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IoT Security Market Growing at a CAGR of 34.4% During 2017 to 2022 - ReportsnReports

PUNE, India, June 19, 2017 /PRNewswire/ --

IoT security market report covers analysis of top 12 IoT security companies market Overview on the basis of Industry Trends, Type, Solutions, Service, Application Area, and Region, Overall Market size is expected to grow from $6.62 billion to $29.02 billion, at a CAGR of 34.4% from 2017 to 2022.

Browse 71 tables and 61 figures, 12 Company profiles spread across 161 pages available at:

http://www.reportsnreports.com/reports/409771-internet-of-things-iot-security-market-by-technologies-network-cloud-and-application-security-identity-access-management-analytics-utm-ids-ips-device-management-encryption-industry-verticals-and-applications-global-forecast-to-2020.html .

IoT security market is expected to reach $29.02 billion by 2022, owing to the increasing need for security over IoT networks 

The IoT security market size is expected to grow from $6.62 billion in 2017 to $29.02 billion by 2022, at a CAGR of 34.4% from 2017 to 2022.The growing instances of ransom is attacks on IoT networks, mandates the critical need for reliable IoT security solutions. IoT security is gaining importance due to increasing IoT deployments and thereby growing vulnerability of the network and devices to various cyber-attacks such as ransom are attacks. Today IoT has managed to be an integral part of day to day life and hence security aspect associated with it is important. Organizations with IoT deployments are implementing optimum security mechanisms to ensure confidentiality of the data. Today IoT security is important not only for data security of enterprises but also for crucial entities such as human lives and national intelligence.

The IoT security ecosystem comprises major vendors, such as PTC, Inc. (US), Symantec Corporation (US), Verizon Enterprise Solutions (US), Trust wave (US), Check Point Security Software Technologies Ltd. (US), Cisco Systems, Inc. (US), IBM Corporation (US), Infineon Technologies (Germany), Gemal to NV (Netherlands), AT&T, Inc. (US), Trend Micro, Inc. (Japan), Digi Cert (US).

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Integration services among the professional services segment is expected to gain maximum traction during the forecast period 

Installation and integration services play major role in ensuring security of the IoT network which comprises of numerous IoT devices, sensors and actuators by implementing security measures to system. Integration service providers help commercial clients implement a secure network across the deployed IoT system by integrating and ensuring that IoT security solutions are in line with the business processes.

Network security is estimated to have the largest market size in IoT security market during the forecast period 

Network security is crucial when it comes to the security of whole IoT deployment. Network security comprises of wireless communication & remote access security, and gateway. For secure communications over wireless devices, various secure protocols such as LPWAN, Zig-bee, 6LowPAN, Bluetooth, Z-Wave, and NFC are used. Also, Gateway anti-virus and anti-spyware are used to ensures security of IoT/M2M gateway, intrusions, viruses, spyware, worms, trojans, adware, keyloggers, malicious mobile code (MMC) by using techniques such as ACLs, IDS/IPS, and filtering. Security over wireless network is crucial in IoT systems as it carries voluminous and important data over network and is vulnerable for malicious attacks.

North America is estimated to have the largest market size and Asia Pacific (APAC)is projected to grow at the highest rate during the forecast period 

The North American region has witnessed the significant adoption of IoT security services mainly in US and Canada. Enterprises have shown significant interest in deploying IoT technologies in their processes, which helps drive the growth of IoT security market in the region. In 2015, US government invested USD 160 million in smart city initiatives to leverage on big data and analytics to reduce traffic congestion, fight crime, spur economic growth, manage climate change and improve delivery of local services. Also, in 2016,the Department of Homeland Security (DHS) issued a set of principles for securing IoT networks which highlight approaches of IoT security to make responsible and risk-based security decisions. The US government is helping private sector to implement IoT in various businesses, this is evident by the fact that the government of US and ITIF has started working to provide assistance for IoT related issues.

Order a copy of Internet of Things (IoT) Security Market by Type (Network, Endpoint, Application and Cloud Security), Solution (Identity Access Management, Device Authentication and Management, Security Analytics, and IDS/IPS), Service, Application Area, and Region - Global Forecast to 2022 Research Report at: http://www.reportsnreports.com/purchase.aspx?name=409771 .

The APAC region is expected to showcase significant growth and is expected to be the fastest-growing region in IoT security market. Countries in the region are coming up with favorable norms for implementing IoT in various fields. Japan has managed to maintain leading position in the region in robotics and IoT technologies in production. Growing requirements for quick computing, virtualized environment, analytics, cyber security and complex networking are among other factor driving market for IoT security in the region.

In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people.

The break-up of profile of primary participants is as follows: By Company: Tier 1 - 30 %, Tier 2 - 40%, and Tier 3 - 30%, By Designation: C level - 72%, Director level - 14%, and Others - 14% and By Region: North America - 57%, Europe - 14%, and APAC - 29%

Related Reports: 

Cyber Security Market by Solutions (IAM, Encryption, DLP, UTM, Antivirus/Antimalware, Firewall, IDS/IPS, Disaster Recovery), Services, Security Type, Deployment Mode, Organization Size, Vertical & Region - Global Forecast to 2021 .

Internet of Things Technology Market by Hardware (Processor, Sensor, Connectivity Technology), Platform (Device Management Platform, Application Management Platform, Network Management Platform) Software Solutions, and Services, Application, and Geography - Forecast to 2022 .

Industrial IoT Market by Device & Technology (Sensors, RFID, Industrial Robotics, DCS, Condition Monitoring, Smart Meters, AHS, Camera System, Networking Technologies), Software (PLM Systems, MES, SCADA), Vertical, and Geography - Global Forecast to 2022 .

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