IoT Security Market Forecast to 2028

The IoT Security Market Analysis includes information on market size, market share, revenue growth, and CAGR from 2021 to 2028. The study includes a thorough SWOT analysis, a Porter's Five Forces analysis, and a feasibility analysis to provide readers with a competitive edge. Important details on the top companies in the market are also included. The report's key topics are the current pandemic's recent trends, significant challenges, prospects, and limitations.

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 the latest analysis by Emergen Research. The increasing number of malware and ransomware attacks and the development and deployment of more efficient solutions are expected to drive the growth of the global IoT security market to a significant extent during the forecast period. Increasing regulations for IoT security are expected to further propel the global IoT security market's growth over the forecast period. Rising emphasis among governments in developing countries on the 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 global IoT Security market report employs an extremely extensive and perceptive process that analyzes statistical data relating to services and products offered in the market. The research study is a pivotal document in understanding the needs and wants of the clients. The report is comprised of significant data about the leading companies and their marketing strategies. The IoT Security industry is witnessing an expansion and change of dynamics owing to the entry of several new players.

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.

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

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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.

Market Overview:

The report bifurcates the IoT Security market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

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

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

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The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.

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)

Furthermore, the report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams. This enables readers to understand the market scenario in an easy and beneficial manner. Moreover, the report aims to impart a prospective outlook and draw an informative conclusion to assist the reader in making lucrative business decisions. The report, in conclusion, provides a detailed analysis of the segments expected to dominate the market, the regional bifurcation, the estimated market size and share, and comprehensive SWOT analysis and Porter’s Five Forces Analysis.

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