According to a new market research report "Internet of Things (IoT) Security Market by Technologies (Network, Cloud and Application Security, Identity Access Management, Analytics, UTM, IDS/IPS, Device Management, Encryption), Industry Verticals and Applications - Global Forecast to 2020", published by MarketsandMarkets, The Internet of Things (IoT) security market consists of smart technology solutions and services that aim at securing the network of connected devices. Security issues started with the connection of computer systems and with the growth of networking, the number of cyber attacks also increased. To safeguard the IoT network, security solutions providers are working towards the integration efficient security solutions.
Browse 83 market tables and 51 figures spread through 170 pages on "Internet of Things (IoT) Security Market - Global Forecast to 2020"
Early buyers will receive 10% customization on this report.
The rise of security concerns in critical infrastructures such as utilities, smart grids, and manufacturing facilities is expected to remain the key driver of the IoT security market in the coming years. Security issues in critical infrastructures can lead to huge losses such as power hacks, loss of life, and malfunction of nuclear reactors. Therefore, proper security implementation is essential and companies are increasing their investments for the same. Regulating bodies in North America and Europe have also mandated the security standards regarding the disclosure of information and privacy. As a result, solution providers are shifting towards IoT security solutions to safeguard the connected devices. However, the developing countries are still unaware of the IoT based cyber attacks and their resulting effects which act as a factor restraining the growth of the market.
Nowadays, cloud-based security solutions are providing good opportunities for the growth of the IoT security market by minimizing implementation and maintenance costs and organizations are shifting towards the deployment of cloud-based security solutions.
Furthermore, the IoT security market remains competitive with the presence of a large number of vendors. The major vendors in the IoT security market are Cisco, IBM, Infineon Technologies, Intel Corporation, Symantec, and Check Point Technologies, among others.
The global IoT security market has been segmented on the basis of applications, solutions, services, and regions. Applications include wearables, building & home automation, supply chain management, patient information management, energy & utilities management, customer information security, asset optimization, manufacturing process management, communication technology management, and telematics. IoT security solutions include IAM, analytics, encryption, UTM, Data Loss Protection (DLP), IDS/IPS, DDoS protection, security & vulnerability, device management, and others. The services have been segmented into consulting services, managed services, risk assessment, and support & maintenance services. In addition, the report classifies the market according to the regions of North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America.
Speak to Analyst: http://www.marketsandmarkets.com/speaktoanalyst.asp?id=67064836
MarketsandMarkets forecasts that the global IoT security market is expected to grow from USD 6.89 Billion in 2015 to USD 28.90 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 33.2% from 2015 to 2020. In the current scenario, North America is expected to be the largest market on the basis of market size and technological advancement.
MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
1 South Dearborn Street,
21st Floor , Chicago,
Tel: + 1-888-600-6441