About Internet of Things (IoT) Security
Internet of things (IOT) security is the technology concerned with protection connected devices as well as networks in the internet of things (IOT). IOT platform is a multi-layer technology that allows straightforward provisioning, managing and automation of linked devices within the Internet of Things universe. There are various type of IOT security such as network security, endpoint security, application security, cloud Security and others. Growing incidences of cyber-attacks as well as rising dependency on connected devices will help to boost global IOT security market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 33.6% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Internet of Things (IoT) Security market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
PTC Inc. (United States), Symantec Corporation (United States), Cisco Systems, Inc. (United States), IBM Corporation (United States), Verizon Enterprises Solutions (United States), Trustwave (United States), Check Point Security Software Technologies Ltd. (Israel) and Infineon Technologies (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Gemalto NV (Netherlands), AT&T Inc. (United States), McAfee, LLC. (United States), Digicert (United States) and GlobalSign (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Internet of Things (IoT) Security market by Type (Network Security, Endpoint Security, Application Security, Cloud Security and Others), Application (Healthcare & Life Science, Infrastructure & Cities, Industrial system & Sensors, Smart home & Consumer, Transport & Urban Mobility and Others) and Region.
On the basis of geography, the market of Internet of Things (IoT) Security has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Israel, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement.
If we see Market by , the sub-segment i.e. will boost the Internet of Things (IoT) Security market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
Up Surging Demand of IOT Solutions in Organizations, High Adoption of Smart Devices and Growing Trend Of Bring Your Own Device (BYOD)
Market Growth Drivers:
Increasing Incidences of Cyber Attacks and Rising Dependency on Connected Devices
Restraints:
Lack of Awareness about IOT Solution Benefits and Less Number of Expertise
Opportunities:
Growing IOT Security Expenditure in Developing Countries
Market Leaders and their expansionary development strategies
In March 2024, Keysight has acquired the intellectual property of Firmalyzer, a firmware analysis company. With this acquisition, firmware security analysis technology will be integrated into the Keysight IoT Security Assessment and Automotive Security solutions.This will further enhance our solution, by providing analysis into what is happening inside the IoT device itself, automatically performing firmware security analysis and reporting on security issues.
In March 2024, The Connectivity Standards Alliance Product Security Working Group is pleased to announce the release of their IoT (Internet of Things) Device Security Specification 1.0, with the accompanying certification program, and Product Security Verified Mark. This groundbreaking initiative aims to establish a unified IoT cybersecurity standard and certification program, providing manufacturers a one-stop solution to certify their devices, enabling them to comply with multiple international regulations and standards more easily.
Key Target Audience
IOT Security Provider, Software Developers, Industry Associations and Experts, Private Research Organizations and Consulting Companies, Industry Associations, Government Market Research and Consulting Firm and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.