Global Internet of Things (IoT) Security Market is valued approximately at USD 2.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 29.7% over the forecast period 2020-2027. In 21st century, IoT is considered as one of the most pivotal technology trends and has attracted the attention of various companies of different domains around the world. The growing integration of IoT in wireless networking, machine learning, and artificial intelligence, aligned with the advancement of microcontroller and sensors, has driven the need for IoT security for consistent operations of the technology. Usually, IoT security is the field of technology that is concerned with eliminating cyber threats associated with networks and connected devices operated through IoT technology. The growing usage of IoT connected devices has left organization devices and networks susceptible to security breaches, thus the utility for the Internet of Things (IoT) Security is significantly growing all over the world. Furthermore, the increasing investment and spending on IoT development, rising penetration of smart devices around the world, and growing number of regulations for IoT security are the few factors responsible for the CAGR of the market during the forecast period. According to the International Data Corporation (IDC), in 2019, Germany is exceeding the IoT development and spending with USD 35.5 billion, followed by France (USD 25.6 billion) and the UK (USD 25.5 billion) Similarly, as per the China’s Ministry of Industry and Information Technology, the industrial IoT market in China is growing by about 25% per annum and is set to reach almost 300 billion yuan (47 billion) in 2018. As a result, these huge investments in IoT are highly motivating several industrial verticals to use IoT security solutions & services, thereby aiding the growth of the segment in the forecasting years. However, the high cost of IoT security solutions, along with growing new variants of IoT threats are the few factors impeding the market growth over the forecast period of 2020-2027.

The regional analysis of the global Internet of Things (IoT) Security market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the intensified penetration for smart devices, early adoption of IoT security solution, and significant presence of new technology-based vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising initiatives for the development of smart cities and smart homes, along with increasing spending on IoT technology in developing countries, such as China and India, would create lucrative growth opportunities for the market growth in the Asia-Pacific region.

Major market player included in this report are:
Cisco Systems, Inc.
International Business Machines Corporation
Infineon Technologies AG
NortonLifeLock Inc.
Gemalto
Trend Micro Inc.
Arm holdings
NXP Semiconductors N.V.
Intel Corporation
Inside secure

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Solution:
Analytics
Encryption
Data Loss Protection
Identity and Access Management
Others

By Service:
Professional Service
Managed Service

By Security Type:
Application Security
Cloud Security
Endpoint Security
Network Security
Others

By Application:
Healthcare & Life Science
Infrastructure & Cities
Smart Home & Consumer
Industrial System & Sensors
Transport & Urban Mobility
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Internet of Things (IoT) Security Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors