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      IoT Security Market worth $56.2 billion by 2029- Exclusive Report by MarketsandMarkets™


      News provided by

      MarketsandMarkets

      Aug 09, 2024, 10:15 ET

      Share this article

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      CHICAGO, Aug. 9, 2024 /PRNewswire/ -- The global IoT Security Market size is projected to grow from USD 24.2 billion in 2024 to USD 56.2 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 18.4% during the forecast period, according to a new report by MarketsandMarkets™.  Organizations face significant financial losses and reputational damage because of increasing cyberattacks on IoT devices. This has made the organizations aware and adopt robust security solutions to protect against threats like device hijacking, data theft, and supply chain intrusions.

      MarketsandMarkets
      MarketsandMarkets

      Browse in-depth TOC on "IoT Security Market"

      150 – Tables
      50 - Figures
      290 – Pages

      Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=67064836

      Scope of the Report

      Report Metrics

      Details

      Market size available for years

      2018-2029

      Base year considered

      2023

      Forecast period

      2024–2029

      Forecast units

      Value (USD Billion) 

      Segments Covered

      Offering, Data Sensitivity, Application, and Region

      Geographies covered

      North America, Europe, Asia Pacific, Middle East & Africa, Latin America

      Companies covered

      Major vendors in the global IoT security Microsoft (US), Fortinet (US), AWS (US), IBM (US), Intel (US), Cisco (US), Thales Group (France), Infineon (Germany) , Allot (Israel), Atos (France), Checkpoint (US), Palo Alto Networks (US), Mobileum (US), Entrust (US), NXP Semiconductors (Netherlands), and Kaspersky (Switzerland), MagicCube (US), Claroty (US), Ordr (US), Armis (US), Nozomi Networks (US), Keyfactor (US), Particle Industries (US), Karamba Security (Israel), and Forescout (US).

      Based on the Offerings, the Solutions segment accounts for the highest market size during the forecast period.

      Organizations across industries experience the benefits of IoT, the complexity and vulnerability of their networks increase exponentially. For this, Providers such as IBM, Microsoft, Check Point, Fortinet, Atos offer IoT security solutions such as device authentication, data encryption, secure communication protocols, and advanced threat detection. These solutions are beneficial to prevent unauthorized access, data breaches, and other cyber attacks. Comprehensive security measures are necessary to safeguard sensitive data, protect critical infrastructure, and maintain operational resilience. The dynamic nature of the IoT landscape demands continuous adaptation and innovation in security solutions to counter evolving threats.

      Request Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=67064836

      Based on the Services, the Professional services accounts for the highest market size during the forecast period.

      Organizations increasingly rely on expert assistance for IoT asset protection Professional service providers offer comprehensive solutions, from risk assessments to ongoing monitoring, helping organizations mitigate security risks and comply with industry regulations. The demand for professional guidance in implementing and managing IoT security solutions increases because of the complexities in IoT ecosystems. The need for tailored security solutions, the intricacy of IoT systems, and the lack of in-house expertise that drive this demand. Professional services, including consulting, integration, and managed services, are crucial for organizations tackling IoT security challenges. The increasing frequency of ransomware attacks on IoT devices and concerns about critical infrastructure further highlight the need for professional services.

      By region, North America accounts for the highest market size.

      North America is one of the main geographic contributors to the global lot security market, even when it comes to market size. Economically strong nations like the US and Canada, the region offers the most substantial and cutting-edge technological infrastructure. One of the main factors driving the lot security market's growth in North America is the existence of major regional players such as Microsoft, Fortinet, IBM, and others. Government agencies such as National Institute of Standards and Technology (NIST) are investigating loT security technology on a number of fronts, including protocols, security assurances, use cases, applications, and current services.

      Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=67064836

      Top Key Companies in IoT Security Market:

      Key Players Microsoft (US), Fortinet (US), AWS (US), IBM (US), Intel (US), Cisco (US), Thales Group (France), Infineon (Germany) , Allot (Israel), Atos (France), Checkpoint (US), Palo Alto Networks (US), Mobileum (US), Entrust (US), NXP Semiconductors (Netherlands), and Kaspersky (Switzerland), MagicCube (US), Claroty (US), Ordr (US), Armis (US), Nozomi Networks (US), Keyfactor (US), Particle Industries (US), Karamba Security (Israel), and Forescout (US) are the key players and other players in the IoT Security Market.

      Browse Adjacent Market: Information Security Market Research Reports & Consulting

      Browse Other Reports:

      Zero Trust Security Market- Global Forecast to 2029

      Endpoint Protection Platform (EPP) Market- Global Forecast to 2029

      Attack Surface Management Market- Global Forecast to 2029

      Digital Signature Market- Global Forecast to 2028

      Certificate Authority Market- Global Forecast to 2028

      Get access to the latest updates on IoT Security Companies and IoT Security Industry

      About MarketsandMarkets™

      MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

      MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

      Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

      The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

      Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

      To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

      Contact:
      Mr. Rohan Salgarkar
      MarketsandMarkets™ INC.
      630 Dundee Road
      Suite 430
      Northbrook, IL 60062
      USA: +1-888-600-6441
      Email: [email protected]
      Visit Our Website: https://www.marketsandmarkets.com/

      Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg

      SOURCE MarketsandMarkets

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