New York, According to a new market research report published by Global Insight Services “IoT Security Market” is expected to grow by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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IoT Security technology helps protect internet-connected devices and the data they collect. It does this by providing a secure connection between devices and the internet, and by ensuring that only authorized devices and users can access data. IoT Security technology can also help detect and prevent attacks on devices and data, and can provide a way to remotely disable or delete data if a device is lost or stolen.
Key Trends and Drivers
IoT security is a rapidly evolving market with new technologies and trends constantly emerging. Here are some of the key trends in IoT security:
- Increased focus on security at the device level: With the number of IoT devices increasing exponentially, there is a need for greater security at the device level. This includes both hardware and software security measures.
- Improved data security: As more and more data is collected and transmitted via IoT devices, security concerns are growing. There is a need for better data security measures, such as encryption and data anonymization.
- Improved authentication and authorization: Another key trend in IoT security is the need for improved authentication and authorization. This includes both user authentication (such as biometrics) and device authentication.
- Greater need for security analytics: With the sheer volume of data generated by IoT devices, security analytics is becoming increasingly important. This helps organizations to identify and respond to threats in real-time.
- Increased use of blockchain: Blockchain is being increasingly used for IoT security, due to its tamper-proof and distributed nature. This trend is likely to continue as more organizations explore the potential of blockchain for IoT security.
Restraints & Challenges
The lack of standards is a major challenge for the IoT security market. There are a number of standards bodies, such as the IETF, IEEE, and the W3C, but there is no clear consensus on which standards to adopt. This lack of standards makes it difficult for vendors to interoperate and makes it difficult for customers to compare products.
The IoT security market is also fragmented, with a large number of vendors offering a wide range of products and services. This fragmentation makes it difficult for customers to find the right solution for their needs.
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Market Segments
By Component
- Solutions
- Services
By Security Type
- Network Security
- Endpoint Security
- Application Security
- Cloud Security
- Others
Key Players
- Allot Ltd.
- Armis Inc.
- CENTRI Technology
- Cisco Systems Inc.
- ForgeRock Inc.
- Fortinet Inc.
- Gemalto NV
- IBM Corporation
- Infineon Technologies AG
- Intel Corporation
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Reasons to buy IoT Security Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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