Future of IoT Security Market to Grow at CAGR of 54.93% between 2015-2019

IoT involve the communication of multiple devices within a network, which enables data transmission between smart devices such as thermostats and sensors that are further connected to mobile devices. In IoT, embedded software, hardware devices, communication services, and IT services are interconnected, which helps in remote monitoring and managing of numerous interconnected devices efficiently. IoT plays a major role in smart homes, smart shopping, smart transportation, and smart healthcare.

With an increase in the number of 2G, 3G, and 4G networks, threat to data has increased. Increase in sophisticated and complex threats and hacking activities are expected to affect IoT security. IoT security solutions comprise hardware, software products, and managed security services that are used to monitor, detect, and prevent unauthorized access, misuse, or malfunction, or to disable/destroy a computer network. This provides end-users with a secure platform that will help them perform critical tasks.

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Technavio's analysts forecast the global IoT security market to grow at a CAGR of 54.93% over the period 2014-2019.

Covered in this report

The report covers the present scenario and growth prospects of the global IoT security market for the period 2015-2019. To calculate the market size, the revenue generated from the sales of IoT security software solutions used for network security and management is considered.

The report does not include individual device security revenue for market estimation.

The global IoT security market is segmented on the basis of the following:

Geography: Americas, EMEA, and APAC
End-user: utilities, automotive, healthcare, and others
Technavio's report, Global IoT Security Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, APAC, and EMEA; it also covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.

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Key regions

Americas
APAC
EMEA

Key vendors

Cisco Systems
Infineon Technologies
Intel
Siemens
Wurldtech
Other prominent vendors

Alcatel-Lucent
Axeda Machine Cloud
Broadcom
Checkpoint Technologies
Digi International
Ericsson
Eurotech
Fortinet
Gemalto
IBM
ILS Technology
Kore Wireless
NetComm Wireless
Numerex
Palo Alto Networks
Rockwell automation
Secure Crossing
Sierra Wireless
Sophos
Systech Solutions
Tofino
Ventus Wireless

Market driver

Need for regulatory compliances
For a full, detailed list, view our report

Market challenge

High implementation costs
For a full, detailed list, view our report

Market trend

Emergence of smart cities
For a full, detailed list, view our report

Key questions answered in this report

What will the market size be in 2019 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?

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This release was published on openPR.