Market Insights:
Internet of Things Security Market size was valued at USD 14.88 Billion in 2021, registering a CAGR of 21.18 % during the forecast period (2022-2030), and the market is projected to be worth USD 83.85 Billion by 2030.
IoT security is the technology field concerned with minimising cyber dangers posed by Internet of Things–connected devices and networks. Furthermore, IoT entails the addition of internet connectivity to a network of interconnected computing devices, digital machines, mechanical machines, items, and people. The internet’s interconnection of systems has increased the number of hostile assaults on this device, including as viruses, hacks, and attacks. IoT security’s major purpose is to give IoT devices with various characteristics for detecting, resisting, and recovering from various harmful assaults.
Internet of Things Security Market Research Report” was just released by Market Research Community. It is divided into several categories, including type (Network Security, Application Security, Cloud Security, Endpoint Security, Other Security Types (Email Security, Web Security)), application (Smart Manufacturing, Smart Retail, Smart Energy Management, Smart Supply Chain, Connected Healthcare, Connected Logistics, Connected Cars, Other Applications (Smart Education, Smart Agriculture)), Component (Solutions (PKI Lifecycle Management, Secure Communications, Unified Threat Management, Security Analytics, Identity and Access Management, Data Encryption and Tokenization, Intrusion Detection System/Intrusion Prevention System, Distributed Denial of Service Protection, Other Solutions (Incidence Response System, Device Authentication and Management)) Services (System Integration Services, Training and Maintenance Services, Managed Services, Professional Services, Consulting services)), By Industry Vertical (Manufacturing, Retail & E-Commerce, Government & Defense, Transportation & Logistics, Energy & Utilities, Healthcare, Others), Deployment Mode (On-premises, Cloud-based), Organization Size (Large Enterprises, Small & Medium Enterprises), and companies (Fortinet, Inc., Palo Alto Networks, Inc., Trend Micro Inc., SecuriThings, Cisco Systems, Inc., Broadcom Inc., international business machines corporation, Infineon Technologies AG, Gemalto NV, Intel Corporation), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 21.18 %, over the forecast period of 2022–2030
Driver:
The increased adoption of Internet of Things Security in the Network Security industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Internet of Things Security also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Internet of Things Security in many sectors also boosts the market growth during the forecast period.
Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2018-2030 |
| Market Size in 2030 (USD Billion) | 83.85 Billion |
| CAGR (2022-2030) | 21.18% |
| By Type | Network Security, Application Security, Cloud Security, Endpoint Security, Other Security Types (Email Security, Web Security) |
| By Application | Smart Manufacturing, Smart Retail, Smart Energy Management, Smart Supply Chain, Connected Healthcare, Connected Logistics, Connected Cars, Other Applications (Smart Education, Smart Agriculture) |
| By Component | Solutions (PKI Lifecycle Management, Secure Communications, Unified Threat Management, Security Analytics, Identity and Access Management, Data Encryption and Tokenization, Intrusion Detection System/Intrusion Prevention System, Distributed Denial of Service Protection, Other Solutions (Incidence Response System, Device Authentication and Management)) Services (System Integration Services, Training and Maintenance Services, Managed Services, Professional Services, Consulting services) |
| By Industry Vertical | Manufacturing, Retail & E-Commerce, Government & Defense, Transportation & Logistics, Energy & Utilities, Healthcare, Others |
| By Deployment Mode | On-premises, Cloud-based |
| By Organization Size | Large Enterprises, Small & Medium Enterprises |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | Fortinet, Inc., Palo Alto Networks, Inc., Trend Micro Inc., SecuriThings, Cisco Systems, Inc., Broadcom Inc., international business machines corporation, Infineon Technologies AG, Gemalto NV, Intel Corporation |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the Internet of Things Security market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Fortinet, Inc., Palo Alto Networks, Inc., Trend Micro Inc., SecuriThings, Cisco Systems, Inc., Broadcom Inc., international business machines corporation, Infineon Technologies AG, Gemalto NV, Intel Corporation
Market Segment Analysis:
By Component
Solutions
- PKI Lifecycle Management
- Secure Communications
- Unified Threat Management
- Security Analytics
- Identity and Access Management
- Data Encryption and Tokenization
- Intrusion Detection System/Intrusion Prevention System
- Distributed Denial of Service Protection
- Other Solutions (Incidence Response System, Device Authentication and Management)
Services
- System Integration Services
- Training and Maintenance Services
- Managed Services
- Professional Services
- Consulting services
By Type
- Network Security
- Application Security
- Cloud Security
- Endpoint Security
- Other Security Types (Email Security, Web Security)
By Deployment Mode
- On-premises
- Cloud-based
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
By Application
- Smart Manufacturing
- Smart Retail
- Smart Energy Management
- Smart Supply Chain
- Connected Healthcare
- Connected Logistics
- Connected Cars
- Other Applications (Smart Education, Smart Agriculture)
By Industry Vertical
- Manufacturing
- Retail & E-Commerce
- Government & Defense
- Transportation & Logistics
- Energy & Utilities
- Healthcare
- Others
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Internet of Things Security industries in the region.
Key Internet of Things Security Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Internet of Things Security Market segments.
– Largest Market Share Held by Industry to Industry for Internet of Things Security
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Internet of Things Security Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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Research Methodology
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