IoT Security Market Growth with Global Industry Analysis to 2026

 The Infinium Global Research analyzes the IoT Security Market over the period of 2020 to 2026. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global iot security market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of iot security. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the iot security market during the period. The global IoT security market is projected to grow at a CAGR of 22.2% over the forecast period of 2020-2026.

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Growing Security Concerns for Critical Infrastructure are Driving the Growth of the IoT Security Market

Growing security concerns for critical infrastructure are driving the growth of the IoT security market. The IoT is expected to contribute to the creation of new customer value by connecting various devices to a network and enabling data gathering and analysis. The increasingly connected devices will create technical problems such as attacks with a broader scope. Hence, IoT security is one of the key requirements for critical infrastructure. Furthermore, a growing number of IoT security regulations provides a growing demand for the market. A number of industry bodies are developing security standards for IoT. This practice is designed to support those efforts and relevant published cybersecurity standards.

For example, the EU General Data Protection Regulation requires personal data to be processed securely. However, expensive IoT security solutions are affecting the growth of the market. Moreover, growing data risks in IoT networks provides a significant growth opportunity for the IoT security market. Besides the gigantic importance and wide applications of IoT although the existing core network security is mature enough still, some security concerns exist which are more harmful in the context of IoT, like Denial of Service and Distributed denial of service must be presented at this layer.

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Asia Pacific Dominated the IoT Security Market

The Asia Pacific dominated the IoT security market. The emerging markets are already matching the pace in adopting new technologies like IoT, 5G, AI, and cloud to drive new business models. Furthermore, government initiatives introduced various policies and initiatives to leverage the benefits of IoT disruptive technologies in various sectors is driving the growth of the market in this region. Additionally, the development of smart city technologies is again contributing to the growth of the IoT security market in the Asia Pacific region. The Government of India has Many start-ups in India are also using these technologies to create new and innovative business models. The tech-savvy consumers along with growing smartphone and mobile internet penetration are driving IoT applications in the Indian market.

Iot Security Market: Segmentation

The report on the global IoT security market covers segments such as component, deployment, security type, and end user. On the basis of component, the sub-markets include solution, and services. On the basis of deployment, the sub-markets include on-premise, and cloud. On the basis of security type, the sub-markets include application security, network security, cloud security, endpoint security, and other. On the basis of end user, the sub-markets include it and telecom, manufacturing, BFSI, transportation and logistics, energy and utilities, and others.

Iot Security Market: Competitive Landscape

The report provides profiles of the companies in the market such as Cisco Systems, IBM Corporation, Infineon Technologies AG, Siemens AG, Digi International, Intel Corporation, Gemalto, Fortinet, ZingBox Inc., Forgerock, and Mocana.

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