Global IoT Security Market

IoT security refers to the various techniques and practices used to secure the internet of things (IoT) devices, networks, and data from unauthorized access, misuse, and attacks, such as hacking and data breaches. IoT security is crucial because, unlike computers and smartphones, IoT devices are often built with limited processing power and storage, making them more vulnerable to attacks. The global IoT security market is anticipated to increase by USD 74.4 billion till 2029 at an average annual growth of 24.05 percent as per the latest market estimates.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global IoT security market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the component, type of security, solution, organization size, end user, and region. The global market for IoT security can be segmented by component: platform, services, solutions. Globally, the solutions segment made up the largest share of the IoT security market. IoT security market is further segmented by type of security: application security, cloud security, endpoint security, network security, others. The endpoint security segment captured the largest share of the market in 2022. Based on solution, the IoT security market is segmented into: data encryption and tokenization, device authentication and management, identity access and management, intrusion detection system and prevention system, secure communications, security analytics, trusted identification, others. According to the research, the device authentication and management segment had the largest share in the global IoT security market. On the basis of organization size, the IoT security market also can be divided into: large enterprises, small and medium enterprises (SMEs). The large enterprises segment held the largest revenue share in 2022. IoT security market by end user is categorized into: automotive, energy and utilities, government and military, healthcare, manufacturing, retail and e-commerce, smart homes, others. Globally, the manufacturing segment made up the largest share of the IoT security market. The IoT security market by region can be segmented into: Asia-Pacific, Europe, North America, MEA (Middle East and Africa), Latin America. North America captured the largest share of the market in 2022.

Market Segmentation
By component: platform, services, solutions
By type of security: application security, cloud security, endpoint security, network security, others
By solution: data encryption and tokenization, device authentication and management, identity access and management, intrusion detection system and prevention system, secure communications, security analytics, trusted identification, others
By organization size: large enterprises, small and medium enterprises (SMEs)
By end user: automotive, energy and utilities, government and military, healthcare, manufacturing, retail and e-commerce, smart homes, others
By region: Asia-Pacific, Europe, North America, MEA (Middle East and Africa), Latin America

The report also provides a detailed analysis of several leading IoT security market vendors that include AT&T Inc., Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., DigiCert, Inc., Entrust Corp., ESCRYPT GmbH, Fortinet, Inc., Gemalto NV, IBM Corporation, Infineon Technologies AG, Intel Corporation, Keyfactor, Inc., Microsoft Corporation, NanoLock Security Ltd., NortonLifeLock Inc., Ordr, Inc., Palo Alto Networks, Inc., PTC Inc. (Rockwell Automation, Inc.), Rambus Inc., Sophos Group plc, Symantec Corporation, Thales S.A., Trend Micro Inc., Trustwave Holdings, Inc. (Singtel), UL LLC, Vectra AI, Inc., Verizon Communications Inc., WISeKey SA, among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.
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Scope of the Report
• To analyze and forecast the market size of the global IoT security market.
• To classify and forecast the global IoT security market based on component, type of security, solution, organization size, end user, region.
• To identify drivers and challenges for the global IoT security market.
• To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global IoT security market.
• To identify and analyze the profile of leading players operating in the global IoT security market.

Why Choose This Report
• Gain a reliable outlook of the global IoT security market forecasts from 2023 to 2029 across scenarios.
• Identify growth segments for investment.
• Stay ahead of competitors through company profiles and market data.
• The market estimate for ease of analysis across scenarios in Excel format.
• Strategy consulting and research support for three months.
• Print authentication provided for the single-user license.

Global IoT Security Market

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Global IoT Security Market - Report Scope
REPORT ATTRIBUTE

DETAILS

Base Year

2022

Forecast Year

2023-2029

CAGR (2023-2029)

24.05%

Pages

95

Key Players

AT&T Inc., Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., DigiCert Inc., Entrust Corp., ESCRYPT GmbH, Fortinet Inc., Gemalto NV, IBM Corporation, Infineon Technologies AG, Intel Corporation, Keyfactor Inc., Microsoft Corporation, NanoLock Security Ltd., NortonLifeLock Inc., Ordr Inc., Palo Alto Networks Inc., PTC Inc. (Rockwell Automation Inc.), Rambus Inc., Sophos Group plc, Symantec Corporation, Thales S.A., Trend Micro Inc., Trustwave Holdings Inc. (Singtel), UL LLC, Vectra AI Inc., Verizon Communications Inc., WISeKey SA

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