Internet of Things (IoT) Security Market by Type (Network, Endpoint, Application and Cloud Security), Solution (Identity Access Management, Device Authentication and Management, Security Analytics, and IDS/IPS), Service, Application Area, and Region - Global Forecast to 2022

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Date: 14-Jun-2017
No. of pages: 161
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The Internet of Things (IoT) security market is expected to grow at a Compound Annual Growth Rate (CAGR) of 34.4% from 2017 to 2022, owing to the increasing need for security over IoT networks

The IoT security market size is expected to grow from USD 6.62 billion in 2017 to USD 29.02 billion by 2022, at a CAGR of 34.4% from 2017 to 2022.The growing instances of ransom are attacks on IoT networks, mandates the critical need for reliable IoT security solutions. IoT security is gaining importance due to increasing IoT deployments and thereby growing vulnerability of the network and devices to various cyber-attacks such as ransom are attacks. Today IoT has managed to be an integral part of day to day life and hence security aspect associated with it is important. Organizations with IoT deployments are implementing optimum security mechanisms to ensure confidentiality of the data. Today IoT security is important not only for data security of enterprises but also for crucial entities such as human lives and national intelligence.

Integration services among the professional services segment is expected to gain maximum traction during the forecast period

Installation and integration services play major role in ensuring security of the IoT network which comprises of numerous IoT devices, sensors and actuators by implementing security measures to system. Integration service providers help commercial clients implement a secure network across the deployed IoT system by integrating and ensuring that IoT security solutions are in line with the business processes.

Network security is estimated to have the largest market size in IoT security market during the forecast period

Network security is crucial when it comes to the security of whole IoT deployment. Network security comprises of wireless communication & remote access security, and gateway. For secure communications over wireless devices, various secure protocols such as LPWAN, Zig-bee, 6LowPAN, Bluetooth, Z-Wave, and NFC are used. Also, Gateway anti-virus and anti-spyware are used to ensures security of IoT/M2M gateway, intrusions, viruses, spyware, worms, trojans, adware, keyloggers, malicious mobile code (MMC) by using techniques such as ACLs, IDS/IPS, and filtering. Security over wireless netowrk is crucial in IoT systems as it carries voluminous and important data over network and is vulnurable for malacious attacks.

North America is estimated to have the largest market size and Asia Pacific (APAC)is projected to grow at the highest rate during the forecast period

The North American region have witnessed the significant adoption of IoT security services mainly in US and Canada. Enterprises have shown significant interest in deploying IoT technologies in their processes, which helps drive the growth of IoT security market in the region. In 2015, US government invested USD 160 million in smart city initiatives to leverage on big data and analytics to reduce traffic congestion, fight crime, spur economic growth, manage climate change and improve delivery of local services. Also, in 2016,the Department of Homeland Security (DHS) issued a set of principles for securing IoT networks which highlight approaches of IoT security to make responsible and risk-based security decisions. The US government is helping private sector to implement IoT in various businesses, this is evident by the fact that the government of US and ITIF has started working to provide assistance for IoT related issues.

The APAC region is expected to showcase significant growth and is expected to be the fastest-growing region in IoT security market. Countries in the region are coming up with favorable norms for implementing IoT in various fields. Japan has managed to maintain leading position in the region in robotics and IoT technologies in production. Growing requirements for quick computing, virtualized environment, analytics, cyber security and complex networking are among other factor driving market for IoT security in the region.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profile of primary participants is as follows:


  • By Company: Tier 1 – 30 %, Tier 2 – 40%, and Tier 3 – 30%

  • By Designation: C level – 72%, Director level – 14%, and Others – 14%

  • By Region: North America – 57%, Europe – 14%, and APAC – 29%


The IoT security ecosystem comprises major vendors, such as PTC, Inc. (US), Symantec Corporation (US), Verizon Enterprise Solutions (US), Trust wave (US), Check Point Security Software Technologies Ltd. (US), Cisco Systems, Inc. (US), IBM Corporation (US), Infineon Technologies (Germany), Gemal to NV (Netherlands), AT&T, Inc. (US), Trend Micro, Inc. (Japan), Digi Cert (US).

