IoT Security Market Set to Reach $59.16 Billion by 2029

Meticulous Research®-a distinguished leader in global market research-has unveiled its latest report titled "IoT Security Market by Component (Solution, Services), Type (Network Security, Cloud Security), Deployment Mode, Organization Size, Application (Smart Manufacturing, Smart Retail), End User (Manufacturing, Retail, and Others) - Global Forecasts to 2029".

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In this insightful publication, Meticulous Research® forecasts a robust growth trajectory for the global IoT security market, projecting a remarkable CAGR of 21.2% from 2022 to 2029, with an anticipated market value of $59.16 billion by 2029. This growth is underpinned by the increasing proliferation of IoT deployments across diverse sectors, coupled with a surge in ransomware attacks targeting IoT devices and the establishment of dynamic IoT security regulations. Moreover, the heightened demand for security solutions in developed nations presents substantial growth prospects for the IoT security market.

However, the rise of new IoT threat variants and the adverse impacts of the COVID-19 pandemic on the global economy pose challenges to market expansion. Additionally, factors such as shadow IoT devices, misconceptions, and a lack of awareness surrounding IoT security solutions impede adoption rates, hindering market growth.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/iot-security-market-5254

The comprehensive report segments the global IoT security market based on components (solutions, services), types (network security, endpoint security, application security, cloud security, others), deployment modes (on-premises, cloud-based), organization sizes (small & medium enterprises, large enterprises), applications (smart manufacturing, smart retail, smart energy management, connected cars, connected logistics, connected healthcare, smart supply chain, others), and end-use industries (manufacturing, government & public, retail, consumer electronics, automotive, healthcare, energy & utilities, supply chain & logistics, transportation, and others). The report also conducts a thorough analysis of industry competitors and evaluates the market at both regional and country levels.

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Furthermore, the report addresses key questions, such as the identification of high-growth market segments, historical market data, market forecasts, major drivers, restraints, opportunities, competitive landscape, recent developments, strategies adopted by major players, geographic trends, high-growth countries, and the competitive positioning of local emerging players.

Key Players:
The key players operating in the IoT security market include Cisco Systems, Inc., Forescout Technologies, Inc., Fortinet, Inc., Palo Alto Networks, Inc., Rapid7, Inc., Armis, Inc., Microsoft Corporation, Entrust Corporation, Karamba Security Ltd., ForgeRock, Inc., IBM Corporation, Checkpoint Software Technologies, Ltd., Allot Communications Ltd., JFrog, Inc., Broadcom, Inc., and PTC, Inc.

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Key questions answered in the report:
• Which are the high-growth market segments in terms of the component, type, deployment mode, organization size, application, end user, and countries?
• What is the historical market for IoT security across the globe?
• What are the market forecasts and estimates from the period of 2019-2029?
• What are the major drivers, restraints, and opportunities in the global IoT security market?
• Who are the major players in the global IoT security market, and what shares of the market do they hold?
• How is the competitive landscape?
• What are the recent developments in the global IoT security market?
• What are the different strategies adopted by the major players in the market?
• What are the geographic trends and high growth countries?
• Who are the local emerging players in the global IoT security market, and how do they compete with the other players?

To access a sample copy of the report, click here: Download Sample Copy
https://www.meticulousresearch.com/download-sample-report/cp_id=5254

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This release was published on openPR.