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
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Request Now[144 Pages Report] The global IoT Security Market size is expected to grow from USD 8.2 billion in 2018 to USD 35.2 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 33.7% during the forecast period. Major factors driving the growth of the market are the increasing number of ransomware attacks on IoT devices across the globe, growing IoT security regulations, and rising security concerns over critical infrastructures.
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The network security segment to hold the largest IoT security market size during the forecast period
Network security is a technique for securing networks from advanced threats by collecting and analyzing the different types of network security event information. It combines the multiple layers of defenses at the edge and in networks. It is one of the important aspects when it comes to securing the IoT ecosystem. It consists of wireless communication, remote access security, and gateway. Wireless communication is carried out with the help of various secure protocols, including LPWAN, Zig-bee, 6LowPAN, Bluetooth, Z-Wave, and NFC. In the IoT ecosystem, a huge amount of data is communicated through remote devices; therefore, the security of this wireless communication plays a significant role in network security.
The smart energy and utilities segment to grow at the highest CAGR during the forecast period
Smart energy includes smart meters, smart appliances, renewable energy resources, and energy efficient resources. The organizations in this smart energy and utilities industry primarily focus on 3 aspects while deploying smart energy systems. These aspects are electricity distribution, production control, and electronic power conditioning. The integration of IoT with all these aspects helps reduce costs to develop, test, and deploy the interconnected networks in the ultimate energy grids. Security threats to energy networks include malware injections, denial of service, attacks on privacy, and thefts of data and energy.
North America to hold the largest market size during the forecast period
North America comprises developed countries, such as the US and Canada. These countries have invested significantly in R&D activities, thereby contributing to the development of innovative technologies. The US and Canada are the early adopters of trending technologies, such as IoT, big data, and mobility, and they create enormous opportunities for IoT security vendors. The startup culture in North America is growing at a faster pace as compared to that of other regions. The increasing number of Small and Medium-sized Enterprises (SMEs) and growing digitization trend in different industries are expected to boost the growth of the North American market.
Key IoT Security Market Players
The major vendors in the market include Cisco (US), IBM (US), Infineon (Germany), Intel (US), Symantec (US), Gemalto (Netherlands), Allot (Israel), Fortinet (US), Zingbox (US), Mocana (US), SecuriThings (Israel), CENTRI (Germany), Armis (US), ForgeRock (US), and NewSky (US).
Scope of the report:
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Report Metrics |
Details |
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Market size available for years |
20162023 |
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Base year considered |
2017 |
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Forecast period |
20182023 |
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Forecast units |
Value (USD) |
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Segments covered |
Type (network, endpoint, application, cloud, and others (email security, web security, content security)), Component (solutions and services), Solutions (identity access management, data encryption and tokenization, intrusion detection system/intrusion prevention system, device authentication and management, secure software and firmware update, secure communications, PKI lifecycle management, distributed denial of service protection, security analytics, and others(virtual firewall and incidence response system)), Services (professional and managed services), Application Area (smart manufacturing, smart energy and utilities, connected logistics, smart home and consumer electronics, connected healthcare, smart government and defense, smart transportation, smart retail, and others(Smart agriculture and smart education), and Region |
|
Geographies covered |
North America, APAC, Europe, MEA, and Latin America |
|
Companies covered |
Cisco (US), IBM (US), Infineon (Germany), Intel (US), Symantec (US), Gemalto (Netherlands), and Allot (Israel), among others. A total of 15 players covered. |
This research report categorizes the IoT security market based on types, components, solutions, services, application areas, and regions.
By Type:
- Network Security
- Endpoint Security
- Application Security
- Cloud Security
- Others (email security, content security and web security)
By Component
- Solutions
- Services
By Solution:
- Identity Access Management
- Data Encryption and Tokenization
- Intrusion Detection System/Intrusion Prevention System
- Device Authentication and Management
- Secure Software and Firmware Update
- Secure Communications
- PKI Lifecycle Management
- Distributed Denial of Service (DDoS) Protection
- Security Analytics
- Others (smart education and smart agriculture)
By Service:
- Professional Services
- Managed Services
By Professional Service:
- Integration Services
- Support and Maintenance Services
- Consulting Services
By Region:
- North America
- Europe
- APAC
- MEA
- Latin America
Recent Developments:
- In February 2019, Mocana collaborated with Intel to integrate Mocanas TrustCenter with the Intel Secure Device Onboard service. This new collaboration would simplify IoT device security.
Key questions addressed by the report:
- Where would all these developments take the market in the mid to long term?
- What are the upcoming industry solutions for the IoT security market?
- Which are the major factors expected to drive the market?
- Which region would offer high growth for the vendors in the market?
- Which solution would gain the highest market share in the market?
Frequently Asked Questions (FAQ):
What is IoT Security?
What are the solutions required for IoT Security?
Which are the top industry players in the IoT Security market?
What are the top trends in IoT Security market?
Trends that are impacting IoT Security market includes:
- Increasing Number of Ransomware Attacks on IoT Devices to Be A Critical Threat Across the Globe
- Growing Number of IoT Security Regulations
- Rising Security Concerns for Critical Infrastructure
Opportunities for the IoT Security market:
- Increasing Data Risk in IoT Networks
- Growing Need for IoT Security Solutions With Multiplying Variants of Attacks
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 18)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders
2 Research Methodology (Page No. - 22)
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakup of Primary Profiles
2.1.2.2 Key Industry Insights
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.3.1 Top-Down Approach
2.3.2 Bottom-Up Approach
2.4 Market Forecast
2.5 Competitive Leadership Methodology
2.6 Assumptions for the Study
2.7 Limitations of the Study
3 Executive Summary (Page No. - 29)
4 Premium Insights (Page No. - 32)
4.1 Attractive Opportunities in the IoT Security Market
4.2 Global Market Top 2 Types and Regions
4.3 Market By Region
4.4 Market Global Revenue Share
5 Market Overview (Page No. - 34)
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 (Page No. - 42)
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 IoT Security Market By Type (Page No. - 46)
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 IoT Security Market By Solution (Page No. - 53)
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 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 (Page No. - 65)
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 IoT Security Market By Application Area (Page No. - 71)
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 IoT Security 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 IoT Security 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 (Page No. - 82)
11.1 Introduction
11.2 North America
11.2.1 United States
11.2.1.1 Increasing Government Investments and Contracts to Drive the Growth of the Market in the Us
11.2.2 Canada
11.2.2.1 Canadian Government Invested USD 20.6 Billion to Increase Security Level for Public Safety
11.3 Europe
11.3.1 United Kingdom
11.3.1.1 UK Government to Launch New Initiatives for Integrating IoT With Various Business Processes
11.3.2 Germany
11.3.2.1 Germany Increased IoT Security Activities to Enhance Cybersecurity
11.3.3 Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.1.1 Implementation of Smart City Initiatives to Contribute Toward the Growth of the IoT Security Market
11.4.2 India
11.4.2.1 Initiatives for Developing Smart Cities and Smart Manufacturing to Boost the Growth of the Market in India
11.4.3 Rest of Asia Pacific
11.5 Middle East and Africa
11.5.1 Kingdom of Saudi Arabia
11.5.1.1 Increasing Investments in IoT to Drive the Demand for IoT Security Solutions
11.5.2 United Arab Emirates
11.5.2.1 Dubai IoT Strategy and Data Wealth Initiative to Drive the Growth of the IoT Security Market
11.5.3 Rest of Middle East and Africa
11.6 Latin America
11.6.1 Brazil
11.6.1.1 Increasing Government Initiatives to Boost the Growth of the IoT Security Market
11.6.2 Mexico
11.6.2.1 Private Organizations to Take Initiatives to Enhance Awareness of IoT Potential in Mexico
11.6.3 Rest of Latin America
12 Competitive Landscape (Page No. - 104)
12.1 Overview
12.2 Competitive Leadership Mapping (Overall Market)
12.2.1 Visionary Leaders
12.2.2 Dynamic Differentiators
12.2.3 Innovators
12.2.4 Emerging Companies
12.3 Ranking of Key Players
12.4 Competitive Leadership Mapping Overview (Startup)
12.4.1 Progressive
12.4.2 Responsive
12.4.3 Dynamic Companies
12.4.4 Starting Blocks
12.5 Competitive Scenario
12.5.1 New Product Launches and Product Enhancements
12.5.2 Partnerships, Collaborations, and Agreements
12.5.3 Mergers and Acquisitions
13 Company Profiles (Page No. - 112)
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
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
*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
14 Appendix (Page No. - 137)
14.1 Discussion Guide
14.2 Knowledge Store: Marketsandmarkets Subscription Portal
14.3 Available Customizations
14.4 Related Reports
14.5 Author Details
List of Tables (80 Tables)
Table 1 United States Dollar Exchange Rate, 20152017
Table 2 Factor Analysis
Table 3 IoT Security Market Size and Growth Rate, 20162023 (USD Million, Y-O-Y %)
Table 4 Market Size By Component, 20162023 (USD Million)
Table 5 Solutions: Market Size By Region, 20162023 (USD Million)
Table 6 Services: Market Size By Region, 20162023 (USD Million)
Table 7 IoT Security Market Size, By Type, 20162023 (USD Million)
Table 8 Network Security: Market Size By Region, 20162023 (USD Million)
Table 9 Endpoint Security: Market Size By Region, 20162023 (USD Million)
Table 10 Application Security: Market Size By Region, 20162023 (USD Million)
Table 11 Cloud Security: Market Size By Region, 20162023 (USD Million)
Table 12 Others Type: Market Size By Region , 20162023 (USD Million)
Table 13 IoT Security Market Size, By Solution, 20162023 (USD Million)
Table 14 Identity Access and Management: Market Size By Region, 20162023 (USD Million)
Table 15 Data Encryption and Tokenization: Market Size By Region, 20162023 (USD Million)
Table 16 Intrusion Detection System and Intrusion Prevention System: Market Size By Region, 20162023 (USD Million)
Table 17 Device Authentication and Management: IoT Security Market Size, By Region, 20162023 (USD Million)
Table 18 Secure Software and Firmware Update: Market Size By Region, 20162023 (USD Million)
Table 19 Secure Communications: Market Size By Region, 20162023 (USD Million)
Table 20 Public Key Infrastructure Lifecycle Management: Market Size By Region, 20162023 (USD Million)
Table 21 Distributed Denial of Service Protection: Market Size By Region, 20162023 (USD Million)
Table 22 Security Analytics: Market Size By Region, 20162023 (USD Million)
Table 23 Other Solutions: Market Size By Region, 20162023 (USD Million)
Table 24 IoT Security Market Size, By Service, 20162023 (USD Million)
Table 25 Professional Services: IoT Security Market Size, By Region, 20162023 (USD Million)
Table 26 Professional Services: Market Size By Type, 20162023 (USD Million)
Table 27 Integration Service Market Size, By Region, 20162023 (USD Million)
Table 28 Consulting Service Market Size, By Region, 20162023 (USD Million)
Table 29 Support and Maintenance Service Market Size, By Region, 20162023 (USD Million)
Table 30 Managed Services Market Size, By Region, 20162023 (USD Million)
Table 31 IoT Security Market Size, By Application Area, 20162023 (USD Million)
Table 32 Smart Manufacturing: Market Size By Region, 20162023 (USD Million)
Table 33 Smart Energy and Utilities: Market Size By Region, 20162023 (USD Million)
Table 34 Connected Logistics: IoT Security Market Size, By Region, 20162023 (USD Million)
Table 35 Smart Home and Consumer Electronics: Market Size By Region, 20162023 (USD Million)
Table 36 Connected Healthcare: Market Size By Region, 20162023 (USD Million)
Table 37 Smart Government and Defense: Market Size By Region, 20162023 (USD Million)
Table 38 Smart Transportation: Market Size By Region, 20162023 (USD Million)
Table 39 Smart Retail: Market Size By Region, 20162023 (USD Million)
Table 40 Others Application Area: Market Size By Region, 20162023 (USD Million)
Table 41 IoT Security Market Size, By Region, 20162023 (USD Million)
Table 42 North America: IoT Security Market Size, By Component, 20162023 (USD Million)
Table 43 North America: Market Size By Type, 20162023 (USD Million)
Table 44 North America: Market Size By Solution, 20162023 (USD Million)
Table 45 North America: Market Size By Service, 20162023 (USD Million)
Table 46 North America: Market Size By Professional Service Type, 20162023 (USD Million)
Table 47 North America: Market Size By Application Area, 20162023 (USD Million)
Table 48 North America: Market Size By Country, 20162023 (USD Million)
Table 49 Europe: IoT Security Market Size, By Component, 20162023 (USD Million)
Table 50 Europe: Market Size By Type, 20162023 (USD Million)
Table 51 Europe: Market Size By Solution, 20162023 (USD Million)
Table 52 Europe: Market Size By Service, 20162023 (USD Million)
Table 53 Europe: Market Size By Professional Service Type, 20162023 (USD Million)
Table 54 Europe: Market Size By Application Area, 20162023 (USD Million)
Table 55 Europe: Market Size By Country, 20162023 (USD Million)
Table 56 Asia Pacific: IoT Security Market Size, By Component, 20162023 (USD Million)
Table 57 Asia Pacific: Market Size By Type, 20162023 (USD Million)
Table 58 Asia Pacific: Market Size By Solution, 20162023 (USD Million)
Table 59 Asia Pacific: Market Size By Service, 20162023 (USD Million)
Table 60 Asia Pacific: Market Size By Professional Service Type, 20162023 (USD Million)
Table 61 Asia Pacific: Market Size By Application Area, 20162023 (USD Million)
Table 62 Asia Pacific: Market Size By Country, 20162023 (USD Million)
Table 63 Middle East and Africa: IoT Security Market Size, By Component, 20162023 (USD Million)
Table 64 Middle East and Africa: Market Size By Type, 20162023 (USD Million)
Table 65 Middle East and Africa: Market Size By Solution, 20162023 (USD Million)
Table 66 Middle East and Africa: Market Size By Service, 20162023 (USD Million)
Table 67 Middle East and Africa: Market Size By Professional Service Type, 20162023 (USD Million)
Table 68 Middle East and Africa: Market Size By Application Area, 20162023 (USD Million)
Table 69 Middle East and Africa: Market Size By Country, 20162023 (USD Million)
Table 70 Latin America: IoT Security Market Size, By Component, 20162023 (USD Million)
Table 71 Latin America: Market Size By Type, 20162023 (USD Million)
Table 72 Latin America: Market Size By Solution, 20162023 (USD Million)
Table 73 Latin America: Market Size By Service, 20162023 (USD Million)
Table 74 Latin America: Market Size By Professional Service Type, 20162023 (USD Million)
Table 75 Latin America: Market Size By Application Area, 20162023 (USD Million)
Table 76 Latin America: Market Size By Country, 20162023 (USD Million)
Table 77 Evaluation Criteria
Table 78 New Product Launches and Product Enhancements, 20172018
Table 79 Partnerships, Collaborations, and Agreements, 20162019
Table 80 Mergers and Acquisitions, 20162018
List of Figures (36 Figures)
Figure 1 IoT Security Market: Research Design
Figure 2 Market Estimation and Forecast Methodology
Figure 3 Competitive Leadership Mapping: Criteria Weightage
Figure 4 IoT Security Market, Top 3 Segments, 2018
Figure 5 Solutions Segment to Account for A Higher Market Share in 2018
Figure 6 Increasing Risks to Data Privacy in Vast IoT Networks to Act as an Opportunity in the IoT Security Market
Figure 7 Network Security Segment and North America to Hold the Highest Market Shares in 2018
Figure 8 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 9 North America to Emerge as the Best Market for Investment Over the Next 5 Years
Figure 10 Drivers, Restraints, Opportunities, and Challenges: IoT Security Market
Figure 11 Trend of IoT Attacks in 2017, By Region
Figure 12 Services Segment to Grow at A Higher CAGR During the Forecast Period
Figure 13 Cloud Security Segment to Grow at the Highest CAGR During the Forecast Period
Figure 14 Identity Access Management Segment to Hold the Largest Market Size During the Forecast Period
Figure 15 Managed Services Segment to Grow at A Higher CAGR During the Forecast Period
Figure 16 Smart Manufacturing Segment to Hold the Largest Market Size During the Forecast Period
Figure 17 North America to Hold the Largest Market Size During the Forecast Period
Figure 18 North America: Market Snapshot
Figure 19 Asia Pacific: Market Snapshot
Figure 20 IoT Security Market (Global), Competitive Leadership Mapping, 2018
Figure 21 Ranking of Key Players in the IoT Security Market, 2018
Figure 22 IoT Security Market (Global), Startup Competitive Leadership Mapping, 2018
Figure 23 Key Developments By the Leading Players in the IoT Security Market During 20162018
Figure 24 Cisco: Company Snapshot
Figure 25 Cisco: SWOT Analysis
Figure 26 IBM: Company Snapshot
Figure 27 IBM: SWOT Analysis
Figure 28 Intel: Company Snapshot
Figure 29 Intel: SWOT Analysis
Figure 30 Infineon: Company Snapshot
Figure 31 Infineon: SWOT Analysis
Figure 32 Symantec: Company Snapshot
Figure 33 Symantec: SWOT Analysis
Figure 34 Gemalto: Company Snapshot
Figure 35 Allot: Company Snapshot
Figure 36 Fortinet: Company Snapshot
The study involved 4 major steps to estimate the current market size for the IoT security market. The exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the overall market size. Thereafter, market breakup and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources, such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet, have been referred to, to identify and collect information for this study. These secondary sources included annual reports; press releases and investor presentations of companies; white papers, technology journals, and certified publications; and articles from recognized authors, directories, and databases.
Primary Research
The IoT security market comprises several stakeholders, such as solution and service providers, support and maintenance service providers, manufacturing enterprises, technology consultants, system design and development vendors, and logistics and supply chain management providers. The extensive primary research was conducted to gather information, and verify and validate the critical numbers arrived at. Primary research was also conducted to identify the segmentation types; industry trends; key players; competitive landscape of different market players; and key market dynamics, such as drivers, restraints, opportunities, challenges, industry trends, and key strategies. Following is the breakup of primary respondents:
IoT Security Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the overall size of the market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the in the market have been identified through the extensive secondary research.
- The IoT security market expenditure across regions, along with the geographic split in various segments have been considered to arrive at the overall market size.
- All percentage shares, splits, and breakups have been determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size using the market size estimation processes as explained above the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakup procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the IoT security industry.
Report Objectives:
- To define, describe, and forecast the IoT security market by type, component, solution, service, application area, and region
- To provide detailed information about the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the market growth
- To analyze opportunities in the market and provide details of the competitive landscape for stakeholders and market leaders
- To forecast the market size of the segments with respect to 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
- To profile key players and comprehensively analyze their market rankings and core competencies1
- To analyze competitive developments, such as new partnerships, new contracts, and new product developments, in the IoT security market
1Core competencies of the companies have been captured in terms of their key developments and key strategies adopted by them to sustain their positions in the market.
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the companys specific needs. The following customization options are available for the report:
Geographic Analysis
- Further breakup of the North American market into the US and Canada
- Further breakup of the European market into the UK, Germany, and Rest of Europe
- Further breakup of the APAC market into China, India, and Rest of APAC
- Further breakup of the MEA market into the KSA, UAE, and Rest of MEA
- Further breakup of the Latin American market into Brazil, Mexico, and Rest of Latin America
Company Information
- Detailed analysis and profiling of additional market players
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Growth opportunities and latent adjacency in IoT Security Market
Understanding market sizing and vendors in IOT space
Understanding of security products related to IOT
Understanding the key players in IOT security market
Interested in IOT security market
Interested in IOT market
Understanding of IOT security market
Understanding the market size and segments of global IOT security market.
Product based and industry based market sizing of manufacturing and healthcare industry
Interested in maerket sizing of security for IOT
Interested in endpoint and application security