Vancouver, BC -- (SBWIRE) -- 02/24/2021 -- The global IoT security market is expected to reach a market size of USD 88.09 Billion by 2028 and register a high revenue CAGR, according to latest analysis by Emergen Research. Increasing number of malware and ransomware attacks and development and deployment of more efficient solutions is expected to drive growth of the global IoT security market growth to a significant extent during the forecast period. Increasing regulations for IoT security is expected to further propel the global IoT security market growth over the forecast period. Rising emphasis among governments of developing countries for development of smart cities is also expected to boost growth of the global IoT security market during the forecast period.

A conscious effort is made by the subject matter experts to analyse how some business owners succeed in maintaining a competitive edge while the others fail to do so makes the research interesting. A quick review of the realistic competitors makes the overall study a lot more interesting. Opportunities that are helping product owners' size up their business further add value to the overall study.

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Key Highlights of Report
Increasing trend of companies adopting Bring Your Own Device trend and IoT security threat to organizations' networks is a factor driving revenue growth of the network security segment currently, which is expected to register a significantly high CAGR of 26.7% over the forecast period.
In terms of revenue share, the solution segment is expected to lead during the forecast period due to increasing need for security solutions across various industries.
In terms of revenue share, the consumer electronics segment is expected to lead among other end-user segments during the forecast period due to increasing adoption of IoT based consumer electronics globally.
Increasing adoption of IoT security solutions across various industries, including retail, healthcare, and logistics, and robust presence of international companies including Cisco Systems, Inc., Intel Corporation, and Broadcom Inc. in countries in North America are key factors expected to drive growth of the market in the region.
Key players in the market include International Business Machines Corporation, Cisco Systems, Inc., Intel Corporation, Siemens AG, Infineon Technologies AG, Broadcom Inc., Fortinet Inc., Palo Alto Networks, Inc., Mocana Corporation, and Karamba Security Ltd.
In June 2020, Cisco Systems, Inc. announced global launch of Cisco SecureX, which is a comprehensive yet embedded cloud-native security framework that includes Cisco Security solutions to streamline and improve the management of security by clients.

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Type Outlook (Revenue, USD Billion; 2021–2028)
Cloud Security
Network Security
Application Security
Endpoint Security
Others

Component Outlook (Revenue, USD Billion; 2021–2028)
Services
Managed Services
Professional Services
Solutions
Encryption
Unified Threat Management
Analytics
Identity & Access Management
Data Loss Protection
Others

End-use Outlook (Revenue, USD Billion; 2021–2028)
Retail
Manufacturing
Defense
Government
Consumer Electronics
Energy & Utilities
Logistics & Transportation
Others

Key questions answered in the report
What will be the market size in terms of value and volume in the next five years?
Which segment is currently leading the market?
In which region will the market find its highest growth?
Which players will take the lead in the market?
What are the key drivers and restraints of the market's growth?

The report segments the IoT Security market on the basis of geography, end-user, end-use, product application, type, share, growth rate and size to reveal where the industry will be in the coming years. The researchers assessing the industry have included the details about the recent decisions and events such acquisition and mergers, collaborations, product launch and investments. Important decisions connected with such events come handy for business owners when positioning their brands in the global market and finalizing the marketing strategies.

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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. IoT Security Market Segmentation & Impact Analysis
4.1. IoT Security Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Stringent environmental regulations
4.2.2.2. Rising need to reduce bacterial or algal contamination in water systems
4.2.2.3. Increasing demand for biocides for municipal water treatment
4.2.3. Market restraints analysis
4.2.3.1. Fluctuating prices of raw material
4.2.3.2. Present challenging economic conditions due to the pandemic
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. IoT Security Market By Application Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
Chapter 6. IoT Security Market By Product type Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
Chapter 7. IoT Security Market Regional Outlook
Chapter 8. Competitive Landscape
Continued…