An Incisive, In-depth Analysis on the Internet Of Things Security Products Market
This study offers a comprehensive, 360 degree analysis on the Internet Of Things Security Products market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Internet Of Things Security Products market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Smart Grid application segment to cement its dominance in the global Internet of Things (IoT) Security Product market in the coming years
Internet of Things (IoT) refers to rapidly expanding network of electronic devices having IP address or physical address for providing Internet connectivity, which enables communication between these IoT devices and other Internet enabled systems over the network. IoT brings Internet connectivity beyond the traditional devices, such as laptop, computers, smart phones and tablets, to various range of products used in everyday life. These products use embedded technology and are able to communicate with the external environment with the help of Internet. At the same time, this connectivity also poses certain challenges in the form of the provision of unauthorized access to people or hackers, who could intrude into the organization’s infrastructure by hacking the main controlling device. In order to address this issue, implementation of IoT security in the IoT infrastructure of organizations and individuals is increasingly becoming a primary necessity as these products help in securing their infrastructure and data.
Increasing collaborations and partnerships in the North America region fostering revenue growth of the IoT security product market
In order to offer cutting-edge technology and to cater to the rising demand for IoT among businesses, prominent players in the IoT space are focussing on entering into partnerships and collaborations with other players in the IoT market. Various connected devices manufacturers such as Cisco Systems Inc., telecommunication network solution providers such as AT&T Inc., and technology companies such as IBM Corporation are opting to offer smart solutions for advanced data analytics by utilising IoT platforms.
Future Market Insights forecasts revenue from the global IoT security product market to increase from US$ 12 Bn in 2017 to about US$ 48 Bn by 2027 end, representing a CAGR of 14.9% from 2017 to 2027. This increasing revenue growth is attributed to continuous launching of IoT security offerings and emergence of niche players in the market. Moreover, an increasing number of service providers is also supporting revenue growth of this market.
Government initiatives in smart cities projects
Government organisations of various countries have partnered with major technology companies for implementing IoT across urban cities. These organisations are also providing funds for the development of IoT applications to technology vendors. Due to increasing smart city projects, the adoption of sensor applications is rising significantly. A growing number of connected devices is expected to fuel demand for IoT security in North America. For instance, the U.S. government invested US$ 8.8 Bn in 2015 in IoT for infrastructure, software and cyber security solutions.
Growing intensity of cyber-attacks on IoT devices and networks
Growing number of devices connected to each other via IoT has resulted in increasing vulnerability in terms of security of the entire IoT ecosystem. Increasing intensity of cyber-attacks on IoT networks and devices has prompted solution providers to focus more on security aspects, which is driving market demand for IoT security solutions globally. In December 2016, Dyn Inc., which is a U.S. based managing domain name system (DNS) Infrastructure Company, witnessed a Distributed Denial of Service (DDoS) attack from a malware known as Mirai botnet, wherein a number of interconnected IoT devices were being used to conduct cyber-attacks, resulting in disruption of Internet services across the U.S.
Non-adherence to guidelines issued by governing authorities deterring the growth of the IoT security product market
Although a number of governing authorities have issued guidelines to be followed by IoT device manufacturers so as to protect against cyber-attacks on IoT networks and devices, many device manufacturers and users are not strictly adhering to these guidelines and taking precautionary measures. Non-adherence to these guidelines results in security lapses, which cyber attackers can take advantage of and this creates challenges for IoT security solution providers. This factor is expected to hamper growth of the IoT security product market to a large extent.
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Global IoT Security Product Market Attractiveness, By Application, 2017-2027
In terms of value, the smart grid segment is projected to be the most attractive in the global IoT security product market during the forecast period. However, the home and building automation segment is expected to register high Y-o-Y growth rates throughout the forecast period. In terms of value, the home and building automation segment is expected to register a CAGR of 16.2% during the forecast period. In 2016, the smart grid segment was valued at US$ 3,697.8 Mn and is expected to witness steady growth in terms of revenue throughout the forecast period.
Frequently Asked Questions about Internet of Things (IoT) Security Product Market
What are the future prospects of Internet of Things (IoT) Security Product market?
