Market Overview:
The global IoT security services market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing number of cyber-attacks and data breaches, and the need for organizations to protect their critical data and infrastructure. The global IoT security services market is segmented on the basis of type, application, and region. On the basis of type, it is divided into professional services and managed services. Professional services are further classified into consulting, design & integration, and operation & maintenance (O&M). Managed services are sub-divided into cloud-based managed service and on-premises managed service. By application, it is segmented into healthcare, information technology (IT), telecoms, banking & financial institutions (BFSI), automotive industry,,and others including retail sector etc.). Geographically speaking North America dominates this market followed by Europe due To high adoption rate Of IOT Security Solutions In These Regions And Increasing Incidence Of Cyber Attacks .
Product Definition:
IoT security services are the measures and countermeasures used to protect IoT devices and their data from unauthorized access, alteration, or destruction. They include authentication, authorization, encryption, and intrusion detection/prevention. The importance of IoT security services is that they protect the huge volumes of data generated by IoT devices and ensure that these devices can be safely used in business processes and critical infrastructure.
Professional:
Professional is a new term in the IoT security services market which is expected to gain traction over the forecast period. Professional services are those whose primary objective is to safeguard business information and assets from any unauthorized access or disclosure. The growing need for protecting sensitive data across various industries including BFSI, healthcare, government & public sector and telecommunication has led to an increase in adoption of professional service solutions by enterprises as well as organizations across the globe.
Managed:
The global managed and IoT security services market size was valued at USD 1.88 billion in 2016 and is expected to grow at a CAGR of XX% over the forecast period. The growth can be attributed to the increasing adoption of cloud-based solutions for data storage, which has led to an increase in cyberattacks on connected devices globally.
Application Insights:
The telecom sector accounted for the largest revenue share in 2016 and is expected to continue its dominance over the forecast period. The increasing number of connected devices, rising data traffic, and growing demand for M2M communication are some of the factors driving this segment. Furthermore, a large number of IoT applications in this sector require authentication and authorization which further boosts market growth.
The healthcare segment is anticipated to register a significant CAGR over the forecast period owing to various advantages offered by IoT technology such as tracking inventory across different locations thereby reducing wastage and improving operational efficiency. Moreover, there has been an increase in security concerns regarding patient data integrity which will drive demand further. Other sectors such as energy & utilities; transportation; manufacturing; retail etc.
Regional Analysis:
The market in Asia Pacific is expected to grow at a significant rate over the forecast period. The growth can be attributed to increasing adoption of IoT security services by enterprises and consumers. The rising number of smart cities projects across various countries, such as China, India, Singapore, and Japan has increased the demand for IoT-based solutions for various applications including energy management and monitoring systems among others. Moreover, growing investments in developing innovative technologies are also anticipated to drive regional growth over the next eight years.
North America accounted for more than 25% revenue share in 2016 owing to high penetration rates of internet users along with rapid adoption rates of emerging technologies such as 4G/LTE connectivity along with cloud computing among others that have led it into a leader position globally; however; slow economic growth may hinder its progress during the forecast period from 2017 to 2030 (please see Figure 1).
Growth Factors:
- Increasing demand for IoT security services from small and medium-sized businesses (SMBs)
- Proliferation of connected devices and the increasing number of cyber-attacks on IoT devices
- The growing need for data privacy and protection in the age of big data and cloud computing
- The increasing demand for managed security services to protect critical infrastructure against cyber threats
- The rising trend of Bring Your Own Device (BYOD) in enterprises, which is leading to an increase in the number of vulnerable endpoints
Scope Of The Report
Report Attributes
Report Details
Report Title
IoT Security Services Market Research Report
By Type
Professional, Managed
By Application
Healthcare, Information Technology (IT), Telecom, Banking, Financial Services, And Insurance (BFSI), Automotive, Others
By Companies
Cisco Systems, Intel Corporation, IBM Corporation, Symantec Corporation, Trend Micro, Digicert, Infineon Technologies, ARM Holdings, Gemalto NV, Kaspersky Lab, CheckPoint Software Technologies, Sophos Plc, Advantech, Verizon Enterprise Solutions, Trustwave, INSIDE Secure SA, PTC Inc., AT&T Inc.
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
185
Number of Tables & Figures
130
Customization Available
Yes, the report can be customized as per your need.
Global IoT Security Services Market Report Segments:
The global IoT Security Services market is segmented on the basis of:
Types
Professional, Managed
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Healthcare, Information Technology (IT), Telecom, Banking, Financial Services, And Insurance (BFSI), Automotive, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Cisco Systems
- Intel Corporation
- IBM Corporation
- Symantec Corporation
- Trend Micro
- Digicert
- Infineon Technologies
- ARM Holdings
- Gemalto NV
- Kaspersky Lab
- CheckPoint Software Technologies
- Sophos Plc
- Advantech
- Verizon Enterprise Solutions
- Trustwave
- INSIDE Secure SA
- PTC Inc.
