IoT Security Market

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IoT Security Market by Type (Network Security, Endpoint, Application Security, & Cloud Security), Offerings (Solutions & Services), Application Area (Smart Manufacturing, Connected Logistics & Transportation), Data Sensitivity - Global Forecast to 2028

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Report Code: TC 3636 Jul, 2023, by marketsandmarkets.com

[265 Pages Report] MarketsandMarkets forecasts the global IOT Security Market size to grow from USD 20.9 billion in 2023 to USD 59.2 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 23.1% during the forecast period. This growth is fueled by a rapid increase in the number of Industry 4.0 IoT security incidents stressing the need to strengthen cyber resilience, IoT vulnerabilities opening up new possibilities to hackers, a growing number of IoT security regulations, and rising security concerns for critical infrastructure.

IoT Security Market

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IoT Security Market

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IoT Security Market Dynamics

Driver: Rising security concerns for critical infrastructure

Hackers are focusing their attention on loT devices and exploiting well-known vulnerabilities, such as default usernames, passwords, and static code backdoors. In today's world, all industries are embracing automation through loT integration. Essential infrastructures like electricity, water, and other crucial resources are early adopters of loT and are currently undergoing the process of automation. While automation greatly improves operational efficiency, it also exposes systems to cyber-attacks. The increasing vulnerability of critical systems has become the primary worry for governments worldwide. Any unintentional or malicious tampering with the controls of a nuclear reactor poses a significant threat to both human life and property.

Restraint: Significant increase in new variants of IoT threats and lack of awareness

IoT devices are becoming a part of our lives; the ability of new botnets to infect, attack, and wreak havoc is also increasing rapidly. For instance, a new variant of threat in the Mirai malware family, known as Miori, is targeting IoT devices to integrate into a larger botnet and launch Distributed Denial-of-Service (DDoS) attacks. Besides Miori, other Mirai offsprings, including Shinoa, APEP, and IZ1H9, use the same Remote Code Execution (RCE) vulnerability to find and infiltrate victims’ open source-based machines.

Opportunity: 5G networks to accelerate a new wave of IoT applications

The low latency of 5G and Multi-access Edge Computing (MEC) helps optimize production in an IoT-enabled smart factory. 5G technology accelerates the uptake of IoT applications and services throughout the ICT industry. 5G is expected to enable new use cases in remote monitoring, visual inspection, and autonomous operations in large-scale remote environments, such as mines and connected vehicles. It also enables machines to communicate without human intervention with a wide array of IoT services. It has facilitated safer, more efficient, and cost-effective transport networks. It also aims at offering improved access to medical treatments by reliably connecting patients and doctors all over the globe. 5G technology would enable richer, smarter, and more convenient living and working.

Challenge: Lack of standardization in IoT protocol

As a diverse range of devices needs to be connected, the need to coordinate with these devices has increased. Various devices use different hardware, run over different platforms, and are manufactured by different vendors. This incompatibility among devices, sensors, and even interfaces of remote servers causes the interoperability challenge in the IoT space. IoT involves every aspect of human life, and the challenge lies in unifying these standards so that M2M communication becomes user-friendly and flexible. Several associations and organizations are working toward resolving this issue. The existing interoperability standards, such as MTConnect, Ethernet for Control Automation Technology (EtherCAT), MCS-DCS Interface Standardization (MDIS), Master Control System (MCS), Distributed Control System (DCS), and Interface Standardization, promote data interchange across heterogeneous domains and industries. Companies currently use custom Application Programming Interfaces (APIs) and solutions for every IoT project. A common protocol and communication standard is required to enable communication among IoT-enabled devices to share data or form an intelligent network.

Market Ecosystem

Prominent companies in this market include well-established, financially stable software and solutions providers. These companies have been operating in the market for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks. Microsoft (US), AWS (US), Google (US), IBM (US), Intel (US), Cisco (US), Ericsson (Sweden), Thales (France), Allot (Israel), Infenion (Germany), Atos (France), etc. are some of the major players operating in this ecosystem.

IoT Security Market

Based on the solutions, the IAM segment is expected to hold the highest market size during the forecast period.

  Ensuring data confidentiality and authorized control over connected devices is crucial for the security of any loT network. As loT continues to expand its presence across various industries, it becomes essential to tailor loT security measures to the specific needs of each industry. As the number of loT deployments continues to rise, so does the level of cyberattacks targeting these networks. To address these concerns, IoT security solutions employ a range of measures, such as identity and access control management, device authentication and management, and PKI lifecycle management, among others. These solutions play a vital role in safeguarding the integrity and protection of loT systems.

Based on region, the Asia Pacific is expected to grow at the highest CAGR during the forecast period

The growth in the IoT device is a result of an aggressive approach by key players aiming to improve business performance and collaboration. Organizations of all sizes and types across all sectors are often highly dependent on vendors or integrators to deliver Information and Communications Technology (ICT) products and services. The increasing use of Internet of Things (IoT) technologies help support their operations and to accomplish their business objectives. The advancement in technology and integration of it into every aspect of the modern world have led to significant improvements, at the same time, introduced new security risks. The rise in ransomware attacks in the IoT ecosystem and the need to follow rigorous adherence and regulatory demand are anticipated to drive market growth. Currently, North America is a paramount contributor to the expansion of the global IoT security market owing to the adoption of IoT in numerous Applications and various initiatives taken by the US Government.

IoT Security Market Size, and Share

Market Players:

The major players in the IoT Security market are Microsoft (US), AWS (US), Google (US), IBM (US), Intel (US), Cisco (US), Ericsson (Sweden), Thales (France), Allot (Israel), Infenion (Germany), Atos (France), etc.  These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and enhancements, and acquisitions to expand their footprint in the IoT Security market.

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Scope of the Report

Report Metrics

Details

Market size available for years

2023-2028

Forecast period

2023–2028

Base Year

2022

Forecast units

Value (USD) Million/Billion

Segments Covered

Offerings, Solutions, Services, Type, Data Sensitivity, Applications and Region

Region covered

North America, Europe, Asia Pacific, Middle East & Africa, Latin America

Companies covered

Microsoft (US), AWS (US), Google (US), IBM (US), Intel (US), Cisco (US), Ericsson (Sweden), Thales (France), Allot (Israel), Infenion (Germany), Atos (France), etc.

This research report categorizes the IoT Security market to forecast revenues and analyze trends in each of the following submarkets:

Based on the Offerings:
  • Solutions
  • Services
Based on Solutions:
  • Identity and Access Management
  • Data Encryption and Tokenization
  • Intrusion Detection System and Intrusion Prevention System
  • Device Authentication And Management
  • Secure Communications
  • Public Key Infrastructure Lifecycle Management
  • Distributed Denial Of Service Protection
  • Security Analytics
  • Other Solutions
Based on Services:
  • Professional Service
  • Managed Services
Based on Professional Services:
  • Implementation
  • Consulting
  • Support and Maintenance
Based on Type:
  • Network Security
  • Endpoint Security
  • Application Security
  • Cloud Security
  • Other Security Types
Based on the Application area:
  • Smart Manufacturing
  • Smart Energy and Utilities
  • Connected Logistics and Transportation
  • Smart Home and Consumer Electronics
  • Connected Healthcare
  • Smart Government and Defense
  • Smart Retail
  • Others
Based on the Data Sensitivity:
  • High-Sensitive Data
  • Low and Moderate Sensitive Data
By Region:
  • North America
    • United States (US)
    • Canada
  • Europe
    • United Kingdom (UK)
    • Germany
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Middle East & Africa
    • UAE
    • KSA
    • Israel
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America

Recent Developments

  • In May 2023, AWS announces support for Transport Layer Security (TLS) 1.3 through Configurable Endpoints. TLS 1.3 provides two major improvements in security and performance - it removes legacy features and older cipher suites in previous versions of TLS, and offers better performance through a simplified handshake process.
  • In April 2023, Launches a new IoT security platform called IBM Security QRadar for IoT
  • In February 2023, Cisco announced new cloud management tools for industrial IoT applications, simplified dashboards to converge IT and OT operations, and flexible network intelligence to see and secure all industrial assets
  • In July 2022, Microsoft launched Defender for IoT to protect printers, smart TVs and all connected things besides PCs and smartphones. Microsoft Defender for IoT was launched in preview in late 2021 but was also formerly known as Azure Defender for IoT, which launched in public preview in 2020. Before that, it was called Azure Security Center for IoT

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 39)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
    1.3 STUDY SCOPE 
           1.3.1 MARKETS COVERED
                    FIGURE 1 IOT SECURITY MARKET SEGMENTATION
           1.3.2 GEOGRAPHICAL SCOPE
                    FIGURE 2 MARKET: GEOGRAPHICAL SCOPE
           1.3.3 INCLUSIONS AND EXCLUSIONS
           1.3.4 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
           TABLE 1 USD EXCHANGE RATES, 2020–2022
    1.5 STAKEHOLDERS 
    1.6 SUMMARY OF CHANGES 
           1.6.1 RECESSION IMPACT
 
2 RESEARCH METHODOLOGY (Page No. - 44)
    2.1 RESEARCH DATA 
           FIGURE 3 IOT SECURITY MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key primary interview participants
                    2.1.2.2 Breakdown of primary profiles
                    2.1.2.3 Primary sources
                    2.1.2.4 Key industry insights
    2.2 MARKET SIZE ESTIMATION 
           FIGURE 4 RESEARCH METHODOLOGY: APPROACH
           FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE): REVENUE OF SERVICES IN IOT SECURITY MARKET
           2.2.1 BOTTOM-UP APPROACH
                    FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 - BOTTOM-UP (SUPPLY SIDE): COLLECTIVE REVENUE OF IOT SECURITY VENDORS
                    FIGURE 7 BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    FIGURE 8 TOP-DOWN APPROACH
    2.3 DATA TRIANGULATION 
           FIGURE 9 DATA TRIANGULATION
    2.4 FACTOR ANALYSIS 
           TABLE 2 FACTOR ANALYSIS
    2.5 ASSUMPTIONS 
    2.6 LIMITATIONS 
    2.7 IMPLICATIONS OF RECESSION ON MARKET 
    FIGURE 10 MARKET TO WITNESS SLIGHT Y-O-Y DIP IN 2023 
 
3 EXECUTIVE SUMMARY (Page No. - 56)
    TABLE 3 IOT SECURITY MARKET SIZE AND GROWTH RATE, 2023–2028  (USD MILLION, Y-O-Y GROWTH) 
    FIGURE 11MARKET, BY REGION, 2023 
 
4 PREMIUM INSIGHTS (Page No. - 59)
    4.1 MARKET OVERVIEW 
           FIGURE 12 RISING SOPHISTICATION OF CYBERATTACKS TO FUEL GROWTH OF MARKET
    4.2 MARKET, BY OFFERING 
           FIGURE 13 SOLUTIONS SEGMENT TO DOMINATE MARKET THROUGH 2023
    4.3 MARKET, BY PROFESSIONAL SERVICE 
           FIGURE 14 IMPLEMENTATION SEGMENT TO LEAD MARKET IN 2023
    4.4 NORTH AMERICA: MARKET, BY TOP THREE TYPES AND APPLICATIONS 
           FIGURE 15 NETWORK SECURITY AND SMART MANUFACTURING SEGMENTS TO ACCOUNT FOR HIGHEST MARKET SHARES IN 2023
 
5 MARKET OVERVIEW (Page No. - 61)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 16 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES:  IOT SECURITY MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Rapid increase in IoT security incidents related to Industry 4.0
                               TABLE 4 IOT CONNECTIONS, 2022 VS. 2028 (BILLION)
                    5.2.1.2 Need to effectively deal with IoT vulnerabilities
                    5.2.1.3 Growing number of IoT security regulations
                    5.2.1.4 Rising security concerns related to critical infrastructure
                               FIGURE 17 IOT ATTACK ORIGINATION, BY COUNTRY
                    5.2.1.5 Increase in data volumes due to 5G
                    5.2.1.6 Standardization of IPv6
                               TABLE 5 COUNTRY-WISE ADOPTION OF IPV6, 2022
           5.2.2 RESTRAINTS
                    5.2.2.1 Lack of awareness about new variants of IoT threats
                    5.2.2.2 Budgetary constraints of SMEs in developing economies
           5.2.3 OPPORTUNITIES
                    5.2.3.1 New wave of IoT applications due to 5G networks
                    5.2.3.2 Development of smart infrastructure
           5.2.4 CHALLENGES
                    5.2.4.1 Lack of standardization in IoT protocol
                    5.2.4.2 Threat to enterprise networks from shadow IoT devices
                    5.2.4.3 Need to ensure secure communication across networks
                               FIGURE 18 INCREASE IN DATA VOLUMES DUE TO 5G TO ACCELERATE GROWTH OF  IOT SECURITY MARKET
                               FIGURE 19 LACK OF STANDARDIZATION IN IOT PROTOCOL TO RESTRICT MARKET GROWTH
    5.3 BRIEF HISTORY/EVOLUTION OF IOT SECURITY 
    5.4 USE CASES 
           TABLE 6 USE CASE 1: PALO ALTO HELPS NDIT TEAM TO BETTER MANAGE NETWORK  TRAFFIC LOAD
           TABLE 7 USE CASE 2: PROHEATLH USES ORDR SCE PLATFORM TO IMPROVE SECURITY OF IOT DEVICES FOR PROHEALTH
           TABLE 8 USE CASE 3: CLAROTY PLATFORM HELPS PHARMA COMPANY ACHIEVE  FULL ASSET VISIBILITY
           TABLE 9 USE CASE 4: END-POINT SECURITY SOLUTIONS FROM TREND MICRO MINIMIZE ESCALATIONS FOR ANTHEM BIOSCIENCES
           TABLE 10 USE CASE 5: HAPPIEST MINDS HELPS WATER TREATMENT COMPANY REDUCE SECURITY RISKS FROM DESIGN TO ROLLOUT
    5.5 PORTER’S FIVE FORCES MODEL ANALYSIS 
           TABLE 11 PORTER’S FIVE FORCES IMPACT ANALYSIS
           5.5.1 THREAT OF NEW ENTRANTS
           5.5.2 THREAT OF SUBSTITUTES
           5.5.3 BARGAINING POWER OF SUPPLIERS
           5.5.4 BARGAINING POWER OF BUYERS
           5.5.5 INTENSITY OF COMPETITIVE RIVALRY
    5.6 VALUE CHAIN ANALYSIS 
           FIGURE 20 IOT SECURITY MARKET: VALUE CHAIN ANALYSIS
    5.7 ECOSYSTEM 
           TABLE 12 MARKET: ECOSYSTEM
    5.8 PATENT ANALYSIS 
           FIGURE 21 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS
           TABLE 13 TOP TWENTY PATENT OWNERS
           FIGURE 22 NUMBER OF PATENTS GRANTED PER YEAR, 2018-2023
    5.9 PRICING ANALYSIS 
           TABLE 14 AVERAGE SELLING PRICE/PRICING MODEL OF IDENTITY AND ACCESS MANAGEMENT SOLUTION – IOT SECURITY MARKET
    5.10 REGULATORY IMPLICATIONS 
           5.10.1 GENERAL DATA PROTECTION REGULATION
           5.10.2 FEDERAL INFORMATION SECURITY MANAGEMENT ACT
           5.10.3 PAYMENT CARD INDUSTRY DATA SECURITY STANDARD
           5.10.4 SARBANES–OXLEY ACT
           5.10.5 SOC2
           5.10.6 HEALTH INSURANCE PORTABILITY AND ACCOUNTABILITY ACT
           5.10.7 GRAMM-LEACH-BLILEY ACT
    5.11 TECHNOLOGY ANALYSIS 
           5.11.1 MACHINE LEARNING
           5.11.2 BLOCKCHAIN
           5.11.3 USER AND ENTITY BEHAVIOR ANALYTICS AND CYBERSECURITY FRAMEWORK
           5.11.4 TOKENIZATION AND CYBERSECURITY FRAMEWORK
    5.12 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 
                    FIGURE 23 REVENUE SHIFT IN MARKET
    5.13 BEST PRACTICES IN MARKET 
    5.14 ADOPTION OF IOT SECURITY 
 
6 IOT SECURITY MARKET, BY OFFERING (Page No. - 86)
    6.1 INTRODUCTION 
           6.1.1 DRIVERS: MARKET, BY 0FFERING
                    FIGURE 24 SERVICES SEGMENT TO RECORD HIGHER CAGR DURING FORECAST PERIOD
                    TABLE 15 MARKET, BY OFFERING, 2018–2022 (USD MILLION)
                    TABLE 16 MARKET, BY OFFERING, 2023–2028 (USD MILLION)
    6.2 SOLUTIONS 
           6.2.1 OFFER MULTIPLE FEATURES TO PROTECT DEVICES FROM ATTACKS
                    TABLE 17 SOLUTIONS: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 18 SOLUTIONS: MARKET, BY REGION, 2023–2028 (USD MILLION)
    6.3 SERVICES 
           6.3.1 PREVENT UNAUTHORIZED ACCESS, DISCLOSURE, OR MODIFICATION OF DATA
                    TABLE 19 SERVICES: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 20 SERVICES: MARKET, BY REGION, 2023–2028 (USD MILLION)
 
7 IOT SECURITY MARKET, BY SOLUTION (Page No. - 90)
    7.1 INTRODUCTION 
           7.1.1 DRIVERS: MARKET, BY SOLUTION
                    FIGURE 25 IDENTITY AND ACCESS MANAGEMENT SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
                    TABLE 21 MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
                    TABLE 22 MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
    7.2 IDENTITY AND ACCESS MANAGEMENT 
           7.2.1 PREVENTS UNAUTHORIZED ACCESS TO NETWORKS
                    TABLE 23 IDENTITY AND ACCESS MANAGEMENT: MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 24 IDENTITY AND ACCESS MANAGEMENT: MARKET, BY REGION,  2023–2028 (USD MILLION)
    7.3 DATA ENCRYPTION AND TOKENIZATION 
           7.3.1 REPLACES SENSITIVE DATA WITH UNIQUE IDENTIFICATION SYMBOLS
                    TABLE 25 DATA ENCRYPTION AND TOKENIZATION: IOT SECURITY MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 26 DATA ENCRYPTION AND TOKENIZATION: MARKET, BY REGION,  2023–2028 (USD MILLION)
    7.4 INTRUSION DETECTION SYSTEM/INTRUSION PREVENTION SYSTEM 
           7.4.1 MONITORS NETWORK FOR MALICIOUS ACTIVITIES OR POLICY VIOLATIONS
                    TABLE 27 INTRUSION DETECTION SYSTEM /INTRUSION PREVENTION SYSTEM: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 28 INTRUSION DETECTION SYSTEM/INTRUSION PREVENTION SYSTEM: MARKET, BY REGION, 2023–2028 (USD MILLION)
    7.5 DEVICE AUTHENTICATION AND MANAGEMENT 
           7.5.1 AUTHENTICATES UNIQUE IDENTITY OF CONNECTED DEVICES
                    TABLE 29 DEVICE AUTHENTICATION AND MANAGEMENT: MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 30 DEVICE AUTHENTICATION AND MANAGEMENT: MARKET, BY REGION,  2023–2028 (USD MILLION)
    7.6 SECURE COMMUNICATIONS 
           7.6.1 ENABLES SEAMLESS CONNECTION BETWEEN DEVICES
                    TABLE 31 SECURE COMMUNICATIONS: IOT SECURITY MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 32 SECURE COMMUNICATIONS: MARKET, BY REGION,  2023–2028 (USD MILLION)
    7.7 PUBLIC KEY INFRASTRUCTURE LIFECYCLE MANAGEMENT 
           7.7.1 PROVIDES FRAMEWORK TO VERIFY IDENTITY OF DEVICES
                    TABLE 33 PUBLIC KEY INFRASTRUCTURE LIFECYCLE MANAGEMENT: MARKET,  BY REGION, 2018–2022 (USD MILLION)
                    TABLE 34 PUBLIC KEY INFRASTRUCTURE LIFECYCLE MANAGEMENT: MARKET,  BY REGION, 2023–2028 (USD MILLION)
    7.8 DISTRIBUTED DENIAL OF SERVICE PROTECTION 
           7.8.1 PREVENTS DISRUPTION OF NORMAL SERVICES
                    TABLE 35 DISTRIBUTED DENIAL OF SERVICE PROTECTION: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 36 DISTRIBUTED DENIAL OF SERVICE PROTECTION: MARKET, BY REGION, 2023–2028 (USD MILLION)
    7.9 SECURITY ANALYTICS 
           7.9.1 PROVIDES ADVANCED SECURITY BREACH PREDICTIONS
                    TABLE 37 SECURITY ANALYTICS: MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 38 SECURITY ANALYTICS: MARKET, BY REGION,  2023–2028 (USD MILLION)
    7.1 OTHER SOLUTIONS 
           7.10.1 SHIFT TO DISTRIBUTED FIREWALLS FOR EMBEDDED DEVICES
                    TABLE 39 OTHER SOLUTIONS: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 40 OTHER SOLUTIONS: MARKET, BY REGION, 2023–2028 (USD MILLION)
 
8 IOT SECURITY MARKET, BY SERVICE (Page No. - 102)
    8.1 INTRODUCTION 
           8.1.1 DRIVERS: MARKET, BY SERVICE
                    FIGURE 26 MANAGED SERVICES SEGMENT TO RECORD HIGHER CAGR DURING  FORECAST PERIOD
                    TABLE 41 MARKET, BY SERVICE, 2018–2022 (USD MILLION)
                    TABLE 42 MARKET, BY SERVICE, 2023–2028 (USD MILLION)
    8.2 PROFESSIONAL SERVICES 
           8.2.1 HELP TO SPEED UP IOT SECURITY SOLUTION DEVELOPMENT
                    TABLE 43 PROFESSIONAL SERVICES: MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 44 PROFESSIONAL SERVICES: MARKET, BY REGION,  2023–2028 (USD MILLION)
                    TABLE 45 PROFESSIONAL SERVICES: MARKET, BY TYPE,  2018–2022 (USD MILLION)
                    TABLE 46 PROFESSIONAL SERVICES: MARKET, BY TYPE,  2023–2028 (USD MILLION)
           8.2.2 IMPLEMENTATION SERVICES
                    8.2.2.1 Enable organizations to offer transparent and secure IoT experience
                               TABLE 47 IMPLEMENTATION SERVICES: IOT SECURITY MARKET, BY REGION,  2018–2022 (USD MILLION)
                               TABLE 48 IMPLEMENTATION SERVICES: MARKET, BY REGION,  2023–2028 (USD MILLION)
           8.2.3 CONSULTING SERVICES
                    8.2.3.1 Provide customization for maximum product assurance
                               TABLE 49 CONSULTING SERVICES: MARKET, BY REGION, 2018–2022 (USD MILLION)
                               TABLE 50 CONSULTING SERVICES: MARKET, BY REGION, 2023–2028 (USD MILLION)
           8.2.4 SUPPORT AND MAINTENANCE SERVICES
                    8.2.4.1 Offer clients ongoing repair and inspection assistance
                               TABLE 51 SUPPORT AND MAINTENANCE SERVICES: MARKET, BY REGION,  2018–2022 (USD MILLION)
                               TABLE 52 SUPPORT AND MAINTENANCE SERVICES: MARKET, BY REGION,  2023–2028 (USD MILLION)
    8.3 MANAGED SERVICES 
           8.3.1 PROVIDE WIDE-RANGING TECHNICAL SUPPORT TO CUSTOMERS
                    TABLE 53 MANAGED SERVICES: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 54 MANAGED SERVICES: MARKET, BY REGION, 2023–2028 (USD MILLION)
 
9 IOT SECURITY MARKET, BY TYPE (Page No. - 110)
    9.1 INTRODUCTION 
           9.1.1 DRIVERS: MARKET, BY TYPE
                    FIGURE 27 CLOUD SECURITY SEGMENT TO RECORD HIGHEST CAGR DURING  FORECAST PERIOD
                    TABLE 55 MARKET, BY TYPE, 2018–2022 (USD MILLION)
                    TABLE 56 MARKET, BY TYPE, 2023–2028 (USD MILLION)
    9.2 NETWORK SECURITY 
           9.2.1 SAFEGUARDS INTEGRITY AND ACCESSIBILITY OF COMPUTER NETWORKS AND DATA
                    TABLE 57 NETWORK SECURITY: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 58 NETWORK SECURITY: MARKET, BY REGION, 2023–2028 (USD MILLION)
    9.3 ENDPOINT SECURITY 
           9.3.1 INCREASES PRODUCTIVITY BY PREVENTING DOWNTIME  AND DATA LOSS
                    TABLE 59 ENDPOINT SECURITY: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 60 ENDPOINT SECURITY: IOT SECURITY MARKET, BY REGION, 2023–2028 (USD MILLION)
    9.4 APPLICATION SECURITY 
           9.4.1 ENABLES ENTERPRISES TO SECURE BUSINESS-SENSITIVE APPLICATIONS
                    TABLE 61 APPLICATION SECURITY: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 62 APPLICATION SECURITY: MARKET, BY REGION, 2023–2028 (USD MILLION)
    9.5 CLOUD SECURITY 
           9.5.1 HELPS SAFEGUARD DATA ON IOT DEVICES
                    TABLE 63 CLOUD SECURITY: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 64 CLOUD SECURITY: MARKET, BY REGION, 2023–2028 (USD MILLION)
    9.6 OTHER SECURITY TYPES 
           9.6.1 OFFER CONTINUOUS PROTECTION TO IOT ECOSYSTEM
                    TABLE 65 OTHER SECURITY TYPES: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 66 OTHER SECURITY TYPES: MARKET, BY REGION, 2023–2028 (USD MILLION)
 
10 IOT SECURITY MARKET, BY DATA SENSITIVITY (Page No. - 118)
     10.1 INTRODUCTION 
             10.1.1 DRIVERS: MARKET, BY DATA SENSITIVITY
     10.2 HIGH-SENSITIVITY DATA 
             10.2.1 THEFT OF DATA LIKELY TO CAUSE SERIOUS LOSSES
     10.3 LOW- AND MODERATE-SENSITIVITY DATA 
             10.3.1 POSSIBILITY OF MISUSE TO COMMIT FRAUD OR IDENTITY THEFT
 
11 IOT SECURITY MARKET, BY APPLICATION AREA (Page No. - 121)
     11.1 INTRODUCTION 
             11.1.1 DRIVERS: MARKET, BY APPLICATION AREA
                       FIGURE 28 SMART MANUFACTURING SEGMENT TO HOLD LARGEST MARKET SIZE DURING FORECAST PERIOD
                       TABLE 67 MARKET, BY APPLICATION AREA, 2018–2022 (USD MILLION)
                       TABLE 68 MARKET, BY APPLICATION AREA, 2023–2028 (USD MILLION)
     11.2 SMART MANUFACTURING 
             11.2.1 RISING NEED TO ENHANCE EFFICIENCY OF BUSINESS PROCESSES AND PRODUCTION OUTPUT
                       TABLE 69 SMART MANUFACTURING: MARKET, BY REGION,  2018–2022 (USD MILLION)
                       TABLE 70 SMART MANUFACTURING: MARKET, BY REGION,  2023–2028 (USD MILLION)
     11.3 SMART ENERGY AND UTILITIES 
             11.3.1 GROWING USE OF SECURITY SOLUTIONS TO PROTECT  PERSONAL DATA
                       TABLE 71 SMART ENERGY AND UTILITIES: MARKET, BY REGION,  2018–2022 (USD MILLION)
                       TABLE 72 SMART ENERGY AND UTILITIES: MARKET, BY REGION,  2023–2028 (USD MILLION)
     11.4 CONNECTED LOGISTICS AND TRANSPORTATION 
             11.4.1 RISING NEED TO SECURE IOT DEVICES TO PREVENT LOSS OF LIFE  OR GOODS
                       TABLE 73 CONNECTED LOGISTICS AND TRANSPORTATION: MARKET, BY REGION,  2018–2022 (USD MILLION)
                       TABLE 74 CONNECTED LOGISTICS AND TRANSPORTATION: MARKET, BY REGION,  2023–2028 (USD MILLION)
     11.5 SMART HOME AND CONSUMER ELECTRONICS 
             11.5.1 GROWING RISK OF MALWARE AND OTHER FORMS OF ATTACKS
                       TABLE 75 SMART HOME AND CONSUMER ELECTRONICS: IOT SECURITY MARKET, BY REGION, 2018–2022 (USD MILLION)
                       TABLE 76 SMART HOME AND CONSUMER ELECTRONICS: MARKET, BY REGION,  2023–2028 (USD MILLION)
     11.6 CONNECTED HEALTHCARE 
             11.6.1 IOT SECURITY ESSENTIAL TO SAFEGUARD PATIENT DATA
                       TABLE 77 CONNECTED HEALTHCARE: MARKET, BY REGION,  2018–2022 (USD MILLION)
                       TABLE 78 CONNECTED HEALTHCARE: MARKET, BY REGION,  2023–2028 (USD MILLION)
     11.7 SMART GOVERNMENT AND DEFENSE 
             11.7.1 DEMAND FOR IOT SECURITY TO PROTECT CRITICAL INFORMATION
                       TABLE 79 SMART GOVERNMENT AND DEFENSE: MARKET, BY REGION,  2018–2022 (USD MILLION)
                       TABLE 80 SMART GOVERNMENT AND DEFENSE: MARKET, BY REGION,  2023–2028 (USD MILLION)
     11.8 SMART RETAIL 
             11.8.1 RISING REQUIREMENT TO SECURE MULTIPLE NETWORK POINTS
                       TABLE 81 SMART RETAIL: MARKET, BY REGION, 2018–2022 (USD MILLION)
                       TABLE 82 SMART RETAIL: MARKET, BY REGION, 2023–2028 (USD MILLION)
     11.9 OTHER APPLICATION AREAS 
             11.9.1 INCREASING TECHNOLOGY ADOPTION IN AGRICULTURE TO CREATE DEMAND
                       TABLE 83 OTHER APPLICATION AREAS: MARKET, BY REGION,  2018–2022 (USD MILLION)
                       TABLE 84 OTHER APPLICATION AREAS: MARKET, BY REGION,  2023–2028 (USD MILLION)
 
