Global IoT Security Market

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Global IoT Security Market is expected to reach at a CAGR of about 40 % during a forecast period of 2017-2026. IoT Security Market is segmented by security type, device type, solution, application, power source and Region. Based on the security market is divided into Cloud security, Network security, Endpoint security, Application security, Wireless security. Solution type is classified as Identity Access Management, Intrusion Detection System, Distributed Denial of Service Protection, and Security Analytics. Service type is further segmented into Consulting, Maintenance, and Training. Application of the market are Smart Manufacturing, Smart Government and Defence, Smart Energy and Utilities, Consumer Wearable’s, Connected Healthcare, Connected Vehicles, Connected Logistics, Smart Retail. Region wise into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. The need for regulatory compliance is one of the major factors driving the market growth. With a huge amount of digital information being transferred between people, the government of several economies are taking steps to secure networks from hackers and virus threats by establishing strict regulatory structure. The emergence of the smart city concept is expected to offer a sound opportunity for the market growth in the forecast period. Governments in the developed economies have already taken steps to develop smart cities by developing Wi-Fi hotspots at multiple locations within a city. Based on security, Network security is expected to hold the largest market share. Networking is the backbone of IoT ecosystem and rising number of network protocols is one of the major reason for the growth of network security. Network security deals with securing the complex IoT network which connects IoT devices to back-end support systems on the internet, Wireless communication is carried out with the help of various secure protocols such as LPWAN, Zig-bee, 6LowPAN, Bluetooth, Z-Wave, and NFC. Technologies such as Bluetooth Low Energy, IEEE 802.15.4, and IEEE 802.11ah plays a significant role in IoT connectivity. Innovation and increasing use of 2G, 3G, and 4G Long-Term Evolution (LTE) wireless networks have in turn also made these networks increasingly susceptibility to cyber-attacks. In terms of region, North America is expected to hold the largest market share in the IoT security market Growing adoption of IoT in a single smart UI of smartphones, PCs, and tablets and rising cybercrimes will foster the North America IoT security market. Demand for integrated IoT security solutions in various sectors such as government, defence and healthcare in Asia Pacific countries will propel Global IoT Security Market growth in the region. Some of the companies operating in the Global IoT Security market are AgilePQ, ARXAN, Aspirantz InfoSec, AT&T, Inc., BehavioSec, BESTILLE, Block Armour, BLUE RIDGE NETWORKS, CAT CyberLabs, Check Point Security Software Ltd., Cisco, COVATA, Cryptosense,, Cyber Octet, Darktrace, Detectify, Digicert, ENTRUST DATACARD, Fire Eye Inc., FORGEROCK, Gemalto, Global Sign, Hoccer, IBM Corp., ICON LABS, Indegy, Infineon AG, Karamba Security, MOCANA, Protonet, PTC, PwC Cyber Services LLC., Rambus Inc, Scytl, Shift Technology’s, SHIMMER, Silent Circle, Symantec Corporation, Telegram, TELOSB, ThetaRay, ThreatBook, ThreatInformer, Trend Micro, Inc., Trillium Incorporated, Trustwave, Verizon Enterprises Solutions, ZenMate.