IoT Security Market Future Growth, Key Players, Growth Opportunities, Demand and Forecast

WILMINGTON, DE, UNITED STATES, November 28, 2023 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “IoT Security Market by Component, Deployment Model, Organization Size, Product Type, Security Type, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2019-2026,”

The global IoT security market was valued at $8.472 billion in 2018, and is projected to reach $73.918 billion by 2026, growing at a CAGR of 31.20% from 2019 to 2026.

Download Sample Report: https://www.alliedmarketresearch.com/request-sample/4426

Increase in the number of ransomware attacks on various IoT devices and surge in number of IoT security regulations among the developing economies drive the growth of the market. In addition, rise in malware and phishing threats among different enterprises propels the growth of the market.

However, budget constraints among organizations and expensive IoT security solutions hamper the growth of the market. Furthermore, increase in need for IoT security solution and adoption of IoT security solutions by various developing nations is expected to present major opportunities for the expansion of the market in future.

Manufacturing sector is expected to attain significant growth in the upcoming years, owing to the rise of industrial IoT and surge in deployment of IoT in manufacturing industries.

Inquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/4426

Competitive Analysis:
The competitive environment of IoT Security Industry is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, IoT Security Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key Players:
IBM Corporation
Intel Corporation
Infineon Technologies AG
Cisco Systems Inc.
Broadcom
Gemalto NV
Fortinet Inc
SecuriThings
Palo Alto Networks Inc
Trend Micro Incorporated and Many More

Region wise, the global IoT security market was dominated by North America in 2018 and is expected to maintain this trend during the forecast period. The major factors driving the growth of the market in this region includes various government investments and contracts to increase the security level for public safety. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period, owing to the increasing focus by countries on deploying IoT security in various smart cities projects and surge in investment in IoT by developing nations such as India and China.

Buy Now: https://www.alliedmarketresearch.com/checkout-final/cb2f035069f733ce895d2d1cdbb2c5ae

The network security segment dominated the IoT security market industry in 2018 and is projected to maintain its dominance during the forecast period, owing to it advance features of securing network form various threats by collecting and analyzing the different types of network security event information. Furthermore, end-point security segment is expected to grow at a significant CAGR during the forecast period, owing to large number of IoT devices deployed on networks enforces enterprises to adopt endpoint security solutions.

The energy & utility sector dominated the IoT security market industry in 2018 and is projected to maintain its dominance during the forecast period, owing to increase in the adoption of IoT in various devices such as smart meters, smart appliances, and renewable energy resources. Furthermore, the IT & telecom sector is expected to grow at a significant CAGR during the forecast period, owing to the rise in demand for advanced IoT devices among the organization and the increase in penetration of IoT devices in household appliances.

Trending Reports:
iot in transportation market: https://www.alliedmarketresearch.com/IoT-in-transportation-market
iot in aerospace & defense market: https://www.alliedmarketresearch.com/internet-of-things-in-aerospace-and-defense-market
IoT in Smart Cities Market: https://www.alliedmarketresearch.com/iot-in-smart-cities-market-A13168
IoT Market: https://www.alliedmarketresearch.com/internet-of-things-iot-market

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn