IoT Security Market Prospects and Growth Assessment Till 2028 – The Insight Partners.
Increasing focus on security and privacy concerns will raise IoT Security Market by 2028 with a CAGR of 17.6%. The scope of study involves understanding on the factors responsible for this growth of IoT Security market along with the estimates and forecasts in terms of revenue and market driving and restraining factors and also spots the significant IoT security players in the market and their key developments.
Security for IoT systems is crucial, security services are rising all across the globe to tackle the issues raised from IoT. The rising concern regarding the IoT security has encouraged several organizations to invest significantly in this area. Moreover, the venture capitalist have been showing keen interest in investing into the start-ups focused upon development of the IoT securities. Recently in March 2017, IBM and Salesforce announced a global strategic partnership to deliver joint solutions designed to leverage artificial intelligence. Similarly Symantec announced that it completed its acquisition of LifeLock, Inc., a leading provider of identity theft protection, for approximately $2.3 billion. Likewise, numerous other merger & acquisition and collaboration among leading market players are coming into picture which will influence the growth of IoT securities market.
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Besides this, Market is projected to witness a high growth on the account of implementation of strict government regulation encouraging IoT Security deployment, and rising smart devices use in commercial and industrial sector. It is expected that by 2020, there will be almost 50 billion connected devices in world. This increase in the number of these connected devices will make it more vulnerable to cyber-attacks. All these factors are have compelled government to intervene in IoT security deployment in several end-user segments. Therefore, most of the developed counties have implemented strict government regulation to support IoT security deployment. For instance, Germany being one of the early adopter of IoT has some strict data protection laws. As per government law, the country only relies on Germany based server location with companies headquartered in Germany. Also, members of the UK government have been banned from using smart watches as the European Commission (EC) plans to implement security standards for such internet-connected devices.
The report segments the Global IoT Security market as follows:
Global IoT Security Market – By Types
o Network Security
o End-point Security
o Cloud Security
o Application Security
o Others
Global IoT Security Market – By Solution
o Threat Analysis
o Identity Access Management
o Data Loss Protection
o Encryption
o Dispatch & Incident Response
o Distributed Denial of Service Protection
o Others
Global IoT Security Market – By Applications
o Smart Home
o Connected Car
o Information & Communication Technology
o Smart Factories
o BFSI
o Smart Retail
o Smart Healthcare
o Smart Transportation
o Wearable
o Others
Global IoT Security Market – By Geography
o North America
U.S.
Canada
Mexico
o Europe
France
Germany
Italy
Spain
UK
Rest of Europe
o Asia Pacific (APAC)
Australia
China
India
Japan
Rest of Asia Pacific
Global IoT securities market has been categorized by type further bifurcated into; Network Security, end-point security, application security, cloud security and others. A network security solution governs and log user’s activities to create access limitation, data breach response plan, compliance management, data encryption, web application management, and use this information to educate the users. Whereas, the end-point security refers to the security of the software, appliances, cloud services, and hybrid solutions which facilitates management of endpoints for all kind of business organizations. The cloud provider is solely accountable for the ongoing maintenance of the infrastructure and any compliance responsibilities
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