IoT Security Global Market Report 2022 – By Type (Network Security, Endpoint Security, Application Security, Cloud Security), By Application (Healthcare & Life Sciences, Infrastructure & Cities, Industrial System & Sensors, Smart Home & Consumer, Transport & Urban Mobility), By Component (Solution, Services) – Market Size, Trends, And Global Forecast 2022-2026

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The IoT security market consists of sales of Internet of Things (IoT) security devices/ software and related services. The IOT security is a technological area that provides solutions for safeguarding smart devices, networks, other connected devices and centralized user hubs from unwanted manipulation. This industry includes establishments that provide security solutions to counter IoT security threats such as remote vehicle hijacking, privacy leaks, brute force attacks on passwords and others.

The main types are network security, endpoint security, application security, cloud security, and others. Network security is a designed set of rules and configurations, used to protect the integrity, confidentiality and accessibility of computer networks and data using both software and hardware technologies. The IoT security components are solutions and services. The various applications of IoT security are healthcare and life sciences, infrastructure and cities, industrial systems and sensors, smart home and consumer, and transport and urban mobility.

The global Internet of Things security market size is expected to grow from $3.86 billion in 2021 to $5.09 billion in 2022 at a compound annual growth rate (CAGR) of 31.7%. The change in the IoT security market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $15.06 billion in 2026 at a CAGR of 31.2%.

The emergence of smart city concept is the driving force for the rise in demand for IoT Security. As the population is growing, the need for sustainable development is of more important. Smart cities are well equipped with handling high traffic, population control, and better security for people. The execution for such a task can be done by installing IoT Devices in the smart cities. This involves connecting devices to one another, exchange data in a secured manner, forming a pattern and then providing a final solution. The remotely connected CCTV and automated incident detection (the use of computers to continuously monitor traffic conditions and detect incidents or traffic queues) allow a quicker response to threats. IoT led crowd management solutions help monitor and manage crowds of people across all sorts of gatherings. Smart street lighting helps to lower crime rates and improve driving conditions. This rising demand for security in the smart cities increases investment in the IoT Security Market. For instance, as on 12 November 2021, Indian Central Government released ? 27,235 crore ($ 3.67 billion) to States/Union Territories for the Smart Cities.

Lack of awareness regards the importance of IoT security and risk mitigating measures among the people may hinder the IOT security market growth. The IoT security service providers are impacted due to the lack of awareness as there are instances where the IoT devices have been attacked by malicious software and viruses. Installing an IoT device does not simply solve the problem of security concerns. For instance, according to a survey conducted by Trend Micro, IT Security firm, 86% of IT and security decision makers across the globe believe that their organizations need to enhance their awareness of IoT threats. Furthermore, the survey stated that lack of awareness makes the organization fall and lead to thefts and data breach. According to another survey conducted by Dynatrace, a software company, consumers continue to see a significant risk in IoT device security where two-thirds of them have encountered performance issues with potential risk.

The increasing usage of block chain technology in order to protect data of IoT devices, enhance transparency and security, reduce costs, and increase efficiency is a new trend in the IoT Security market. Block chain is a distributed decentralized ledger and underlying technology of bitcoin (a cryptocurrency) which is shared database (can be saved, owned, updated at different levels), not managed by central authority, comprising secure transactions, authenticated and verifiable. The block chain technology is integrated into IoT networks to provide additional privacy and security. It helps in reduction of processing time and cost, records transactions of all connected IOT devices, ensures tracking connected devices, coordinates these devices and aid smooth transaction process, provides efficiency to compliance issues, avoid re-entries, data leakages and frauds, minimize time to settle losses and ensures cryptographic security. For instance, Atonomi provides IoT security solution to IoT developers and manufacturers with block chain based immutable identity and reputation tracking. In 2019, according to a survey by Gemalto, a digital security firm, the adoption of block chain technology to help secure IoT data, services and devices in the IoT sector doubled from 9% to 19%.