Growing number of devices connected to each other via IoT has resulted in increasing vulnerability in terms of security of the entire IoT ecosystem. Increasing intensity of cyber-attacks on IoT networks and devices has prompted solution providers to focus more on security aspects, which is driving market demand for IoT security solutions globally.
What are the major challenges for Internet of Things (IoT) Security Product Market?
Although a number of governing authorities have issued guidelines to be followed by IoT device manufacturers so as to protect against cyber-attacks on IoT networks and devices, many device manufacturers and users are not strictly adhering to these guidelines and taking precautionary measures.
Which application will have significant revenue growth in the next five years?
The smart grid application has been considered as largest revenue growth in the next five years due to continuous development of the IoT and innovation and encouraging adoption and use of evolving technologies in smart grid application.
What are the major opportunities for Internet of Things (IoT) Security Product market?
Increasing demand for endpoint security solution for IoT devices, which is a major opportunities for the Internet of Things (IoT) security product market
Which region is expected to be at forefront in the Internet of Things (IoT) Security Product market?
Increasing number of IoT- enabled smart connected devices, which is, in turn, boosting the growth of the Internet of Things (IoT) security product market in East Asia region.
Who are the major companies leading Internet of Things (IoT) Security Product market?
Prominent companies in the Internet of Things (IoT) Security Product market includes International Business Machines Corporation, Cisco Systems, Inc., Intel Corporation, Check Point Software Technologies, Trend Micro Inc., Infineon Technologies AG, Symantec Technology Ltd., Sophos Group Plc., Palo Alto Networks, Inc., Arm Holdings, and among others.
Internet of Things (IoT) Security Product Market: Global End-user Analysis 2015-2019 and Opportunity Assessment 2020-2030
A recent market study published by FMI on the Internet of Things (IoT) security product market includes a global end-user analysis for 2015-2019 and opportunity assessment for 2020-2030, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical as well as current growth parameters, growth prospects of the market are obtained with maximum precision.
Internet of Things (IoT) Security Product Market: Segmentation
The global Internet of Things (IoT) security product market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.
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Report Chapters
Chapter 01 - Executive Summary
The report commences with the executive summary of the Internet of Things (IoT) security product market, which includes a summary of the key findings and statistics of the market. It also includes the dominating segments in the global Internet of Things (IoT) security product market. In addition, it includes the graphical representation of the segments according to market size and growth rate.
Chapter 02 - Market Introduction
Readers can find a detailed taxonomy and definition of the Internet of Things (IoT) security product market in this chapter, which will help them understand the basic information about the Internet of Things (IoT) security product market. This section also highlights the inclusions and exclusions, which help the reader understand the scope of the Internet of Things (IoT) security product market report.
Chapter 03 - Global Internet of Things (IoT) Security Product Market: Market Background
This chapter explains the key macroeconomic factors that are expected to influence the growth of the Internet of Things (IoT) security product market over the forecast period. Along with macroeconomic factors, this section also highlights the opportunity analysis of the Internet of Things (IoT) security product market. This chapter also highlights the key market dynamics of the Internet of Things (IoT) security product market, which include the drivers and restraints. Moreover, readers will understand the key trends followed by the leading providers in the Internet of Things (IoT) security product market.
Chapter 04 - Global Internet of Things (IoT) Security Product Market: Market Forecast
This section explains the global market value analysis and forecast for the Internet of Things (IoT) security product market. It includes the detailed analysis of the historical Internet of Things (IoT) security product market, along with an opportunity analysis of the future. Readers can also find the absolute opportunity for the current year (2020 - 2030), and an incremental opportunity for the forecast period (2020 - 2030).
Chapter 05 - Global Internet of Things (IoT) Security Product Market Analysis 2015 - 2019 & Forecast 2020 - 2030 by Component
Based on component, the Internet of Things (IoT) security product market is segmented into hardware, and software. In this chapter, readers can find information about the key attractive segments during the forecast period.
Chapter 06 - Global Internet of Things (IoT) Security Product Market Analysis 2015 - 2019 & Forecast 2020 - 2030 by Deployment Type
Based on deployment type, the Internet of Things (IoT) security product market is segmented into end-point or device security, network security, identity and access management, vulnerability management, messaging security, web security among others. In this chapter, readers can find information about the key attractive segments during the forecast period.