Research Coverage

The report includes in-depth competitive analysis of these key players in the IoT security market, with their company profiles, recent developments, and key market strategies. The research report segments the IoT security market by type, solution, service, application area and region.

Reasons to buy the Report

The IoT security market has been segmented on the basis of type, solutions, services, application area and regions.

The report will help the market leaders/new entrants in this market in the following ways:


  • The overall IoT security market size has been estimated based on the revenues earned by vendors, offering solutions and services in multiple application areas, inclusive of professional and managed IoT security services. The report provides the closest approximations of the revenue numbers for the overall market and the subsegments. The market numbers are further split into regions.

  • The report helps the stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

  • This report will help the stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers and acquisitions.

Internet of Things (IoT) Security Market by Type (Network, Endpoint, Application and Cloud Security), Solution (Identity Access Management, Device Authentication and Management, Security Analytics, and IDS/IPS), Service, Application Area, and Region - Global Forecast to 2022

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.2.1 Years Considered for the Study
1.3 Currency
1.4 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Research Assumptions
2.4 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the IoT Security Market
4.2 IoT Security Market, By Top 3 Solution and Region, 2017
4.3 Lifecycle Analysis, By Region, 2017
4.4 Market Investment Scenario
4.5 IoT Security Market, By Type, 2017–2022

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Ransomware Attacks on IoT Systems
5.2.1.2 Securing Ubiquitous Environment
5.2.1.3 Increasing Need for Data-Centric Security
5.2.1.4 Mandatory Requirements to Comply With Stringent Regulations
5.2.1.5 Increase in Risk-Based Adaptive Security for IoT Ecosystem
5.2.2 Restraints
5.2.2.1 Costly IoT Security Innovations and Budget Constraints
5.2.2.2 Physical Restraint of IoT Devices and Endless Variety of IoT Applications
5.2.3 Opportunities
5.2.3.1 Increased Data Risk in Vast IoT Networks
5.2.3.2 Increasing Use of Freeware IoT Operating Systems
5.2.4 Challenges
5.2.4.1 Low Awareness About the Importance of IoT Security
5.2.4.2 Lack of Standardization for IoT Solutions
5.3 Regulatory Implications
5.3.1 ISO Standards
5.3.2 ISO/IEC JTC1
5.3.2.1 ISO/IEC JTC1/SWG5
5.3.2.2 ISO/IEC JTC1/SC31
5.3.2.3 ISO/IEC JTC1/SC27
5.3.2.4 ISO/IEC JTC1/WG7 Sensors
5.3.3 IEEE
5.3.4 CEN/ISO
5.3.5 CEN/CENELEC
5.3.6 ETSI
5.3.7 ITU-T
5.3.8 NIST
5.4 IoT Threat Map Analysis

6 IoT Security Market Analysis, By Component
6.1 Introduction

7 IoT Security Market Analysis, By Type
7.1 Introduction
7.2 Network Security
7.3 Endpoint Security
7.4 Application Security
7.5 Cloud Security
7.6 Others

8 IoT Security Market Analysis, By Solution
8.1 Introduction
8.2 Identity Access Management
8.3 Data Encryption and Tokenization
8.4 Intrusion Detection System/Intrusion Prevention System
8.5 Device Authentication and Management
8.6 Secure Software and Firmware Update
8.7 Secure Communications
8.8 PKI Lifecycle Management
8.9 Distributed Denial of Service Protection
8.10 Security Analytics
8.11 Others

9 IoT Security Market Analysis, By Service
9.1 Introduction
9.2 Professional Services
9.2.1 Integration Services
9.2.2 Support and Maintenance
9.2.3 Consulting Services
9.3 Managed Services

10 IoT Security Market Analysis, By Application Area
10.1 Introduction
10.2 Smart Manufacturing
10.3 Smart Energy and Utilities
10.4 Connected Logistics
10.5 Consumer Wearables
10.6 Connected Healthcare
10.7 Smart Government and Defense
10.8 Connected Vehicles
10.9 Smart Retail
10.10 Others

11 Geographic Analysis
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia Pacific
11.5 Middle East and Africa
11.6 Latin America

12 Competitive Landscape
12.1 Microquadrant Overview
12.1.1 Vanguards
12.1.2 Innovators
12.1.3 Dynamic
12.1.4 Emerging
12.2 Competitive Benchmarking
12.2.1 Product Offerings
12.2.2 Business Strategies

13 Company Profiles
(Overview, Financials, Products & Services, Strategy, and Developments)*
13.1 PTC Inc.
13.2 Symantec Corporation
13.3 Verizon Enterprise Solutions
13.4 Trustwave
13.5 Check Point Security Software Technologies Ltd.
13.6 Cisco Systems, Inc.
13.7 International Business Machines Corporation
13.8 Infineon Technologies
13.9 Gemalto NV
13.10 AT&T, Inc.
13.11 Trend Micro, Inc.
13.12 Digicert

*Details on Overview, Financials, Product & Services, Strategy, and Developments Might Not Be Captured in Case of Unlisted Companies.

14 Appendix
14.1 Industry Excerpts
14.2 Discussion Guide
14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
14.4 Introducing RT: Real-Time Market Intelligence
14.5 Available Customizations
14.6 Related Reports
14.7 Author Details

