IoT Security Market Emerging Trends, Growth Drivers, Opportunities, Leading Companies, and Future Outlook

IoT Security Market By Solutions (IAM, Data Encryption and Tokenization, IDS/IPS, Device Authentication, Secure Communication Protocols, PKI Certificate Lifecycle Management, DDOS, Security Analytics, Virtual Firewall) - Global Forecast to 2029.
The size of the global IoT security market [https://www.marketsandmarkets.com/Market-Reports/iot-security-market-67064836.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=softwaredefineddatacentersddcmarket] is expected to increase at a Compound Annual Growth Rate (CAGR) of 18.4% from USD 24.2 billion in 2024 to USD 56.2 billion by 2029. The market for IoT security is being driven by the growth in data volume brought about by 5G. As more devices are linked and 5G networks provide faster speeds and lower latency, data traffic is growing exponentially. Because it becomes increasingly difficult to monitor, analyze, and defend against cyber attacks, such large data poses new security challenges. To solve this, strong IoT security solutions are necessary to protect private information, stop illegal access, and guarantee network integrity.

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Based on the Offerings, the Solutions segment accounts for the highest market size during the forecast period.

Organizations across industries experience the benefits of IoT, the complexity and vulnerability of their networks increase exponentially. For this, Providers such as IBM, Microsoft, Check Point, Fortinet, Atos offer IoT security solutions such as device authentication, data encryption, secure communication protocols, and advanced threat detection. These solutions are beneficial to prevent unauthorized access, data breaches, and other cyber attacks. Comprehensive security measures are necessary to safeguard sensitive data, protect critical infrastructure, and maintain operational resilience. The dynamic nature of the IoT landscape demands continuous adaptation and innovation in security solutions to counter evolving threats.

Based on the Services, the Professional services accounts for the highest market size during the forecast period.

Organizations increasingly rely on expert assistance for IoT asset protection Professional service providers offer comprehensive solutions, from risk assessments to ongoing monitoring, helping organizations mitigate security risks and comply with industry regulations. The demand for professional guidance in implementing and managing IoT security solutions increases because of the complexities in IoT ecosystems. The need for tailored security solutions, the intricacy of IoT systems, and the lack of in-house expertise that drive this demand. Professional services, including consulting, integration, and managed services, are crucial for organizations tackling IoT security challenges. The increasing frequency of ransomware attacks on IoT devices and concerns about critical infrastructure further highlight the need for professional services.

By region, North America accounts for the highest market size.

North America is one of the main geographic contributors to the global lot security market, even when it comes to market size. Economically strong nations like the US and Canada, the region offers the most substantial and cutting-edge technological infrastructure. One of the main factors driving the lot security market's growth in North America is the existence of major regional players such as Microsoft, Fortinet, IBM, and others. Government agencies such as National Institute of Standards and Technology (NIST) are investigating loT security technology on a number of fronts, including protocols, security assurances, use cases, applications, and current services.

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Unique Features in the IoT Security Market

IoT security must handle millions of varied devices. These range from constrained sensors with tiny memory to full Linux gateways. Security tools must adapt to hardware limits, protocols, and power constraints. Traditional IT security doesn't scale this way.

IoT uses many protocols (MQTT, CoAP, Zigbee, BLE, LoRaWAN, Modbus). Each has different security gaps. A one-size-fits-all solution won't work. Solutions need protocol-aware controls and visibility.

Many IoT systems process data at the edge, not in a data center. This reduces latency but increases attack surface. Security must run where the data is collected, not just in the cloud.

IoT devices often can't be patched easily once deployed. Some lack remote update mechanisms. This forces security designs that assume unpatched devices will persist. Detection and segmentation become critical.

Major Highlights of the IoT Security Market

The IoT security market is expanding fast due to rapid IoT adoption across enterprise and consumer sectors. Connected sensors, industrial equipment, smart vehicles, and home devices increase attack surfaces. Growth is driven by regulatory pressure, high-cost breaches, and digital transformation spending.

IoT environments face diverse threats, including botnets, supply-chain attacks, firmware tampering, and lateral movement from compromised devices. New vulnerabilities emerge as devices proliferate, especially where default credentials and weak update mechanisms persist.

Key innovations include device identity and authentication, secure firmware update frameworks, behavioral anomaly detection, and edge-centric security processing. AI and ML are increasingly embedded to detect unusual device patterns. Zero trust models are becoming standard for IoT access control.

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Top Companies in the IoT Security Market

Key Players Microsoft (US), Fortinet (US), AWS (US), IBM (US), Intel (US), Cisco (US), Thales Group (France), Infineon (Germany) , Allot (Israel), Atos (France), Checkpoint (US), Palo Alto Networks (US), Mobileum (US), Entrust (US), NXP Semiconductors (Netherlands), and Kaspersky (Switzerland), MagicCube (US), Claroty (US), Ordr (US), Armis (US), Nozomi Networks (US), Keyfactor (US), Particle Industries (US), Karamba Security (Israel), and Forescout (US) are the key players and other players in the IoT security market.

Microsoft (US)

Microsoft is a multinational technology company which offers software, hardware, and services. Its product portfolio includes software products, hardware, enterprise solutions, gaming, and cloud services. Windows operating system, the Microsoft 365 productivity suite, and the Azure cloud platform are the flagship products of Microsoft. In IoT security, Microsoft offers solutions through its Azure platform. Azure IoT hub provides secure communication with IoT devices, while Azure IoT Edge uses cloud intelligence and analytics to edge devices by AI processing. The company operates in over 190 countries, with data centers in multiple regions across the globe including North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The company caters to various industries including financial services, healthcare, manufacturing, energy, government, retail, telecommunications and other industries.

Fortinet (US)

Fortinet is a cybersecurity solutions and services company which focuses on providing security for networks, endpoints, and cloud environments. The company has a global presence with a strong foothold in North America, Europe, and Asia Pacific.Fortinet offers its solutions to large enterprises and SMEs in various industries such as healthcare, financial services, retail, manufacturing, power, oil and gas, technology, and government. It develops and sells security soutions such as firewalls, endpoint security and intrusion detection systems. Fortinet's products include network security, security access service edge (SASE), enterprise networking, security operations, cloud security, user and device security, application security, and threat response. In IoT security, the FortiGuard Attack Surface Security Service monitors the security posture and identifies IoT device risks. FortiNAC provides network access control for automated device management.

AWS (US)

AWS is a leading provider in the IoT security market, offering robust cloud-based security solutions for IoT devices and networks. Their services include real-time threat detection, data protection, and scalable security frameworks to safeguard connected devices across industries.

Thales Group (France)

Thales Group is a leading provider of IoT security solutions, specializing in protecting connected devices and networks. They offer advanced encryption, authentication, and secure data management technologies, ensuring the integrity and privacy of IoT systems across various industries.

Allot (Israel)

Allot (Israel) is a leading provider of IoT security solutions, offering advanced protection against cyber threats targeting connected devices. Their platform delivers real-time threat detection, network visibility, and policy enforcement, ensuring the safety and privacy of IoT networks across industries.

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