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Global IoT Security Market Size, Share, Growth & Trends Analysis Report By Component, Deployment, Type, and Technology, and End User: Global Opportunity Analysis and Industry Forecast, 2028
Published Date: July 2021
|
Report Code: QYRE-Auto-33L5781
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Global IoT Security Market Size Status and Forecast 2021 2027
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Global IoT Security Market Size, Share, Growth & Trends Analysis Report By Component, Deployment, Type, and Technology, and End User: Global Opportunity Analysis and Industry Forecast, 2028

Code: QYRE-Auto-33L5781
Report
July 2021
113 Pages
QYResearch
Region: Global
DESCRIPTION
TABLE OF CONTENT
TABLES & FIGURES

IoT Security Market Outlook - 2027

The global Internet of Things (IoT) Security market size is projected to reach US$ 7722.1 million by 2028, from US$ 2087.8 million in 2021, at a CAGR of 20.3% during 2022-2028.

IoT Security Market

Key drivers of the IoT security market include the growing complexity of smart manufacturing systems. As IoT sensors and devices transition into every industry vertical, the need for efficient security solutions is a must. Retailers are heavily dependent on IoT platforms for enhancing customer experience. This makes it all the more feasible for the deployment of security networks. This will augment the growth of the IoT security market.  

The IoT security market trends will be positively impacted by its use in the healthcare industry as concerns relating to the privacy of online storage of patient data will keep increasing.  The energy sector is rife with significant cyber threats and illegal intrusion by hackers. This will drive the growth prospects of the market in the coming years. As smart building systems arise the need for robust security solutions in IoT connection is imminent. This will drive the expansion of the market in the forthcoming years. The transportation industry will spur the growth of the IoT security market in the upcoming years.

Trends Influencing IoT Security Market

Mitigating risks in Industrial IoT

The growing shift towards industry 4.0 and rising automation in manufacturing systems pose significant security challenges. A smart factory IoT system is complex with many security loopholes. The issues range from device hijacking where a connected device may appear to work fine but is in fact controlled by hackers to infect other devices and gain control of the system. Distributed Denial of service attacks or DDoS attacks is the most common security risk as they block legitimate users from accessing the enterprise management systems. PDoS attacks are the ones carried out to damage the entire organizational workflow. Additionally, disgruntled employees or staff members may intentionally disrupt and break the communication network in an IoT infrastructure. In order to tackle these challenges IoT security software with endpoint encryption and cloud-based security is being deployed for real-time anomaly detection and alerting the authorities of any suspicious activity. These factors will boost the growth of the IoT security market during the forecast period. 

Retail sector

Retailers are using IoT-connected devices to study the patterns of consumer buying behaviors and their preferences. Targeted advertisement, digital signage, and smart mirrors are being implemented across the entire retail spectrum for better promotion, conversion, and increased sales. However, security remains a prime concern as most of these devices run on legacy operating systems with weak default passwords. Hackers can easily gain access to the device through advanced scanning tools and see the video camera footage or launch a botnet attack. Moreover, device visibility is an issue with no clear indications of which device is doing what in the entire network. This highly necessitates the demand for IoT security solutions that extract the relevant information and tie it up with the existing security policies. This in turn is expected to fuel the growth of the IoT security market in the forthcoming period. 

Healthcare industry

As important and sensitive patient data is stored, shared, and accessed easily through IoT-connected devices the need for robust security solutions is a must. Threat actors usually target the Electronic Health records of patients as they capture a huge black market value. They may also put malware or ransomware in the hospital system for disrupting operational efficiency. A detailed cybersecurity information system needs to be implemented at a granular level to protect a patient’s medical, insurance, and personal data theft. Proper vulnerability disclosure with detailed verification of the software updates, monitoring third-party components throughout the device’s entire product lifecycle, and threat intelligence modeling for maintaining the safety of the device’s performance and its operational stability. Such factors will drive the growth of the IoT security market in the subsequent years. 

Energy management

Energy companies come under extensive cybersecurity threats. The geographical diversity creates a distributed attack surface which is all the more challenging. Behavioral analytic tools are used for monitoring any suspicious deviation from the normal course of action. They give real-time security alerts to the concerned authorities beforehand thereby enhancing the protection of the extensive IoT infrastructure. AI and machine learning algorithms detect any abnormal anomalies in the user and device network activity patterns. Moreover, threat intelligence provides real-time detailed reports on the attacking part and provides necessary insights for decision-makers to take timely action. This in turn will spur the growth of the IoT security market in the future. 