List of Tables

Table 1 IoT Security Market Size, By Component, 2015–2022 (USD Million)
Table 2 Market Size, By Type, 2015–2022 (USD Million)
Table 3 Type: IoT Security Market Size, By Region, 2015–2022 (USD Million)
Table 4 Network Security: Market Size, By Region, 2015–2022 (USD Million)
Table 5 Endpoint Security: IoT Security Market Size, By Region, 2015–2022 (USD Million)
Table 6 Application Security: IoT Security Market Size, By Region, 2015–2022 (USD Million)
Table 7 Cloud Security: Market Size, By Region, 2015–2022 (USD Million)
Table 8 Others: Market Size, By Region, 2015–2022 (USD Million)
Table 9 IoT Security Market Size, By Solution, 2015–2022 (USD Million)
Table 10 Solutions: Market Size, By Region, 2015–2022 (USD Million)
Table 11 Identity Access Management: Market Size, By Region, 2015–2022 (USD Million)
Table 12 Data Encryption and Tokenization: Market Size, By Region, 2015–2022 (USD Million)
Table 13 Intrusion Detection System/Intrusion Prevention System: Market Size, By Region, 2015–2022 (USD Million)
Table 14 Device Authentication and Management:Market Size, By Region, 2015–2022 (USD Million)
Table 15 Secure Software and Firmware Update: Market Size, By Region, 2015–2022 (USD Million)
Table 16 Secure Communications: Market Size, By Region, 2015–2022 (USD Million)
Table 17 PKI Lifecycle Management:Market Size, By Region, 2015–2022 (USD Million)
Table 18 Distributed Denial of Service Protection:Market Size, By Region, 2015–2022 (USD Million)
Table 19 Security Analytics: Market Size, By Region, 2015–2022 (USD Million)
Table 20 Others: Size, By Region, 2015–2022 (USD Million)
Table 21 IoT Security Market Size, By Service, 2015–2022 (USD Million)
Table 22 Services: Market Size, By Region, 2015–2022 (USD Million)
Table 23 IoT Security Market Size, By Professional Service, 2015–2022 (USD Million)
Table 24 Professional Services: Market Size, By Region, 2015–2022 (USD Million)
Table 25 Integration Services Market Size, By Region, 2015–2022 (USD Million)
Table 26 Support and Maintenance Market Size, By Region, 2015–2022 (USD Million)
Table 27 Consulting Services Market Size, By Region, 2015–2022 (USD Million)
Table 28 Managed Services: Market Size, By Region, 2015–2022 (USD Million)
Table 29 IoT Security Market Size, By Application Area, 2015–2022 (USD Million)
Table 30 Application Area: Market Size, By Region, 2015–2022 (USD Million)
Table 31 Smart Manufacturing: Market Size, By Region, 2015–2022 (USD Million)
Table 32 Smart Energy and Utilities: Market Size, By Region, 2015–2022 (USD Million)
Table 33 Connected Logistics: Market Size, By Region, 2015–2022 (USD Million)
Table 34 Consumer Wearables: Market Size, By Region, 2015–2022 (USD Million)
Table 35 Connected Healthcare: Market Size, By Region, 2015–2022 (USD Million)
Table 36 Smart Government and Defense: Market Size, By Region, 2015–2022 (USD Million)
Table 37 Connected Vehicles: Market Size, By Region, 2015–2022 (USD Million)
Table 38 Smart Retail: Market Size, By Region, 2015–2022 (USD Million)
Table 39 Others: Market Size, By Region, 2015–2022 (USD Million)
Table 40 IoT Security Market Size, By Region, 2015–2022 (USD Million)
Table 41 North America: IoT Security Market Size, By Component, 2015–2022 (USD Million)
Table 42 North America: Market Size, By Type, 2015–2022 (USD Million)
Table 43 North America: Market Size, By Solution, 2015–2022 (USD Million)
Table 44 North America: Market Size, By Service, 2015–2022 (USD Million)
Table 45 North America: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 46 North America: Market Size, By Application Area, 2015–2022 (USD Million)
Table 47 Europe: IoT Security Market Size, By Component, 2015–2022 (USD Million)
Table 48 Europe: Market Size, By Type, 2015–2022 (USD Million)
Table 49 Europe: Market Size, By Solution, 2015–2022 (USD Million)
Table 50 Europe: Market Size, By Service, 2015–2022 (USD Million)
Table 51 Europe: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 52 Europe: Market Size, By Application Area, 2015–2022 (USD Million)
Table 53 Asia Pacific: IoT Security Market Size, By Component, 2015–2022 (USD Million)
Table 54 Asia Pacific: Market Size, By Type, 2015–2022 (USD Million)
Table 55 Asia Pacific: Market Size, By Solution, 2015–2022 (USD Million)
Table 56 Asia Pacific: Market Size, By Service, 2015–2022 (USD Million)
Table 57 Asia Pacific: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 58 Asia Pacific: Market Size, By Application Area, 2015–2022 (USD Million)
Table 59 Middle East and Africa: IoT Security Market Size, By Component, 2015–2022 (USD Million)
Table 60 Middle East and Africa: Market Size, By Type, 2015–2022 (USD Million)
Table 61 Middle East and Africa: Market Size, By Solution, 2015–2022 (USD Million)
Table 62 Middle East and Africa: Market Size, By Service, 2015–2022 (USD Million)
Table 63 Middle East and Africa: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 64 Middle East and Africa: Market Size, By Application Area, 2015–2022 (USD Million)
Table 65 Latin America: IoT Security Market Size, By Component, 2015–2022 (USD Million)
Table 66 Latin America: Market Size, By Type, 2015–2022 (USD Million)
Table 67 Latin America: Market Size, By Solution, 2015–2022 (USD Million)
Table 68 Latin America: Market Size, By Service, 2015–2022 (USD Million)
Table 69 Latin America: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 70 Latin America: Market Size, By Application Area, 2015–2022 (USD Million)
Table 71 Market Ranking for the IoT Security Solution Providers, 2017

