IoT Security Market Overview
Maximize Market Research’s market study on the IoT Security Market sector provides a thorough analysis of the worldwide market in 2022. It includes a broad range of elements from the IoT Security market’s kind, distribution channel, end-user, and industrial sector. The research also provides a detailed prognosis through 2029, along with information on recent developments, mergers and acquisitions, and business strategies used by well-known organisations. For beginners hoping to learn more about the sector, this study on the IoT Security market is an excellent resource.
Market dynamics for IoT security:
In the Internet of Things age, everything in a person’s life is becoming digitally connected, including their homes, workplaces, cars, and even their bodies. Smart adjustments have been made to every connected object so that it can fully benefit from the advantages of being online. The adoption of IPv6 and the widespread use of Wi-Fi networks are driving the rapid expansion of the Internet of Things. As a result, the Internet of Things is drawing more cybercriminals. It’s simple to reset a hijacked device and install fresh security patches. IoT devices are diverse, making it difficult for hackers to target them all with the same attack.
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IoT Security Market Scope
A complete overview of the IoT Security market and dynamic research technique are provided in the Maximize Market Research study. Along with the PESTAL, PORTER, and SWOT analyses, the research offers details on major growth drivers, market dynamics, challenges, and scope. The study covers the most recent innovations and cutting-edge technological advancements in the worldwide IoT Security market. It provides thorough data for the global IoT Security market, such as market shares, supply chain analyses, and critical success criteria. Insights and comments from industry professionals who represent the top leading companies in the worldwide IoT Security market are presented in the report’s concluding part. The research includes historical years (2018-2020), base year (2022), expected year (2022), and projection years (2023-2029) for a certain time period.
IoT Security Market Value :
IoT Security Market size was valued at US$ 14.89 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 22.1% through 2022 to 2029, reaching nearly US$ 73.60 Bn.
IoT Security Market Segmentation
Global IoT Security Market, by Component (2021-2029)
• Solutions
• Services
The market is divided into Solutions and Services based on the Component. By 2029, the solutions category is anticipated to have the biggest market shares. Any IoT network must be secure in order to protect data privacy and grant authorised users access to connected devices. IoT security must be upheld in accordance with the industry in which it is employed given the growing use of IoT across a number of sectors. The intensity of cyberattacks increases along with the number of IoT implementations. IoT security solutions make use of a number of different technologies, including identity access management, data encryption and tokenization, intrusion detection/prevention systems, device authentication and management, secure software and firmware updates, secure communications, PKI lifecycle management, DDoS protection, security analytics, and others.
Global IoT Security Market, by Solution (2021-2029)
• Identity and Access Management
• Data Encryption and Tokenization
• Intrusion Detection System/Intrusion Prevention System
• Device Authentication and Management
• Secure Communications
• PKI Lifecycle Management
• Distributed Denial of Service Protection
• Security Analytics
• Other Solutions
Global IoT Security Market, by Service (2021-2029)
• Professional services
• Managed Services
Global IoT Security Market, by Type (2021-2029)
• Network Security
• Endpoint Security
• Application Security
• Cloud Security
• Other Security Types
The market is divided into Network Security, Endpoint Security, Application Security, Cloud Security, and Other Security Types based on the kind of security. During the projected period of 2022-2029, the network security segment is anticipated to expand quickly at a CAGR. The networking component of the IoT ecosystem is its skeleton, and the expansion of network security is largely due to the proliferation of network protocols. Wireless communication, gateways, and remote access are all included under network security.
Global IoT Security Market, by Application Area (2021-2029)
• Smart Manufacturing
• Smart Energy and Utilities
• Connected Logistics
• Smart Home and Consumer Electronics
• Connected Healthcare
• Smart Government and Defense
• Smart Retail
• Other Application Areas
The smart manufacturing, smart energy and utilities, connected logistics, smart home and consumer electronics, connected healthcare, smart government and defence, smart retail, and other application areas market segments are based on the application areas. The Smart Energy and Utilities segment is anticipated to expand quickly between 2022 and 2029 at a CAGR. This is because more and more IoT-enabled gadgets, like smart metre, smart appliances, and renewable energy sources, are being used.
Global IoT Security Market, by Deployment Mode (2021-2029)
• On-Premises
• Cloud
Global IoT Security Market, by Organisation Size (2021-2029)
• Small and Medium Enterprises
• Large Enterprises
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IoT Security Market Key Players
• AWS (US)
• Google (US)
• IBM (US
• Intel (US)
• Cisco (US)
• Ericsson (Sweden)
• Thales (France)
• Allot (Israel)
• Infineon (Germany)
• Atos (France)
• Magiccube (US)
• Dragos Security (US)
• Claroty(US)
• Karamba Security (Israel)
• Vdoo (JFrog) (US)
• Forgerock (US)
• Ordr (US)
• Newsky (US)
• Armis (US)
• Mobileum(US)
• Trend Micro (Japan)
• Sophos (UK)
• Checkpoint (US)
• Fortinet (US)
IoT Security Market Regional Analysis
The report presents statistical data on market growth for each influential economy in the global IoT Security market. It encompasses various regions, including North America, Asia-Pacific, Europe, Latin America, and MEA, providing comprehensive insights. The report covers emerging trends, population growth, and government strategies and regulations, offering a holistic view of the market. The concluding section of regional insights provides historical and forecasted data on the market influence of all economies within the respective regions.
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Key Questions answered in the IoT Security Market Report are:
- Which region held the largest market share in the IoT Security Market?
- What are the opportunities for the IoT Security Market?
- What are the restraining factors in the IoT Security market?
- Who are the key players of the IoT Security market?
Key offerings:
- Market Share, Size, and Forecast by Revenue|2022-2029
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation: A detailed analysis by IoT Security
- Landscape- Leading key players and other prominent key players.
About Maximize Market Research:
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