PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1076126
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1076126
Global IoT Security Market, By Component, By Type, By Deployment Mode, By Organization Size, By Application, By Region, Trend Analysis, Competitive Market Share & Forecast, 2018-2028
IoT Security Market to Grow at a CAGR of 12.40% in the Forecast Period
The IoT security market is growing at a high CAGR because of the rising adoption of IoT systems among various verticals including manufacturing, logistics, healthcare, government, transportation, etc., along with increasing threats of cyber security and breaches..
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global IoT security market was worth USD 15 billion in the year 2021. It is estimated to grow at a CAGR of 12.40%, earning revenue of around USD 61.6 billion by the end of 2028. The IoT security market is flourishing at a high rate owing to the rising adoption of IoT systems among various verticals including manufacturing, logistics, healthcare, government, transportation, etc., along with increasing threats of cyber security and breaches. Furthermore, expanding government investment towards the establishment of smart cities and the increasing need for advanced solutions for boosting protection from potential cyber attacks is anticipated to fuel the market growth in the forecast period.
Rising Demand for Cloud Deployment is Driving IoT Security Market
Based on deployment, the IoT security market is segmented into on-premises and cloud. The cloud-based segment accounted for the largest share in the market in 2021. This type of deployment witnessed the highest growth post the COVID-19 pandemic owing to the higher security and low-cost solutions and services it offers along with real-time detection and security analytics. However, the on-premises segment also covers a substantial market share as some large enterprises opt for this deployment type.
Increasing Adoption of IoT Security among Small and Medium-Sized Enterprises is Propelling the Overall Market Growth
Based on organization size, the IoT security market is segmented into small and medium-sized enterprises and large enterprises. The large organization segment holds the largest market share owing to the high financial capability for the integration of advanced technologies into business operations. However, the small and medium-sized enterprises segment is projected to witness the highest CAGR during the forecast period. The IoT systems are gaining significant traction among SMEs as it allows them to reduce costs, which is estimated to fuel the demand for IoT security.
IoT Security Market - By Application
Based on application, the IoT security market is segmented into smart manufacturing, smart energy and utilities, connected logistics and transportation, smart home and consumer electronics, connected healthcare, smart government and defense, smart retail, and others. The smart manufacturing segment accounts for the largest market share owing to the rising adoption of connected devices and sensors, etc., to increase efficiency, reduce errors, along with leveraging on the benefits of predictive maintenance. Therefore, various leading manufacturers are investing in IoT technology, which is anticipated to boost the growth of the IoT security market in the forecast period.
IoT Security Market - Regional Insights
Geographically, the IoT security market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. North America dominates the IoT security market. However, the Asia-Pacific region is projected to witness the highest growth rate during the forecast period. Countries such as China, India, Japan, etc., are emerging as manufacturing hubs with China already dominating the market. The leading manufacturers in this region are investing in the adoption of IoT systems to boost their business efficiency, which is anticipated to drive the IoT security market in the forecast period.
Impact of COVID-19 on IoT Security Market
The IoT security market was negatively impacted by the unprecedented COVID-19 pandemic outbreak. The lockdown imposed by the countries to mitigate the virus spread resulted in restrictions on the manufacturing and supply chains of various end-user industries including manufacturing, logistics, transportation, energy, etc. Furthermore, the supply of IoT sensors and components was also halted due to a shortage of semiconductor chips which obstructed the adoption of IoT systems in the business. All these factors contributed to the hindrance in the overall growth of the IoT security market.
Competitive Landscape
The leading market players of the IoT security market are Microsoft Corporation, Amazon Web Services, Entrust Corp., Google, Kaspersky Lab, IBM Corporation, Palo Alto, Intel Corporation, Mocana, Cisco Systems, Inc., Happiest Minds, Telefonaktiebolaget LM Ericsson, Fortinet, Thales Group, Check Point Software Technologies, Allot Ltd., Infineon Technologies AG, MagicCube, Inc., Forgerock, and other prominent players.