The European Telecommunications Standards Institute (ETSI), a Technical Committee on Cybersecurity (TY Cyber) released a first globally applicable standard for consumer IoT security, ETSI TS 103 645, so as to keep a security baseline for all internet-connected consumer products and provide a basis for future IoT certification schemes. This standard state that the IoT devices must make it easy for consumers to delete their personal data when there is a transfer of ownership. The standard also requires the implementers to stop using universal default passwords as it may lead to a large number of security issues. It also allows the security researchers to report any kind of security flaw in the IoT device.

In June 2020, Microsoft Corporation, a USA based technology company that develops, manufactures, licenses, supports, and sells computer software, consumer electronics, personal computers, and related services acquired Cyber X, Inc. for $165 million. This acquisition will expand Microsoft Corporation Azure IoT security offerings, including Azure Sentinel, to cover devices in a variety of industrial settings. Cyber X, Inc, a USA based Computer & Network Security company.

Major players in the IoT security market are Cisco, IBM, Intel, Infineon, Symantec Corporation, Check Point Security Software, Gemalto, AT&T Inc., Alcatel-Lucent S.A, Allot, Fortinet, Mocana, Securithings, Centri, Armis, Forgerock, Newsky, PTC Inc., Verizon Enterprises Solutions, Trustwave, Siemens AG, Wurldtech Security, Axeda Machine Cloud, Huawei Technologies Co. Ltd, NETCOM On-Line Communication Services, Sophos, NSIDE Secure and ARM Holding.

The regions covered in the IoT security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the Internet of Things security market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The global IoT security market is segmented -

1) By Type: Network Security, Endpoint Security, Application Security, Cloud Security, Others

2) By Application: Healthcare and Life Sciences, Infrastructure and Cities, Industrial System and Sensors, Smart Home and Consumer, Transport and Urban Mobility

3) By Component: Solution, Services

    Table Of Contents

    1. Executive Summary

    2. IoT Security Market Characteristics

    3. IoT Security Market Trends And Strategies

    4. Impact Of COVID-19 On IoT Security

    5. IoT Security Market Size And Growth

    5.1. Global IoT Security Historic Market, 2016-2021, $ Billion

    5.1.1. Drivers Of The Market

    5.1.2. Restraints On The Market

    5.2. Global IoT Security Forecast Market, 2021-2026F, 2031F, $ Billion

    5.2.1. Drivers Of The Market

    5.2.2. Restraints On the Market

    6. IoT Security Market Segmentation

    6.1. Global IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    Network Security

    Endpoint Security

    Application Security

    Cloud Security

    Others

    6.2. Global IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    Healthcare & Life Sciences

    Infrastructure & Cities

    Industrial System & Sensors

    Smart Home & Consumer

    Transport & Urban Mobility

    6.3. Global IoT Security Market, Segmentation By Component, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    Solution

    Services

    7. IoT Security Market Regional And Country Analysis

    7.1. Global IoT Security Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    7.2. Global IoT Security Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    8. Asia-Pacific IoT Security Market

    8.1. Asia-Pacific IoT Security Market Overview

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    8.3. Asia-Pacific IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    9. China IoT Security Market

    9.1. China IoT Security Market Overview

    9.2. China IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F,$ Billion

    9.3. China IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F,$ Billion

    10. India IoT Security Market

    10.1. India IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    10.2. India IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    11. Japan IoT Security Market

    11.1. Japan IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    11.2. Japan IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    12. Australia IoT Security Market

    12.1. Australia IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    12.2. Australia IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    13. Indonesia IoT Security Market

    13.1. Indonesia IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    13.2. Indonesia IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    14. South Korea IoT Security Market

    14.1. South Korea IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    14.2. South Korea IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    15. Western Europe IoT Security Market

    15.1. Western Europe IoT Security Market Overview

    15.2. Western Europe IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    15.3. Western Europe IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    16. UK IoT Security Market