Building automation

Residential homes and buildings are getting smart with IoT solutions. Energy consumption is reduced along with total ownership and operational costs. The entire lifecycle of utilities is increased with smart building management systems. The comfort of residences will grow further. HVAC systems, lighting control, video surveillance, access control, and elevator control are all connected with their attached sensors, thermostats, cameras, and lighting equipment. The range of security issues is huge such as expanded attack surfaces, and insecure and weak internet protocols with hackers gaining access to disrupt the controllers and other devices running on the premises of the buildings. These demand the need for enhanced visibility, situational awareness, and for mitigating the risks associated with the convergence of IoT technology. The above factors will drive the growth of the IoT security market in the upcoming period. 

Transportation sector

A ransomware attack can severely damage the operations of a container shipping company. As the access to control systems for operating terminals is blocked huge amount of money is lost due to business interruption, technical snags, equipment damage, and the effort in reinstalling all the necessary data back into the complex chain of servers, pcs, and controllers. The interconnected operational environment of the transportation and logistics industry is highly vulnerable to malware intrusion. Cyberattacks on these devices pose a huge threat to the safety of billions of passengers transiting through airports, metro systems, and the continuous flow of goods around the world. Behavioral-based anomaly detection identifies the red flags quicker in a connected system. Even if the hackers use proprietary transport control system protocols to send out messages the threat intelligence will detect the abnormal deviation instantly. They invoke new firewall rules to block communication and are able to respond to multiple cyber attacks through existing tools and workflows. This in turn will drive the expansion of the IoT security market in the upcoming period. 

IoT Security Market Size

IoT Security Market Size and Share

Based on type, the endpoint security segment will grow the highest in the IoT security market share as end-to-end security is necessary for organizations to protect their digital assets from vulnerabilities.

Based on application, the building and home automation segment will provide lucrative opportunities for growth in the IoT security market share due to the growing number of connected and smart buildings. There are rising concerns related to data privacy and cyberattacks. 

Based on region, North America will dominate in the IoT security market share due to growing awareness regarding IoT security solutions and early adoption of technology.  

IoT Security Market Segment

IoT Security market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global IoT Security market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2016-2027.

IoT Security Market Segment By Type

  • Network Security
  • Endpoint Security
  • Cloud Security
  • Application Security

IoT Security Market Segment By Application

  • Manufacturing
  • Retail
  • Healthcare
  • Energy Management
  • Building and Home Automation
  • Transportation
  • Others

By Region

  • North America
  • Europe
  • Japan
  • China
  • Southeast Asia
  • India

By Company

  • Cisco Systems
  • IBM
  • Infineon Technologies
  • Intel
  • Symantec
  • ARM
  • NXP Semiconductor
  • INSIDE Secure
  • Gemalto
  • Trend Micro

IoT security market Report Coverage

Report Metric

Details

Base Year:

2021

Market Size in 2021:

USD 2087.8 Million

Forecast Period:

2022 to 2028

Forecast Period 2022 to 2028 CAGR:

20.3%

2028 Value Projection:

USD 7722.1 Million

No. of Pages:

113

Tables & Figures

146

Segments covered:

Type, Application, Region, Company

Frequently Asked Questions About This Report

1. How big is the IoT security market?

Ans. The market size of IoT security market surpassed USD 7722.1 million by 2028 from USD 2087.8 Million by 2021 with a CAGR of 20.3%.

2. What will be the market value of IoT security market by the end of 2028?

Ans. The IoT security market is projected to reach USD 7722.1 million by 2028.

3. Who are the key players of IoT security market?

Ans. Cisco Systems, IBM, Infineon Technologies, Intel, Symantec, ARM, NXP Semiconductor, INSIDE Secure, Gemalto, Trend Micro are the key players of IoT security market.

4. What are the segments by type in IoT security?

Ans. Network Security, Endpoint Security, Cloud Security, Application Security are the types of of IoT security.

