We are monitoring the impact of COVID-19 on Internet of Things (IoT) Security Market Get in touch with us for detailed analysis Know More
Pulished Date April, 2021
ID: 8535
Share on
Share on

Internet of Things (IoT) Security Market by Type (Network, Endpoint, Application and Cloud Security), Solution (Identity Access Management, Device Authentication and Management, Security Analytics, and IDS/IPS), Service, Application Area and by Region - Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2021 - 2026)

Pulished: April, 2021
ID: 8535
Pages: 170

Internet of Things (IoT) Security Market Size & Growth (2019 - 2024)

The global Internet of Things Security Market is expected to grow at a massive CAGR rate of about 34% between 2019 and 2024 ranging from a value of USD 7.62 billion in 2018 to USD 30.02 billion by 2024. While North America dominates the global market in terms of market share and revenue, followed by the Asia Pacific region, which is advancing strongly further with high rates of CAGR being registered during the forecasted period.

IoT Security Market Drivers & Restraints:

The key market factors which contribute to the growth of the market are the increased attacks of ransomware on IoT systems these days, a mandatory requirement that’s been introduced to comply with the stringent rules and regulations and the increase in risk-based adaptive security for IoT, etc. However, high costs, budget constraints, and physical restraints of IoT devices and applications are acting as hurdles for market growth.

Recent Industry Developments

Internet of Things is among one of the most significant technological trends that has managed to attract the attention of many companies around the world. With the growing integration of IoT products into wireless networks, this market is expected to experience a massive growth rate. Following are few recent industry developments took place.

January 2018 – IBM has partnered with Maersk Global Logistics, a leader in the transportation industry, to use blockchain technology to create a digitized global commerce platform and a more efficient and secure process for driving global commerce. The companies also aimed to harness AI, IoT, and analytics technologies to improve digital circulation and tracking of goods around the world.

During the fall of 2017, while IBM has managed to acquire Agile Solutions, the Cisco acquired Observable Networks. Both these acquisitions were aimed at diversifying their security portfolios in the domain of cloud computing and security capabilities, also complementing the pre-existing IoT policies & platforms.

In May 2017, PTC formed a partnership with Ernst & Young, a multinational professional services firm. This partnership has enabled PTC and Ernst & YoungY to co-create IoT solutions to enable manufacturers to improve end-to-end Product Lifecycle Management (PLM).

In July of 2015, Tustwave has introduced some new IoT security services to help the manufacturers and business users of IoT technology, devices & applications effectively identify and fix IoT threats and vulnerabilities.A recent survey done by the Ponemon Institute has found that most respondents believe their systems fall prey to an IoT cyberattack, but very few are prepared for or are doing anything to thwart such threats. Given the rising number of highly-visible consumer IoT-related security breaches, cybersecurity expert Bruce Schneier has recently called for government regulation of the IoT, concluding that both IoT manufacturers and their customers don’t care about security.

The global Internet of Things Security Market is segmented and sub-segmented as follows:

By Component (Solutions, Services)

By Type (Network, Endpoint, Application, Cloud Security)

By Solution (Identity Access Management, Device Authentication and Management, Security Analytics IDS/IPS)

By Service (Professional Services, Integration Services, Support and Maintenance, Consulting Services, Managed Services)

By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)

The Asia Pacific is the fastest-growing market among all the regions & it is North America which captures a large part of the market in terms of both revenue and share owing to a lot of factors like well sustainable and well-established economies, huge investments put in Research and Development (R&D) activities, significantly contributing to the development of new technologies in IoT and analytics by way of direct/ indirect funding etc. Not only these but countries such as Japan, China, Singapore, Australia, and India are also gaining ground and taking various initiatives in R & D and support for IoT deployments in utilities, manufacturing, and retail sectors.

Some of the key market players actively working in this domain are: PTC Inc. (US), Symantec Corporation (US), Verizon Enterprises Solutions (US), Trustwave (US), Check Point Security Software Technologies Ltd. (US), Cisco Systems, Inc. (US), IBM Corporation (US), Infineon Technologies (Germany), Gemalto NV (Netherlands), AT&T Inc. (US), Trend Micro Inc. (Japan), and Digicert (US).

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                          

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling      

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                         

                                4.1.1 Drivers      

                                4.1.2 Restaints  

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis        

                                5.1.2 Products/Service  

                                5.1.3 Regional Presence               

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Internet of Things (IoT) Security Market, By Component                       

                                6.1.1 Solution    

                                6.1.2 Services    

                                6.1.3 Market Size Estimations & Forecasts (2018-2023)   

                                6.1.4 Y-o-Y Growth Rate Analysis             

                                6.1.5 Market Attractiveness Index          

                6.2 Internet of Things (IoT) Security Market, By Type                     

                                6.2.1 Network  

                                6.2.2 Endpoint  

                                6.2.3 Application              

                                6.2.4 Cloud Security       

                                6.2.5 Market Size Estimations & Forecasts (2018-2023)   

                                6.2.6 Y-o-Y Growth Rate Analysis             

                                6.2.7 Market Attractiveness Index          

                6.3 Internet of Things (IoT) Security Market, By Solution                               

                                6.3.1 Identity Access Management         

                                6.3.2 Device Authentication       

                                6.3.3 Management Security Analytics    

                                6.3.4 IDS/IPS     

                                6.3.5 Market Size Estimations & Forecasts (2018-2023)   

                                6.3.6 Y-o-Y Growth Rate Analysis             

                                6.3.7 Market Attractiveness Index          

                6.4 Internet of Things (IoT) Security Market, By Service                 

                                6.4.1 Professional Services          

                                6.4.2 Integration Services            

                                6.4.3 Support and Maintenance Consulting Services       

                                6.4.4 Managed Services               

                                6.4.5 Market Size Estimations & Forecasts (2018-2023)   

                                6.4.6 Y-o-Y Growth Rate Analysis             

                                6.4.7 Market Attractiveness Index          

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                  

                7.2 North America - Market Analysis (2018 - 2023)                            

                                7.2.1 By Country              



                                7.2.2 By Component      

                                7.2.3 By Type    

                                7.2.4 By Solution              

                                7.2.5 By Service

                7.3 Europe                         

                                7.3.1 By Country              






                                       Rest of Europe

                                7.3.2 By Component      

                                7.3.3 By Type    

                                7.3.4 By Solution              

                                7.3.5 By Service

                7.4 Asia Pacific                  

                                7.4.1 By Country              




                                       South Korea

                                       South East Asia

                                       Australia & NZ

                                       Rest of Asia-Pacific

                                7.4.2 By Component      

                                7.4.3 By Type    

                                7.4.4 By Solution              

                                7.4.5 By Service

                7.5 Latin America                             

                                7.5.1 By Country              




                                       Rest of Latin America

                                7.5.2 By Component      

                                7.5.3 By Type    

                                7.5.4 By Solution              

                                7.5.5 By Service

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                       Middle East


                                7.6.2 By Component      

                                7.6.3 By Type    

                                7.6.4 By Solution              

                                7.6.5 By Service

8. Key Player Analysis                                    

                8.1 PTC Inc.                        

                                8.1.1 Business Description           

                                8.1.2 Products/Service  

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis       

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Symantec Corporation                           

                8.3 Verizon Enterprises Solutions                             

                8.4 Trustwave                   

                8.5 Cehck Point Security Software Technologies Ltd.                       

                8.6 Cisco Systems, Inc.                  

                8.7 IBM Corporations                    

                8.8 Infineon Technologies                           

                8.9 Gemalto NV                               

                8.10 AT&T Inc.                  

9. Market Outlook & Investment Opportunities                                


                List of Tables                     

                List of Figures                   

  • Global,Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of by type,by solution,byapplication,by region, along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Internet of Things (IoT) Security  Market By Region, From 2019-2024 ( USD Billion )
  2. Global Internet of Things (IoT) Security  Market By Component, From 2019-2024 ( USD Billion )
  3. Global Solutions Market By Region, From 2019-2024 ( USD Billion )
  4. Global Services Market By Region, From 2019-2024 ( USD Billion )
  5. Global Internet of Things (IoT) Security  Market By Type, From 2019-2024 ( USD Billion )
  6. Global Network Market By Region, From 2019-2024 ( USD Billion )
  7. Global Endpoint Market By Region, From 2019-2024 ( USD Billion )
  8. Global Application Market By Region, From 2019-2024 ( USD Billion )
  9. Global Cloud Security Market By Region, From 2019-2024 ( USD Billion )
  10. Global Internet of Things (IoT) Security  Market By Solutions, From 2019-2024 ( USD Billion )
  11. Global Identity Access Management Market By Region, From 2019-2024 ( USD Billion )
  12. Global Device Authentication and Management Market By Region, From 2019-2024 ( USD Billion )
  13. Global Security Analytics Market By Region, From 2019-2024 ( USD Billion )
  14. Global IDS/IPS Market By Region, From 2019-2024 ( USD Billion )
  15. Global Internet of Things (IoT) Security  Market By Services, From 2019-2024 ( USD Billion )
  16. Global Professional Services Market By Region, From 2019-2024 ( USD Billion )
  17. Global Integration Services Market By Region, From 2019-2024 ( USD Billion )
  18. Global Support and Maintenance Market By Region, From 2019-2024 ( USD Billion )
  19. Global Consulting Services Market By Region, From 2019-2024 ( USD Billion )
  20. Global Managed Services Market By Region, From 2019-2024 ( USD Billion )

Please wait. . . . Your request is being processed


$ 1234 4255

Click for Request Sample