The market is highly fragmented due to the presence of several global and regional industry players. However, multinational conglomerates such as Google, IBM, Cisco, still dominate a major portion of the market. The companies significantly focus on boosting their security and often launch innovative solutions and services to expand their market presence. The adoption of competitive strategies such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.
Don't miss the business opportunity of the IoT security market. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the IoT security market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the IoT security market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
About Us
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online as well as offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BWC has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Research Methodology
- 2.1. Qualitative Research
- 2.1.1. Primary & Secondary Research
- 2.2. Quantitative Research
- 2.3. Market Breakdown & Data Triangulation
- 2.3.1. Secondary Research
- 2.3.2. Primary Research
- 2.4. Breakdown of Primary Research Respondents, By Region
- 2.5. Assumption & Limitation
3. Executive Summary
4. Global IoT Security Market Insights
- 4.1. Industry Value Chain Analysis
- 4.2. DROC Analysis
- 4.2.1. Growth Drivers
- 4.2.2. Restraints
- 4.2.3. Opportunities
- 4.2.4. Challenges
- 4.3. Technological Landscape/Recent Development
- 4.4. Regulatory Framework
- 4.5. Porter's Five Forces Analysis
- 4.5.1. Bargaining Power of Suppliers
- 4.5.2. Bargaining Power of Buyers
- 4.5.3. Threat of New Entrants
- 4.5.4. Threat of Substitutes
- 4.5.5. Intensity of Rivalry
5. Global IoT Security Market Overview
- 5.1. Market Size & Forecast by Value, 2018-2028
- 5.1.1. By Value (USD Million)
- 5.2. Market Share & Forecast
- 5.2.1. By Component
- 5.2.1.1. Solutions
- 5.2.1.2. Services
- 5.2.2. By Type
- 5.2.2.1. Network Security
- 5.2.2.2. Endpoint Security
- 5.2.2.3. Application Security
- 5.2.2.4. Cloud Security
- 5.2.2.5. Other Security Type
- 5.2.3. By Deployment Mode
- 5.2.3.1. Cloud
- 5.2.3.2. On-premises
- 5.2.4. By Application Area
- 5.2.4.1. Smart Manufacturing
- 5.2.4.2. Smart Energy and Utilities
- 5.2.4.3. Connected Logistics
- 5.2.4.4. Smart Home and Consumer Electronics
- 5.2.4.5. Connected Healthcare
- 5.2.4.6. Smart Government and Defense
- 5.2.4.7. Smart Retail
- 5.2.4.8. Other Application Areas
- 5.2.5. By Organization Size
- 5.2.5.1. Large enterprises
- 5.2.5.2. Small and medium-sized enterprises (SMEs)
- 5.2.6. By Region
- 5.2.6.1. North America
- 5.2.6.2. Europe
- 5.2.6.3. The Asia Pacific
- 5.2.6.4. Latin America
- 5.2.6.5. The Middle East and Africa
- 5.2.1. By Component
6. North America IoT Security Market
- 6.1. Market Size & Forecast by Value, 2018-2028
- 6.1.1. By Value (USD Million)
- 6.2. Market Share & Forecast
- 6.2.1. By Component
- 6.2.2. By Type
- 6.2.3. By Deployment Mode
- 6.2.4. By Application area
- 6.2.5. By Organization Size
- 6.2.6. By Country
- 6.2.6.1. United States
- 6.2.6.2. Canada
7. Europe IoT Security Market
- 7.1. Market Size & Forecast by Value, 2018-2028
- 7.1.1. By Value (USD Million)
- 7.2. Market Share & Forecast
- 7.2.1. By Component
- 7.2.2. By Type
- 7.2.3. By Deployment Mode
- 7.2.4. By Application area
- 7.2.5. By Organization Size
- 7.2.6. By Country
- 7.2.6.1. Germany
- 7.2.6.2. United Kingdom