1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global IoT Security Market Size Growth Rate by Type (2021-2027)
1.2.2 Network Security
1.2.3 Endpoint Security
1.2.4 Cloud Security
1.2.5 Application Security
1.3 Market by Application
1.3.1 Global IoT Security Market Share by Application (2021-2027)
1.3.2 Manufacturing
1.3.3 Retail
1.3.4 Healthcare
1.3.5 Energy Management
1.3.6 Building and Home Automation
1.3.7 Transportation
1.3.8 Others
1.4 Study Objectives
1.5 Years Considered
2 Executive Summary
2.1 Global IoT Security Market Size
2.2 IoT Security Market Size by Regions
2.2.1 IoT Security Growth Rate by Regions (2021-2027)
2.2.2 IoT Security Market Share by Regions (2021-2027)
2.3 Industry Trends
2.3.1 Market Top Trends
2.3.2 Market Use Cases
3 Key Players
3.1 IoT Security Revenue by Players (2020-2021)
3.2 IoT Security Key Players Headquaters and Area Served
3.3 Key Players IoT Security Product/Solution/Service
3.4 Date of Enter into IoT Security Market
3.5 Mergers & Acquisitions, Expansion Plans
4 Breakdown by Type and by Application
4.1 Global IoT Security Market Size by Type (2021-2027)
4.2 Global IoT Security Market Size by Application (2021-2027)
5 North America
5.1 North America IoT Security Market Forecast (2021-2027)
5.2 IoT Security Key Players in North America
5.3 North America IoT Security Market Size by Type
5.4 North America IoT Security Market Size by Application
6.4.4 Canada
6 Europe
6.1 Europe IoT Security Market Forecast (2021-2027)
6.2 IoT Security Key Players in Europe
6.3 Europe IoT Security Market Size by Type
6.4 Europe IoT Security Market Size by Application
7 Japan
7.1 Japan IoT Security Market Forecast (2021-2027)
7.2 IoT Security Key Players in Europe
7.3 Japan IoT Security Market Size by Type
7.4 Japan IoT Security Market Size by Application
8 Rest of World
8.1 China
8.1.1 China IoT Security Market Analysis
8.1.2 Key Players in China
8.2 Southeast Asia
8.2.1 Southeast Asia IoT Security Market Analysis
8.2.2 Key Players in Southeast Asia
8.3 India
8.3.1 India IoT Security Market Analysis
8.3.2 Key Players in India
9 International Player Profiles
9.1 Cisco Systems
9.1.1 Cisco Systems Company Details
9.1.2 Cisco Systems Description and Business Overview
9.1.3 Cisco Systems IoT Security Introduction
9.1.4 Cisco Systems Revenue in IoT Security Business (2020-2021)
9.1.5 Cisco Systems Recent Development
9.2 IBM
9.2.1 IBM Company Details
9.2.2 IBM Description and Business Overview
9.2.3 IBM IoT Security Introduction
9.2.4 IBM Revenue in IoT Security Business (2020-2021)
9.2.5 IBM Recent Development
9.3 Infineon Technologies
9.3.1 Infineon Technologies Company Details
9.3.2 Infineon Technologies Description and Business Overview
9.3.3 Infineon Technologies IoT Security Introduction
9.3.4 Infineon Technologies Revenue in IoT Security Business (2020-2021)
9.3.5 Infineon Technologies Recent Development
9.4 Intel
9.4.1 Intel Company Details
9.4.2 Intel Description and Business Overview
9.4.3 Intel IoT Security Introduction
9.4.4 Intel Revenue in IoT Security Business (2020-2021)
9.4.5 Intel Recent Development
9.5 Symantec
9.5.1 Symantec Company Details
9.5.2 Symantec Description and Business Overview
9.5.3 Symantec IoT Security Introduction
9.5.4 Symantec Revenue in IoT Security Business (2020-2021)
9.5.5 Symantec Recent Development
9.6 ARM
9.6.1 ARM Company Details
9.6.2 ARM Description and Business Overview
9.6.3 ARM IoT Security Introduction
9.6.4 ARM Revenue in IoT Security Business (2020-2021)
9.6.5 ARM Recent Development
9.7 NXP Semiconductor
9.7.1 NXP Semiconductor Company Details
9.7.2 NXP Semiconductor Description and Business Overview
9.7.3 NXP Semiconductor IoT Security Introduction
9.7.4 NXP Semiconductor Revenue in IoT Security Business (2020-2021)
9.7.5 NXP Semiconductor Recent Development
9.8 INSIDE Secure
9.8.1 INSIDE Secure Company Details
9.8.2 INSIDE Secure Description and Business Overview
9.8.3 INSIDE Secure IoT Security Introduction
9.8.4 INSIDE Secure Revenue in IoT Security Business (2020-2021)
9.8.5 INSIDE Secure Recent Development
9.9 Gemalto
9.9.1 Gemalto Company Details
9.9.2 Gemalto Description and Business Overview
