Global Internet of Things Security Market Anticipated to Grow Steadily at a CAGR of 47.91% by 2021

In the last few years, the Internet of Things (IoT) has gained wide acceptance in the field of wireless networking. IoT has enabled modern networking and communication among people and things and due to the expansion of the IoT market, protecting the company's data and IP is more important than ever. A recent forecast report, analyzing the ever-increasing global market and titled “Global Internet of Things Security Market 2017-2021 forecast” has been added to vast research studies catalog of Market Research Hub (MRH). This study provides a precise analysis of the market in terms of revenue and emerging market trends prompting the market growth. According to the study findings, the global IoT security market is all set to grow at a remarkable CAGR of 47.91% during the period 2017-2021.

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This report also includes an up to date analysis and forecasts for numerous market segments and major geographical regions. Major regions highlighted in the report include APAC, Americas and EMEA. In terms of geography, APAC region is projected to govern the global market in the coming years; one of the major reason for this growth is the high adoption of IoT security solutions among enterprises. Furthermore, the report states that one of the major factors such as increasing adoption of cloud-based services will surely drive the growth prospects for the global IoT security market in the forthcoming years. Currently, a multitude of organizations such as banks and healthcare organizations are increasingly shifting from the conventional method of storing confidential data towards the cloud technology.

In the next section, the report provides a brief introduction to the evolution of IoT along with the detail of components, value chain and applications. IoT refers to the communication between connected within a network and most of the personal data & IP are stored on connected devices, due to this hackers have very much potential to completely limit the organization’s performance. In that case, using security software that can boost and automates the network monitoring process and can be easily integrated with IoT applications is very much in demand. Moving further, to calculate the market size, the report considers the revenue generated from the sales of network security solutions, including hardware, software and services. Also, a section covering the details of current market dynamics is mentioned in the report. Major market trends are:

• Growing shift toward multifactor verification
• Increasing acceptance of IoT security solutions in healthcare sector
• Emergence of integrated security solutions

Major challenges associated with the market along with key drivers are also highlighted. Moreover, a list of major companies operating in the market is profiled:

• Cisco
• Infineon Technologies
• Intel
• IBM
• Wurldtech Security Technologies
• Symantec

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Some other prominent vendors are Kore Wireless, Fortinet, Digi International, Rockwell automation, Systech Solutions, Nokia, PTC (Axeda) etc.

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This release was published on openPR.