12 IOT SECURITY MARKET, BY REGION (Page No. - 133)
     12.1 INTRODUCTION 
               TABLE 85 MARKET, BY REGION, 2018–2022 (USD MILLION)
               TABLE 86 MARKET, BY REGION, 2023–2028 (USD MILLION)
     12.2 NORTH AMERICA 
             12.2.1 NORTH AMERICA: MARKET DRIVERS
             12.2.2 NORTH AMERICA: RECESSION IMPACT
             12.2.3 NORTH AMERICA: IOT SECURITY REGULATIONS
                       FIGURE 29 NORTH AMERICA: IOT SECURITY MARKET SNAPSHOT
                       TABLE 87 NORTH AMERICA: MARKET, BY OFFERING, 2018–2022 (USD MILLION)
                       TABLE 88 NORTH AMERICA: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                       TABLE 89 NORTH AMERICA: MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
                       TABLE 90 NORTH AMERICA: MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
                       TABLE 91 NORTH AMERICA: MARKET, BY SERVICE, 2018–2022 (USD MILLION)
                       TABLE 92 NORTH AMERICA: MARKET, BY SERVICE, 2023–2028 (USD MILLION)
                       TABLE 93 NORTH AMERICA: MARKET, BY PROFESSIONAL SERVICE,  2018–2022 (USD MILLION)
                       TABLE 94 NORTH AMERICA: MARKET, BY PROFESSIONAL SERVICE,  2023–2028 (USD MILLION)
                       TABLE 95 NORTH AMERICA: MARKET, BY TYPE, 2018–2022 (USD MILLION)
                       TABLE 96 NORTH AMERICA: MARKET, BY SECURITY TYPE, 2023–2028 (USD MILLION)
                       TABLE 97 NORTH AMERICA: MARKET, BY APPLICATION AREA,  2018–2022 (USD MILLION)
                       TABLE 98 NORTH AMERICA: MARKET, BY APPLICATION AREA,  2023–2028 (USD MILLION)
                       TABLE 99 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
                       TABLE 100 NORTH AMERICA: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             12.2.4 US
                       12.2.4.1 Government investments in IT infrastructure to boost market
                                   TABLE 101 US: IOT SECURITY MARKET, BY OFFERING, 2018–2022 (USD MILLION)
                                   TABLE 102 US: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 103 US: MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
                                   TABLE 104 US: MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
                                   TABLE 105 US: MARKET, BY SERVICE, 2018–2022 (USD MILLION)
                                   TABLE 106 US: MARKET, BY SERVICE, 2023–2028 (USD MILLION)
                                   TABLE 107 US: MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)
                                   TABLE 108 US: MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)
                                   TABLE 109 US: MARKET, BY TYPE, 2018–2022 (USD MILLION)
                                   TABLE 110 US: MARKET, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 111 US: MARKET, BY APPLICATION AREA, 2018–2022 (USD MILLION)
                                   TABLE 112 US: MARKET, BY APPLICATION AREA, 2023–2028 (USD MILLION)
             12.2.5 CANADA
                       12.2.5.1 Collaborative efforts to strengthen cybersecurity to drive market
     12.3 EUROPE 
             12.3.1 EUROPE: MARKET DRIVERS
             12.3.2 EUROPE: RECESSION IMPACT
             12.3.3 EUROPE: REGULATORY LANDSCAPE
                       TABLE 113 EUROPE: IOT SECURITY MARKET, BY OFFERING, 2018–2022 (USD MILLION)
                       TABLE 114 EUROPE: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                       TABLE 115 EUROPE: MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
                       TABLE 116 EUROPE: MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
                       TABLE 117 EUROPE: MARKET, BY SERVICE, 2018–2022 (USD MILLION)
                       TABLE 118 EUROPE: MARKET, BY SERVICE, 2023–2028 (USD MILLION)
                       TABLE 119 EUROPE: MARKET, BY PROFESSIONAL SERVICE,  2018–2022 (USD MILLION)
                       TABLE 120 EUROPE: MARKET, BY PROFESSIONAL SERVICE,  2023–2028 (USD MILLION)
                       TABLE 121 EUROPE: MARKET, BY TYPE, 2018–2022 (USD MILLION)
                       TABLE 122 EUROPE: MARKET, BY TYPE, 2023–2028 (USD MILLION)
                       TABLE 123 EUROPE: MARKET, BY APPLICATION AREA, 2018–2022 (USD MILLION)
                       TABLE 124 EUROPE: MARKET, BY APPLICATION AREA, 2023–2028 (USD MILLION)
                       TABLE 125 EUROPE: MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
                       TABLE 126 EUROPE: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             12.3.4 UK
                       12.3.4.1 National cybersecurity strategy to boost market
                                   TABLE 127 UK: IOT SECURITY MARKET, BY OFFERING, 2018–2022 (USD MILLION)
                                   TABLE 128 UK: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 129 UK: MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
                                   TABLE 130 UK: MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
                                   TABLE 131 UK: MARKET, BY SERVICE, 2018–2022 (USD MILLION)
                                   TABLE 132 UK: MARKET, BY SERVICE, 2023–2028 (USD MILLION)
                                   TABLE 133 UK: MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)
                                   TABLE 134 UK: MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)
                                   TABLE 135 UK: MARKET, BY TYPE, 2018–2022 (USD MILLION)
                                   TABLE 136 UK: MARKET, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 137 UK: MARKET, BY APPLICATION AREA, 2018–2022 (USD MILLION)
                                   TABLE 138 UK: MARKET, BY APPLICATION AREA, 2023–2028 (USD MILLION)
             12.3.5 GERMANY
                       12.3.5.1 IoT adoption in automotive and manufacturing sectors to drive market
             12.3.6 REST OF EUROPE
                       12.3.6.1 Government initiatives to provide training for security professionals to propel market
     12.4 ASIA PACIFIC 
             12.4.1 ASIA PACIFIC: MARKET DRIVERS
             12.4.2 ASIA PACIFIC: RECESSION IMPACT
                       FIGURE 30 ASIA PACIFIC: IOT SECURITY MARKET SNAPSHOT
                       TABLE 139 ASIA PACIFIC: MARKET, BY OFFERING, 2018–2022 (USD MILLION)
                       TABLE 140 ASIA PACIFIC: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                       TABLE 141 ASIA PACIFIC: MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
                       TABLE 142 ASIA PACIFIC: MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
                       TABLE 143 ASIA PACIFIC: MARKET, BY SERVICE, 2018–2022 (USD MILLION)
                       TABLE 144 ASIA PACIFIC: MARKET, BY SERVICE, 2023–2028 (USD MILLION)
                       TABLE 145 ASIA PACIFIC: MARKET, BY PROFESSIONAL SERVICE,  2018–2022 (USD MILLION)
                       TABLE 146 ASIA PACIFIC: MARKET, BY PROFESSIONAL SERVICE,  2023–2028 (USD MILLION)
                       TABLE 147 ASIA PACIFIC: MARKET, BY TYPE, 2018–2022 (USD MILLION)
                       TABLE 148 ASIA PACIFIC: MARKET, BY TYPE, 2023–2028 (USD MILLION)
                       TABLE 149 ASIA PACIFIC: MARKET, BY APPLICATION AREA, 2018–2022 (USD MILLION)
                       TABLE 150 ASIA PACIFIC: MARKET, BY APPLICATION AREA,  2023–2028 (USD MILLION)
                       TABLE 151 ASIA PACIFIC: MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
                       TABLE 152 ASIA PACIFIC: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             12.4.3 CHINA
                       12.4.3.1 Huge IoT market to drive demand for security solutions
                                   TABLE 153 CHINA: IOT SECURITY MARKET, BY OFFERING, 2018–2022 (USD MILLION)
                                   TABLE 154 CHINA: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 155 CHINA: MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
                                   TABLE 156 CHINA: MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
                                   TABLE 157 CHINA: MARKET, BY TYPE, 2018–2022 (USD MILLION)
                                   TABLE 158 CHINA: MARKET, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 159 CHINA: MARKET, BY SERVICE, 2018–2022 (USD MILLION)
                                   TABLE 160 CHINA: MARKET, BY SERVICE, 2023–2028 (USD MILLION)
                                   TABLE 161 CHINA: MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)
                                   TABLE 162 CHINA: MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)
                                   TABLE 163 CHINA: MARKET, BY APPLICATION AREA, 2018–2022 (USD MILLION)
                                   TABLE 164 CHINA: MARKET, BY APPLICATION AREA, 2023–2028 (USD MILLION)
             12.4.4 INDIA
                       12.4.4.1 Government initiatives to boost market growth
             12.4.5 REST OF ASIA PACIFIC
                       12.4.5.1 Significant expenditure on cybersecurity to fuel market
     12.5 MIDDLE EAST & AFRICA 
             12.5.1 MIDDLE EAST & AFRICA: MARKET DRIVERS
             12.5.2 MIDDLE EAST & AFRICA: RECESSION IMPACT
             12.5.3 MIDDLE EAST & AFRICA: REGULATORY LANDSCAPE
                       TABLE 165 MIDDLE EAST & AFRICA: IOT SECURITY MARKET, BY OFFERING,  2018–2022 (USD MILLION)
                       TABLE 166 MIDDLE EAST & AFRICA: MARKET, BY OFFERING,  2023–2028 (USD MILLION)
                       TABLE 167 MIDDLE EAST & AFRICA: MARKET, BY SOLUTION,  2018–2022 (USD MILLION)
                       TABLE 168 MIDDLE EAST & AFRICA: MARKET, BY SOLUTION,  2023–2028 (USD MILLION)
                       TABLE 169 MIDDLE EAST & AFRICA: MARKET, BY SERVICE,  2018–2022 (USD MILLION)
                       TABLE 170 MIDDLE EAST & AFRICA: MARKET, BY SERVICE,  2023–2028 (USD MILLION)
                       TABLE 171 MIDDLE EAST & AFRICA: MARKET, BY PROFESSIONAL SERVICE,  2018–2022 (USD MILLION)
                       TABLE 172 MIDDLE EAST & AFRICA: MARKET, BY PROFESSIONAL SERVICE,  2023–2028 (USD MILLION)
                       TABLE 173 MIDDLE EAST & AFRICA: MARKET, BY TYPE, 2018–2022 (USD MILLION)
                       TABLE 174 MIDDLE EAST & AFRICA: MARKET, BY TYPE, 2023–2028 (USD MILLION)
                       TABLE 175 MIDDLE EAST & AFRICA: MARKET, BY APPLICATION AREA,  2018–2022 (USD MILLION)
                       TABLE 176 MIDDLE EAST & AFRICA: MARKET, BY APPLICATION AREA,  2023–2028 (USD MILLION)
                       TABLE 177 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY,  2018–2022 (USD MILLION)
                       TABLE 178 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY,  2023–2028 (USD MILLION)
             12.5.4 KINGDOM OF SAUDI ARABIA
                       12.5.4.1 Use of advanced IT systems to generate demand
             12.5.5 ISRAEL
                       12.5.5.1 Increased investments in IoT infrastructure to drive market
             12.5.6 UNITED ARAB EMIRATES
                       12.5.6.1 Rising need for IIoT to fuel demand for security solutions
             12.5.7 REST OF MIDDLE EAST & AFRICA
                       12.5.7.1 Growing technology sector to boost market
     12.6 LATIN AMERICA 
             12.6.1 LATIN AMERICA: MARKET DRIVERS
             12.6.2 LATIN AMERICA: RECESSION IMPACT
             12.6.3 LATIN AMERICA: REGULATORY LANDSCAPE
                       TABLE 179 LATIN AMERICA: IOT SECURITY MARKET, BY OFFERING, 2018–2022 (USD MILLION)
                       TABLE 180 LATIN AMERICA: MARKET, BY OFFERING,  2023–2028 (USD MILLION)
                       TABLE 181 LATIN AMERICA: MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
                       TABLE 182 LATIN AMERICA: MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
                       TABLE 183 LATIN AMERICA: MARKET, BY SERVICE, 2018–2022 (USD MILLION)
                       TABLE 184 LATIN AMERICA: MARKET, BY SERVICE, 2023–2028 (USD MILLION)
                       TABLE 185 LATIN AMERICA: MARKET, BY PROFESSIONAL SERVICE,  2018–2022 (USD MILLION)
                       TABLE 186 LATIN AMERICA: MARKET, BY PROFESSIONAL SERVICE,  2023–2028 (USD MILLION)
                       TABLE 187 LATIN AMERICA: MARKET, BY TYPE, 2018–2022 (USD MILLION)
                       TABLE 188 LATIN AMERICA: MARKET, BY TYPE, 2023–2028 (USD MILLION)
                       TABLE 189 LATIN AMERICA: MARKET, BY APPLICATION AREA,  2018–2022 (USD MILLION)
                       TABLE 190 LATIN AMERICA: MARKET, BY APPLICATION AREA,  2023–2028 (USD MILLION)
                       TABLE 191 LATIN AMERICA: MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
                       TABLE 192 LATIN AMERICA: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             12.6.4 BRAZIL
                       12.6.4.1 Government support for IoT to boost market
                                   TABLE 193 BRAZIL: IOT SECURITY MARKET, BY OFFERING, 2018–2022 (USD MILLION)
                                   TABLE 194 BRAZIL: MARKET, BY OFFERING, 2023–2028 (USD MILLION)
                                   TABLE 195 BRAZIL: MARKET, BY SOLUTION, 2018–2022 (USD MILLION)
                                   TABLE 196 BRAZIL: MARKET, BY SOLUTION, 2023–2028 (USD MILLION)
                                   TABLE 197 BRAZIL: MARKET, BY SERVICE, 2018–2022 (USD MILLION)
                                   TABLE 198 BRAZIL: MARKET, BY SERVICE, 2023–2028 (USD MILLION)
                                   TABLE 199 BRAZIL: MARKET, BY PROFESSIONAL SERVICE, 2018–2022 (USD MILLION)
                                   TABLE 200 BRAZIL: MARKET, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)
                                   TABLE 201 BRAZIL: MARKET, BY TYPE, 2018–2022 (USD MILLION)
                                   TABLE 202 BRAZIL: MARKET, BY TYPE, 2023–2028 (USD MILLION)
                                   TABLE 203 BRAZIL: MARKET, BY APPLICATION AREA, 2018–2022 (USD MILLION)
                                   TABLE 204 BRAZIL: MARKET, BY APPLICATION AREA, 2023–2028 (USD MILLION)
             12.6.5 MEXICO
                       12.6.5.1 Increasing adoption of IoT to drive demand for security solutions
             12.6.6 REST OF LATIN AMERICA
                       12.6.6.1 Mandatory use of IoT in business processes to fuel market
 