9.9.3 Gemalto IoT Security Introduction
9.9.4 Gemalto Revenue in IoT Security Business (2020-2021)
9.9.5 Gemalto Recent Development
9.10 Trend Micro
9.10.1 Trend Micro Company Details
9.10.2 Trend Micro Description and Business Overview
9.10.3 Trend Micro IoT Security Introduction
9.10.4 Trend Micro Revenue in IoT Security Business (2020-2021)
9.10.5 Trend Micro Recent Development
10 Market Dynamics
10.1 Industry Trends
10.2 Market Drives
10.3 Market Challenges
10.4 Market Restraints
11 Key Findings in This Report
12 Appendix
12.1 Research Methodology
12.1.1 Methodology/Research Approach
12.1.2 Data Source
12.2 Disclaimer
12.3 Author Details
List of Tables
    Table 1. Global IoT Security Market Size Growth Rate by Type (2021-2027) (US$ Million)
    Table 2. Key Players of Network Security
    Table 3. Key Players of Endpoint Security
    Table 4. Key Players of Cloud Security
    Table 5. Key Players of Application Security
    Table 6. Global IoT Security Market Size Growth by Application (2021-2027) (US$ Million)
    Table 7. Global IoT Security Market Size by Regions (2021-2027) (US$ Million)
    Table 8. Global IoT Security Market Share by Regions (2021-2027)
    Table 9. Market Top Trends
    Table 10. Market Use Cases
    Table 11. Global IoT Security Revenue by Players (2020-2021) (US$ Million)
    Table 12. Global IoT Security Market Share by Players (2020-2021)
    Table 13. Key Players Headquarters and Area Served
    Table 14. Key Players IoT Security Product Solution and Service
    Table 15. Date of Enter into IoT Security Market
    Table 16. Mergers & Acquisitions, Expansion Plans
    Table 17. Global IoT Security Market Size by Type (2021-2027) (US$ Million)
    Table 18. Global IoT Security Market Size Share by Type (2021-2027)
    Table 19. Global IoT Security Market Size by Application (2021-2027) (US$ Million)
    Table 20. Global IoT Security Market Size Share by Application (2021-2027)
    Table 21. North America Key Players IoT Security Revenue (2020-2021) (US$ Million)
    Table 22. North America Key Players IoT Security Market Share (2020-2021)
    Table 23. North America IoT Security Market Size by Type (2021-2027) (US$ Million)
    Table 24. North America IoT Security Market Share by Type (2021-2027)
    Table 25. North America IoT Security Market Size by Application (2021-2027) (US$ Million)
    Table 26. North America IoT Security Market Share by Application (2021-2027)
    Table 27. Europe Key Players IoT Security Revenue (2020-2021) (US$ Million)
    Table 28. Europe Key Players IoT Security Market Share (2020-2021)
    Table 29. Europe IoT Security Market Size by Type (2021-2027) (US$ Million)
    Table 30. Europe IoT Security Market Share by Type (2021-2027)
    Table 31. Europe IoT Security Market Size by Application (2021-2027) (US$ Million)
    Table 32. Europe IoT Security Market Share by Application (2021-2027)
    Table 33. Japan Key Players IoT Security Revenue (2020-2021) (US$ Million)
    Table 34. Japan Key Players IoT Security Market Share (2020-2021)
    Table 35. Japan IoT Security Market Size by Type (2021-2027) (US$ Million)
    Table 36. Japan IoT Security Market Share by Type (2021-2027)
    Table 37. Japan IoT Security Market Size by Application (2021-2027) (US$ Million)
    Table 38. Japan IoT Security Market Share by Application (2021-2027)
    Table 39. Key Players in China
    Table 40. Key Players in Southeast Asia
    Table 41. Key Players in India
    Table 42. Cisco Systems Company Details
    Table 43. Cisco Systems Description and Business Overview
    Table 44. Cisco Systems IoT Security Product
    Table 45. Cisco Systems Revenue in IoT Security Business 2020 and 2021
    Table 46. Cisco Systems Recent Development
    Table 47. IBM Company Details
    Table 48. IBM Description and Business Overview
    Table 49. IBM IoT Security Product
    Table 50. IBM Revenue in IoT Security Business 2020 and 2021
    Table 51. IBM Recent Development
    Table 52. Infineon Technologies Company Details
    Table 53. Infineon Technologies Description and Business Overview
