Rising Security Issues Propelling The Global Internet Of Things (Iot) Security Market

The Internet of Things (IoT) security market is expected to witness impressive growth over the forecast period. IoT security is the major concern in enterprises that require safeguarding all the inter-connected networks in the IoT platform. Identity access management (IAM) solution is one of the IoT security solutions. The IAM solution facilitates the management of digital or electronic identities across various business processes. It is composed of organizational policies for the management of digital identity that is required for IAM. Within these policies, every user is authorized, authenticated, and evaluated. The use of the IAM platform improves the speed and success of IT deployment. Therefore, enhances the business continuity and security, and facilitates the organizations to become more alert and responsive to the abrupt changes that may otherwise pose threats to organizational security.

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Additionally, an increase in the utility of cloud-based platforms for software development across several applications is again supporting the use of the IAM solution. The cloud IAM facilitates businesses to access online resources securely by providing protection to the digital interactions of customers, employees, and partners. Furthermore, a significant number of small, medium and large enterprises are using software-as-a-service models to enhance their safety and security. The cloud IAM enables enterprises to maintain multi-factor authentication effectively and efficiently by allowing the provision and de-provision of users. The growing deployment of security solutions including IAM, device authentication management, and security analytics solutions among others for securing data related to IoT devices is driving the growth of the global IoT security market.

Recent Activity

• In October 2018, IBM has acquired Red Hat, an IT solution provider company. This acquisition is done to address the demand of clients for hybrid multi-cloud adoption to drive greater portability and security of data and applications across multiple public and private clouds along with consistent cloud management.

Current market trends covered in the market report

• Companies enhancing their security controls and security tools, for dealing with the cyber threat
• Significant adoption of cloud services across the globe 
• Partnerships and collaborations – key drivers of competition in this market
• Shifting of the service-centric population to server-centric population
• Asia-Pacific to show lucrative growth during the forecast year
• North America held the major share in cloud infrastructure service market

Internet of Things (IoT) Security Market Segmentation

By Type

• Network Security

• Application Security

• Cloud Security

• Others (Endpoint Security)

By Solution

• Identity Access Management

• Device Authentication and Management

• Security Analytics

• Others (Data Encryption and Tokenization, Secure Communication)

By Application

• Manufacturing

• Transportation & Logistics

• Retails and Consumer Goods

• Healthcare and Life Sciences

• Others (Energy and Utilities, and Defense)  

Internet of Things (IoT) Security Market – Segment by Region 

North America           

• US

• Canada

Europe

• Germany

• UK

• France

• Spain

• Italy

• Rest of Europe

Asia-Pacific    

• China

• Japan

• India

• Rest of Asia-Pacific

Rest of the World

• Latin America

• The Middle East and Africa