Friday, April 8th, 2016 - WiseGuyReports adds“Internet of Things Security Global Market Analysis to 2016 & Forecast to 2020”reports to its database. We can offer you discount on this report.

This market research report presents a detailed analysis of the global Internet of Things (IoT) security market by end users (utilities, automotive, healthcare, and others), by network security components (hardware, software, and services), and by geography (the Americas, APAC, and EMEA). The leading vendors in this market are Cisco, GE, Infineon Technologies, Intel, and Symantec.

Overview of the global Internet of Things (IoT) security market

Technavio’s market research analyst has estimated the global Internet of Things (IoT) security market to grow profoundly at a CAGR of over 55% by 2020. Much of this growth can be attributed to the rapid adoption of cloud-based services for video management systems, authentication processes, and storing biometrics information. Since numerous organizations are using the cloud to store their confidential data, the need for security measures to secure the cloud against unauthorized access will increase significantly. The adoption of cloud-based services is increasing rapidly in SMEs as cloud-based services work on a pay-per-use model and offer flexibility and scalability to accommodate the varying needs of consumers. Consequently, with the augmented use of cloud-based services for data storage purposes, the need for IoT security solutions will also increase.

An important factor that will impel the prospects for growth in this market is the advent of integrated security solutions. The preference for IoT security solutions among end users is increasing as they provide overall security to devices and networks. As stand-alone IoT security solutions are extremely costly, many end users prefer integrated IoT security solutions as it provides better support and functionality to the customers. Furthermore, with the integration of IoT security solutions with data loss prevention (DLP) and firewalls, the overall cost of owning IoT security solutions will decrease.


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End-user segmentation and analysis of the IoT security market 
Among all the end users, the utilities sector will witness the highest adoption of IoT security solutions during the forecast period. Much of this growth can be attributed to the extensive implementation of smart meters and IoT for utility management systems like water, oil, gas, and energy. Since the transmission of data through wireless networks in such utilities are prone to cyber-attacks, the need for IoT security solutions in this sector will increase. An extensive market study carried out by the analysts at Technavio has shown that the utilities sector will grow at a CAGR of nearly 54% by 2020.

Segmentation by network security components and analysis of the IoT security market 
The hardware segment will account for the largest share of the market during the forecast period and will post an impressive market value of more than USD 18 billion by 2020. Due to the recent increase in sales of hardware security components, the revenue of this market segment will increase. Also, factors such as the rapid adoption of firewall and IDP hardware for integrated security of network infrastructures will also aid in the growth of this market segment during the forecast period.

Competitive landscape and key vendors 
The global IoT security market is heavily fragmented due to the presence of many multinational vendors and small regional players. To survive and succeed in this market, the large vendors often acquire smaller vendors to expand their product portfolio and market share. Also, it is of utmost importance for vendors to distinguish their product and service offerings through a clear and unique selling proposition as it will help them to survive in this competitive market.


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Key vendors in this market are -

-Infineon Technologies 
Other prominent vendors in this market are Axeda Machine Cloud, Broadcom, Digi International, Ericsson, Eurotech, Fortinet, Gemalto, IBM, Kore Wireless, NetComm Wireless, Nokia, Numerex, Palo Alto Networks, Rockwell Automation, Secure Crossing, Sierra Wireless, Sophos, Systech Solutions, Telit, Tofino, and Ventus Wireless.

Key questions answered in the report include 
-What will the market size and the growth rate be in 2020? 
-What are the key factors driving the global IoT security market? 
-What are the key market trends impacting the growth of the IoT security market? 
-What are the challenges to market growth? 
-Who are the key vendors in the IoT security market? 
-What are the market opportunities and threats faced by the vendors in the IoT security market? 
-Trending factors influencing the market shares of the Americas, APAC, and EMEA. 
-What are the key outcomes of the five forces analysis of the IoT security market?


For more information or any query mail at [email protected]


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