Industry Background:
Internet of things (IOT) security is the technology concerned with protection connected devices as well as networks in the internet of things (IOT). IOT platform is a multi-layer technology that allows straightforward provisioning, managing and automation of linked devices within the Internet of Things universe. There are various type of IOT security such as network security, endpoint security, application security, cloud Security and others. Growing incidences of cyber-attacks as well as rising dependency on connected devices will help to boost global IOT security market.
According to AMA, the market for Internet of Things (IoT) Security is expected to register a CAGR of 33.6% during the forecast period to 2027. This growth is primarily driven by Increasing Incidences of Cyber Attacks and Rising Dependency on Connected Devices.
Globally, a noticeable market trend is evident Up Surging Demand of IOT Solutions in Organizations
. The Technology sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as PTC Inc. (United States), Symantec Corporation (United States), Cisco Systems, Inc. (United States), IBM Corporation (United States), Verizon Enterprises Solutions (United States), Trustwave (United States), Check Point Security Software Technologies Ltd. (Israel) and Infineon Technologies (Germany) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 29th November 2018 PTC Inc. a global leader of IOT security has acquired Frustum software Development Company for artificial intelligence generative design tech. the deal was established for 70 million dollar in all cash transactions.
On 14th August 2018, PTC Inc. a global leader of IOT security has unveiled a Coordinated Vulnerability Disclosure (CVD) Program. This program is designed to support the reporting and remediation of security vulnerabilities that could potentially affect the environments in which PTC products operate.
Market Drivers
- Increasing Incidences of Cyber Attacks
- Rising Dependency on Connected Devices
Market Trend
- Up Surging Demand of IOT Solutions in Organizations
- High Adoption of Smart Devices
- Growing Trend Of Bring Your Own Device (BYOD)
Restraints
- Lack of Awareness about IOT Solution Benefits
- Less Number of Expertise
Opportunities
Growing IOT Security Expenditure in Developing Countries
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Internet of Things (IoT) Security Study Sheds Light on
The Internet of Things (IoT) Security Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Internet of Things (IoT) Security industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Internet of Things (IoT) Security industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.