- 7.2.6.3. Italy
- 7.2.6.4. France
- 7.2.6.5. Spain
- 7.2.6.6. Rest of Europe
8. The Asia Pacific IoT Security Market
- 8.1. Market Size & Forecast by Value, 2018-2028
- 8.1.1. By Value (USD Million)
- 8.2. Market Share & Forecast
- 8.2.1. By Component
- 8.2.2. By Type
- 8.2.3. By Deployment Mode
- 8.2.4. By Application area
- 8.2.5. By Organization Size
- 8.2.6. By Country
- 8.2.6.1. China
- 8.2.6.2. India
- 8.2.6.3. Japan
- 8.2.6.4. South Korea
- 8.2.6.5. Rest of Asia Pacific
9. Latin America IoT Security Market
- 9.1. Market Size & Forecast by Value, 2018-2028
- 9.1.1. By Value (USD Million)
- 9.2. Market Share & Forecast
- 9.2.1. By Component
- 9.2.2. By Type
- 9.2.3. By Deployment Mode
- 9.2.4. By Application area
- 9.2.5. By Organization Size
- 9.2.6. By Country
- 9.2.6.1. Brazil
- 9.2.6.2. Mexico
- 9.2.6.3. Rest of Latin America
10. The Middle East & Africa IoT Security Market
- 10.1. Market Size & Forecast by Value, 2018-2028
- 10.1.1. By Value (USD Million)
- 10.2. Market Share & Forecast
- 10.3. By Component
- 10.4. By Type
- 10.5. By Deployment Mode
- 10.6. By Application area
- 10.7. By Organization Size
- 10.7.1. By Country
- 10.7.1.1. Saudi Arabia
- 10.7.1.2. UAE
- 10.7.1.3. South Africa
- 10.7.1.4. Rest of Middle East & Africa
- 10.7.1. By Country
11. Competitive Landscape
- 11.1. List of Key Players and Their Offerings
- 11.2. Market Share Analysis, 2021
- 11.3. Competitive Benchmarking, By Operating Parameters
- 11.4. Key Strategic Development (Merger, Acquisition, Partnership.)
12. Impact of Covid-19 on Global IoT Security Market Industry
13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
- 13.1. Google
- 13.2. Microsoft
- 13.3. IBM
- 13.4. AWS
- 13.5. Intel
- 13.6. Cisco
- 13.7. Ericsson
- 13.8. Thales
- 13.9. Allot
- 13.10. Infineon
- 13.11. Atos
- 13.12. Magiccube
- 13.13. Dragos Security
- 13.14. Claroty
- 13.15. Karamba Security
- 13.16. Vdoo (JFrog)
- 13.17. Forgerock
- 13.18. Entrust
- 13.19. Other prominent players
14. Key Strategic Recommendations
*Financial information in case of non-listed companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
List of Figures
- Figure 1 Global IoT Security Market Segmentation
- Figure 2 Global IoT Security Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2021
- Figure 4 Global IoT Security Market Size, By Value (USD Million), 2018-2028
- Figure 5 Global IoT Security Market Share, By Component, By Value, 2018-2028
- Figure 6 Global IoT Security Market Share, By Type, By Value, 2018-2028
- Figure 7 Global IoT Security Market Share, By Deployment Mode, By Value, 2018-2028
- Figure 8 Global IoT Security Market Share, By Application Area, By Value, 2018-2028
- Figure 9 Global IoT Security Market Share, By Organization Size, By Value, 2018-2028
- Figure 10 Global IoT Security Market Share, By Region, By Value, 2018-2028
- Figure 11 North America IoT Security Market Size, By Value (USD Million), 2018-2028
- Figure 12 North America IoT Security Market Share, By Component, By Value, 2018-2028
- Figure 13 North America IoT Security Market Share, By Type, By Value, 2018-2028
- Figure 14 North America IoT Security Market Share, By Deployment Mode, By Value, 2018-2028
- Figure 15 North America IoT Security Market Share, By Application Area, By Value, 2018-2028
- Figure 16 North America IoT Security Market Share, By Organization Size, By Value, 2018-2028
- Figure 17 North America IoT Security Market Share, By Country, By Value, 2018-2028
