Internet of Things (IoT) Security Product Market: Smart Grid Application Segment Projected to Register a High CAGR During the Forecast Period
Future Market Insights forecasts revenue from the global IoT security product market to increase from US$ 12 Bn in 2017 to about US$ 48 Bn by 2027 end, representing a CAGR of 14.9% from 2017 to 2027. This increasing revenue growth is attributed to continuous launching of IoT security offerings and emergence of niche players in the market. Moreover, an increasing number of service providers is also supporting revenue growth of this market.
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