Vancouver, BC -- (SBWIRE) -- 04/22/2021 -- The global IoT security market is expected to reach a market size of USD 88.09 Billion by 2028 and register a high revenue CAGR, according to latest analysis by Emergen Research. Increasing number of malware and ransomware attacks and development and deployment of more efficient solutions is expected to drive growth of the global IoT security market growth to a significant extent during the forecast period. Increasing regulations for IoT security is expected to further propel the global IoT security market growth over the forecast period. Rising emphasis among governments of developing countries for development of smart cities is also expected to boost growth of the global IoT security market during the forecast period.

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The report highlights the current impact of COVID-19 on the IoT security market along with the latest economic scenario and changing dynamics of the market. It analyzes the impact of the pandemic on market growth and remuneration. The pandemic has changed the economic scenario of the world and has affected several sectors of the market. The report estimates the market for IoT security according to the impact of COVID-19.

Key Highlights of Report

In terms of revenue share, the consumer electronics segment is expected to lead among other end-user segments during the forecast period due to increasing adoption of IoT based consumer electronics globally.

Increasing adoption of IoT security solutions across various industries, including retail, healthcare, and logistics, and robust presence of international companies including Cisco Systems, Inc., Intel Corporation, and Broadcom Inc. in countries in North America are key factors expected to drive growth of the market in the region.

Key players in the market include International Business Machines Corporation, Cisco Systems, Inc., Intel Corporation, Siemens AG, Infineon Technologies AG, Broadcom Inc., Fortinet Inc., Palo Alto Networks, Inc., Mocana Corporation, and Karamba Security Ltd.

In June 2020, Cisco Systems, Inc. announced global launch of Cisco SecureX, which is a comprehensive yet embedded cloud-native security framework that includes Cisco Security solutions to streamline and improve the management of security by clients.

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Emergen Research has segmented the global IoT security market on the basis of type, component, end-use, and region.

Type Outlook (Revenue, USD Billion; 2021–2028)
Cloud Security
Network Security
Application Security
Endpoint Security
Others

Component Outlook (Revenue, USD Billion; 2021–2028)
Services
Managed Services
Professional Services
Solutions
Encryption
Unified Threat Management
Analytics
Identity & Access Management
Data Loss Protection
Others

End-use Outlook (Revenue, USD Billion; 2021–2028)
Retail
Manufacturing
Defense
Government
Consumer Electronics
Energy & Utilities
Logistics & Transportation
Others

Detailed Regional Analysis covers:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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The report demonstrates the progress and advancement achieved by the global IoT Security market, including the historical analysis and progress through forecast years. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals. The report provides an accurate estimation by applying SWOT analysis and Porter's Five Forces analysis.

Key Benefits of Buying the Global IoT Security Report:

Comprehensive analysis of the changing competitive landscape
Assists in decision making processes for the businesses along with detailed strategic planning methodologies
The report offers an 8-year forecast and assessment of the Global IoT Security Market
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends, and opportunities
Comprehensive regional analysis of the Global IoT Security Market
Extensive profiling of the key stakeholders of the business sphere
Detailed analysis of the factors influencing the growth of the Global IoT Security Market

Table of Content

Chapter 1. Methodology & Sources

    1.1. Market Definition

    1.2. Research Scope

    1.3. Methodology

    1.4. Research Sources

          1.4.1. Primary

          1.4.2. Secondary

          1.4.3. Paid Sources

    1.5. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2020-2028

Chapter 3. Key Insights

Chapter 4. IoT Security Market Segmentation & Impact Analysis

    4.1. IoT Security Market Segmentation Analysis

    4.2. Industrial Outlook

          4.2.1. Market indicators analysis

          4.2.2. Market drivers analysis

                    4.2.2.1. Increasing number of malware and ransomware attacks

                    4.2.2.2. Growing safety issues on critical infrastructure

                    4.2.2.3. Rising data vulnerability in IoT networks

                    4.2.2.4. Increasing regulations for IoT security.

          4.2.3. Market restraints analysis

                    4.2.3.1. The high cost of IoT security solutions

                    4.2.3.2. Lack of awareness about IoT security solutions among end-users

    4.3. Technological Insights

    4.4. Regulatory Framework

    4.5. Porter's Five Forces Analysis

    4.6. Competitive Metric Space Analysis

    4.7. Price trend Analysis

    4.8. Covid-19 Impact Analysis

Chapter 5. IoT Security Market By Type Insights & Trends Revenue (USD Billion) 

    5.1. Type Dynamics & Market Share, 2020 & 2028

          5.1.1. Cloud Security

          5.1.2. Network Security

          5.1.3. Application Security

          5.1.4. Endpoint Security

          5.1.5. Others

Chapter 6. IoT Security Market By Component Insights & Trends Revenue (USD Billion) 

CONTINUED…!

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