IoT security market is expected to grow US$ 30.9 billion by 2025 from US$ 7.28 billion in 2016

shubham45 June 10, 2022

6 min read

Network security market comprise largest market share among all five security types and is expected to continue its dominance throughout the forecast period. The demand for network security solutions is highly influenced by rising demand for security solutions for the cloud technology. Also, intensive use of virtualization has raised the vulnerability of networks to certain threats such as, malware or defective processes that are reducing the efficiency of the hypervisor.

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Major Market Players

Cisco Systems, Inc.; IBM Corporation; Infineon Technologies AG; Intel Corporations; Symantec Corporation; ARM Holdings; NXP Semiconductors NV; INSIDE Secure S.A.; Gemalto N.V.; Trend Micro Inc.; Synopsys Inc; ESCRYPT – Embedded Security GmBH; Microchip Technologies Inc.; and Palo Alto Networks Inc. are a few leading players in the market, according to the IoT security market analysis.

Key trend which will predominantly effect the market in coming year is growing appearance of Blockchain in IoT security market. Blockchain technology is capable of being used in tracking billions of connected devices, enable the processing of transactions and coordination between devices, allow for significant savings to IoT industry manufacturers. This decentralized approach is anticipated to eliminate single points of failure, creating a more resilient ecosystem for devices to run on. The cryptographic algorithms used by blockchain, is expected to make consumer data more private. The blockchain in IoT can be applied to connected vehicles, smart appliances and supply chain sensors.

Market Segmentation

Global IoT Security Market - By Types
Network Security
End-point Security
Cloud Security
Application Security
Others

Global IoT Security Market - By Solution
Threat Analysis
Identity Access Management
Data Loss Protection
Encryption
Dispatch & Incident Response
Distributed Denial of Service Protection
Others

Global IoT Security Market - By Applications
Smart Home
Connected Car
Information & Communication Technology
Smart Factories
BFSI
Smart Retail
Smart Healthcare
Smart Transportation
Wearable
Others

IoT Security market by application is segmented as smart home, connected car, information & communication technology, smart factories, BFSI, smart retail, smart healthcare, smart transportation, wearable and others. The growing security concern in BFSI industry sector in order to safeguard user identity and theft of financial data are some of the trends contributing to the growing IoT security market. Almost all the end-user application segment are gradually moving towards digitalization and are becoming more friendly to smart devices and internet network, which is rising the security concern and use of IoT security solution.

Regional Analysis Covered in this report:

North America [United States, Canada]

Europe [Germany, France, U.K., Italy, Russia]

Asia-Pacific [China, Japan, South Korea, India, Australia, China Taiwan, Indonesia, Thailand, Malaysia]

Latin America [Mexico, Brazil, Argentina]

Middle East & Africa [Turkey, Saudi Arabia, UAE]

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Competitive Outlook

The overall market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the IoT security industry.

Table of Content – Analysis of Key Points

Chapter 1. Executive Summary

Chapter 2. Global Market Definition and Scope

Chapter 3. Global Market Dynamics

Chapter 4. Global Market Industry Analysis

Chapter 5. Global Market, by Type

Chapter 6. Global Market, by Application

Chapter 7. Global Market, Regional Analysis

Chapter 8. Competitive Intelligence

Chapter 9. Research Process

Continued…

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