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The Asia Pacific IoT Security Market sizeis anticipated to experience a market growth rate of 33.8% CAGR during the forecast period (2016 - 2022).
The growing adoption of connected devices across different verticals and the widespread impact of IoT attacks are expected to shape the future of IoT security market. The potential of the IoT security market would remain on a higher side and is expected provide tremendous growth opportunities to the security solutions and services providers. Diversification within the cyber security vendors and semi-conductor manufacturers would create a competitive ecosystem.
Investments within enterprises, SMBs and government organizations are increasing to manage and control risks that are detrimental for the economic health of companies and the countries. The aforementioned factors will promote the growth of the IoT security market. Networking appliances and other objects is a relatively new concept; therefore, implementing security into the product design does not fall within the scope of the existing product engineering. IoT products now are found within old and unpatched embedded operating systems and software.
The different types of IOT highlighted in the report include network IOT Security, endpoint IOT Security, application IOT Security cloud security and others. Network Security is the dominant segment across all applications. The most promising growth is witness in Cloud security during the forecast period. Based on the Solution Type, the IoT Market is segmented into Identity & Access Management, Threat Intelligence, Encryption, Unified Threat Management, Data Loss Protection, Intrusion DetectionPrevention System, Distributed Denial of Service Protection, Network Forensics, Device Management and Others. Identity & Access Management dominated the solution market throughout the period.
The application segment of IOT covered in the report are Building and Home Automation, Customer Information Security, Supply Chain Management, Manufacturing Process Management, Patient Information Management, Communication Technology Management, Telematics, Energy and Utilities Management, Wearable and Others. The verticals discussed in the report include BFSI, Retail, Manufacturing, Healthcare, Transportation, Government, Energy & Utilities, Telecommunication & IT and Others. The report also covers country wise segmentation of IOT Security market.
The countries included in the report are China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific. China has dominated the Asia-Pacific IoT Market in 2015. Malaysia would witness highest CAGR during the forecast period (2016-2022). The report covers the analysis of key stake holders of the IoT Security market. Key companies profiled in the report include IBM Corporation, Symantec Corporation, HP Enterprise Company, FireEye, Inc., Intel Corporation, Cisco Systems, Inc., Check Point Software Technologies and Infineon Technologies AG.