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.

In-depth primary and secondary research, as well as qualitative and quantitative analysis of significant market segments, were used to produce this report on the global market for IoT Security. The ingenious knowledge is also supported and verified by experts in the field. The study aims to provide more details on the market environment as a whole for the industry of IoT Security.

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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.

The leading market contenders listed in the report are:

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

Target Audience of the Global IoT Security Market Report:

• Key Market Players
• Investors
• Venture capitalists
• Small- and medium-sized and large enterprises
• Third-party knowledge providers
• Value-Added Resellers (VARs)
• Global market producers, distributors, traders, and suppliers
• Research organizations, consulting companies, and various alliances interested in this sector
• Government bodies, independent regulatory authorities, and policymakers

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Major Geographies Analyzed in the Report:

• 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)

Market Segmentations of the IoT Security Market

This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2021 and 2028. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global IoT Security market on the basis of product, application, and region:

Segments Covered in this report are:

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

• Component Outlook (Revenue, USD Billion; 2021–2028)
• Services
1. Managed Services
2. Professional Services
• Solutions
1. Encryption
2. Unified Threat Management
3. Analytics
4. Identity Access Management
5. Data Loss Protection
6. Others

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

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Key Highlights of Report

• Increasing trend of companies adopting Bring Your Own Device trend and IoT security threat to organizations’ networks is a factor driving revenue growth of the network security segment currently, which is expected to register a significantly high CAGR of 26.7% over the forecast period.
• In terms of revenue share, the solution segment is expected to lead during the forecast period due to increasing need for security solutions across various industries.
• 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.

Additional information offered by the report:

• Along with a complete overview of the global IoT Security market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
• The report elaborates on the global IoT Security market size and share governed by the major geographies.
• It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
• It further presents a detailed description of the company profiles of the key market contenders.

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