    Table 54. Infineon Technologies IoT Security Product
    Table 55. Infineon Technologies Revenue in IoT Security Business 2020 and 2021
    Table 56. Infineon Technologies Recent Development
    Table 57. Intel Company Details
    Table 58. Intel Description and Business Overview
    Table 59. Intel IoT Security Product
    Table 60. Intel Revenue in IoT Security Business 2020 and 2021
    Table 61. Intel Recent Development
    Table 62. Symantec Company Details
    Table 63. Symantec Description and Business Overview
    Table 64. Symantec IoT Security Product
    Table 65. Symantec Revenue in IoT Security Business 2020 and 2021
    Table 66. Symantec Recent Development
    Table 67. ARM Company Details
    Table 68. ARM Description and Business Overview
    Table 69. ARM IoT Security Product
    Table 70. ARM Revenue in IoT Security Business 2020 and 2021
    Table 71. ARM Recent Development
    Table 72. NXP Semiconductor Company Details
    Table 73. NXP Semiconductor Description and Business Overview
    Table 74. NXP Semiconductor IoT Security Product
    Table 75. NXP Semiconductor Revenue in IoT Security Business 2020 and 2021
    Table 76. NXP Semiconductor Recent Development
    Table 77. INSIDE Secure Company Details
    Table 78. INSIDE Secure Description and Business Overview
    Table 79. INSIDE Secure IoT Security Product
    Table 80. INSIDE Secure Revenue in IoT Security Business 2020 and 2021
    Table 81. INSIDE Secure Recent Development
    Table 82. Gemalto Company Details
    Table 83. Gemalto Description and Business Overview
    Table 84. Gemalto IoT Security Product
    Table 85. Gemalto Revenue in IoT Security Business 2020 and 2021
    Table 86. Gemalto Recent Development
    Table 87. Trend Micro Company Details
    Table 88. Trend Micro Description and Business Overview
    Table 89. Trend Micro IoT Security Product
    Table 90. Trend Micro Revenue in IoT Security Business 2020 and 2021
    Table 91. Trend Micro Recent Development
    Table 92. IoT Security Market Trends
    Table 93. IoT Security Market Drivers
    Table 94. IoT Security Market Challenges
    Table 95. IoT Security Market Restraints
    Table 96. Research Programs/Design for This Report
    Table 97. Key Data Information from Secondary Sources
    Table 98. Key Data Information from Primary Sources
List of Figures
    Figure 1. Global IoT Security Market Share by Type in 2021 & 2027
    Figure 2. Network Security Features
    Figure 3. Endpoint Security Features
    Figure 4. Cloud Security Features
    Figure 5. Application Security Features
    Figure 6. Global IoT Security Market Share by Application in 2021 & 2027
    Figure 7. Manufacturing Case Studies
    Figure 8. Retail Case Studies
    Figure 9. Healthcare Case Studies
    Figure 10. Energy Management Case Studies
    Figure 11. Building and Home Automation Case Studies
    Figure 12. Transportation Case Studies
    Figure 13. Others Case Studies
    Figure 14. IoT Security Report Years Considered
    Figure 15. Global IoT Security Market Size and Growth Rate (2020-2027) (US$ Million)
    Figure 16. Global IoT Security Market Share by Regions (2020-2027)
    Figure 17. Global IoT Security Market Share by Players in 2021
    Figure 18. Global IoT Security Market Size Market Share by Type (2021-2027)
    Figure 19. Global IoT Security Market Size Market Share by Application (2021-2027)
    Figure 20. Global IoT Security Revenue Market Share by Application in 2021
    Figure 21. North America IoT Security Market Size 2021-2027 (US$ Million)
    Figure 22. Europe IoT Security Market Size 2021-2027 (US$ Million)
    Figure 23. Japan IoT Security Market Size 2021-2027 (US$ Million)
    Figure 24. IoT Security Market Size in China (2021-2027) (US$ Million)
    Figure 25. IoT Security Market Size in Southeast Asia (2021-2027) (US$ Million)
    Figure 26. IoT Security Market Size in India (2021-2027) (US$ Million)
    Figure 27. Bottom-up and Top-down Approaches for This Report
    Figure 28. Data Triangulation
    Figure 29. Key Executives Interviewed
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