Global IoT Security Market Overview:
The Internet of Things (IoT) security refers to a technological solution that is generally adopted by businesses for protecting their data and connected devices from malicious attacks, such as hacks, viruses, and cyberattacks. The growing adoption of IoT for achieving internet connectivity to a system of interrelated digital machines, computing devices and objects is providing a boost to the demand for IoT security systems across multiple sectors.
According to latest report by IMARC Group, titled “IoT Security Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022- 2027”, the global IoT security market reached a value of US$ 3.04 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 14.15 Billion by 2027, exhibiting a CAGR of 29.75% during 2022-2027.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Global IoT Security Market Trends:
The global market is primarily driven by the increasing incidences of data thefts and cybercrimes. This has encouraged enterprises to heavily invest in the deployment of IoT security systems in order to maintain the privacy and confidentiality of data. Due to the rapid outbreak of coronavirus disease (COVID-19) and the rising implementation of remote working approaches, there has been a significant increase in the adoption of IoT security solutions across the globe. Other factors, including continuous improvements in the information technology (IT) infrastructure and extensive research and development (R&D) activities conducted by key players, are also favorably impacting the market growth.
Global IoT Security Market 2022- 2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
- Allot Ltd.
- Armis Inc.
- CENTRI Technology
- Cisco Systems, Inc.
- ForgeRock Inc.
- Fortinet, Inc.
- Gemalto NV
- International Business Machines (IBM) Corporation
- Infineon Technologies AG
- Intel Corporation
- Mocana Corporation
- Securithings, Inc
- Broadcom, Inc.
- ZingBox Inc.
Market Breakup by Component:
- Solutions
- Services
Market Breakup by Security Type:
- Network Security
- Endpoint Security
- Application Security
- Cloud Security
- Others
Market Breakup by Vertical:
- Energy and Utilities
- Manufacturing
- Automotive
- Transport
- Consumer Electronics
- Healthcare
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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