The global IoT security market is expected to reach a market size of USD 88.09 Billion by 2028 and register a high revenue CAGR, according to latest analysis by Emergen Research. 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 Global Iot Security market drivers and restraints Market report provides vital information that prepares market players to give fierce competition to their toughest competitors based on growth, sales, and revenue, among other essential factors. 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 market drivers and restraints space
Cybercriminals attack IoT devices and take advantage of username and password, and bypass dynamic code security issues. Currently, automation is being increasingly deployed across various sectors due to the rising Internet of Things trend. The Internet of Things is generally deployed for critical infrastructure projects, including energy, power, and other essential services, and automation of such projects is currently in process. Automation has rendered networks vulnerable to cyber-attacks, and far more effective security is required. Increasing insecurity of vital systems has become the primary concern of all government agencies. In addition, rising data vulnerability in IoT networks and demand for more efficient security and further development of software and solutions for this purpose is expected to boost global IoT security market growth over the forecast period. Increasing regulations related to IoT security is expected to augment IoT security market growth over the forecast period. For instance, following consultations that began in May 2019, the United Kingdom government intends to mandate a minimum of three security standards for consumer IoT devices, as announced in January 2020.
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Competitive Landscape and IoT Security Market Share Analysis
The report elaborates on various national and international business development prospects and explains the competitive landscape of the global IoT Security market. The market size estimation and forecasts have been detailed in this report. The authors have studied the historical background of the IoT Security market, keeping in mind the organic and inorganic growth prospects and threats for the market. Thus, the latest report offers precise estimates of the global market size for the forecast period.
The reports cover key developments in the IoT security market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, partnerships and collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from IoT security market are anticipated to lucrative growth opportunities in the future with the rising demand for IoT security in the global market. The market is expected to grow at a significant CAGR during the forecast period.
The major companies Covered in the report are:
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
Highlights of Global IoT Security Market Report
- Examines the IoT Security industry prospects and quickly compares historical, current, and projected market figures.
- This report examines growth constraints, market drivers and challenges, and current and prospective development prospects.
- Key market participants are evaluated based on various factors, including revenue share, price, regional growth, and product portfolio, to demonstrate how market shares have changed in the past and are expected to change in the future.
- Describes the expansion of the global high purity isobutylene market across various industries and geographies. This allows players to concentrate their efforts on regional markets with the potential for rapid growth shortly.
- Discuss the global, regional, and national ramifications of COVID-19.
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The report comprises an exhaustive overview of the IoT Security market, focusing on its leading players and their lucrative business expansion initiatives.
Segments Covered in this report are:
- Type Outlook (Revenue, USD Billion; 2021–2028)
- Cloud Security
- Network Security
- Application Security
- Endpoint Security
- Others
- Component Outlook (Revenue, USD Billion; 2021–2028)
- Services
- Managed Services
- Professional Services
- Solutions
- Encryption
- Unified Threat Management
- Analytics
- Identity & Access Management
- Data Loss Protection
- Others
- Services
- End-use Outlook (Revenue, USD Billion; 2021–2028)
- Retail
- Manufacturing
- Defense
- Government
- Consumer Electronics
- Energy & Utilities
- Logistics & Transportation
- Others
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Geographical Scenario:
The global IoT Security market has been categorized into several important geographical regions. In this section, authors of the report have studied the presence of the global IoT Security market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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