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.
Contact
Mr. Ken Mathews
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