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IoT Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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    Report

  • 146 Pages
  • May 2023
  • Region: Global
  • IMARC Group
  • ID: 5820929
Description Jump to:
The global IoT security market size reached US$ 3.8 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 18.4 Billion by 2028, exhibiting a growth rate (CAGR) of 30.29% during 2023-2028.

The Internet of Things (IoT) security is a technological solution used for safeguarding networks and connected mechanical or digital devices. The security solutions aim to eradicate vulnerabilities and equip devices to identify, resist and recover from cyber-attacks. These security solutions offer identity access management, data encryption and tokenization, intrusion prevention system and security analytics through antimalware, antivirus and firewalls. Owing to this, these solutions find extensive application across several industries, including energy and utilities, manufacturing, automotive, transportation, etc.

The rising threat of cyber terrorism, along with the rapid adoption of IoT technologies across industries, is one of the key factors driving the growth of the market. The construction of smart cities and increasing automation in various industry verticals are creating an imminent need for enhanced and effective security solutions to safeguard highly sensitive personal and organizational data from malware injection. This, in confluence with the emergence of several new trends, such as Bring Your Own Device (BYOD), especially in the corporate organizational setups, is significantly favoring the market growth. Organizations are thus increasingly encouraging the deployment of IoT security solutions to manage communications and digital identities of their employees across on-premises, cloud and hybrid environments. Other factors, including advancements in 4G and 5G technologies and proliferation of social media platforms resulting in the rising number of identity and data thefts, are projected to drive the market further.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global IoT security market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, security type and vertical.

Breakup by Component:

  • Solutions
  • Services
Based on the component, IoT security solutions currently account for the highest market share.

Breakup by Security Type:

  • Network Security
  • Endpoint Security
  • Application Security
  • Cloud Security
  • Others
Based on the security type, cloud security segment currently accounts for majority of the market share.

Breakup by Vertical:

  • Energy and Utilities
  • Manufacturing
  • Automotive
  • Transport
  • Consumer Electronics
  • Healthcare
  • Others
Based on the vertical, energy and utilities segment currently account for the highest market share.

Breakup by Region:

Asia Pacific

  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others

Europe

  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others

North America

  • United States
  • Canada

Middle East and Africa

  • Turkey
  • Saudi Arabia
  • Iran
  • United Arab Emirates
  • Others

Latin America

  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
  • Peru
  • Others
Based on the geography, North America currently represents the biggest market for IoT security.

Competitive Landscape:

The report has also analyzed the competitive landscape of the market with some of the key players being Allot Ltd., Armis Inc., CENTRI Technology, Cisco Systems, Inc. ForgeRock Inc., Fortinet, Inc., Gemalto NV, International Business Machines (IBM) Corporation, Infineon Technologies AG, Intel Corporation, Mocana Corporation, Newsky Internet Limited, SecuriThings, NortonLifeLock Inc. (Symantec Corporation), and ZingBox Inc.

