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(AsiaNewsWire.Net, June 13, 2018 ) IoT security market is expected to grow US$ 30.9 billion by 2025 from US$ 7.28 billion in 2016.
IoT Security market by application is segmented as smart home, connected car, information & communication technology, smart factories, BFSI, smart retail, smart healthcare, smart transportation, wearable and others. The growing security concern in BFSI industry sector in order to safeguard user identity and theft of financial data are some of the trends contributing to the growing IoT security market. Almost all the end-user application segment are gradually moving towards digitalization and are becoming more friendly to smart devices and internet network, which is rising the security concern and use of IoT security solution.
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Network security market comprise largest market share among all five security types and is expected to continue its dominance throughout the forecast period. The demand for network security solutions is highly influenced by rising demand for security solutions for the cloud technology. Also, intensive use of virtualization has raised the vulnerability of networks to certain threats such as, malware or defective processes that are reducing the efficiency of the hypervisor.
Key trend which will predominantly effect the IoT security market in coming year is growing appearance of Blockchain in IoT security market. Blockchain technology is capable of being used in tracking billions of connected devices, enable the processing of transactions and coordination between devices, allow for significant savings to IoT industry manufacturers. This decentralized approach is anticipated to eliminate single points of failure, creating a more resilient ecosystem for devices to run on. The cryptographic algorithms used by blockchain, is expected to make consumer data more private. The blockchain in IoT can be applied to connected vehicles, smart appliances and supply chain sensors.
The overall IoT security market size has been derived using both primary and secondary source. The IoT security market research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the IoT security market.
Some of the important players in IoT Security market are
Cisco Systems, Inc.
Trend Micro, Inc.
Cisco Systems, Inc.
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9 IoT Security Market Revenue and Forecasts to 2025 β Geographical Analysis
9.1 North America
9.1.1 North America IoT Security Market overview
9.1.2 North America IoT Security Market forecast and analysis
184.108.40.206 North America market forecast and analysis β By Countries
220.127.116.11.1 US market
18.104.22.168.2 Canada market
22.214.171.124.3 Mexico market
126.96.36.199 North America market forecast and analysis β By Type
188.8.131.52 North America market forecast and analysis β By Solution
184.108.40.206 North America market forecast and analysis β By Application
9.2.1 Europe IoT Security Market overview
9.2.2 Europe IoT Security Market forecast and analysis
220.127.116.11 Europe market forecast and analysis β By Countries
18.104.22.168.1 France market
22.214.171.124.2 Germany market
126.96.36.199.3 Italy market
188.8.131.52.4 Spain market
184.108.40.206.5 UK market
3.3.1 North America β PEST Analysis
3.3.2 Europe β PEST Analysis
3.3.3 Asia Pacific β PEST Analysis
3.3.4 Middle East and Africa β PEST Analysis
3.3.5 South America β PEST Analysis
4 IoT Security Market β Key Industry Dynamics
4.1 Impact Analysis
4.2 Key Market Drivers
4.3 Key Market Restraints
4.4 Key Market Opportunities
4.5 Future Trends
5 IoT Security Market Analysis- Global
5.1 Global IoT Security Market Overview
5.2 Global IoT Security Market forecast and analysis
6 IoT Security Market Revenue and Forecasts to 2025 βTypes
6.2 Type market forecast and analysis
6.3 Network Security Market
6.3.2 Network Security market forecast and analysis
6.4 Endpoint Security Market
6.4.2 Endpoint Security market forecast and analysis
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