13 COMPETITIVE LANDSCAPE (Page No. - 186)
     13.1 OVERVIEW 
     13.2 KEY PLAYER STRATEGIES 
               TABLE 205 OVERVIEW OF STRATEGIES DEPLOYED BY KEY PLAYERS IN MARKET
     13.3 HISTORICAL REVENUE ANALYSIS 
               FIGURE 31 HISTORICAL REVENUE ANALYSIS, BY VENDOR, 2020–2022
     13.4 MARKET SHARE ANALYSIS OF TOP PLAYERS 
               TABLE 206 MARKET: DEGREE OF COMPETITION
     13.5 COMPANY MARKET RANKING ANALYSIS 
               FIGURE 32 RANKING OF KEY PLAYERS IN MARKET, 2023
     13.6 EVALUATION QUADRANT MATRIX METHODOLOGY FOR  KEY PLAYERS 
               FIGURE 33 EVALUATION QUADRANT MATRIX FOR KEY PLAYERS: CRITERIA WEIGHTAGE
             13.6.1 STARS
             13.6.2 EMERGING LEADERS
             13.6.3 PERVASIVE PLAYERS
             13.6.4 PARTICIPANTS
                       FIGURE 34 IOT SECURITY MARKET, COMPANY EVALUATION MATRIX, 2023
     13.7 COMPANY FOOTPRINT ANALYSIS 
               TABLE 207 COMPANY PRODUCT FOOTPRINT
               TABLE 208 COMPANY APPLICATION FOOTPRINT
               TABLE 209 COMPANY SECURITY TYPE FOOTPRINT
               TABLE 210 COMPANY REGION FOOTPRINT
     13.8 EVALUATION QUADRANT MATRIX METHODOLOGY FOR STARTUPS/SMES 
               FIGURE 35 EVALUATION QUADRANT MATRIX FOR STARTUPS/SMES: CRITERIA WEIGHTAGE
             13.8.1 PROGRESSIVE COMPANIES
             13.8.2 RESPONSIVE COMPANIES
             13.8.3 DYNAMIC COMPANIES
             13.8.4 STARTING BLOCKS
                       FIGURE 36 MARKET (GLOBAL): STARTUP/SME EVALUATION MATRIX, 2023
     13.9 COMPETITIVE SCENARIO 
             13.9.1 PRODUCT LAUNCHES
                       TABLE 211 MARKET: PRODUCT LAUNCHES, JANUARY 2021–MAY 2023
             13.9.2 DEALS
                       TABLE 212 IOT SECURITY MARKET: DEALS, JANUARY 2021–MAY 2023
 
