IoT Security Market to Grow at 35% CAGR through 2022

Emergence of new technologies, increasing threat of cyberattacks and surging proliferation of connected devices to drive global IoT security market through 2022

According to TechSci Research report, “Global IoT Security Market By Type, By Solution, By End Use Application, By Region, Competition Forecast & Opportunities, 2012 – 2022”, the global IoT security market is projected to grow at a CAGR of 35.4% during 2017-2022. Rising threat of breaches and cyberattacks due to the deployment of advanced tools by hackers, favorable government initiatives for supporting growth in the IoT industry and increasing need for connectivity among devices, owing to the emergence of new technologies, such as smart wearables are some of the factors anticipated to drive demand for IoT security solutions across the globe in the coming years.  

 

Growing awareness about the benefits of IoT security solutions is resulting in the mergers & acquisitions of cybersecurity startups by large enterprises such as Red Hat, Cisco and Microsoft for securing and strengthening their IoT portfolios and cloud services. Moreover, several companies are making huge investments in their research & development departments for artificial intelligence, aimed at boosting their IoT strategy and consultancy. All these factors coupled with increasing demand for smart-automated connected products are expected to thrive global IoT security market during the forecast period.   

 

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“Rising internet penetration, growing BYOD trend and increasing adoption of IoT technology in various application areas including smart cities, smart manufacturing, transportation, building & home automation, etc., would drive demand for IoT security solutions, globally, over the course of next five years. Moreover, increasing focus towards Industrial Internet of Things (IIoT) is anticipated to fuel market growth in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global IoT Security Market By Type, By Solution, By End Use Application, By Region, Competition Forecast & Opportunities, 2012 – 2022” has evaluated the future growth potential of global IoT security market and provides statistics and information on market structure, size, share and future growth of IoT security market, globally. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the global IoT security market. 

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