- Figure 18 Europe IoT Security Market Size, By Value (USD Million), 2018-2028
- Figure 19 Europe IoT Security Market Share, By Component, By Value, 2018-2028
- Figure 20 Europe IoT Security Market Share, By Type, By Value, 2018-2028
- Figure 21 Europe IoT Security Market Share, By Deployment Mode, By Value, 2018-2028
- Figure 22 Europe IoT Security Market Share, By Application Area, By Value, 2018-2028
- Figure 23 Europe IoT Security Market Share, By Organization Size, By Value, 2018-2028
- Figure 24 Europe IoT Security Market Share, By Country, By Value, 2018-2028
- Figure 25 The Asia-Pacific IoT Security Market Size, By Value (USD Million), 2018-2028
- Figure 26 The Asia-Pacific IoT Security Market Share, By Component, By Value, 2018-2028
- Figure 27 The Asia-Pacific IoT Security Market Share, By Type, By Value, 2018-2028
- Figure 28 The Asia-Pacific IoT Security Market Share, By Deployment Mode, By Value, 2018-2028
- Figure 29 The Asia-Pacific IoT Security Market Share, By Application Area, By Value, 2018-2028
- Figure 30 The Asia-Pacific IoT Security Market Share, By Organization Size, By Value, 2018-2028
- Figure 31 The Asia-Pacific IoT Security Market Share, By Country, By Value, 2018-2028
- Figure 32 Latin America IoT Security Market Size, By Value (USD Million), 2018-2028
- Figure 33 Latin America IoT Security Market Share, By Component, By Value, 2018-2028
- Figure 34 Latin America IoT Security Market Share, By Type, By Value, 2018-2028
- Figure 35 Latin America IoT Security Market Share, By Deployment Mode, By Value, 2018-2028
- Figure 36 Latin America IoT Security Market Share, By Application Area, By Value, 2018-2028
- Figure 37 Latin America IoT Security Market Share, By Organization Size, By Value, 2018-2028
- Figure 38 Latin America IoT Security Market Share, By Country, By Value, 2018-2028
- Figure 39 The Middle East & Africa IoT Security Market Size, By Value (USD Million), 2018-2028
- Figure 40 The Middle East & Africa IoT Security Market Share, By Component, By Value, 2018-2028
- Figure 41 The Middle East & Africa IoT Security Market Share, By Type, By Value, 2018-2028
- Figure 42 The Middle East & Africa IoT Security Market Share, By Deployment Mode, By Value, 2018-2028
- Figure 43 The Middle East & Africa IoT Security Market Share, By Application Area, By Value, 2018-2028
- Figure 44 The Middle East & Africa IoT Security Market Share, By Organization Size, By Value, 2018-2028
- Figure 45 The Middle East & Africa IoT Security Market Share, By Country, By Value, 2018-2028
List of Tables
- Table 1 Global IoT Security Market Size, By Component, By Value, 2018-2028
- Table 2 Global IoT Security Market Size, By Type, By Value, 2018-2028
- Table 3 Global IoT Security Market Size, By Deployment Mode, By Value, 2018-2028
- Table 4 Global IoT Security Market Size, By Application Area, By Value, 2018-2028
- Table 5 Global IoT Security Market Size, By Organization Size, By Value, 2018-2028
- Table 6 Global IoT Security Market Size, By Region, By Value, 2018-2028
- Table 7 North America IoT Security Market Size, By Component, By Value, 2018-2028
- Table 8 North America IoT Security Market Size, By Type, By Value, 2018-2028
- Table 9 North America IoT Security Market Size, By Deployment Mode, By Value, 2018-2028
- Table 10 North America IoT Security Market Size, By Application Area, By Value, 2018-2028
