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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 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.

Top IoT Security Companies include

• AWS (US)
• Microsoft (US)
• Ericsson (Sweden)
• Thales (France)
• Allot (Israel) and many more....

These players have adopted several organic and inorganic growth strategies, including new product launches, partnerships and collaborations, and acquisitions, to expand their offerings and market shares in global IoT security.

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

Microsoft, an American multinational technology firm, operates through three business segments: productivity and business processes, intelligent cloud, and more personal computing. Microsoft offers a range of services, including solution support, consulting services, and cloud-based solutions that provide customers with software, services, platforms, and content. It offers online advertising and is a global leader in building analytics platforms. Microsoft provides production services for the AI-infused intelligent cloud. The company generates revenues by licensing and supporting a range of software products. It caters to various verticals, including education, insurance, government, health, hospitality and travel, retail, and consumer goods. Microsoft has its presence across North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Amazon Web Services (AWS) is a subsidiary of Amazon that primarily offers cloud computing services in web services to customers in 190 countries. AWS offers over 200 services, including computing, storage, networking, database, analytics, application services, deployment, management, machine learning, mobile, developer tools, RobOps, and tools for the Internet of Things. It is known for its scalability, reliability, and security. Some of the most popular AWS services include EC2, S3, RDS, Redshift, EMR, Lambda, Lex, and Rekognition.

Ericsson is a key player in the IoT Security Market, focusing on providing secure and reliable IoT solutions through its comprehensive portfolio. Ericsson's IoT security offerings include end-to-end security frameworks, secure connectivity, and device management solutions. Their approach ensures data integrity, confidentiality, and authentication across IoT ecosystems. Leveraging their expertise in telecommunications, Ericsson integrates advanced security measures into their IoT platforms to protect against cyber threats and vulnerabilities, enabling secure IoT deployments for industries such as smart cities, transportation, healthcare, and manufacturing.

Thales is a prominent player in the IoT Security Market, providing advanced security solutions to ensure the protection and integrity of IoT ecosystems. Thales offers a range of IoT security services, including secure device management, data encryption, and identity and access management. Their solutions cater to various industries such as automotive, healthcare, and smart cities, ensuring secure connectivity and safeguarding sensitive data. Thales leverages its extensive expertise in cybersecurity to deliver robust, scalable, and compliant IoT security frameworks, addressing the growing need for secure and reliable IoT deployments in an increasingly connected world.

Allot is a key player in the IoT Security Market, specializing in network intelligence and security solutions. Allot's IoT security offerings focus on providing comprehensive threat protection, secure connectivity, and real-time visibility for IoT devices across various sectors, including smart cities, healthcare, and industrial IoT. Their solutions include advanced threat detection, anomaly detection, and policy enforcement to safeguard IoT environments from cyber threats. By leveraging their expertise in network security and traffic management, Allot ensures that IoT networks remain secure, reliable, and efficient, addressing the complex security challenges posed by the proliferation of connected devices.

Related Reports:

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