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According to a new report Asia-Pacific IoT Security Market, the market is expected to attain a market size of $9.3 billion by 2022, growing at a CAGR of 33.8% during the forecast period. The rising incidences of identity theft and the features of IAM such as password management, single sign on, advanced authentication and audit are driving the growth of IAM. Additionally, growing investment over security solutions and enhanced enterprise mobility also add to the adoption of IAM. 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.
Identity Access Management segment with a market share of around 18.5%, dominated the Asia-Pacific IOT Security market by solution type. Distributed Denial of Service Protection segment however, would witness highest CAGR during the forecast period (2016-2022). In 2015, Building and Home Automation segment dominated the Asia-Pacific IOT Security Market by Application with a market share of 17%. However, Telematics segment would witness highest CAGR of 39.7% during the forecast period (2016-2022). Based on the verticals, BFSI segment dominated the Asia-Pacific IOT Security market by industry, with a revenue contribution of $232.3 million in 2015.
In 2015, China dominated the Asia-Pacific IOT Security Market. The Country has registered revenue of USD 393.9 million in 2015. However, Malaysia is expected to witness highest CAGR of 36.6% during the forecast period (2016-2022). The report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the country in Asia-Pacific region. The key influencing factors of the Asia-Pacific IoT Security market have been discussed in the report along with the elaborated company profiles namely IBM Corporation, Symantec Corporation, HP Enterprise Company, FireEye, Inc., Intel Corporation, Cisco Systems, Inc., Check Point Software Technologies and Infineon Technologies AG. Segmentation