Intel Corporation, Infineon Technologies AG, Thales Group, Fortinet Inc., Karamba Security Ltd., Forgerock, Trustwave Holdings, Symantec Security Solutions, Siemens AG, MagicCube Inc., Mocana Corporation, Armis Security Ltd. And Palo Alto Networks.

Market Scope & Overview

The global IoT Security market study comprises comprehensive market analysis and insights across the key market segments and geography. The market report analyzes the global market for the historical period of 2019-2021 and the forecast period of 2022-2028 based on the product installed base, key forecasting factors impacting the market conditions, and major market developments happening in the market throughout the analysis period. practices primary and secondary research for conducting an insightful market study. Various market parameters such as macroeconomic conditions, market environment, government policies, and competitive landscape are thoroughly studied and taken into account while analyzing the market.

The global IoT Security market report also covers value chain and supply chain analysis that provides in-depth information about the value addition at each stage of the product. Market dynamics incorporated in the market study include drivers, restraints/challenges, trends, and their impact on the market throughout the analysis period. The market study also covers the pricing analysis of each product based on its types and regions.

The global IoT Security market includes a market share analysis and market structure overview with detailed company profiling of leading players with their financials, product offerings, major developments, etc. This enables, clients and report buyers to make strong, precise, and timely decisions.

State of Global Economy, COVID-19 Outbreak, and the Russo-Ukraine War Impact

The global economy experienced heavy headwinds, throughout 2019-2021, as some countries witnessed subdue growth, while other countries continued to grapple with economic slowdowns. Also, intensifying tension between the US and Iran along with the tightening sanctions on Venezuela by the US further hampered global economic growth in 2019. Moreover, the heightened trade war between the US and China and the rising trade uncertainty continued to exert adverse effects on the global economy. Amid all these, the COVID-19 outbreak at the end of the year 2019 in Wuhan, China further deteriorated global economic growth.

The COVID-19 pandemic has levied undue pressure across the majority of industries globally and has caused a major economic crisis in the US, India, Italy, UK, Germany, India, Japan, South Korea, the UK, and many others. Many of these countries had announced partial or complete nationwide lockdowns. The governments of several nations have called on people to shelter in place at home, travel restrictions, shut down local businesses, and prohibited social gatherings.

The rapid spread of the virus in the early month of 2020 followed by a second wave of COVID-19 caused a significant change in management strategies of the leading industries which have affected the market or industry at a significant level. Besides, the exit of the UK from the European Union earlier in 2020 and the Russo-Ukraine war in 2022 exacerbated the ever-heightened global uncertainty.

Key Market Segmentation

The global IoT Security market based on type, security type, deployment, enterprise size, application, end user, and region.

By Type

• Solutions
• Identity Access and Management
• Data Encryption & Tokenization
• Device Management
• Security Analytics
• Unified Threat Management (UTM)
• Others (Intrusion detection and prevention system, secure communication)

Services

• Professional
• Consulting and Implementation
• Training & Education
• Support & Maintenance
• Managed Security Services

By Security Type

• Network Security
• Endpoint Security
• Application Security
• Cloud Security
• Others (Web Security, Data Security)

By Deployment

• Cloud
• On-Premise

By Enterprise Size

• Small & Medium Enterprises (SMEs)
• Large Enterprises

By Application

• Smart Homes
• Smart Manufacturing
• Connected Logistics
• Smart Retail
• Others (Smart Education, Smart Meters)

By End User

• Consumer IoT
• Industrial
• Manufacturing
• Retail
• IT and Telecommunications
• BFSI
• Government & Defence
• Transportation & Automotive
• Energy & Utilities
• Healthcare
• Others (Media & Entertainment, etc.)

By Region

North America, US, Canada, Latin America, Brazil, Mexico, Rest of Latin America, Western Europe, Germany, UK, France, Spain, Italy, Benelux, Nordic, Rest of Western Europe, Eastern Europe, Russia, Poland, Rest of Eastern Europe, Asia Pacific, China, Japan, India, South Korea, Australia, ASEAN (Indonesia, Vietnam, Malaysia, etc.), Rest of Asia Pacific, Middle East & Africa, GCC, South Africa, Turkey and Rest of the Middle East & Africa.

Questions And Answers: Global IoT Security Market

Q1. What is the CAGR that the IoT Security Market is expected to register through the projected duration?

Answer: The IoT Security Market is likely to register a CAGR of 32% over the forecast period.

Q2. What was the remuneration of the IoT Security market in the year 2021?

Answer: The overall IoT Security market acquired a revenue share of USD 2.1 billion in 2021.

Q3. Which Are the Key Players in Global IoT Security Market?

Answer: Cisco Systems Inc., IBM, Intel Corporation, Infineon Technologies AG, Thales Group, Fortinet Inc., Karamba Security Ltd., Forgerock, Trustwave Holdings, Symantec Security Solutions, Siemens AG, MagicCube Inc., Mocana Corporation, among others are the leading players in worldwide IoT Security Market.

For More Details on This Report: https://www.marketstudyreport.com/reports/global-iot-security-market-analysis-and-forecast-2019-2028

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