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$35 Bn IoT Security Market by Type, Component, Solution, Service, Application Area, and Region - Global Forecast to 2023

Dublin, April 26, 2019 (GLOBE NEWSWIRE) -- The "IoT Security Market by Type (Network Security & Cloud Security), Component, Solution (Identity Access Management, Security Analytics, & Device Authentication & Management), Service, Application Area, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.


The global IoT security market is expected to grow from USD 8,220.0 million in 2018 to USD 35,152.2 million by 2023, at a Compound Annual Growth Rate (CAGR) of 33.7% during the forecast period.

In the last decade, the world has witnessed numerous changes in industries, such as manufacturing, energy and utilities, transportation, logistics, and healthcare. The most known change is digitalization, the adoption of digital technologies. Cell phones have become commonplace, tablets have replaced spiral notebooks in schools, and companies are developing next-gen technologies, such as driverless cars and drones. Everything is connected now especially for businesses.

With the growth of the internet and networking, the communication and management of any number of devices from a single place has become possible. IoT provides the control of various connected devices into a single smart device, such as a smartphone, PC, and tablet. At the same time, it provides an opportunity for hackers to infiltrate the entire infrastructure by hacking the controlling device. Hence, IoT security has become essential for organizations, governments, utilities, and individuals for the protection of data and infrastructure, and is gaining traction in day-to-day deployment.

One of the main challenges faced by the IoT security market is that IoT devices were not built with security in mind. In the majority of cases, there is no way to install the security on the device itself. In addition, they sometimes have malware on them, which then infects the network they are connected to. Several networks do not have the ability to detect IoT devices connected to them and/or the visibility to know what devices are communicating through the network.

IoT security can only be accomplished with an integrated solution that delivers visibility, segmentation, and protection throughout the entire network infrastructure. Connected devices can give businesses a real boost, but anything that is connected to the internet can be vulnerable to cyber-attacks. These devices deal with a large amount of data transfer that is crucial from the user's perspective. This is enforcing most of the IT professionals to give high priority to the IoT security solutions and services.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Market
4.2 Global IoT Security Market, Top 2 Types and Regions
4.3 Market By Region
4.4 Market Global Revenue Share

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Number of Ransomware Attacks on IoT Devices to Be A Critical Threat Across the Globe
5.2.1.2 Growing Number of IoT Security Regulations
5.2.1.3 Rising Security Concerns for Critical Infrastructure
5.2.2 Restraints
5.2.2.1 Significant Increase in New Variants of IoT Threats and Lack of Awareness
5.2.2.2 Expensive IoT Security Solutions and Budget Constraints Among SMEs
5.2.3 Opportunities
5.2.3.1 Increasing Data Risk in IoT Networks
5.2.3.2 Growing Need for IoT Security Solutions With Multiplying Variants of Attacks
5.2.4 Challenges
5.2.4.1 Lack of Understanding About Security Risks and Low-Security Budget
5.2.4.2 Lack of Standardization for IoT Solutions
5.3 Regulatory Implications
5.3.1 ISO Standards
5.3.2 ISO/IEC JTC 1
5.3.2.1 ISO/IEC JTC 1/SWG 5
5.3.2.2 ISO/IEC JTC 1/SC 31
5.3.2.3 ISO/IEC JTC 1/ SC 27
5.3.2.4 ISO/IEC JTC 1/WG 7 Sensors
5.3.3 IEEE
5.3.4 CEN/ISO
5.3.5 CEN/CENELEC
5.3.6 ETSI
5.3.7 ITU-T
5.3.8 NIST
5.4 Use Cases
5.4.1 Symantec
5.4.2 Zingbox
5.4.3 Mocana
5.4.4 Trend Micro

6 IoT Security Market, By Component
6.1 Introduction
6.2 Solutions
6.2.1 Solutions Help Customers Meet Specific IoT Security Requirements
6.3 Services
6.3.1 Services Enable Customers to Safeguard the IoT Environment

7 Market, By Type
7.1 Introduction
7.2 Network Security
7.2.1 High Level of Data Transfer From IoT Devices to Increase the Demand for Network Security Solutions in the IoT Security Market
7.3 Endpoint Security
7.3.1 Large Number of IoT Devices Deployed on Networks Enforces Enterprises to Adopt Endpoint Security Solutions
7.4 Application Security
7.4.1 Increasing IoT Application Vulnerabilities and Convenience of End-User Enterprises to Drive the Demand for Application Security
7.5 Cloud Security
7.5.1 Large Amount of Data Generated From IoT Devices to Increase Security Concerns
7.6 Others

