Global Internet of Things (IoT) Security Market - By Type of Security (Network Security, Endpoint Security, Application Security, Cloud Security), Solutions (IAM, IPS, DLP, UTM, SVM, NSF), Application, Industry, Geography, Trends, Forecast - (2017 - 2022)

Published - Jan 2017 | Category - ICT and Media | No. of Pages - 148 | Published By - Mordor Intelligence

Report Highlights

The global IoT security market was estimated at USD 8.058 billion in 2016 and is projected to reach USD 49.235 billion by 2022 at a CAGR of 35.21% over the forecast period. IoT is steadily gaining traction with more connected devices making their presence felt in every aspect of our lives, including homes, offices, cars and even bodies. Security is a major concern as businesses are being increasingly violated by attackers via unshielded web-facing assets. IoT security is the area of safeguarding connected devices and networks. IoT depends on microcontrollers with limited power, which often makes it impractical for approaches to be implemented.

Market Dynamics

Large-scale implementation of IoT devices assures to transform aspects of the way we live. New IoT products with internet-enabled appliances, home automation components, and energy management devices are changing the entire scenario of the market. With people becoming more health conscious, personal IoT equipments like wearable health monitors and network-enabled medical devices are altering the way services are delivered in regions like North America and Asia-Pacific. The major factor driving the market is effective communication architecture to the end-user by opening possibilities of using information in new ways. The major factors hampering the growth of the market are lack of technical expertise for infrastructure handling, adhering to regulatory compliances, and low budget for strategic implementations.

Market Segmentation

North America is the major contributor to the market. Asia-Pacific is witnessing the fastest growth, owing to sophistication of threats with updated and new policies in countries like India, Japan, and Singapore.

Among the different types, cloud security is witnessing substantial growth across different verticals with software, platform and infrastructure in demand, for sensitive data.

IAM (identity access management) is the most favorable in the solution segment, as it provides advanced authentication over other solutions and enhances enterprise mobility.

BFSI is the major contributor to IoT security market with rising adoption in mobile applications. Smart banking with preferences for common security platform reduces complications in this particular segment.

Energy & utilities vertical shall emerge as the fastest growing in applications, due to extensive execution of smart matters for utility management systems.

Key Market Players

Prominent players in the market include:

Symantec Corporation

IBM Corporation

Fire Eye Inc.

Intel Corporation

Infineon Technologies

Cisco Systems Inc.

Oracle Corporation

Report Offerings

Market definition for the global IoT security market along with identification of key drivers and restraints of the market.

Market analysis of the global IoT security market, with region specific assessments.

Identification of factors instrumental in changing the market scenarios and in offering prospective opportunities.

Identification of key companies, which can influence the market on both global and regional scales.

Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.

Identification and analysis of the macro and micro factors that affect the global IoT security market on both global and regional scales.

A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.

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