According to estimates, the market for Internet of Things (IoT) security products will increase from USD 12 billion in 2017 to USD 48 billion by 2027, growing at a CAGR of 14.9% from 2017 to 2027. The market is projected to grow as manufacturers enter the scene and more IoT security products are released. The expansion of the industry is also being aided by the rising number of service providers.
The review period is expected to see the most growth in the smart grid segment. The market is probably going to grow as a result of the ongoing growth in smart grid applications.
Due to the growing adoption of IoT-enabled smart connected devices, the East Asia Region is expected to take the lead position in the IoT Security market.
Request Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-1264
Increasing collaborations and partnerships in the North America region fostering revenue growth of the IoT security product market
In order to offer cutting-edge technology and to cater to the rising demand for IoT among businesses, prominent players in the IoT space are focussing on entering into partnerships and collaborations with other players in the IoT market. Various connected devices manufacturers such as Cisco Systems Inc., telecommunication network solution providers such as AT&T Inc., and technology companies such as IBM Corporation are opting to offer smart solutions for advanced data analytics by utilising IoT platforms.
Future Market Insights forecasts revenue from the global IoT security product market to increase from US$ 12 Bn in 2017 to about US$ 48 Bn by 2027 end, representing a CAGR of 14.9% from 2017 to 2027. This increasing revenue growth is attributed to continuous launching of IoT security offerings and emergence of niche players in the market. Moreover, an increasing number of service providers is also supporting revenue growth of this market.
Market Attractiveness of IoT Security Products Worldwide, By Application, 2017–2027
During the forecast period, the smart grid sector is anticipated to be the most alluring in terms of value in the global IoT security product market. The home and building automation segment, however, is anticipated to have rapid year-over-year expansion during the forecast period.
The home and building automation market is anticipated to grow at a CAGR of 16.2% over the course of the forecast period. The smart grid market, which had a 2016 market value of US$ 3,697.8 Mn, is anticipated to have consistent revenue growth over the course of the projected year.
Get Flat 30% Off on Report Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-1264
Who are the major companies leading Internet of Things (IoT) Security Product market?
Prominent companies in the Internet of Things (IoT) Security Product market includes
- International Business Machines Corporation,
- Cisco Systems, Inc.,
- Intel Corporation,
- Check Point Software Technologies,
- Trend Micro Inc.,
- Infineon Technologies AG,
- Symantec Technology Ltd.,
- Sophos Group Plc.,
- Palo Alto Networks, Inc.,
- Arm Holdings, and among others.
Internet of Things (IoT) Security Product Market: Segmentation
By Component
- Hardware
- Software
By Deployment Type
- End-point or Device Security
- Network Security
- Identity and Access Management
- Vulnerability Management
- Messaging Security
- Web Security
- Others
By Application
- Machine-to-Machine (M2M) Communication
- Smart Grid
- Home and Building Automation
- Wearable Computing Devices
- Vehicle-to-Vehicle (V2V) Communication
By Verticals
- Consumer Goods and Retail
- Manufacturing
- Transportation and Logistics
- Healthcare
- Energy and Utility
- Others
By Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- MEA
Ask an Analyst @ https://www.futuremarketinsights.com/askus/rep-gb-1264
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
