Global IoT Security Market to Exhibit 54.93% CAGR as Threat of Security Breaches Rises

A recent market study added to the comprehensive research report database of MarketResearchReports.biz presents an expansive overview of the global market for Internet of Things (IoT). The report states that the market will exhibit an exponential 54.93% CAGR over the duration 2014-2019. The report is titled “Global IoT Security Market 2015-2019.”

IoT enables transmission of data between a set of smart devices, such as sensors and thermostats, connected in a network, which is then communicated with mobile devices interconnected with the network. A typical setup of IoT includes elements such as hardware devices, embedded software, and the facility of integrating several types of IT services and communication systems. IoT systems help in remote management and monitoring of interconnected devices and play major role in smart shopping, smart homes, smart healthcare, and smart transportation.

With the continuously widening expanse of 2G, 3G, and 4G networks across the globe, the threat to digital data is also rising. A rising number of highly sophisticated and complex data hacking incidences has rocked the digital world in the past few years, bringing the issue of data security to the forefront.

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As IoT sees rising adoption across the globe, the threat of IoT systems’ security being compromised will also rise. To protect IoT systems from any such threats, the market for IoT security serves via a variety of software products, hardware, and managed security services that detect, monitor, and prevent attempts at misuse of data, malfunction of data records, unauthorized access, and destruction or deactivation of a network/network element.

The report states that with the mounting volumes of digital data being communicated between devices and people, governments are taking strict measures to secure network from viruses and hackers by establishing stringent regulations and policies.

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The report presents a detailed overview of the key elements of the market on the basis of a global as well as a regional scenario, and presents an analysis of the major factors, such as drivers, challenges, major trends, and rules and regulations, that will have a significant impact on the overall development of the global IoT market over the report’s forecast period.

The report segments the global IoT market on the basis of two criteria: geography and end user.

On the basis of geography, the market has been segmented into Americas, EMEA, and APAC. Based on key end-users of IoT security systems, the market has been segmented into healthcare, automotive, utilities, and others.

The report also gives thorough insight into the competitive landscape of the global IoT maket, wherein detailed business profiles, SWOT analysis, major opportunities and threats for some of the key vendors in the market have been included.

Some of the major vendors in the market are Infineon Technologies, Cisco Systems, Wurldtech, Siemens, Checkpoint Technologies, Axeda Machine Cloud, Alcatel-Lucent, Intel, Broadcom, ILS Technology, IBM, Rockwell automation, Eurotech, Ericsson, Sierra Wireless, Secure Crossing, and Systech Solutions.

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This release was published on openPR.