8 Market, By Solution
8.1 Introduction
8.2 Identity Access and Management
8.2.1 Increasing Attacks on IoT Devices to Increase the Demand for Identity Access and Management Solutions
8.3 Data Encryption and Tokenization
8.3.1 Increasing Concerns of Data Security to Drive the Growth of Data Encryption and Tokenization Segment in the IoT Security Market
8.4 Intrusion Detection System and Intrusion Prevention System
8.4.1 Security Vulnerabilities in the IoT Ecosystem to Increase the Demand for Intrusion Detection and Prevention System Solutions
8.5 Device Authentication and Management
8.5.1 Adoption of Different Types of IoT Devices on A Single Platform to Increase Data Security Concerns
8.6 Secure Software and Firmware Update
8.6.1 Need for Robust and Safe IoT Environment to Increase the Demand for Secure Software and Firmware Update Solutions
8.7 Secure Communications
8.7.1 Increasing Data Transfer Between IoT Devices to Enforce Enterprises to Adopt Secure Communications Solutions for Securing IoT Devices
8.8 Public Key Infrastructure Lifecycle Management
8.8.1 Public Key Infrastructure to Help Enterprises Manage Security of a Large Number of IoT Devices
8.9 Distributed Denial of Service Protection
8.9.1 Increasing Sophisticated Distributed Denial of Service Attacks on IoT Devices to Surge the Demand for Distributed Denial of Service Protection Solutions
8.10 Security Analytics
8.10.1 Increasing Threats and Attacks on IoT Devices to Drive the Growth of Security Analytics Solutions
8.11 Others

9 IoT Security Market, By Service
9.1 Introduction
9.2 Professional Services
9.2.1 Integration Service
9.2.1.1 Growing Need for Deploying IoT Security Solutions Across Platforms to Increase the Demand for Integration Services
9.2.2 Consulting Service
9.2.2.1 Rising Technological Advancements Across Industries to Increase the Need for Consulting Services
9.2.3 Support and Maintenance Service
9.2.3.1 Need for Continuous Maintenance and Software Updates to Increase the Demand for Support and Maintenance Services
9.3 Managed Services
9.3.1 Rising Niche Requirements From Customers to Increase the Demand for Managed Services

10 Market, By Application Area
10.1 Introduction
10.2 Smart Manufacturing
10.2.1 Rise of Industrial IoT and Industry 4.0 Standards Enable Manufacturing Enterprises to Deploy IoT Devices at A Significant Scale
10.3 Smart Energy and Utilities
10.3.1 Malware Injections, Denial of Service, Attacks on Privacy, and Thefts of Data and Energy to Drive the Growth of the Market in the Energy and Utilities Industry
10.4 Connected Logistics
10.4.1 Increasing Trend of Connected Logistics to Drive the Growth of Security Solutions
10.5 Smart Home and Consumer Electronics
10.5.1 Vulnerability of Consumer Electronics to Increase the Demand for IoT Security Solutions
10.6 Connected Healthcare
10.6.1 Increasing Number of Connected Medical Devices to Significantly Contribute to the Growth of IoT Security in Healthcare
10.7 Smart Government and Defense
10.7.1 Increasing Adoption of Digital Solutions and Technologies in Government and Defense Industry to Lead the Demand for IoT Security Solutions and Services
10.8 Smart Transportation
10.8.1 Increasing Number of Connected Cars, Fleet Trucks, and Containers to Drive the Growth of the Market
10.9 Smart Retail
10.9.1 High Risk of Attacks on Monitory Transactions in Retail to Increase the Demand for IoT Security Solution
10.10 Others

11 IoT Security Market, By Region

12 Competitive Landscape
12.1 Overview
12.2 Competitive Leadership Mapping (Overall Market)
12.3 Competitive Leadership Mapping Overview (Startup)
12.4 Competitive Scenario

13 Company Profiles
13.1 Cisco
13.2 IBM
13.3 Intel
13.4 Infineon
13.5 Symantec
13.6 Gemalto
13.7 Allot
13.8 Fortinet
13.9 Zingbox
13.10 Mocana
13.11 Securithings
13.12 CENTRI
13.13 Armis
13.14 Forgerock
13.15 Newsky

For more information about this report visit https://www.researchandmarkets.com/r/73u9y6

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Related Topics: Internet of Things and M2M