IoT Security Market Extrapolated to Reach $40.3 Billion by 2026

IoT Security Market size to grow from $14.9 billion in 2021 to $40.3 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 22.1%.

Northbrook, IL 60062 — (SBWIRE) — 03/22/2022 — According to a new market research report “IoT Security Market by Type (Network Security, Endpoint Security, Application Security, and Cloud Security), Component (Solutions & Services), Application Area, Deployment Mode (On-premises & Cloud), Organization Size, and Region – Global Forecast to 2026″ published by MarketsandMarkets™, the IoT Security Market size to grow from USD 14.9 billion in 2021 to USD 40.3 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 22.1% during the forecast period. Rapid increase in the number of Industry 4.0 IoT security incidents stressing the need to strengthen cyber resilience worldwide is expected to drive the overall growth of the IoT Secruity market across the globe.

Browse in-depth TOC on “IoT Security Market”
350- Tables
55- Figures
316- Pages

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=67064836

Cloud Deployment is expected to have a higher growth rate during the forecast period

By Deployment Mode, cloud is expected to have a higher growth rate. Organizations can avoid costs related to hardware, software, storage, and technical staff by using cloud-based IoT security solutions. Cloud-based platforms offer a unified way in the form of SaaS-based security services to secure business applications. These platforms are beneficial for organizations that have strict budgets for security investments. SMEs deploy their solutions in the cloud as it enables them to focus on their core competencies rather than investing their capital in security infrastructures. The cloud deployment mode is growing as cloud IoT security solutions are easy to maintain and upgrade.

By Application Areas, the Smart Manufacturing segment is expected to hold a larger market size during the forecast period

By Application Area, Smart Manufacturing is expected to hold a larger market size. Manufacturing companies have been integrally focusing on enhancing the efficiency of their business processes and production output with optimum resource utilization. Smart manufacturing delivers four major advantages to enterprises: faster time to market, the lower total cost of ownership, improved asset utilization, and enterprise risk management. Security is one of the most important factors when it comes to the deployment of IoT into manufacturing processes. In most manufacturing operations, IoT sensors measure variables, such as speed, pressure, consumption and temperature, and actuators. These variables control physical systems that include brakes, valves, lights, power circuits, and automated drug dispensers. All these systems affect the physical world, control critical infrastructures, and gather sensitive information about different operations and smart equipment. Hence, there is a need for IoT security and privacy protection in enterprises.

Asia Pacific (APAC) region to record the highest growing region in the IoT Security market

APAC comprises major economies, such as Singapore, Japan, China, India, and Australia, which offer significant growth opportunities for IoT security vendors. The region is expected to grow at the highest CAGR during the forecast period. The increasing government initiatives; growing requirements for quick computing, virtualized environments, analytics, security, digitalization, and high-volume networking; and rising overall internet speed and responsiveness are the major factors driving the IoT security market growth in this region.

Speak to Research Expert @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=67064836

Key and innovative vendors in the Road Safety market are , Microsoft (US), AWS (US), Google (US), IBM (US), Intel (US), Cisco (US), Ericsson (Sweden), Thales (France), Allot (Israel), Infineon (Germany), Atos (France), Magiccube (US), Dragos (US), Claroty (US), Karamba Security (Israel), VDOO (Israel), ForgeRock (US), ORDR (US), NewSky (US), Armis (US), Mobileum (US), Trend Micro (Japan), Sophos (UK), CheckPoint (US), Fortinet (US), Happiest Minds (India), Mocana (US), Palo Alto (US), Kaspersky (Russia), Entrust (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: sales@marketsandmarkets.com
MnM Blog: https://mnmblog.org
Content Source: https://www.marketsandmarkets.com/PressReleases/iot-security.asp

For more information on this press release visit: http://www.sbwire.com/press-releases/iot-security-market-extrapolated-to-reach-403-billion-by-2026-1354984.htm

Media Relations Contact

Amish Keswani
Telephone: 1-888-600-6441
Email: Click to Email Amish Keswani
Web: https://www.marketsandmarkets.com/Market-Reports/iot-security-market-67064836.html