IoT Security Market to Reflect Impressive Growth Rate of $9.88 Billion By 2025 “The global IoT security market size is projected to account for USD 9.88 billion by 2025 and is expected to grow with 29.7% CAGR over the forecast period from 2018 to 2025. Stringent regulations by governments about data privacy which is collected by IoT devices from several sectors such as healthcare, BFSI, and retail are projected to drive the market growth during the forecast period.”
The Global IoT security Market Report offers details on current and future growth trends pertaining to the business besides information on numerous regions across the geographical landscape of the IoT security Market. The study includes global, regional, and country-level market size, shares, growth rate analysis (include the causes of highest and lowest peak industry analysis), product launches, latest trends, the impact of covid19 on worldwide. IoT security Market Research Methodology overview consists of primary and secondary research, company share analysis, model (including Demographic data, Macroeconomic indicators, and Industry indicators i.e. Expenditure, infrastructure, sector growth, and facilities, etc), Research Limitations, and Revenue Based Modelling. Comprehensive analysis of IoT security Market based on current & future analysis depending on historic data also featured in this Report. The global IoT security market size is projected to account for USD 9.88 billion by 2025 and is expected to grow with 29.7% CAGR over the forecast period from 2018 to 2025. Stringent regulations by governments about data privacy which is collected by IoT devices from several sectors such as healthcare, BFSI, and retail are projected to drive the market growth during the forecast period. Factors such as securing data generated by connected devices by developing advanced security features are expected to drive market growth. In addition, offering choices to consumers for collecting required data and increasing privacy are other factors driving the need for IoT security. Growing usage of 3G & 4G long-term evolution, as well as wireless communication and technologies, is fuelling the risk of cyber-attacks. Transaction-related information and real-time information are transferred through these networks which are driving need for IoT security. Adoption of IoT is widely increasing in several areas such as smart home appliances, smart retail, health monitors and smart city projects which have increased the need for IoT security.
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Growing adoption of cloud technology across organizations has increased the risk of accessing data by unauthorized sources. In addition, increasing trend of BYOD has also risen the concern about data security. Hence, many enterprises and organizations need robust security solutions such as data loss prevention along with IoT security solutions, integration of firewalls to strengthen organizations to reduce the risk of cyber-attacks. However, low awareness about the benefits of IoT security among organizations and other sectors is hindering the IoT security market growth. In addition, high installation cost is another challenge for market growth. Cling to regulatory compliance, lack of technical skills, and low budget to implement new strategies are expected to restrain the market growth during the forecast period. Further key findings from the report suggest: • In 2017, the identity and access management solution segment generated revenue of USD 255.8 million and is expected to grow with significant CAGR. • The professional service is projected to dominate the market over the forecast period and is expected to reach around USD 2.11 billion by 2025. • The application security type is estimated to grow with the highest CAGR of over 33% during the forecast period. • In 2017, smart home and consumer application segment held the largest market share and expected to reach around USD 2.93 billion by the end of 2025. • In 2017, North America accounted for revenue of USD 442.4 million and expected to dominate the market throughout the forecast period. North American market is followed by Europe and held the market share of more than 27%, in 2017. • Asia Pacific is anticipated to exhibit with the fastest CAGR of over 34.0% during the forecast period. • Symantec Corporation; Gemalto NV; Cisco Systems Inc.; McAfee, LLC.; and IBM Corporation are prominent market players. Million Insights has segmented the global IoT security market on the basis of component, solution, services, security type, application and region: IoT Security Component Outlook (Revenue, USD Billion, 2015 - 2025) • Solution • Services IoT Security Solution Outlook (Revenue, USD Billion, 2015 - 2025) • Analytics • Encryption • Data Loss Protection (DLP) • Identity and Access Management (IAM) • Unified Threat Management (UTM)
• Others IoT Security Services Outlook (Revenue, USD Billion, 2015 - 2025) • Professional • Managed IoT Security Type Outlook (Revenue, USD Billion, 2015 - 2025) • Application • Cloud • Endpoint • Network • Others
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IoT Security Application Outlook (Revenue, USD Billion, 2015 - 2025) • Healthcare & Life Science • Infrastructure & Cities • Industrial system & Sensors • Smart home & Consumer • Transport & Urban Mobility • Others IoT Security Regional Outlook (Revenue, USD Billion, 2015 - 2025) • North America • The U.S. • Canada • Europe • The U.K.
• Germany • France • Spain • Asia Pacific • China • India • Japan • Australia • New Zealand • ASEAN • South Korea • Latin America • Brazil • Mexico • MEA • GCC Countries • Israel • South Africa
Table of Contents:Chapter 1 Methodology and Scope Chapter 2 Executive Summary Chapter 3 IoT security: Market Variables, Trends & Scope Chapter 4 IoT security: Product Estimates & Trend Analysis Chapter 5 IoT security: Application Estimates & Trend Analysis Chapter 6 IoT security: End-use Estimates & Trend Analysis Chapter 7 IoT security: Industrial End-use Estimates & Trend Analysis Chapter 8 IoT security: Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape Chapter 10 IoT security: Manufacturers Company Profiles
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