Key Findings
The global IoT security market is set to project a CAGR of 21.99% during the forecast period, 2021-2026. The increasing demand for IoT applications, growing cyber-attacks, rising awareness of secure IoT network, and industrial automation in the manufacturing sector, are factors estimated to propel market growth.

Market Insights
IoT (Internet of Things) has become an integral part of digitization across several industries, encompassing all processes, from shopping to travel. As a result, there is an increasing awareness regarding secure IoT networks. The enhancement of IoT devices, increased geo-location capabilities, and access control based on facial recognition, are among the several benefits provided by IoT security solutions. Also, benefits like performance & customer satisfaction monitoring, inventory control, access control, predictive machine maintenance, and temperature management, are fueling the demand for IoT security solutions. Moreover, in the UK, 48% of organizations adopted IoT security for breach detection in IoT devices. Further, the other factors driving the market growth include the mitigation of risks through the optimization of complex decisions of unplanned events like cyberattacks. However, the complexities involved in the IoT and slow developments on the regulations front, hamper the market growth.

Regional Insights
The global IoT security market growth analysis entails the assessment of North America, Europe, Asia Pacific, and rest of world. North America is projected to dominate the global market. The technological advancements and the wide implementation of cybersecurity solutions are among the major factors that help develop the market prospects of the region.

Competitive Insights
The competitive rivalry in the market is designated by moderate/high product differentiation, intense competition, and high levels of product penetration. Some of the leading players in the market are, Palo Alto Networks Inc, Microsoft Corporation, IBM Corporation, Fortinet Inc, etc.
Our report offerings include:

  • Explore key findings of the overall market
  • Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
  • Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
  • Market Segmentation cater to a thorough assessment of key segments with their market estimations
  • Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
  • Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
  • Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
  • Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments