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IoT Security Market Expected To Cross USD 42.92 Billion By 2025: Global Forecast News

November 18, 2019 by Market-NewsFlash  

Global IoT Security Market Research Report: Information by Type (Network Security, Endpoint Security, Solution Security, and Cloud Security), Solution (Identity Access Management, Device Authentication and Management, Secure Communication, Security Analytics, Trusted Identification, Data Encryption and Tokenization, and Others), Technology (Facial Recognition, Iris Recognition, and Fingerprint Identification), Vertical (Retail, Manufacturing, Healthcare, Transportation, Energy & Utilities, IT and Telecommunication, BFSI, and Others), Region (North America, Europe, Asia-Pacific, Middle East & Africa, South America) — Forecast till 2025

IoT security Market Synopsis 

The global IoT security market is expected to register 32.6% CAGR during the forecast period to reach USD 42.92 billion by 2025. IoT security is needed to secure the Internet of Things devices (IoT devices) and the networks, to which these are connected. In any organization, IoT devices include industrial machines, smart energy grids, building automation, and personal IoT devices which employees use for work. It is estimated that approximately 75 billion connected devices will be present globally in 2025. With such huge number of IoT devices such as wearables, pacemakers, thermometers and smart plugs in the enterprises and the home, criminal minds can leverage them in cyber attacks. The vulnerabilities make these IoT devices more susceptible to cyber attacks as these devices can connect, which can form an IoT botnet.

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IOT Security solutions acquired major market share of ~60% in 2015. IOT Security solutions will continue to hold maximum share of 55% in 2022 because of increasing connectivity of healthcare IOT devices with the caregivers globally; new access points get created for hackers to conduct cyber crimes

In services, risk assessment services acquired major share of around 32% in 2015. Risk assessment services will continue to acquire major share of approximately 28% in future (2022) as well in order to identify and mitigate risks related to IOT Security in the healthcare sector

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Regional Analysis

The global IoT security market is estimated to grow at a CAGR of 32.6% during the forecast period from 2019 to 2025. The geographic analysis of the global IoT security market has been conducted for North America, Europe, Asia-Pacific, Middle East & Africa, and South America.

North America accounted for the highest market share, owing to the enterprises deploying the IoT security solutions and services for securing the IoT devices and sensors. For analysis, the North American market has been segmented into the US, Canada, and Mexico. The US leads the market in North America as it is one of the most technologically advanced countries and also has implemented IoT on a large scale.

Asia-Pacific is anticipated to be the fastest-growing market during the review period due to the tremendous growth in the IoT data and the growing demand for advanced analytics. The regional market has been segmented into China, Japan, India, and the rest of Asia-Pacific.

North America commands the major market share in 2015, while Asia will prove to be the fastest growing region for healthcare IOT security Market in near future

North America is the region acquiring a major share around 47% in the healthcare IOT Security because of the rapid adoption of healthcare IOT

Data privacy and security concerns among the healthcare organizations and patients’ related to healthcare IOT are also driving the growth of the market

APAC is expected to grow at a highest CAGR ~45% as this region comprises 60% of the world population and with the raid healthcare IOT adoption for managing growing chronic illness, IOT security will become crucial in the near future.

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This report includes a study of strategies, of major market players. It includes the product portfolios, developments of leading major players such as Inside Secure SA (France), IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), Intel Corporation (U.S.), Oracle Corporation (U.S.), Sophos Ltd. (U.K.), and others.

this research report has provides the insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenerios & strategies, of the global healthcare IOT security market, including the high-growth regions, countries and their political, economical and technological environments. Furthermore the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.

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