Internet of Things (IOT) security market is expected to witness impressive growth over the forecast period. Major factors that are driving the market are increasing ransomware attacks on IoT systems, increasing need for securing the ubiquitous environment, and surging need for data-centric security across various industry verticals. IoT security is one of the major concerns in enterprises that require safeguarding connected devices and all the inter-connected networks in the IoT. Much of the increase in IoT communication comes from computing devices and embedded sensor systems used in industrial machine-to-machine (M2M) communication, home and building automation, smart energy grids, vehicle-to-vehicle communication, and wearable computing devices. With the evolution of IoT, physical objects can be connected with each other that has enhanced the consumer’s experience. With the increasing number of consumer devices, a threat to the functioning of the Internet has increased dramatically.

North America is expected to dominate the global IoT security market over the forecast period owing to the early adoption of IoT security technologies in various applications in a number of industry verticals such as healthcare and retail. Moreover, higher investment capabilities of organizations in premium IoT security solutions are further augmenting the market growth of the region. Furthermore, ample opportunities for new entrants in the region are being promised by growing venture capitalists in the market. For instance, in April 2018, Armis, a US-based IoT security provider start-up raised $30 million in Series B funding. However, Asia-Pacific region is expected to be the fastest growing region over the forecast period. This is mainly due to developing and scaling IoT-based initiatives, such as smart cities and smart grids, in major economies of the region including India, China, and Australia. These actions will generate a significant amount of data, which will enforce governments to build robust data protection policies for ownership of data.

Furthermore, the market consists of several market players that are significantly providing IoT security solutions and services to cater to a wide range of customers across the globe. Key players of the market are IBM Corp., Intel Corp., Oracle Corp., Cisco Systems, Inc., PTC Inc., and ConnectWise, Inc. In order to remain competitive in the market, these market players adopt various strategies such as mergers and acquisitions, product offering expansion, geographical expansion, partnerships and collaborations, and others. For instance, in December 2018, ConnectWise has completed the acquisition of Sienna Group, a data-security firm.

Research Methodology of IoT Security Market:

The market study of the global Internet of Things (IoT) security market is incorporated by extensive primary and secondary research conducted by a research team at OMR. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macroeconomic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.

Secondary Sources Include

• Financial reports of companies involved in the market
• Authentic Public Databases such as the US Department of Commerce, International Trade Administration, and others
• Whitepapers, research-papers and news blogs
• Company websites and their product catalog

The report is intended for system integrators, software vendors, IoT platform/middleware providers, third-party integration providers, investment companies, government organizations for overall market analysis and competitive analysis. The report will serve as a source for 360-degree analysis of the market thoroughly integrating insights into the market for better business decisions.

Market Segmentation:

• Global IoT security Market Research and Analysis by Type
• Global IoT security Market Research and Analysis by Solution
• Global IoT security Market Research and Analysis by Application

The Report Covers

• Comprehensive research methodology of the global Internet of Things security market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global IoT security market.
• Insights about market determinants which are stimulating the global IoT security market.
• Detailed and extensive market segments with regional distribution of forecast revenues.
• Extensive profiles and recent developments of market players.