San Francisco, 26 February, Internet
of Things (IoT) Security Market Analysis Report By Component, By Solution, By
Services, By Application, By Security Type (Endpoint, Cloud, Network,
Application), And Segment Forecasts, 2018 – 2025.
The global IoT security market size is expected to reach USD 9.88 billion by
2025, according to a new study by Grand View Research, Inc., progressing at a
CAGR of 29.7% during the forecast period. Surging demand for enhanced privacy
is driving the market. Increasing government efforts to implement stringent
regulations to restrict the amount of data collected by IoT devices by
industries such as BFSI, retail, and healthcare is expected to stimulate the
growth of the market.
Safeguarding future of internet
connected devices by robustly configuring necessary/next-generation security
features and increasing transparency as well as providing consumers with a
choice to opt-out of data collection are some of the key factors driving the
market over the forecast period.
Increasing use of 3G and 4G
long-term evolution (LTE) as well as wireless networks and technologies is
augmenting the risk of cyber-attacks. Real-time information and
transaction-related information, which are crucial to users, is exchanged
through these cellular networks; thereby, giving rise to the need for IoT
security. Currently, implementation of the internet is rising exponentially in
areas such as health monitors, smart home appliances, smart city projects, and
smart retails, which has created the necessity for IoT security.
Adoption of cloud technologies
by various organizations for storing confidential data gives rise to risk of
unauthorized access to data. Moreover, growing trend of bring your own device
(BYOD) is increasing concerns regarding data security. Therefore, several
organizations and enterprises demand effective security solutions. Thus, a
robust security solution, such as integration of firewalls and data loss
prevention with IoT security solutions, strengthens organization posture to
face cyber threats.
However, lack of awareness
about benefits and availability of IoT security solution is hampering the
growth of the market. High cost of installation is also a stumbling stone in
the growth of the market. Lack of expertise in technical handling, cling to
regulatory compliance, and low budget for implementing new strategies are also
some of the factors inhibiting the growth of the market.
Access Full Research
Report On Internet of Things (IoT) Security Market Analysis:
Further key findings from the study suggest that:
·
The identity & access
management solution segment was valued at USD 255.8 million in 2017,
registering a healthy CAGR over the forecast period
·
The professional service is
expected to retain its dominance in the market through 2025 and is projected to
reach USD 2.11 billion
·
The application security type
is anticipated to register the highest CAGR of 33.5% over the forecast period
·
The smart home & consumer
application segment dominated the market in 2017 and is projected to reach USD
2.93 billion by 2025
·
North America was valued at USD
442.4 million in 2017. It is expected to maintain dominance in the market until
2025. The region was followed by Europe, which accounted for a revenue share of
27.4% in 2017
·
Asia Pacific is anticipated to
witness the highest CAGR of 34.6% over the forecast period
·
Some of the key players in the
market Cisco Systems Inc.; IBM Corporation; Symantec Corporation; Gemalto NV;
and McAfee, LLC.
Browse More Reports Of This Category By
Grand View Research At: https://www.grandviewresearch.com/industry/network-security-software-and-services
Grand View Research has segmented the
global IoT security market on the basis of component, solution, services,
security type, application. and region:
IoT Security Component Outlook
(Revenue, USD Million, 2015 - 2025)
·
Solution
·
Services
IoT Security Solution Outlook
(Revenue, USD Million, 2015 - 2025)
·
Analytics
·
Encryption
·
Data Loss Protection (DLP)
·
Identity and Access Management
(IAM)
·
Unified Threat Management (UTM)
·
Others
IoT Security Services Outlook
(Revenue, USD Million, 2015 - 2025)
·
Professional
·
Managed
IoT Security Security Type
Outlook (Revenue, USD Million, 2015 - 2025)
·
Application
·
Cloud
·
Endpoint
·
Network
·
Others
Application Outlook (Revenue,
USD Million, 2015 - 2025)
·
Healthcare & Life Science
·
Infrastructure & Cities
·
Industrial system & Sensors
·
Smart home & Consumer
·
Transport & Urban Mobility
·
Others
Regional Outlook (Revenue, USD
Million, 2015 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
U.K.
o
Germany
o
France
o
Spain
·
Asia Pacific
o
China
o
India
o
Japan
o
Australia New Zealand
o
ASEAN
o
South Korea
·
Latin America
o
Brazil
o
Mexico
·
MEA
o
GCC Countries
o
Israel
o
South Africa
Browse Press Release of this Report:
www.grandviewresearch.com/press-release/global-led-lighting-market
www.grandviewresearch.com/press-release/global-led-lighting-market
About Grand View Research
Grand View
Research provides syndicated as well as customized research reports and
consulting services on 46 industries across 25 major countries worldwide. This
U.S.-based market research and consulting company is registered in California
and headquartered in San Francisco. Comprising over 425 analysts and
consultants, the company adds 1200+ market research reports to its extensive
database each year. Supported by an interactive market intelligence platform,
the team at Grand View Research guides Fortune 500 companies and prominent
academic institutes in comprehending the global and regional business
environment and carefully identifying future opportunities.
For more
information: www.grandviewresearch.com/
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