IoT Security Market Outlook 2019 – Explains the Impact of COVID-19,
Pune, India, December 21, 2021 (GLOBE NEWSWIRE) – The world IoT Security Market The size is expected to reach USD 20,776.1 million by 2027, showing an excellent CAGR of 32.3% during the forecast period. The growing implementation of blockchain technology for enhanced security will have a massive effect on market growth, says Fortune Business Insights, in a report titled “IoT Security Market Size, Share & COVID-19 Impact Analysis, By Component (Software & Services), By Company Size (SMB & Large Enterprises), By Deployment (Cloud & On-Premises), By Type Of product (network security, endpoint security, application security, cloud security and others), by application (smart home, smart manufacturing, connected logistics, connected healthcare, smart retail and others), by industry of use final (Consumer IoT, Manufacturing, Retail, IT & Telecommunications, BFSI, Government, Transportation & Automotive, Energy & Utilities, Healthcare & Others) and Regional Forecast, 2020-2027. The market size was USD 2,221.0 million in 2019.
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The IoT Security Market Report encompasses:
- Comprehensive analysis of dominant regions
- Key factors and constraints
- Latest trends
- Key information about leading players
- Aerial view of the COVID-19 situation
January 2020: Mocana Corporation announced its collaboration with Automotive Grade Linux (AGL), an open source project of the Linux Foundation to strengthen the security of connected and autonomous vehicles.
Lists of Key IoT Security Market Companies:
- Cisco Systems Inc. (California, United States)
- IBM Corporation (New York, United States)
- Intel Corporation (California, United States)
- Thales Group (Gemalto) (La Défense, France)
- Forgerock (California, United States)
- Infineon Technologies AG (Neubiberg, Germany)
- Mocana Corporation (California, United States)
- NortonLifeLock Inc. (Arizona, United States)
- Allot Ltd. (Hod Hasharon, Israel)
- Fortinet, Inc. (California, United States)
- New Sky Internet Limited (Hong Kong)
Scope and segmentation of the report
|Cover of the report||Details|
|Forecast period||2020 to 2027|
|Forecast period 2020 to 2027 CAGR||32.3%|
|2027 value projection||$ 20,776.1 million|
|Year of reference||2019|
|Market size in 2019||$ 2,221.0 million|
|Historical data for||2016 to 2018|
|Number of pages||160|
|Covered segments||Component, Deployment, Company Size, Product Type, End User Industry, Application, Geography|
|Growth drivers||Increased security concerns associated with malware attacks to increase growth|
|Switch to smart connected devices to uplift the market amid coronavirus|
|Government initiatives on the rise to propel the market in Europe|
Increased security concerns associated with malware attacks to increase growth
Growing malware attacks on IoT devices are expected to fuel demand for IoT security in the years to come. For example, Telnet, Mirai, and Denial of Service (DDoS) attacks have become common. Mirai malware can penetrate and attack corporate IoT devices such as digital display televisions (TVs) or wireless presentation systems. The growing need for security to prevent DDoS attacks by hackers will allow the market to expand rapidly. In addition, the escalation of malware attacks will lead to IoT network security solutions among organizations.
Switch to smart connected devices to uplift the market amid coronavirus
The inclination towards machine learning, artificial intelligence, will influence the healthy growth of the market during the coronavirus. Improvements in vehicles and controlled devices will simultaneously encourage the development of the market. Additionally, the growing demand for wireless connected devices in the healthcare industry may have a huge impact on the market amid COVID-19. In addition, AI can help obtain accurate data on symptoms of COVID-19 in individuals, thus promoting the reach of the market.
Government initiatives on the rise to propel the market in Europe
The IoT security market in Europe is expected to show a rapid CAGR in the coming years. The growth in the region is attributed to growing government support for robust security built into wireless products. For example, in October 2018, the government released the Consumer IoT Security Code of Practice. In addition, the government’s announcement of regulatory proposals will further promote healthy market growth. For example, in May 2019, the UK government launched a consultation on regulatory proposals for consumer connected device security.
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Detailed table of contents:
- Definition, by segment
- Research methodology / approach
- Information source
- Key points to remember
- Market dynamics
- Macro and micro economic indicators
- Drivers, constraints, opportunities and trends
- Impact of COVID-19
- Short term impact
- Long term impact
- Competition landscape
- Business strategies adopted by key players
- Consolidated SWOT analysis of the main players
- PESTLE analysis
- Porter’s Five Forces Analysis
- Ecosystem analysis
- Global Market Share Analysis and Matrix, 2019
- Key market insights and strategic recommendations
- Profiles of key players (Provided for key 10 players only)
- Key management
- Headquarters, etc.
- Offers / business segments
- Key details (Key details are subject to data availability in the public domain and / or on chargeable databases)
- Employee size
- Key financial data
- Past and current income
- Gross margin
- Geographic share
- Share of business segment
- Recent developments
- Answers to the main interview
- Annex / Appendix
COT continues … !!!
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