The global IoT security reached a market size of USD 13.56 Billion in 2020 and is expected to register a CAGR of 26.5% during the forecast period.
Vancouver, BC -- (SBWIRE) -- 05/07/2021 -- Increasing number of malware and ransomware attacks and development and deployment of more efficient solutions is expected to drive growth of the global IoT security market growth to a significant extent during the forecast period. Increasing regulations for IoT security is expected to further propel the global IoT security market growth over the forecast period. Rising emphasis among governments of developing countries for development of smart cities is also expected to boost growth of the global IoT security market during the forecast period.
The study has been conducted on the basis of inputs from the industry leaders. Thus, a conscious effort to dive deep and unearth hard to find information pertaining to the growing market landscape and growth prospects over the next few years is clearly visible in the study. The market intelligence report further comprises of discussions about the major vendors operating in the IoT security space
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The report is an investigative study of the technological developments and product advancements, along with a regional analysis for each product and application offered in the market. The fundamental objective of the report is to give an insight into the workings of the IoT security industry. It provides an accurate and strategic outlook of the market with a thorough assessment of the segments and sub-segments of the market. It provides a panoramic view of the industry to offer a deeper understanding of the global industry.
Key Highlights of Report
In terms of revenue share, the consumer electronics segment is expected to lead among other end-user segments during the forecast period due to increasing adoption of IoT based consumer electronics globally.
Key players in the market include International Business Machines Corporation, Cisco Systems, Inc., Intel Corporation, Siemens AG, Infineon Technologies AG, Broadcom Inc., Fortinet Inc., Palo Alto Networks, Inc., Mocana Corporation, and Karamba Security Ltd.
Increasing adoption of IoT security solutions across various industries, including retail, healthcare, and logistics, and robust presence of international companies including Cisco Systems, Inc., Intel Corporation, and Broadcom Inc. in countries in North America are key factors expected to drive growth of the market in the region.
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Emergen Research has segmented the global IoT security market on the basis of type, component, end-use, and region.
Type Outlook (Revenue, USD Billion; 2021–2028)
Component Outlook (Revenue, USD Billion; 2021–2028)
Unified Threat Management
Identity & Access Management
Data Loss Protection
End-use Outlook (Revenue, USD Billion; 2021–2028)
Energy & Utilities
Logistics & Transportation
In June 2020, Cisco Systems, Inc. announced global launch of Cisco SecureX, which is a comprehensive yet embedded cloud-native security framework that includes Cisco Security solutions to streamline and improve the management of security by clients.
Detailed Regional Analysis covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Benefits of Buying the Global IoT Security Report:
Comprehensive analysis of the changing competitive landscape
Assists in decision making processes for the businesses along with detailed strategic planning methodologies
The report offers an 8-year forecast and assessment of the Global IoT Security Market
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends, and opportunities
Comprehensive regional analysis of the Global IoT Security Market
Extensive profiling of the key stakeholders of the business sphere
Detailed analysis of the factors influencing the growth of the Global IoT Security Market
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2028
Chapter 3. Key Insights
Chapter 4. IoT Security Market Segmentation & Impact Analysis
4.1. IoT Security Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
184.108.40.206. Increasing number of malware and ransomware attacks
220.127.116.11. Growing safety issues on critical infrastructure
18.104.22.168. Rising data vulnerability in IoT networks
22.214.171.124. Increasing regulations for IoT security.
4.2.3. Market restraints analysis
126.96.36.199. The high cost of IoT security solutions
188.8.131.52. Lack of awareness about IoT security solutions among end-users
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. IoT Security Market By Type Insights & Trends Revenue (USD Billion)
5.1. Type Dynamics & Market Share, 2020 & 2028
5.1.1. Cloud Security
5.1.2. Network Security
5.1.3. Application Security
5.1.4. Endpoint Security
Chapter 6. IoT Security Market By Component Insights & Trends Revenue (USD Billion)
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