Global Internet of Things (IoT) Security Market anticipates Steady Growth between 2018- 2025
- Press Releases
- 12-November-2019
The report available on Decisiondatabases.com titled as “Global Internet of Things (IoT) Security Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast” provides an analysis on the market flow and the market on the basis of historical studies and an evaluation of future prospects based on a comprehensive research. The global internet of things security market is anticipated to touch USD 53 BN by 2025 with a CAGR of 30% from 2019-2025.
IoT or internet of things refers to the communication between connected devices in a network. Data is transmitted between smart devices such as thermostats and sensors which are further connected to mobile devices. The interconnection of devices, services, software and IT services makes the operations of IoT devices efficient. IoT also helps in remote monitoring, management of numerous devices, creation of smart homes, smart shopping, smart transportation and smart healthcare. However, with an increase in the 2G, 3G and 4G networks the threat to data on the internet has increased. Increase in the sophisticated and complex hacking activities has also impacted the threat to data thus boosting the IoT security market globally. The IoT security solutions include hardware and software products that are used to monitor, detect and prevent unauthorized access and misuse. This provides the customers a secure platform to perform critical tasks.
The factors driving the internet of things security market are the rising security concerns for critical infrastructure, the need to adhere to regulatory compliances, growth of social media and the diversified IoT reach. However, the restraints faced by the internet of things security market globally are the lack of technical information about non-traditional infrastructure and the lack of awareness about internal threats.
By type, the global internet of things security market is classified into network security, endpoint security, application security and cloud security out of which network security has emerged to be the leading segment of this classification. On the basis of solutions, the global internet of things security market is classified into identity and access management (IAM), threat intelligence, encryption, unified threat management (UTM), data loss protection (DLP), intrusion detection/prevention system (IDS/IPS), distributed denial of service (DDoS) protection, network forensics and device management. Identity and access management (IAM) has been observed to have emerged as the leading segment of the classification on the basis of solutions.
Professional services and managed services are the two types of services into which the global internet of things security market is classified into.
The applications into which the global internet of things security is utilised in are listed as wearables, building and home automation, supply chain management, patient information management, energy and utilities management, customer information security, asset optimization, manufacturing process management, communication technology management and telematics. On the basis of applications, the leading segment has emerged out to be the manufacturing process management.
By vertical, the global internet of things security is classified into banking, financial services and insurance (BFSI), retail, manufacturing, healthcare, transportation and logistics, government and defence, energy and utilities and telecom and IT. Banking, financial services and insurance has been deduced as the leading segment on the basis of the classification by the vertical.
By geography, North America, Europe, Asia Pacific, Latin America, Middle East and Africa are the regions over which the internet of things security market is studied. North America has emerged as the leading region in this segmentation.
The key players of the global internet of things security market profiled in the report are Cisco Systems Inc., IBM Corporation, Infineon Technologies, Intel Corporation, Symantec Corporation, Arm Holdings PLC, Check Point Software Technologies Ltd., Trend Micro, Gemalto NV, Sophos Group PLC, Inside Secure and Wurldtech Security Technologies Inc. among others. Along with this listing the report also provides and in-depth description with information in terms of H.Q, future capacities, key mergers and acquisitions, financial overview, partnerships, collaborations, new product launches and developments.
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