Press release
IoT Security Market to reach USD 73.60 Bn by 2029, emerging at a CAGR of 22.1 percent and forecast 2023-2029
The new comprehensive report on the Global IoT Security Market provides a deep dive into the market's dynamics, opportunities, and challenges. Covering key components, solution types, services, application areas, deployment modes, and organization sizes, the report analyzes the market landscape using a robust research methodology. This methodology includes a thorough analysis of historical data, market trends, and future projections.
What are IoT Security Market Dynamics:
In the Internet of Things age, everything in a person's life is becoming digitally connected, including their homes, workplaces, cars, and even their bodies. Smart adjustments have been made to every connected object so that it can fully benefit from the advantages of being online. The adoption of IPv6 and the widespread use of Wi-Fi networks are driving the rapid expansion of the Internet of Things. As a result, the Internet of Things is drawing more cybercriminals. It's simple to reset a hijacked device and install fresh security patches. IoT devices are diverse, making it difficult for hackers to target them all with the same attack.
The right equipment is targeted by these hackers at the right time and place, preventing it from being reset, and compelling the owners to pay a ransom. This allows them to get beyond these barriers. The first half of 2021 saw a 100% surge in cyberattacks on internet-of-things (IoT) devices, according to Kaspersky research. The organization has identified more than 1.5 billion IoT risks, more than double the 639 million threats it found in the previous half-year.
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IoT Security Market Regional Insights:
The Asia Pacific region emerges as a dominant force in the IoT Security Market, anticipated to hold the largest market share by 2029. The region's major economies, including Singapore, Japan, China, India, and Australia, are creating a favorable ecosystem for IoT security suppliers due to initiatives promoting digitalization and high-speed networking.
In North America, a rapid CAGR growth is anticipated, driven by increased adoption of IoT technologies, coupled with heightened awareness about cybersecurity in both business and consumer sectors. The United States stands out as a leader in IoT implementation, characterized by a high adoption of advanced technologies and growing IoT security spending.
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What is IoT Security Market Segmentation:
by Component
Solutions
Services
by Solution
Identity and Access Management
Data Encryption and Tokenization
Intrusion Detection System/Intrusion Prevention System
Device Authentication and Management
Secure Communications
PKI Lifecycle Management
Distributed Denial of Service Protection
Security Analytics
Other Solutions
by Service
Professional services
Managed Services
by Type Network Security
Endpoint Security
Application Security
Cloud Security
Other Security Types
by Application Area
Smart Manufacturing
Smart Energy and Utilities
Connected Logistics
Smart Home and Consumer Electronics
Connected Healthcare
Smart Government and Defense
Smart Retail
Other Application Areas
by Deployment Mode
On-Premises
Cloud
by Organisation Size
Small and Medium Enterprises
Large Enterprises
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Who are IoT Security Market Key Players:
1. Microsoft (US)
2. AWS (US)
3. Google (US)
4. IBM (US
5. Intel (US)
6. Cisco (US)
7. Ericsson (Sweden)
8. Thales (France)
9. Allot (Israel)
10.Infineon (Germany)
11.Atos (France)
12.Magiccube (US)
13.Dragos Security (US)
14.Claroty(US)
15.Karamba Security (Israel)
16.Vdoo (JFrog) (US)
17.Forgerock (US)
18.Ordr (US)
19.Newsky (US)
20.Armis (US)
21.Mobileum(US)
22.Trend Micro (Japan)
23.Sophos (UK)
24.Checkpoint (US)
25.Fortinet (US)
Table of content for the IoT Security Market includes:
1. Global IoT Security Market: Research Methodology
2. Global IoT Security Market: Executive Summary
• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3. Global IoT Security Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4 . Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape (2022 to 2029)
• Past Pricing and price curve by region (2022 to 2029)
• Market Size, Share, Size and Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by growth and trend
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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