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The global IoT Security Market size is expected to reach a value of $29.2 billion by 2022, rising at a growth rate of 27.9% CAGR during the forecast period.
The era of the Internet of Things (IoT) is about connectivity, where digitally connected devices are taking over every aspect of human life, including homes, offices, cars and even bodies. With the advent of IPv6 and the extensive deployment of Wi-Fi networks, IoT is rapidly growing. The IoT security has paved path to new strategic alliances. A conglomeration of leading tech firms, founded the Internet of Things Security Foundation. The purpose of the foundation was to track devices that are vulnerable to flaws and offer security assistance to tech providers, system adopters and end users.
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 geographical segmentation of IOT Security market.
Based on region, IoT Security market is segmented into North America (US, Canada, Mexico and Rest of North America), Europe (Germany, UK, France, Russia, Spain, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific) and Latin America, and Middle East & Africa. North America remained the dominant region in the global IoT Security market in 2015. LAMEA 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.