DUBLIN, Aug. 16, 2019 /PRNewswire/ -- The "Global IoT Security Market: Focus on Solutions, Services, Industry and Region - Analysis and Forecast, 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global IoT security market generated $16.55 billion in 2018 and is expected to witness a CAGR of 22.26%, during the forecast period from 2019 to 2024.
Key Questions Answered in the Report:
- What was the total revenue generated by the global IoT security market in 2018 and how is it expected to grow during 2019-2024?
- What are the major driving forces, trends, challenges and growth opportunities that can tend to influence the global IoT security market during the forecast period, 2019-2024?
- Which security solution, such as network security, endpoint security, application security, and cloud security of the global IoT security market is expected to dominate during the forecast period?
- Which security service, such as consulting, maintenance, and managing of the global IoT security market is expected to dominate during the forecast period?
- What are the potential points of vulnerabilities in IoT security?
- Which industry, such as manufacturing, automotive, energy and utilities, government, and consumer electronics of the global IoT security market is expected to dominate during the forecast period?
- Which region from North America, Europe, Asia-Pacific, and Rest-of-the-World (ROW) is expected to lead the global IoT security market?
- Which are the key security solution and service providers operating in the global IoT security market?
The high growth is supported by the growing demand for cyber security regulations in the IoT ecosystem from enterprises and consumers, requiring better protection from external malware and threats. Moreover, in recent years, due to strong demand for cyber security measures from other application areas such as healthcare, government, finance, and aerospace, among others, there has been a surge in demand for faster IoT security adoption.
The IoT ecosystem revolves around extraction and analyzation of digital data from the physical world. With the launch of more number of devices, the IoT system offers many advantages, for instance, in the healthcare industry, connected medical devices allow the customers to work alongside their physicians. Similarly, in the energy and utility sector, smart meters enable energy providers to analyze consumer energy use, enable consumers to be more energy-conscious, and identify issues with home appliances.
Along with the potential benefits, IoT presents a variety of security risks which could be exploited to harm end-users by creating risks to personal safety, enabling unauthorized access and misuse of personal information, and facilitating attacks on other systems. As a result, it could be interpreted that if perceived risks to security and privacy are not realized, it could undermine the end-user confidence which is necessary for technologies to meet their full potential, thereby resulting in less widespread adoption.
The growing demand for IoT security regulations and guidelines coupled with rising security demand for critical infrastructures are some of the factors substantiating the need for cyber security measures in devices, communication channel, and cloud. Moreover, an increasing number of data breaches in the devices and networks have also led to the advent of IoT security to cater to the growing need of connected devices in industries including automotive, manufacturing, and energy and utilities, among others.
The global IoT security market is growing at a high rate and is expected to reach a substantial level by 2024. There is a huge demand emerging from the manufacturing sector for cyber security measures. The global IoT security market is presently witnessing a pattern of transition due to the increasing market demand for security regulations and measures in various industries including automotive, consumer electronics, energy and utilities, and manufacturing, among others.
Key Topics Covered:
1 Market Dynamics
1.2 Market Drivers
1.2.1 Increasing Number of Data Breaches
1.2.2 Growing Demand of IoT Security Regulations and Guidelines
1.2.3 Rising Security Demand for Critical Infrastructure
1.3 Market Restraints
1.3.1 Growing Complexity Among IoT Devices
1.3.2 Lack of IoT Security Skill Sets and Awareness Within the Organization
1.4 Market Opportunities
1.4.1 Integration of Blockchain in IoT Security
1.4.2 Role of Machine Learning in IoT Security
2 Competitive Insights
2.1 Key Strategies and Developments
2.1.1 Product Launches
2.1.2 Partnerships and Collaborations
2.1.3 Business Expansions
2.1.4 Mergers and Acquisitions
2.1.5 Other Developments
2.2 Market Ranking
3 Industry Analysis
3.1 Potential Points of Vulnerabilities in IoT System
3.2 Guidepost for Stronger IoT Security
3.3 Asset Taxonomy
3.4 Threat Taxonomy
3.8 Patent Analysis
3.9 Value Chain Analysis
4 Global IoT Security Market (by Classification), Analysis and Forecast
4.1 Assumptions and Limitations
4.2 Market Overview
4.3 Global IoT Security Market (by Solution)
4.3.1 Market Overview
4.3.2 Network Security
4.3.3 Endpoint Security
4.3.4 Application Security
4.3.5 Cloud Security
4.4 Global IoT Security Market (by Service)
4.4.1 Market Overview
4.4.2 Consulting Services
4.4.3 Maintenance Services
4.4.4 Managed Services
5 Global IoT Security Market, (by Industry)
5.1 Market Overview
5.3 Energy and Utilities
5.5 Consumer Electronics
6 Global IoT Security Market (by Region)
7 List of 500 Companies Active in IoT Security Market
8 Report Scope and Methodology
For more information about this report visit https://www.researchandmarkets.com/r/gyg85z
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