New report “Global Internet of Things (IoT) Security
Market Research Report 2016” at Market Reports Center covers the present scenario
and the growth prospects of the Internet of Things (IoT) security market for
2016-2021. Includes key players like Cisco, GE, Infineon Technologies, Intel,
Symantec etc.
Worldwide: he major forces driving the IoT security
market are rise in security concerns for critical infrastructures such as
utilities, smart grids, and manufacturing facilities and stringent regulations
and compliance requirements. Nowadays, cloud-based security solutions are
providing good opportunities for the growth of the IoT security market by
minimizing implementation and maintenance costs, thereby leading organizations
to shift towards the deployment of cloud-based security solutions.
The market for IoT security products is currently
small but it is growing as both consumers and businesses start using connected
devices in ever greater numbers. Report forecasts that 6.4 billion connected
things will be in use worldwide in 2016, up 30 percent from 2015, and will
reach 11.4 billion by 2018. However, considerable variation exists among
different industry sectors as a result of different levels of prioritization
and security awareness.
During the last decade, the Asia-Pacific (APAC) region
has undergone tremendous economic growth, political transformation, and social
change. Owing to the sophistication of threats, countries such as India, Japan,
and Singapore have all updated or launched new national security policies.
Factors such as continual growth in mobile workforce, increasing complexity of
businesses, unregulated nature of Internet, and growth in the adoption of BYOD,
which in turn comes up with strong security requirements, are now expected to
push large as well as Small and Medium Businesses (SMBs) to adopt various
security solutions.
Furthermore, the IoT security market remains
competitive with the presence of a large number of vendors. The major vendors
in the IoT security market are Cisco, IBM, Infineon Technologies, Intel
Corporation, Symantec, and Check Point Technologies, among others. The report
also encompasses different strategies,
Segmentation by network security components and
analysis of the IoT security market:
·
Hardware
·
Software
·
Services
The hardware segment will account for the largest
share of the market during the forecast period and will post an impressive
market value of more than USD 18 billion by 2020. Due to the recent increase in
sales of hardware security components, the revenue of this market segment will
increase. Also, factors such as the rapid adoption of firewall and IDP hardware
for integrated security of network infrastructures will also aid in the growth
of this market segment during the forecast period.
The effort of securing IoT is expected to focus more
and more on the management, analytics and provisioning of devices and their
data. IoT business scenarios will require a delivery mechanism that can also
grow and keep pace with requirements in monitoring, detection, access control
and other security needs. The future of cloud-based security services is in
part linked with the future of the IoT. In fact, the IoT's fundamental strength
in scale and presence will not be fully realized without cloud-based security
services to deliver an acceptable level of operation for many organizations in
a cost-effective manner. By 2020, report predicts that over half of all IoT
implementations will use some form of cloud-based security service.
Know more details of report at https://marketreportscenter.com/reports/474606/global-internet-of-things-iot-security-market-research-report-2016
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