Global IoT Security Market Size Study, By Type, Application, And Regional Forecasts 2029Posted by Karthik Pilla on September 15th, 2022 Bharat Book Bureau Provides the Trending Market Research Report on “IoT Security Market by Component (Solutions, Services), Type (Network Security, Cloud Security), Deployment Mode, Organization Size, Application (Smart Manufacturing, Smart Retail), End-use Industry (Manufacturing, Retail, and Others) - Global Forecast to 2029” under the Services Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence, and Market reports.
IoT Security Market by Component (Solutions, Services), Type (Network Security, Cloud Security), Deployment Mode, Organization Size, Application (Smart Manufacturing, Smart Retail), End-user (Manufacturing, Retail, and Others) - Global Forecasts to 2029 The research report titled “IoT Security Market by Component (Solutions, Services), Type (Network Security, Cloud Security), Deployment Mode, Organization Size, Application (Smart Manufacturing, Smart Retail), End-use Industry (Manufacturing, Retail, and Others) - Global Forecasts to 2029”, provides an in-depth analysis of the IoT security market in five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2029. The global IoT security market is expected to reach .16 billion by 2029, at a CAGR of 21.2% during the forecast period of 2022 to 2029. The study offers a comprehensive analysis of the global application security market concerning components, type, deployment mode, organization size, application, end user, and geography. The global IoT security market is segmented based on component (solutions, services), type (network security, endpoint security, application security, cloud security, other security types), deployment mode (on-premises, cloud-based), organization size (Small & medium enterprises, large enterprises), application (smart manufacturing, smart retail, smart energy management, connected cars, connected logistics, connected healthcare, smart supply chain, other applications), end-use industry (manufacturing, government & public, retail, consumer electronics, automotive, healthcare, energy & utilities, supply chain & logistics, transportation, and other end-use industries). The study also evaluates industry competitors and analyses the market at the country level. Based on component, the services segment is expected to record a faster growth rate during the forecast period. The growth of this segment is mainly driven by the rising need to improve business processes and optimize enterprise performance and the growing adoption of integrated security services. Also, the wide adoption of IoT security services across retail, government, and healthcare sectors, resulting in the growing demand for consulting services, training & support services, and integration services, are expected to support the growth of this segment during the forecast period. Based on end-use industry, in 2021, the manufacturing sector accounted for the largest share of the IoT security market. Factors such as the constantly evolving threats in the manufacturing sector, the increasing focus on integrating IoT into industrial control systems, and the growing adoption of wireless sensors networks are driving the growth of the manufacturing segment. However, the government & public sector is expected to record the fastest growth rate during the forecast period. Based on geography, the IoT security market is segmented into five major regions, namely North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2021, North America accounted for the largest share of the IoT security market. However, Asia-Pacific is expected to witness rapid growth during the forecast period. The rapid growth of this region is mainly driven by the increasing adoption of advanced technologies across a wide range of industries in countries, such as China, Japan, and India, to counter the rising labor costs; high penetration of IoT, supporting government initiatives across the region; and investments by major IoT security companies. The global IoT security market is consolidated and dominated by a few major players, namely Cisco Systems, Inc. (U.S.), Forescout Technologies, Inc. (U.S.), Fortinet, Inc. (U.S.), Palo Alto Networks, Inc. (U.S.), Rapid7, Inc. (U.S.), Armis, Inc. (U.S.), Microsoft Corporation (U.S.) Entrust Corporation (U.S.), Karamba Security Ltd. (Israel), ForgeRock, Inc. (U.S.), IBM Corporation (U.S.), Checkpoint Software Technologies, Ltd. (Israel), Allot Communications Ltd. (Israel), JFrog, Inc. (U.S.), Broadcom, Inc. (U.S.), and PTC, Inc. (U.S.). Key questions answered in the report: Scope of the Report
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