14 COMPANY PROFILES (Page No. - 200)
(Business overview, Products/Solutions/Services offered, Recent Developments, MNM view)*
     14.1 MAJOR PLAYERS 
             14.1.1 MICROSOFT
                       TABLE 213 MICROSOFT: BUSINESS OVERVIEW
                       FIGURE 37 MICROSOFT: COMPANY SNAPSHOT
                       TABLE 214 MICROSOFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 215 MICROSOFT: PRODUCT LAUNCHES AND ENHANCEMENTS
                       TABLE 216 MICROSOFT: DEALS
             14.1.2 AMAZON WEB SERVICES
                       TABLE 217 AMAZON WEB SERVICES: BUSINESS OVERVIEW
                       FIGURE 38 AMAZON WEB SERVICES: COMPANY SNAPSHOT
                       TABLE 218 AMAZON WEB SERVICES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 219 AMAZON WEB SERVICES: PRODUCT LAUNCHES
             14.1.3 GOOGLE
                       TABLE 220 GOOGLE: BUSINESS OVERVIEW
                       FIGURE 39 GOOGLE: COMPANY SNAPSHOT
                       TABLE 221 GOOGLE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             14.1.4 IBM
                       TABLE 222 IBM: BUSINESS OVERVIEW
                       FIGURE 40 IBM: COMPANY SNAPSHOT
                       TABLE 223 IBM: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 224 IBM: PRODUCT LAUNCHES
                       TABLE 225 IBM: DEALS
             14.1.5 INTEL
                       TABLE 226 INTEL: BUSINESS OVERVIEW
                       FIGURE 41 INTEL: COMPANY SNAPSHOT
                       TABLE 227 INTEL: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             14.1.6 CISCO
                       TABLE 228 CISCO: BUSINESS OVERVIEW
                       FIGURE 42 CISCO: COMPANY SNAPSHOT
                       TABLE 229 CISCO: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 230 CISCO: PRODUCT LAUNCHES
                       TABLE 231 CISCO: DEALS
             14.1.7 ERICSSON
                       TABLE 232 ERICSSON: BUSINESS OVERVIEW
                       FIGURE 43 ERICSSON: COMPANY SNAPSHOT
                       TABLE 233 ERICSSON: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 234 ERICSSON: PRODUCT LAUNCHES
                       TABLE 235 ERICSSON: DEALS
             14.1.8 THALES GROUP
                       TABLE 236 THALES GROUP: BUSINESS OVERVIEW
                       FIGURE 44 THALES GROUP: COMPANY SNAPSHOT
                       TABLE 237 THALES GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 238 THALES GROUP: PRODUCT LAUNCHES
             14.1.9 ALLOT
                       TABLE 239 ALLOT: BUSINESS OVERVIEW
                       TABLE 240 ALLOT: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 241 ALLOT: PRODUCT LAUNCHES
                       TABLE 242 ALLOT: DEALS
             14.1.10 INFINEON
                       TABLE 243 INFINEON: BUSINESS OVERVIEW
                       TABLE 244 INFINEON: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 245 INFINEON: PRODUCT LAUNCHES
                       TABLE 246 INFINEON: DEALS
             14.1.11 ATOS
                       TABLE 247 BUSINESS OVERVIEW
                       TABLE 248 ATOS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 249 ATOS: DEALS
                       TABLE 250 ATOS: OTHERS
     14.2 OTHER PLAYERS 
             14.2.1 MAGICCUBE
             14.2.2 DRAGOS
             14.2.3 CLAROTY
             14.2.4 KARAMBA SECURITY
             14.2.5 JFROG
             14.2.6 FORGEROCK
             14.2.7 ORDR
             14.2.8 NEWSKY
             14.2.9 ARMIS
             14.2.10 MOBILEUM
             14.2.11 TREND MICRO
             14.2.12 SOPHOS
             14.2.13 CHECK POINT
             14.2.14 FORTINET
             14.2.15 HAPPIEST MINDS
             14.2.16 MOCANA
             14.2.17 PALO ALTO
             14.2.18 KASPERSKY
             14.2.19 ENTRUST
*Details on Business overview, Products/Solutions/Services offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
 
