Global IoT Security Market Size to record 32% CAGR through 2028

By Sachin Pashte  | Date: January 03, 2023

Global IoT Security Market Size to record 32% CAGR through 2028

Expert analysts opine that global IoT Security Market, which was valued at USD 2.1 billion in 2021, is estimated to progress at a CAGR of 32% through the forecast period.

Increase in IoT security laws among developing economies and a surge in malware & phishing threats faced by various businesses are the major growth determinants of global IoT security market.

Moreover, rising demand for such solutions and their adoption by a number of emerging economies are expected to accelerate industry outlook in the coming years.

Request Sample copy of this Report @ https://www.marketstudyreport.com/request-a-sample/5652189/

However, budget restrictions in enterprises prompting their incapability to employ such systems that involve huge costs may hamper market development during the forecast period.

It is worth mentioning that the subsequent waves of COVID-19 appeared just after the coronavirus began to spread fast in 2020, forcing well-known companies to alter their management approaches, which had a huge impact on the markets. The already high level of global instability was further increased by the 2022 Russo-Ukrainian War and the UK's hurried exit from the European Union.

However, given the effectiveness of immunization measures, it is predicted that the global economy will pick up steam & the market will likely recover in the following years.

Based on security type, the industry is branched into cloud security, application security, end point security, network security, and others. In terms of type terrain, worldwide IoT security market is divided into services {managed security services, professional (support & maintenance, training & education, consulting & implementation)} and solutions {unified threat management, security analytics, device management, data encryption & tokenization, identity access & management, and others}.

Regionally, the latest trends are studied across Western Europe (UK, Benelux, France, Spain, Nordic, Germany, Italy, rest of Western Europe), Asia Pacific (Australia, South Korea, China, ASEAN, India, Japan, Rest of APAC), Middle East & Africa (GCC, Turkey, South Africa, Rest of MEA), Latin America (Mexico, Brazil, Rest of Latin America), Eastern Europe (Poland, Russia, rest of Eastern Europe), and North America (U.S. and Canada). Among these, North America region is likely to expand significantly during the forecast years, owing to highly developed infrastructure.

The competitive landscape of global IoT security industry is influenced by players like Palo Alto Networks, Inc., Armis Security Ltd., Mocana Corporation, MagicCube Inc., Siemens AG, Symantec Security Solutions, Trustwave Holdings, ForgeRock, Inc., Karamba Security Ltd., Fortinet Inc., Thales Group, Infineon Technologies AG, Intel Corporation, IBM Corp., and Cisco Systems Inc. Additionally, in order to obtain a competitive advantage over their rivals and take a substantial market share, these companies are employing creative tactics and forming strategic alliances.

Questions and Answers: - Global IoT Services Market

Question 1. What are the major factors driving global IoT services market trends?

Answer 1. Increase in IoT security laws among developing economies and a surge in malware & phishing threats faced by various businesses are the major growth determinants of global IoT security market.

Question 2. How is the security type category in global IoT security market divided?

Answer 2. Based on security type, the industry is branched into cloud security, application security, end point security, and network security.

Question 3. Which are the key players influencing global IoT security market dynamics?

Answer 3. The competitive landscape of global IoT security market is influenced by players like Palo Alto Networks, Inc., Armis Security Ltd., Mocana Corporation, MagicCube Inc., Siemens AG, Symantec Security Solutions, Trustwave Holdings, ForgeRock, Inc., Karamba Security Ltd., Fortinet Inc., Thales Group, Infineon Technologies AG, Intel Corporation, IBM Corp., and Cisco Systems Inc.

For More Details on This Report @ https://www.marketstudyreport.com/reports/global-iot-security-market-analysis-and-forecast-2019-2028

About Us:

Market Study Report is a hub for market intelligence products and services.

We streamline the purchase of your market research reports and services through a single integrated platform by bringing all the major publishers and their services at one place.

Our customers partner with Market Study Report, to ease their search and evaluation of market intelligence products and services and in turn focus on their company's core activities.

If you are looking for research reports on global or regional markets, competitive information, emerging markets and trends or just looking to stay on top of the curve then Market Study Report, is the platform that can help you in achieving any of these objectives.

Contact Us:

Ritesh Tiwari
Head - Press and Media
Email: [email protected]   
Phone: 1-866-764-2150
MarketStudyReport.com

About Author

Sachin Pashte     ibmag.com

Sachin Pashte

Sachin is into market research and web marketing since the last 2 years and has worked on multiple projects across various industries. He has expertise in writing promotional content for market research reports while his personal interests include the games of footbal...

Read More