- AT&T Inc.
Highlights of The IoT Security Services Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Professional
- Managed
- By Application:
- Healthcare
- Information Technology (IT)
- Telecom
- Banking
- Financial Services, And Insurance (BFSI)
- Automotive
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the IoT Security Services Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
IoT security services are a set of technologies and practices used to protect the data and devices connected to the internet of things. IoT security services can help protect against cyberattacks, unauthorized access, and data theft.
Some of the major players in the iot security services market are Cisco Systems, Intel Corporation, IBM Corporation, Symantec Corporation, Trend Micro, Digicert, Infineon Technologies, ARM Holdings, Gemalto NV, Kaspersky Lab, CheckPoint Software Technologies, Sophos Plc, Advantech, Verizon Enterprise Solutions, Trustwave, INSIDE Secure SA, PTC Inc., AT&T Inc..
The iot security services market is expected to grow at a compound annual growth rate of 16.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 IoT Security Services Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 IoT Security Services Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 IoT Security Services Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the IoT Security Services Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global IoT Security Services Market Size & Forecast, 2018-2028
4.5.1 IoT Security Services Market Size and Y-o-Y Growth
4.5.2 IoT Security Services Market Absolute $ Opportunity
Chapter 5 Global IoT Security Services Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 IoT Security Services Market Size Forecast by Type
5.2.1 Professional
5.2.2 Managed
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global IoT Security Services Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 IoT Security Services Market Size Forecast by Applications
6.2.1 Healthcare
6.2.2 Information Technology (IT)
6.2.3 Telecom
6.2.4 Banking
6.2.5 Financial Services
6.2.6 And Insurance (BFSI)
6.2.7 Automotive
6.2.8 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global IoT Security Services Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 IoT Security Services Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America IoT Security Services Analysis and Forecast
9.1 Introduction
9.2 North America IoT Security Services Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America IoT Security Services Market Size Forecast by Type
9.6.1 Professional
9.6.2 Managed
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America IoT Security Services Market Size Forecast by Applications
9.10.1 Healthcare
9.10.2 Information Technology (IT)
9.10.3 Telecom
9.10.4 Banking
9.10.5 Financial Services
9.10.6 And Insurance (BFSI)
9.10.7 Automotive
9.10.8 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe IoT Security Services Analysis and Forecast
10.1 Introduction
10.2 Europe IoT Security Services Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe IoT Security Services Market Size Forecast by Type
10.6.1 Professional
10.6.2 Managed
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe IoT Security Services Market Size Forecast by Applications
10.10.1 Healthcare
10.10.2 Information Technology (IT)
10.10.3 Telecom
10.10.4 Banking
10.10.5 Financial Services
10.10.6 And Insurance (BFSI)
10.10.7 Automotive
10.10.8 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific IoT Security Services Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific IoT Security Services Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific IoT Security Services Market Size Forecast by Type
11.6.1 Professional
11.6.2 Managed
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific IoT Security Services Market Size Forecast by Applications
11.10.1 Healthcare
11.10.2 Information Technology (IT)
11.10.3 Telecom
11.10.4 Banking
11.10.5 Financial Services
11.10.6 And Insurance (BFSI)
11.10.7 Automotive
11.10.8 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America IoT Security Services Analysis and Forecast
12.1 Introduction
12.2 Latin America IoT Security Services Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America IoT Security Services Market Size Forecast by Type
12.6.1 Professional
12.6.2 Managed
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America IoT Security Services Market Size Forecast by Applications
12.10.1 Healthcare
12.10.2 Information Technology (IT)
12.10.3 Telecom
12.10.4 Banking
12.10.5 Financial Services
12.10.6 And Insurance (BFSI)
12.10.7 Automotive
12.10.8 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) IoT Security Services Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) IoT Security Services Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) IoT Security Services Market Size Forecast by Type
13.6.1 Professional
13.6.2 Managed
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) IoT Security Services Market Size Forecast by Applications
13.10.1 Healthcare
13.10.2 Information Technology (IT)
13.10.3 Telecom
13.10.4 Banking
13.10.5 Financial Services
13.10.6 And Insurance (BFSI)
13.10.7 Automotive
13.10.8 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 IoT Security Services Market: Competitive Dashboard
14.2 Global IoT Security Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Cisco Systems
14.3.2 Intel Corporation
14.3.3 IBM Corporation
14.3.4 Symantec Corporation
14.3.5 Trend Micro
14.3.6 Digicert
14.3.7 Infineon Technologies
14.3.8 ARM Holdings
14.3.9 Gemalto NV
14.3.10 Kaspersky Lab
14.3.11 CheckPoint Software Technologies
14.3.12 Sophos Plc
14.3.13 Advantech
14.3.14 Verizon Enterprise Solutions
14.3.15 Trustwave
14.3.16 INSIDE Secure SA
14.3.17 PTC Inc.
14.3.18 AT&T Inc.