List of Figures

Figure 1 IoT Security Market: Market Segmentation
Figure 2 IoT Security Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 IoT Security Market: Assumptions
Figure 8 North America is Estimated to Hold the Largest Market Share in 2017
Figure 9 Fastest-Growing Segments of the IoT Security Market in 2017
Figure 10 Professional Services Segment is Estimated to Hold the Major Market Share in 2017
Figure 11 Growing Need for Data-Centric Security and Increasing Cyber-Attacks are the Main Drivers for the Growth of the IoT Security Market
Figure 12 Identity Access Management Solution and North America are Estimated to Hold the Largest Market Shares in 2017
Figure 13 Asia Pacific is Expected to Grow at A Significant Pace During the Forecast Period
Figure 14 Asia Pacific is Expected to Emerge as the Best Market for Investments During the Next 5 Years
Figure 15 Application Security is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 16 IoT Security Market: Drivers, Restraints, Opportunities, and Challenges
Figure 17 Services Segment is Expected to Grow at A Higher CAGR Than Solutions During the Forecast Period
Figure 18 Network Security Type is Expected to Hold the Largest Market Size During the Forecast Period
Figure 19 Identity Access Management is Expected to Dominate the IoT Security Solutions Segment During the Forecast Period
Figure 20 Professional Services Segment is Expected to Dominate the IoT Security Services Market During the Forecast Period
Figure 21 Integration Services Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 22 Smart Manufacturing Application Area is Expected to Hold the Largest Market Size During the Forecast Period
Figure 23 North America is Expected to Exhibit the Highest Market Size in the IoT Security Market During the Forecast Period
Figure 24 Asia Pacific has Witnessed the Highest Growth Rate for the IoT Security Market, 2015–2022
Figure 25 North America: Market Snapshot
Figure 26 Asia Pacific: Market Snapshot
Figure 27 Microquadrant
Figure 28 PTC Inc.: Company Snapshot
Figure 29 PTC Inc.: Product Offering Scorecard
Figure 30 PTC Inc.: Business Strategy Scorecard
Figure 31 Symantec Corporation: Company Snapshot
Figure 32 Symantec Corporation: Product Offering Scorecard
Figure 33 Symantec Corporation: Business Strategy Scorecard
Figure 34 Verizon Enterprise Solutions: Company Snapshot
Figure 35 Verizon Enterprise Solutions: Product Offering Scorecard
Figure 36 Verizon Enterprise Solutions: Business Strategy Scorecard
Figure 37 Trustwave: Product Offering Scorecard
Figure 38 Trustwave: Business Strategy Scorecard
Figure 39 Check Point Security Software Technologies Ltd.: Company Snapshot
Figure 40 Check Point Security Software Technologies Ltd.: Product Offering Scorecard
Figure 41 Check Point Security Software Technologies Ltd.: Business Strategy Scorecard
Figure 42 Cisco Systems, Inc.: Company Snapshot
Figure 43 Cisco Systems, Inc.: Product Offering Scorecard
Figure 44 Cisco Systems, Inc.: Business Strategy Scorecard
Figure 45 International Business Machines Corporation: Company Snapshot
Figure 46 International Business Machines Corporation: Product Offering Scorecard
Figure 47 International Business Machines Corporation: Business Strategy Scorecard
Figure 48 Infineon Technologies: Company Snapshot
Figure 49 Infineon Technologies: Product Offering Scorecard
Figure 50 Infineon Technologies: Business Strategy Scorecard
Figure 51 Gemalto NV: Company Snapshot
Figure 52 Gemalto NV: Product Offering Scorecard
Figure 53 Gemalto NV: Business Strategy Scorecard
Figure 54 AT&T, Inc.: Company Snapshot
Figure 55 AT&T, Inc.: Product Offering Scorecard
Figure 56 AT&T, Inc.: Business Strategy Scorecard
Figure 57 Trend Micro, Inc.: Company Snapshot
Figure 58 Trend Micro, Inc.: Product Offering Scorecard
Figure 59 Trend Micro, Inc. Business Strategy Scorecard
Figure 60 Digicert: Product Offering Scorecard
Figure 61 Digicert: Business Strategy Scorecard

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