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The LAMEA IoT Security Market Size is estimated to witness a market growth rate of 34.2% CAGR during the forecast period (2016 - 2022).
Securing IoT is a mammoth task and therefore the need for real-time resolutions is on the rise. Support & maintenance services as a solution would be essential for real-time solutions; therefore, there is a tremendous potential due to increasing penetration of IoT in different verticals. Companies within the BFSI sector are striving to upgrade processing and transaction technologies and therefore the need for end-to-end security solutions becomes vital. In addition, smart banking, internet banking, and mobile banking are the factors that have led the BFSI sector to focus more on IoT security. Also, companies within the sector are among early adopters of IoT; therefore, is expected to witness notable traction in the IoT security market. 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria and Rest of LAMEA. South Africa remained the dominant region in the LAMEA IoT Security market in 2015. Rest of 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.