IoT Security Market Size Soaring at 31.20% CAGR to Register $73,918.82 million by 2026

The global market for IoT security is projected to garner $73,918.82 million by 2026, growing at a CAGR of 31.20% from 2019 to 2026, divulges a new report added by Big Market Research.

Portland, OR, March 12, 2020 (GLOBE NEWSWIRE) -- This report provides an in-depth analysis of the Global IoT Security Market along with the current trends and future forecasts to explain the upcoming investment pockets. The report provides an overview of market definition, important discoveries, top market players, top-winning strategies, and scope in the industry. This report is a document providing solutions to various critical questions that are important for the industry shareholders including manufacturers and partners, and end users. Apart from this, the report helps in planning investments and capitalizing on market opportunities. Moreover, the report offers helpful study material for shareholders, investors, top market players, and new players to gain insights on current scenarios and form strategies to be implemented for obtaining a top position in the global market.

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The report describes the factors that drive and restrict the growth of the market. According to the report, the rise in the number of ransomware attacks on numerous IoT devices and increase in number of IoT security protocols in the emerging countries are major factors fueling the growth of the market. Furthermore, increase in malware and phishing threats amongst several business is acting as major contributors for the market growth. However, the huge cost of IoT security system are acting as a major barrier for the growth of the market. Additionally, increase in need for IoT security solutions and implementation of IoT security solutions by numerous developing nations is anticipated to offer rewarding opportunities for the expansion of the market in coming future.

The report offers detailed segmentation of the global IoT security market. The report segments the market into product type, deployment model, component, organization size, security type, industry vertical, and region. By component, the report bifurcates the market into solution and service. By deployment model, the report classifies the market into on-premise and cloud. Based on organization size, the report divides the market into large enterprises and small- and medium-sized enterprises (SMEs). Based on product type, the report classifies the market into device authentication & management, intrusion detection system & intrusion prevention system, identity access & management, data encryption & tokenization, and others. Based on security type, the report bifurcates the market into endpoint security, network security, application security, cloud security and others. By industry vertical, the report classifies the market into manufacturing, government & defense, retail & e-commerce, transportation & logistics, healthcare, energy & utilities, and others. By region, the report analyses the market across North America, Asia-Pacific, Europe, and LAMEA.

The report lists top market players that are active in the global IoT security industry. An outline of each market player is provided, and recent developments are highlighted in the report. These market players include BM Corporation, Infineon Technologies AG, Intel Corporation, Cisco Systems Inc., Broadcom, Gemalto NV, SecuriThings, Fortinet Inc., Palo Alto Networks Inc., and Trend Micro Incorporated, and others.

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This report is a document presenting answers to several questions that are important for the industry shareholders such as end users, manufacturers, investors, and stakeholders. Moreover, we endeavor to offer tailored report to fulfill the special requirements of our customers, on demand.

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