15 ADJACENT/RELATED MARKETS (Page No. - 250)
     15.1 INTRODUCTION 
     15.2 5G IOT MARKET 
             15.2.1 MARKET DEFINITION
             15.2.2 MARKET OVERVIEW
             15.2.3 5G IOT MARKET, BY COMPONENT
                       TABLE 251 5G IOT MARKET, BY COMPONENT, 2020–2028 (USD MILLION)
                       TABLE 252 5G IOT MARKET, BY SERVICE, 2020–2028 (USD MILLION)
                       TABLE 253 5G IOT MARKET, BY PROFESSIONAL SERVICE, 2020–2028 (USD MILLION)
             15.2.4 5G IOT MARKET, BY NETWORK TYPE
                       TABLE 254 5G IOT MARKET, BY NETWORK TYPE, 2020–2028 (USD MILLION)
             15.2.5 5G IOT MARKET, BY ORGANIZATION SIZE
                       TABLE 255 5G IOT MARKET, BY ORGANIZATION SIZE, 2020–2028 (USD MILLION)
             15.2.6 5G IOT MARKET, BY TYPE
                       TABLE 256 5G IOT MARKET, BY TYPE, 2020–2028 (USD MILLION)
             15.2.7 5G IOT MARKET, BY END USER
                       TABLE 257 5G IOT MARKET, BY END USER, 2020–2028 (USD MILLION)
             15.2.8 5G IOT MARKET, BY REGION
                       TABLE 258 5G IOT MARKET, BY REGION, 2020–2028 (USD MILLION)
     15.3 IOT SOLUTIONS AND SERVICES — GLOBAL FORECAST TO 2027 
             15.3.1 MARKET DEFINITION
             15.3.2 MARKET OVERVIEW
                       15.3.2.1 IoT solutions and services market, by component
                                   TABLE 259 IOT SOLUTIONS AND SERVICES MARKET, BY COMPONENT, 2016–2021 (USD BILLION)
                                   TABLE 260 IOT SOLUTIONS AND SERVICES MARKET, BY COMPONENT, 2022–2027 (USD BILLION)
                       15.3.2.2 IoT solutions and services market, by deployment mode
                                   TABLE 261 IOT SOLUTIONS AND SERVICES MARKET, BY DEPLOYMENT MODE,  2016–2021 (USD BILLION)
                                   TABLE 262 IOT SOLUTIONS AND SERVICES MARKET, BY DEPLOYMENT MODE,  2022–2027 (USD BILLION)
                       15.3.2.3 IoT solutions and services market, by organization size
                                   TABLE 263 IOT SOLUTIONS AND SERVICES MARKET, BY ORGANIZATION SIZE,  2016–2021 (USD BILLION)
                                   TABLE 264 IOT SOLUTIONS AND SERVICES MARKET, BY ORGANIZATION SIZE,  2022–2027 (USD BILLION)
                       15.3.2.4 IoT solutions and services market, by focus area
                                   TABLE 265 IOT SOLUTIONS AND SERVICES MARKET, BY FOCUS AREA, 2016–2021 (USD BILLION)
                                   TABLE 266 IOT SOLUTIONS AND SERVICES MARKET, BY FOCUS AREA, 2022–2027 (USD BILLION)
                       15.3.2.5 IoT solutions and services market, by region
                                   TABLE 267 IOT SOLUTIONS AND SERVICES MARKET, BY REGION, 2016–2021 (USD BILLION)
                                   TABLE 268 IOT SOLUTIONS AND SERVICES MARKET, BY REGION, 2022–2027 (USD BILLION)
 
16 APPENDIX (Page No. - 259)
     16.1 DISCUSSION GUIDE 
     16.2 KNOWLEDGESTORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL 
     16.3 CUSTOMIZATION OPTIONS  
     16.4 RELATED REPORTS 
     16.5 AUTHOR DETAILS 

This research study involved extensive secondary sources, directories, and databases, such as D&B Hoovers, Bloomberg Businessweek, and Factiva, to identify and collect information useful for this technical, market-oriented, and commercial study of the IoT Security market. Primary sources were industry experts from core and related industries, preferred system developers, service providers, resellers, partners, and organizations related to the various segments of the industry’s value chain. In-depth interviews were conducted with various primary respondents, including key industry participants and subject-matter experts, to obtain and verify critical qualitative and quantitative information and assess the market’s prospects. These included key industry participants, subject-matter experts, C-level executives of key companies, and industry consultants.

Secondary Research

The market share and revenue of the company offering IoT Security services were identified. The secondary data was available through paid and unpaid sources by analyzing the product portfolio of major companies in the ecosystem and rating them based on their performance and quality. In the secondary research process, various sources were referred to for identifying and collecting information for this study. In the secondary research process, various sources were referred to for identifying and collecting information for this study. The secondary sources included annual reports, press releases, investor presentations of companies, white papers, journals, certified publications, and articles from recognized authors, directories, and databases.

Primary Research

Various primary sources from the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report in the primary research process. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Chief Information Security Officers (CISOs), Chief Technology Officers (CTOs), Chief Operating Officers (COOs), Vice Presidents (VPs), Managing Directors (MDs), technology and innovation directors, and related key executives from various key companies and organizations operating in the IoT Security market.

The Breakup of Primary Research:

IoT Security Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Top-down and bottom-up approaches were used to estimate and validate the size of the global IoT Security market and the size of various other dependent sub-segments. The research methodology used to estimate the market size includes the following details:

  • Analyzing the size of the global IoT Security and then identifying revenues generated through the technology
  • Identifying the key players in the market and their revenue contribution in the respective regions
  • Estimating the size of the IoT Security market
  • Estimating the market size of other IoT Security technology providers

IoT Security Market Size: Botton Up Approach

IoT Security Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

IoT Security Market Size: Top Down Approach

IoT Security Market Size, and Share

Data Triangulation

After arriving at the overall market size, the IoT Security market was divided into several segments and subsegments. The data triangulation procedures were used to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with data triangulation and market breakdown, the market size was validated by the top-down and bottom-up approaches.

Market Definition

Thales Group defines IoT security as a practice that keeps IoT systems safe. IoT security tools protect from threats and breaches, identify and monitor risks, and can help fix vulnerabilities. IoT security ensures deployed IoT solutions' availability, integrity, and confidentiality.

IoT security is securing IoT devices and networks they’re connected to. The interconnectedness of IoT presents a substantial challenge to enterprises in terms of security risk arising from shadow devices connected to the network and IoT security solutions and services minimizing IoT security concerns and protecting organizations, people, processes, and data from threats, thus minimizing the losses caused due to threats and cyber-attacks on connected devices.

Key Stakeholders

  • Global managed service providers
  • Cloud Service Providers (CSPs)
  • Independent Software Vendors (ISVs)
  • System integrators
  • Value-added Resellers (VARs)
  • Managed Service Providers (MSPs)
  • Chief Financial Officers (CFOs)
  • Information Technology (IT) directors
  • Small and Medium-sized Enterprises (SMEs)
  • IT strategy consultants
  • Managed services consulting vendors
  • Technology partners
  • Research organizations
  • Enterprise users
  • Technology providers

Report Objectives

  • To determine and forecast the global IoT security market based on components, solutions, services, types, deployment modes, application areas, and regions from 2018 to 2028, and analyze various macro and microeconomic factors that affect the market growth
  • To forecast the size of the market segments with respect to five key regions: North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA)
  • To provide detailed information related to the major factors (drivers, opportunities, threats, and challenges) influencing the growth of the IoT security market
  • To analyze each sub-segment for individual growth trends, prospects, and contribution to the total IoT security
  • To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the IoT security
  • To profile key market players comprising top vendors and start-ups; provide comparative analysis based on business overview, regional presence, product offerings, business strategies, and key financials; and illustrate the market’s competitive landscapes
  • To track and analyze competitive developments, such as mergers and acquisitions, product developments, partnerships and collaborations, and Research and Development (R&D) activities, in the market

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Geographic Analysis

  • Further breakup of the Asia Pacific market into countries contributing 75% to the regional market size
  • Further breakup of the North American market into countries contributing 75% to the regional market size
  • Further breakup of the European market into countries contributing 75% to the regional market size
  • Further breakup of the Latin American market into countries contributing 75% to the regional market size
  • Further breakup of the MEA market into countries contributing 75% to the regional market size

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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