Chapter 07 - Global Internet of Things (IoT) Security Product Market Analysis 2015 - 2019 & Forecast 2020 - 2030 by Application
Based on application, the Internet of Things (IoT) security product market is segmented into Machine-to-Machine (M2M) communication, smart grid, home and building automation, wearable computing devices, Vehicle-to-Vehicle (V2V) communication. In this chapter, readers can find information about the key attractive segments during the forecast period.
Chapter 08 - Global Internet of Things (IoT) Security Product Market Analysis 2015 - 2019 & Forecast 2020 - 2030 by Vertical
Based on vertical, the Internet of Things (IoT) security product market is segmented into consumer goods and retail, manufacturing, transportation and logistics, healthcare, energy and utility and others.
Chapter 09 - Global Internet of Things (IoT) Security Product Market Analysis 2014 - 2018 & Forecast, 2020 - 2030 by Region
This chapter explains how the Internet of Things (IoT) security product market is expected to grow across various geographical regions such as North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa (MEA).
Chapter 10 - North America Internet of Things (IoT) Security Product Market Analysis 2015 - 2019 & Forecast, 2020 - 2030
This chapter includes a detailed analysis of the growth of the North American Internet of Things (IoT) security product market, along with a country-wise assessment that includes the U.S. and Canada. Readers will also find some of key points on the basis of estimated market size of Internet of Things (IoT) security product.
Chapter 11 - Latin America Internet of Things (IoT) Security Product Market Analysis 2015 - 2019 & Forecast, 2020 - 2030
Readers can find detailed information about several factors, such as the pricing analysis and the regional trends, which are impacting the growth of the Latin America Internet of Things (IoT) security product market. This chapter also includes the growth prospects of the Internet of Things (IoT) security product market in leading countries such as Brazil, Mexico, and the Rest of Latin America.
Chapter 12 - Europe Internet of Things (IoT) Security Product Market Analysis 2015 - 2019 & Forecast, 2020 - 2030
Important growth prospects of the Internet of Things (IoT) security product market based on the solution and the end-user industry in several countries, such as Germany, France, Spain, Italy, the UK, BENELUX, and the Russia, are included in this chapter.
Chapter 13 - East Asia Internet of Things (IoT) Security Product Market Analysis 2015 - 2019 & Forecast, 2020 - 2030
China, South Korea & Japan, are the leading countries in the East Asia region, which are the prime subjects of assessment to obtain the growth prospects of the East Asia Internet of Things (IoT) security product market in this chapter. Readers can find detailed information about the growth parameters of the East Asia Internet of Things (IoT) security product market during the period 2020-2030.
Chapter 14 - South Asia & Pacific Internet of Things (IoT) Security Product Market Analysis 2015 - 2019 & Forecast, 2020 - 2030
In this chapter, India, ASEAN Countries, Australia & New Zealand are among the leading countries in the South Asia & Pacific region, which are the prime subjects of assessment to obtain the growth prospects of the South Asia & Pacific Internet of Things (IoT) security product market.
Chapter 15 - Middle East & Africa Internet of Things (IoT) Security Product Market Analysis 2015 - 2019 & Forecast, 2020 - 2030
This chapter provides information about how the Internet of Things (IoT) security product market will grow in major countries in the MEA region, such as GCC Countries, South Africa, and Turkey during the forecast period 2020 - 2030.
Chapter 16 - Competition Analysis
In this chapter, readers will find a comprehensive list of all leading service provider in the Internet of Things (IoT) security product market, along with detailed information about each company, including company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are International Business Machines Corporation, Cisco Systems, Inc., Intel Corporation, Check Point Software Technologies, Trend Micro Inc., Infineon Technologies AG, Symantec Technology Ltd., Sophos Group Plc., Palo Alto Networks, Inc., Arm Holdings, and among others.
Chapter 17 - Assumptions and Acronyms
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the Internet of Things (IoT) Security Product report.
Chapter 18 - Research Methodology
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information about the Internet of Things (IoT) Security Product market.
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