New York, US, May 29, 2023 (GLOBE NEWSWIRE) -- According to the research report published by Market Research Future (MRFR), M2M Security Market Research Report Information by Type, Region, and Application - Forecast Till 2032, the global M2M security market is predicted to bolter substantially during the review era from 2023 to 2032 at a substantial growth rate of around 5.24%. The reports further predict the market will acquire nearly USD 43.11 billion by the end of 2032.
Market Scope:
M2M security refers to a technology preventing unauthorized access to connected machines, systems, and endpoints that exchange data over wireless networks and the internet. The technology secures data transmissions between the cloud and networked machines, prevents hackers from unauthorized access to machines, and corrupts proof data communication. M2M security incorporates services, software, and hardware associated with the security of devices, cloud, and machine-to-machine networks for various industries such as automotive, consumer electronics, transportation, industrial energy & utilities, and healthcare. The global M2M security industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the growing need for machine-to-machine communication across the globe as it is founding secure connections to protect data transmission from cyber threats. Furthermore, the escalating demand for secure data exchange in industrial and consumer applications given to remote monitoring needs is also considered to be one of the crucial parameters supporting the development of the global market.
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Competitive Analysis:
The listing of the prominent leaders across the global market for M2M security includes players such as:
- Wipro Ltd.
- Symantec Corporation
- ATOS SE
- Cisco Systems, Inc.
- At&t Inc.
- Intel Corporation
- Gemalto NV
- Philips
- Zscaler, Inc.
- Huawei Technologies Co., Ltd.
- Sequans Communications
Scope of the Report - M2M Security Market:
| Report Metrics | Details |
| Market Size by 2032 | USD 43.11 billion |
| CAGR during 2023-2032 | 5.24% |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Based on Components, Based on Applications, Based on Regions |
Market USP Covered:
Market Drivers:
The global M2M security industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the growing need for machine-to-machine communication across the globe as it is founding secure connections to protect data transmission from cyber threats. Furthermore, the escalating demand for secure data exchange in industrial and consumer applications given to remote monitoring needs is also considered to be one of the crucial parameters supporting the development of the global market. Moreover, factors such as growing demand for secure communication, rising cases of cyber-attacks & data thefts, availability of cloud-based security solutions, and product innovations & technological advancements are also projected to influence the market's performance over the coming years positively.
Market Restraints:
On the contrary, some parameters may restrict the market's development. The main parameter limiting the market's development is the high costs associated. Furthermore, thperiods of standardization is also projected to have a negative impact on the performance of the market over the assessment period.
COVID-19 Impact:
The COVID-19 pandemic has had a massive impact on several industry areas worldwide. The M2M security market is no different than others. The market experienced a tremendous setback during the pandemic, given the halt of several industrial operations and manufacturing activities. However, with the world recovering from the impact caused by the global health hazard, the market is anticipated to grow considerably over the coming years.
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Segment Analysis:
Among all the components, the hardware segment secured the leading position across the global market for M2M security in the year 2020. The growing requirement for security hardware is the main parameter supporting the segment's rapid growth. On the contrary, the software & service segment is projected to showcase the maximum growth rate over the assessment period. The main parameter supporting the segment's rapid growth is the escalating demand for secure data and communication networks.
Among all the application areas, the healthcare segment is predicted to ensure the leading position across the global market for M2M security over the assessment period. The requirement for secure communication systems in healthcare organizations is increasing globally, which in turn is considered the main parameter causing a surge in the segment's performance.
Regional Analysis:
The global market for M2M security is studied across five major parts: Asia-Pacific, Europe, North America, Latin America, and Middle & Africa.
The research reports by MRFR suggest that the North American region held the top position across the global M2M security industry in 2020. The main parameter supporting the rapid growth of the M2M market across the region is the presence of leading businesses engaged in developing secure machine-to-machine networks across the region. Furthermore, major players in the U.S. and government initiatives to encourage the use of M2M technologies in various end-use sectors are also projected to enhance the performance of the regional market for M2M security across the region over the assessment period. The U.S. is considered to be the leading growth contributor across the region.
The Asia-Pacific regional market for M2M security is projected to showcase the maximum growth rate over the coming years. The region has Japan as the leading growth contributor. The rising adoption of IoT in the region is considered to be the primary parameter supporting the development of the regional market.
Related Reports:
- M2M Communication Market- M2M Communication Market is predicted to reach USD 27.41 Billion by 2030, registering a 8,32% CAGR during the forecast period, 2020–2030.
- Machine-to-Machine (M2M) Connections Market- Machine-to-Machine (M2M) Connections will exhibit a CAGR of 5.40% in the forecast period of 2022-2030 and is expected to reach USD 54.2 billion by 2030
- Cellular M2M Market- The cellular M2M market size is projected to grow at a USD 5.5386 Billion with a Compound Annual Growth Rate (CAGR) of 6.12% during the forecast period [2022-2030].
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