Key Questions Answered in This Report

1. What was the size of the global IoT security market in 2022?
2. What is the expected growth rate of the global IoT security market during 2023-2028?
3. What has been the impact of COVID-19 on the global IoT security market?
4. What are the key factors driving the global IoT security market?
5. What is the breakup of the global IoT security market based on the component?
6. What is the breakup of the global IoT security market based on the security type?
7. What is the breakup of the global IoT security market based on the vertical?
8. What are the key regions in the global IoT security market?
9. Who are the key players/companies in the global IoT security market?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global IoT Security Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Component
6.1 Solutions
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Services
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Security Type
7.1 Network Security
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Endpoint Security
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Application Security
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Cloud Security
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast
8 Market Breakup by Vertical
8.1 Energy and Utilities
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Manufacturing
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Automotive
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Transport
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Consumer Electronics
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Healthcare
8.6.1 Market Trends
8.6.2 Market Forecast
8.7 Others
8.7.1 Market Trends
8.7.2 Market Forecast
9 Market Breakup by Region
9.1 Asia Pacific
9.1.1 China
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Japan
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.1.3 India
9.1.3.1 Market Trends
9.1.3.2 Market Forecast
9.1.4 South Korea
9.1.4.1 Market Trends
9.1.4.2 Market Forecast
9.1.5 Australia
9.1.5.1 Market Trends
9.1.5.2 Market Forecast
9.1.6 Indonesia
9.1.6.1 Market Trends
9.1.6.2 Market Forecast
9.1.7 Others
9.1.7.1 Market Trends
9.1.7.2 Market Forecast
9.2 Europe
9.2.1 Germany
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 France
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 United Kingdom
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 Italy
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Spain
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Russia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 North America
9.3.1 United States
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 Canada
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Argentina
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.4.4 Colombia
9.4.4.1 Market Trends
9.4.4.2 Market Forecast
9.4.5 Chile
9.4.5.1 Market Trends
9.4.5.2 Market Forecast
9.4.6 Peru
9.4.6.1 Market Trends
9.4.6.2 Market Forecast
9.4.7 Others
9.4.7.1 Market Trends
9.4.7.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Turkey
9.5.1.1 Market Trends
9.5.1.2 Market Forecast
9.5.2 Saudi Arabia
9.5.2.1 Market Trends
9.5.2.2 Market Forecast
9.5.3 Iran
9.5.3.1 Market Trends
9.5.3.2 Market Forecast
9.5.4 United Arab Emirates
9.5.4.1 Market Trends
9.5.4.2 Market Forecast
9.5.5 Others
9.5.5.1 Market Trends
9.5.5.2 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Allot Ltd.
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 Armis Inc.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3 CENTRI Technology
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 Cisco Systems, Inc.
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5 ForgeRock Inc.
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6 Fortinet, Inc.
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 Gemalto NV
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 SWOT Analysis
14.3.8 International Business Machines (IBM) Corporation
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.8.4 SWOT Analysis
14.3.9 Infineon Technologies AG
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.9.4 SWOT Analysis
14.3.10 Intel Corporation
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.10.4 SWOT Analysis
14.3.11 Mocana Corporation
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.12 Newsky Internet Limited
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
14.3.13 SecuriThings
14.3.13.1 Company Overview
14.3.13.2 Product Portfolio
14.3.14 NortonLifeLock Inc. (Symantec Corporation)
14.3.14.1 Company Overview
14.3.14.2 Product Portfolio
14.3.15 ZingBox Inc.
14.3.15.1 Company Overview
14.3.15.2 Product Portfolio
List of Figures
Figure 1: Global: IoT Security Market: Major Drivers and Challenges
Figure 2: Global: IoT Security Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: IoT Security Market: Breakup by Component (in %), 2022
Figure 4: Global: IoT Security Market: Breakup by Security Type (in %), 2022
Figure 5: Global: IoT Security Market: Breakup by Vertical (in %), 2022
Figure 6: Global: IoT Security Market: Breakup by Region (in %), 2022
Figure 7: Global: IoT Security Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 8: Global: IoT Security (Solutions) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: IoT Security (Solutions) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: IoT Security (Services) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: IoT Security (Services) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: IoT Security (Network Security) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: IoT Security (Network Security) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: IoT Security (Endpoint Security) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: IoT Security (Endpoint Security) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: IoT Security (Application Security) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: IoT Security (Application Security) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: IoT Security (Cloud Security) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: IoT Security (Cloud Security) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: IoT Security (Other Security Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: IoT Security (Other Security Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: IoT Security (Energy and Utilities) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: IoT Security (Energy and Utilities) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: IoT Security (Manufacturing) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: IoT Security (Manufacturing) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: IoT Security (Automotive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: IoT Security (Automotive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Global: IoT Security (Transport) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Global: IoT Security (Transport) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Global: IoT Security (Consumer Electronics) Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Global: IoT Security (Consumer Electronics) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Global: IoT Security (Healthcare) Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Global: IoT Security (Healthcare) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Global: IoT Security (Other Verticals) Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Global: IoT Security (Other Verticals) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Asia Pacific: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Asia Pacific: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: China: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: China: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Japan: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Japan: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: India: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: India: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: South Korea: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: South Korea: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Australia: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Australia: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Indonesia: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Indonesia: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Others: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Others: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Europe: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Europe: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Germany: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Germany: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: France: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: France: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: United Kingdom: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: United Kingdom: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Italy: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Italy: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Spain: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Spain: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Russia: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Russia: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Others: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Others: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: North America: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: North America: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: United States: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: United States: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Canada: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Canada: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: Middle East and Africa: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 75: Middle East and Africa: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 76: Turkey: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 77: Turkey: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 78: Saudi Arabia: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 79: Saudi Arabia: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 80: Iran: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 81: Iran: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 82: United Arab Emirates: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 83: United Arab Emirates: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 84: Others: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 85: Others: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 86: Latin America: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 87: Latin America: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 88: Brazil: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 89: Brazil: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 90: Mexico: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 91: Mexico: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 92: Argentina: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 93: Argentina: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 94: Colombia: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 95: Colombia: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 96: Chile: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 97: Chile: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 98: Peru: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 99: Peru: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 100: Others: IoT Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 101: Others: IoT Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 102: Global: IoT Security Industry: SWOT Analysis
Figure 103: Global: IoT Security Industry: Value Chain Analysis
Figure 104: Global: IoT Security Industry: Porter’s Five Forces Analysis
List of Tables
Table 1: Global: IoT Security Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: IoT Security Market Forecast: Breakup by Component (in Million US$), 2023-2028
Table 3: Global: IoT Security Market Forecast: Breakup by Security Type (in Million US$), 2023-2028
Table 4: Global: IoT Security Market Forecast: Breakup by Vertical (in Million US$), 2023-2028
Table 5: Global: IoT Security Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: IoT Security Market: Competitive Structure
Table 7: Global: IoT Security Market: Key Players

Companies Mentioned

  • Allot Ltd.
  • Armis Inc.
  • CENTRI Technology
  • Cisco Systems Inc. ForgeRock Inc.
  • Fortinet Inc.
  • Gemalto NV
  • International Business Machines (IBM) Corporation
  • Infineon Technologies AG
  • Intel Corporation
  • Mocana Corporation
  • Newsky Internet Limited
  • SecuriThings
  • NortonLifeLock Inc. (Symantec Corporation)
  • ZingBox Inc.

Methodology

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Table Information

Report AttributeDetails
No. of Pages146
PublishedMay 2023
Forecast Period2022 - 2028
Estimated Market Value ( USD ) in 2022 $ 3.8 Billion
Forecasted Market Value ( USD ) by 2028 $ 18.4 Billion
Compound Annual Growth Rate30.1%
Regions CoveredGlobal
No. of Companies Mentioned14

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