The upcoming report by Persistence Market Research (PMR), provides key insights and segment-wise analysis on the parameters of the global IoT security market. As per the report titled “IoT Security Market: Global Industry Analysis and Forecast 2015-2021,” Internet of Things (IoT) help to connect various devices including consumer and industrial objects and equipment. With the increasing use of IoT enabled devices, the IoT security market is also gaining traction.
IoT includes some of the key components such as Radio Frequency Identification (RFID), Wireless Sensor Network (WSN), Near Field Communication (NFC), cloud services, data analysis and storage. It also helps to effectively manage and monitor multiple interconnections. There has been a rise in demand for IoT security as the IoT has access to organizations operational technology networks and multiple devices. Meanwhile, rising dependency on the existing network connectivity also results in various challenges. Data security and providing secure access are also the important focus areas for IT network. Hence, there is a rise in demand for IoT security systems at organizations. For instance, companies such as Cisco Systems are planning to develop an approach that combines cyber-security and physical components to protect the entire system.
Maintaining network infrastructure security is also necessary to ensure smooth functioning of various devices such as tablets, smartphones, PDAs, etc. The global market for IoT security is segmented on the basis of end-users, and region. End users segment includes automobiles, utilities, healthcare, and others. Meanwhile, the market segmented on the basis of the region includes Asia-Pacific, Europe, Latin America, North America, and the Middle East and Africa (MEA).
Various major market players are also focusing on providing innovative IoT security technology, for example, IoT authentication, IoT encryption, IoT network security, IoT API security, etc. Various new IoT security threats are also contributing to the growth of innovative IoT security technologies for both personal and industrial use. Industrial specific devices can be industrial applications, connected medical devices in healthcare, etc.
Strict Regulations to Secure Information to Result in the Growth of IoT Security Market
The government of various countries are coming up with stringent rules and regulations to secure network from virus and hackers due to an increase in the transfer of digital information. Hence, these regulations can result in the increasing demand for IoT security systems. Meanwhile, technological advancements such as 4G LTE the risk of data hacking has also increased. This is also giving rise to the establishment of strict rules and regulations and to support the implementation of IoT security systems.
Major market players are also expected to find an opportunity for the growth owing to the development of smart city with WiFi hotspots in the multiple locations in a city. However, the high installation cost is hampering the growth of the global IoT security market.
The report also provides a detailed profile of some of the leading market players such as Infineon Technologies, Cisco Systems, Intel Corporation, Wurldtech Security, Siemens AG, Alcatel-Lucent S.A., IBM Corporation, Axeda Machine Cloud, AT&T Inc., On-Line Communication Services, Inc., Huawei Technologies Co. Ltd, and Checkpoint Technologies.
A sample of this report is available upon request @ https://www.persistencemarketresearch.com/samples/4982