Internet of Things Security Market (Updated Version Available)

Key Market Overview

Internet of Things Security market size was worth USD 18.19 Billion in 2022, witnessing a CAGR of 22.1% during the forecast period (2022-2030), and the market is expected to hit a valuation of around USD 89.86 Billion by 2030.

The primary drivers propelling the growth of the IoT security market are growing IoT deployment, rising ransomware attacks on IoT devices, rising demand to safeguard linked network infrastructure, rising numbers of IoT security regulations, and rising importance of security & privacy issues. The COVID-19 pandemic and the rise in new IoT threat types, however, as well as the deteriorating state of the world economy, constrain the markets expansion for IoT security.

The global spread of the coronavirus pandemic has significantly altered working conditions. While employees in the government, education, and IT sectors have adapted to the working environment. Organizations are compelled to adapt quickly, allowing for a strong, secure communication network. Malware, ransomware, email phishing operations across connected networks, and phoney websites that offer advise or donations are among the most frequent security threats. Such circumstances are likely to call for cutting-edge security solutions. The economic impact of the pandemic is expected to vary depending on country- and region-specific factors, it is vital to emphasise.

Report Attributes	Report Details
Study Timeline	2018-2030
Market Size in 2030 (USD Billion)	89.86 Billion
CAGR (2022-2030)	22.1 %
By Component	Software, and Services
By Deployment	Cloud, On-Premises
By Enterprise Size	SMEs, and Large Enterprises
By Product Type	Network Security, Endpoint Security, Application Security, Cloud Security, and Others
By Application	Smart Homes, Smart Manufacturing, Connected Logistics, and Others
By Geography	Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia] Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland] North America [United States, Canada, Mexico] Middle East & Africa [GCC, North Africa, South Africa] South America [Brazil, Argentina, Columbia, Chile, Peru]
Key Players	Thales Group, Forgerock, Infineon Technologies AG, New Sky Internet Limited, Cisco Systems Inc, IBM Corporation, Intel Corporation, Mocana Corporation, NortonLifeLock Inc, Allot Ltd, Fortinet, Inc, Others

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We have conducted a 360-degree analysis of the Internet of Things Security market. Approaches for both primary and secondary research. As a result, we were better able to comprehend current market dynamics, the supply-demand imbalance, pricing trends, product preferences, customer behaviours, and other factors. Primary research was used to further validate the findings with industry professionals and opinion leaders from other nations. Through a variety of market estimation and data validation procedures, the data is further collated and validated. Additionally, we have a model for internally generated data that forecasts market growth until 2030.

Internet of Things Security Market Segmentation Analysis:-



By Component:

• Software
• Services

By Deployment:

• Cloud
• On-Premises

By Enterprise Size:

• SMEs
• Large Enterprises

By Product Type:

• Network Security
• Endpoint Security
• Application Security
• Cloud Security
• Others

By Application:

• Smart Homes
• Smart Manufacturing
• Connected Logistics
• Others

Global Internet of Things Security Market Competitive Landscape:

The market research report on the Internet of Things Security market comprises the compilation of quantitative and qualitative evaluations of the industry position. Additionally, the in-detailed analysis of the market trends adopted by the industry players and the macroeconomic indicators influencing the value chain of businesses provide a complete outlook of market circumstances. Thus, mentioned are the major industry players that make up the consolidated market concentration–

• Thales Group
• Forgerock
• Infineon Technologies AG
• New Sky Internet Limited
• Cisco Systems Inc
• IBM Corporation
• Intel Corporation
• Mocana Corporation
• NortonLifeLock Inc.
• Allot Ltd
• Fortinet, Inc.
• Others

With strategic analysis, micro and macro market trend and scenarios, pricing analysis, and an all-encompassing picture of the market conditions in the projected period, the Internet of Things Security Market Research Report keeps a close eye on the leading competitors. It is an expertly written, in-depth study that emphasises key and secondary drivers, market share, top categories, and regional analysis. The paper also examines prominent actors, significant partnerships, mergers, and acquisitions, as well as popular innovations and business practises.

Overview of the market for Internet of Things Security by region:



The market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa based on region (MEA). The North American continent is further divided into nations like the United States and Canada. Europe is further divided into the United Kingdom, France, Germany, Italy, Spain, Russia, and the Rest of Europe. China, Japan, South Korea, India, Australia, South East Asia, and the rest of Asia Pacific make up the subregion of Asia Pacific. The MEA region is further separated into GCC, Turkey, South Africa, and Rest of MEA. The Latin America region is further divided into Brazil, Mexico, and Rest of Latin America.