Internet of Things (IoT) Security Market Size and Growth Analysis Report 2018
Market overview:
IoT is one kind of network of internet-connected objects that collect and exchange data using the embedded sensors. Today, IoT accomplished to penetrate day-to-day life, and companies providing IoT-based solutions have started investing a lot on its security phase.
The global Internet of Things (IoT) Security Market was worth USD 9.36 Billion in 2019 and is estimated to rise at a CAGR of 37% to reach USD 36.57 Billion by 2024.
Recent developments:
• In February 2019, Mocana Company was acquired by Intel, joining Mocana’s Trust Center with the Intel Secure Device Onboard service. This new acquisition would make IoT device security simpler.
Market Drivers and Restrains:
The rise in the global cyber-attacks raised dependency on the associated devices, and the need to retain the connected device secure drive the market development.
Moreover, the rise in the IoT security expenditure by the companies in the emerging economies is projected to offer lucrative growth opportunities to the market.
However, aspects such as less trained workforce and low awareness about the significance of the IoT security solutions hamper the market growth.
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Report is segmented as:
By Type:
• Network
• Endpoint
• Application
• Cloud Security
Solution:
• Identity Access Management
• Device Authentication and Management
• Security Analytics
• IDS/IPS
Geographical Segmentation:
By region, the market is analysed across North America, Asia-Pacific, Europe, and LAMEA. Asia-Pacific leads the global Internet of Things (IoT) Security Market.
Key market players:
• Infineon Technologies
• Sophos Plc
• NSIDE Secure SA
• Cisco Systems Inc
• IBM Corporation
• Check Point Security Software Technologies Ltd.
• Symantec Corporation
• Intel Corporation
• Alcatel-Lucent S.A.
• ARM Holdings
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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