IoT Security Market to reach USD 73.60 Bn by 2029, emerging at a CAGR of 22.1 percent and forecast 2023-2029 – WhaTech Technology and Markets News

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IoT security is a branch of technology dedicated to safeguarding connected devices and networks in the internet of things (IoT).

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IoT Security Market Report Scope and Research Methodology:

The IoT Security Market Report, produced  meticulously examines the global landscape of IoT security. The report encompasses an extensive scope, delving into various facets of the market, including market segments based on components, types, application areas, deployment modes, organization sizes, and regional perspectives.

It aims to provide a comprehensive understanding of the IoT security market dynamics, trends, challenges, and opportunities shaping the industry’s growth trajectory.

The report’s insights are the culmination of a robust research methodology that combines both primary and secondary data sources. Leveraging industry experts’ inputs, exhaustive data analysis, and credible information sources, the research methodology ensures a comprehensive and accurate assessment of the IoT security market.

Primary research involves in-depth interviews and surveys with key industry stakeholders, while secondary research encompasses a thorough review of industry databases, company reports, and relevant literature. Rigorous analysis and validation of data using sophisticated tools and models result in an in-depth, reliable, and insightful report on the global IoT security landscape.

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What are IoT Security Market Dynamics?

Digitally connected equipment and applications are infiltrating every element of human life in the Internet of Things era, including homes, offices, cars, and even human bodies. Connected objects have all been smartly calibrated to take full advantage of the advantages of being online.

As IPv6 is implemented and Wi-Fi networks are widely deployed, the Internet of Things is growing at a rapid rate.

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Cybercriminals are becoming more attracted to the Internet of Things as a result.

If a device is hacked, it’s easy to reset it and apply new fixes. Hackers have a hard time exploiting IoT devices due to their diversity, requiring different methods to target each.

These hackers, on the other hand, are bypassing these obstacles by targeting the correct equipment at the right time and location, preventing it from being reset and forcing the owners to pay the ransom. According to Kaspersky’s research, cyber attacks against internet-of-things (IoT) devices increased by 100% in the first six months of 2021.

More than 1.5 billion IoT threats have been detected by the organisation, up from 639 million in the previous half-year, which is more than double the amount.

What is IoT Security Market Regional Insight?

The report offers detailed regional insights, highlighting the dominance of the Asia Pacific region in the IoT security market. Key economies such as Singapore, Japan, China, India, and Australia present significant growth opportunities due to rising government initiatives, technological advancements, and increasing internet penetration.

North America demonstrates rapid growth owing to increased adoption of IoT, escalating cyber threats, and significant investments in IoT security solutions. The region, particularly the United States, stands out as a hub for IoT implementations and security spending.

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What is IoT Security Market Segmentation?

by Component


by Solution

Identity and Access Management
Data Encryption and Tokenization
Intrusion Detection System/Intrusion Prevention System
Device Authentication and Management
Secure Communications
PKI Lifecycle Management
Distributed Denial of Service Protection
Security Analytics
Other Solutions

by Service

Professional services
Managed Services

by Type

Network Security
Endpoint Security
Application Security
Cloud Security
Other Security Types

by Application Area

Smart Manufacturing
Smart Energy and Utilities
Connected Logistics
Smart Home and Consumer Electronics
Connected Healthcare
Smart Government and Defense
Smart Retail
Other Application Areas

by Deployment Mode


by Organisation Size

Small and Medium Enterprises
Large Enterprises

Who are IoT Security Market Key Players?

  1. Microsoft (US)
    2. AWS (US)
    3. Google (US)
    4. IBM (US
    5. Intel (US)
    6. Cisco (US)
    7. Ericsson (Sweden)
    8. Thales (France)
    9. Allot (Israel)
    10.Infineon (Germany)
    11.Atos (France)
    12.Magiccube (US)
    13.Dragos Security (US)
    15.Karamba Security (Israel)
    16.Vdoo (JFrog) (US)
    17.Forgerock (US)
    18.Ordr (US)
    19.Newsky (US)
    20.Armis (US)
    22.Trend Micro (Japan)
    23.Sophos (UK)
    24.Checkpoint (US)
    25.Fortinet (US)

Table of content for the IoT Security includes: 

  1. Global IoT Security: Research Methodology 
  1.   Global IoT Security: Executive Summary
  • Market Overview and Definitions
  • Introduction to the Global Market
  • Summary
  • Key Findings
  • Recommendations for Investors
  • Recommendations for Market Leaders
  • Recommendations for New Market Entry 

    3.Global IoT Security: Competitive Analysis

  • MMR Competition Matrix
  • Market Structure by region
  • Competitive Benchmarking of Key Players
  • Consolidation in the Market
  • M&A by region
  • Key Developments by Companies
  • Market Drivers
  • Market Restraints
  • Market Opportunities
  • Market Challenges
  • Market Dynamics
  • PORTERS Five Forces Analysis
  • Regulatory Landscape by region
  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • South America
  • COVID-19 Impact 

         4 . Company Profile: Key players

  • Company Overview
  • Financial Overview
  • Global Presence
  • Capacity Portfolio
  • Business Strategy
  • Recent Developments

Key Offerings:

  • Past Market Size and Competitive Landscape (2022 to 2029)
  • Past Pricing and price curve by region (2022 to 2029)
  • Market Size, Share, Size and Forecast by different segment | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
  • Market Segmentation – A detailed analysis by growth and trend
  • Competitive Landscape – Profiles of selected key players by region from a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis
  • Legal Aspects of business by region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations 

More Related Reports: 

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