- Table 11 North America IoT Security Market Size, By Organization Size, By Value, 2018-2028
- Table 12 North America IoT Security Market Size, By Country, By Value, 2018-2028
- Table 13 Europe IoT Security Market Size, By Component, By Value, 2018-2028
- Table 14 Europe IoT Security Market Size, By Type, By Value, 2018-2028
- Table 15 Europe IoT Security Market Size, By Deployment Mode, By Value, 2018-2028
- Table 16 Europe IoT Security Market Size, By Application Area, By Value, 2018-2028
- Table 17 Europe IoT Security Market Size, By Organization Size, By Value, 2018-2028
- Table 18 Europe IoT Security Market Size, By Country, By Value, 2018-2028
- Table 19 The Asia-Pacific IoT Security Market Size, By Component, By Value, 2018-2028
- Table 20 The Asia-Pacific IoT Security Market Size, By Type, By Value, 2018-2028
- Table 21 The Asia-Pacific IoT Security Market Size, By Deployment Mode, By Value, 2018-2028
- Table 22 The Asia-Pacific IoT Security Market Size, By Application Area, By Value, 2018-2028
- Table 23 The Asia-Pacific IoT Security Market Size, By Organization Size, By Value, 2018-2028
- Table 24 The Asia-Pacific IoT Security Market Size, By Country, By Value, 2018-2028
- Table 25 Latin America IoT Security Market Size, By Component, By Value, 2018-2028
- Table 26 Latin America IoT Security Market Size, By Type, By Value, 2018-2028
- Table 27 Latin America IoT Security Market Size, By Deployment Mode, By Value, 2018-2028
- Table 28 Latin America IoT Security Market Size, By Application Area, By Value, 2018-2028
- Table 29 Latin America IoT Security Market Size, By Organization Size, By Value, 2018-2028
- Table 30 Latin America IoT Security Market Size, By Country, By Value, 2018-2028
- Table 31 The Middle East & Africa IoT Security Market Size, By Component, By Value, 2018-2028
- Table 32 The Middle East & Africa IoT Security Market Size, By Type, By Value, 2018-2028
- Table 33 The Middle East & Africa IoT Security Market Size, By Deployment Mode, By Value, 2018-2028
- Table 34 The Middle East & Africa IoT Security Market Size, By Application Area, By Value, 2018-2028
- Table 35 The Middle East & Africa IoT Security Market Size, By Organization Size, By Value, 2018-2028
- Table 36 The Middle East & Africa IoT Security Market Size, By Country, By Value, 2018-2028
- Table 37 Google Company Overview
- Table 38 Google Financial Overview
- Table 39 Microsoft Company Overview
- Table 40 Microsoft Financial Overview
- Table 41 AWS Company Overview
- Table 42 AWS Financial Overview
- Table 43 Intel Company Overview
- Table 44 Intel Financial Overview
- Table 45 Ericsson Company Overview
- Table 46 Ericsson Financial Overview
- Table 47 Allot Company Overview
- Table 48 Allot Financial Overview
- Table 49 Infineon Company Overview
- Table 50 Infineon Financial Overview
- Table 51 Atos Company Overview
- Table 52 Atos Financial Overview
- Table 53 Magiccube Company Overview
- Table 54 Magiccube Financial Overview
- Table 55 Dragos Security Company Overview
- Table 56 Dragos Security Financial Overview
- Table 57 Claroty Company Overview
- Table 58 Claroty Financial Overview
- Table 59 Karamba Security Company Overview
- Table 60 Karamba Security Financial Overview
- Table 61 Vdoo (JFrog) Company Overview
- Table 62 Vdoo (JFrog) Financial Overview
- Table 63 Forgerock Company Overview
- Table 64 Forgerock Financial Overview
- Table 65 Entrust Company Overview
- Table 66 Entrust Financial Overview
