2025-2034 IoT Security Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights

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IoT Security Market Size Growth Forecast: What to Expect by 2025?
The IoT security market has seen an extraordinary expansion in its size over recent years. The market is predicted to surge from $8.7 billion in 2024 to an impressive $11.36 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 30.6%. This growth during the historic period can be credited to factors such as the rise in cybersecurity threats, the widespread adoption of IoT devices, strict regulatory compliance norms, notorious security violations, and effective integration with the prevailing IT infrastructure.

How Will the IoT Security Market Size Evolve and Grow by 2029?
In the coming years, the IoT security market is projected to undergo a rapid expansion. The market, driven by an impressive compound annual growth rate (CAGR) of 33.4%, will escalate to $35.99 billion in 2029. Factors contributing to this significant increase in the forecast period include the extension of IoT in crucial infrastructure, the evolving complexity of IoT systems, the focus on zero trust security models, as well as concerns over privacy and data protection, and the transition towards cloud-based IoT security. The period in view will also witness major trends such as security concerns in supply chain, incident response preparation, the incorporation of security into the development lifecycle, quantum-safe security solutions, and establishing cooperative security ecosystems.

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What Drivers Are Propelling the Growth of IoT Security Market Forward?
The increasing emergence of smart cities is projected to spur the advancement of the IoT security market. With a growing population, the urgency for sustainable development has become a primary concern. Cities equipped with the capacity to deal effectively with high volume traffic, manage population density, and provide improved safety for citizens epitomize smart cities. This can be achieved by integrating IoT devices within such cities. This process entails interconnecting devices, safeguarding data exchanges, establishing a recurring pattern and then furnishing a final solution. Rapid responses to threats are made possible through remotely-coupled CCTV and the utilization of automated incident detection, which involves the continual monitoring of traffic conditions and detecting potential incidents or areas of traffic congestion by computers. Crowd management solutions enabled by IoT can assist in overseeing and handling large groups of people in any form of gathering. Safe driving conditions and the reduction of crime rates can be achieved through smart street lighting. This escalating need for security within smart cities amplifies investments going into the IoT Security Market. For example, a June 2022 report from the SmartAmerica Challenge, an initiative by the US-based National Institute of Standards and Technology (NIST), stated that city administrations would allocate a staggering $41 trillion within the coming 20 years to enhance their infrastructure, inclusive of smart city projects. Consequently, the rise in smart cities serves as a pivotal driver of the expansion of the IoT security market.

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Which Emerging Trends Are Transforming the IoT Security Market in 2025?
The leading corporations in the IoT security market are focusing on the launch of innovative solutions such as Cybersecurity platforms to secure a competitive edge. Cybersecurity platforms are a unified solution intended to consolidate security visibility, analysis, and controls across numerous security layers and data resources, boosting protection, scalability, and performance. For example, Trend Micro Inc., an IT security firm based in the USA, unveiled Trend Vision One in May 2023. Trend Vision One is a coordinated cybersecurity platform that empowers organizations to anticipate, resist, and quickly recover from threats with a more powerful security team in place. The Trend Vision One platform is IoT security friendly and is developed to offer expansive protection in various areas, including operational technology (OT) that comprises IoT devices. The platform backs hybrid environments and provides solid security across endpoints, servers, cloud services, and networks. It also boasts a wide array of original security sensors for extensive protection against diverse threats.

What Are the Key Segments in the IoT Security Market?
The IoT security market covered in this report is segmented -

1) By Type: Network Security, Endpoint Security, Application Security, Cloud Security, Other Types
2) By Component: Solution, Services
3) By Application: Healthcare And Life Sciences, Infrastructure And Cities, Industrial System And Sensors, Smart Home And Consumer, Transport And Urban Mobility

Subsegments:
1) By Network Security: Firewalls, Intrusion Detection And Prevention Systems (IDPS), Virtual Private Networks (VPNs), Network Encryption
2) By Endpoint Security: Anti-Malware Solutions, Device Authentication And Access Control, Endpoint Detection And Response (EDR)
3) By Application Security: Application Testing (Static And Dynamic), Runtime Application Self-Protection (RASP), Secure Application Development
4) By Cloud Security: Cloud Access Security Brokers (CASB), Cloud Data Encryption, Identity And Access Management (IAM) For Cloud
5) By Other Types: Identity Management And Authentication, Data Privacy And Protection Solutions, Security Analytics And Threat Intelligence

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Who Are the Key Players Shaping the IoT Security Market's Competitive Landscape?
Major companies operating in the IoT security market include AT&T Inc., Huawei Technologies Co. Ltd., Siemens AG, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Verizon Enterprises Solutions LLC, HP Enterprise Company LLC, Infineon Technologies AG, Fortinet Inc., Gemalto NV, ARM Holdings plc, Check Point Software Technologies Ltd., PTC Inc., Forgerock Inc., Trustwave Holdings Inc., NSIDE Secure Inc., Allot Communications Ltd., Armis Inc., Sophos Group plc, Broadcom Inc., Wurldtech Security Inc., Centri Security Inc., SecuriThings, Mocana Corporation, Newsky Security Inc., NETCOM On-Line Communication Services Inc., Palo Alto Networks Inc., Rapid7 Inc., SimpliSafe Inc., Cradlepoint Inc., SonicWall Inc., Medigate Corporation, CyberMDX Healthcare Cybersecurity, Entrust Datacard Corporation, Microsoft Corporation, Amazon Web Services, Google LLC, Ericsson AB, Thales Group, Atos SE

What Geographic Markets Are Powering Growth in the IoT Security Market?
Asia-Pacific was the largest region in the Internet of Things IoT security market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global IoT security market share report during the forecast period. The regions covered in the IoT security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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