    16.1. UK IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    16.2. UK IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    17. Germany IoT Security Market

    17.1. Germany IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    17.2. Germany IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    18. France IoT Security Market

    18.4. France IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    18.5. France IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    19. Eastern Europe IoT Security Market

    19.1. Eastern Europe IoT Security Market Overview

    19.2. Eastern Europe IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    19.3. Eastern Europe IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    20. Russia IoT Security Market

    20.1. Russia IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    20.2. Russia IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    21. North America IoT Security Market

    21.1. North America IoT Security Market Overview

    21.2. North America IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    21.3. North America IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    22. USA IoT Security Market

    22.1. USA IoT Security Market Overview

    22.2. USA IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    22.3. USA IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    23. South America IoT Security Market

    23.1. South America IoT Security Market Overview

    23.2. South America IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    23.3. South America IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    24. Brazil IoT Security Market

    24.1. Brazil IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    24.2. Brazil IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    25. Middle East IoT Security Market

    25.1. Middle East IoT Security Market Overview

    25.2. Middle East IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    25.3. Middle East IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    26. Africa IoT Security Market

    26.1. Africa IoT Security Market Overview

    26.2. Africa IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    26.3. Africa IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    27. IoT Security Market Competitive Landscape And Company Profiles

    27.1. IoT Security Market Competitive Landscape

    27.2. IoT Security Market Company Profiles

    27.2.1. Cisco

    27.2.1.1. Overview

    27.2.1.2. Products and Services

    27.2.1.3. Strategy

    27.2.1.4. Financial Performance

    27.2.2. IBM

    27.2.2.1. Overview

    27.2.2.2. Products and Services

    27.2.2.3. Strategy

    27.2.2.4. Financial Performance

    27.2.3. Intel

    27.2.3.1. Overview

    27.2.3.2. Products and Services

    27.2.3.3. Strategy

    27.2.3.4. Financial Performance

    27.2.4. Infineon

    27.2.4.1. Overview

    27.2.4.2. Products and Services

    27.2.4.3. Strategy

    27.2.4.4. Financial Performance

    27.2.5. Symantec Corporation

    27.2.5.1. Overview

    27.2.5.2. Products and Services

    27.2.5.3. Strategy

    27.2.5.4. Financial Performance

    28. Key Mergers And Acquisitions In The IoT Security Market

    29. IoT Security Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Research Inquiries

    30.4. The Business Research Company

    30.5. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2016-2021, $ Billion
  • Table 2: Global Forecast Market Growth, 2021-2026F, 2031F, $ Billion
  • Table 3: Global IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 4: Global IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 5: Global IoT Security Market, Segmentation By Component, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 6: Global IoT Security Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 7: Global IoT Security Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 8: Asia-Pacific, IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 9: Asia-Pacific, IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 10: China, IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 11: China, IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 12: India, IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 13: India, IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 14: Japan, IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 15: Japan, IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 16: Australia, IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 17: Australia, IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 18: Indonesia, IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 19: Indonesia, IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 20: South Korea, IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 21: South Korea, IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 22: Western Europe, IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 23: Western Europe, IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 24: UK, IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 25: UK, IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 26: Germany, IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 27: Germany, IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 28: France, IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 29: France, IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 30: Eastern Europe, IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 31: Eastern Europe, IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 32: Russia, IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 33: Russia, IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 34: North America, IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 35: North America, IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 36: USA, IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 37: USA, IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 38: South America, IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 39: South America, IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 40: Brazil, IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 41: Brazil, IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 42: Middle East, IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 43: Middle East, IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 44: Africa, IoT Security Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 45: Africa, IoT Security Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 46: Cisco Financial Performance
  • Table 47: IBM Financial Performance
  • Table 48: Intel Financial Performance
  • Table 49: Infineon Financial Performance
  • Table 50: Symantec Corporation Financial Performance

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