Internet of Things (IoT) Security Market size to grow by USD 114.33 billion from 2022 to 2027, The use of wearables to monitor human health and the environment to be a major market trend - Technavio

NEW YORK, June 13, 2023 /PRNewswire/ -- The Internet of Things (IoT) security market size is set to grow by USD 114.33 billion from 2022 to 2027 and register a CAGR of 30.44%, according to Technavio's latest market research report. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by way of synthesis, and summation of data from multiple sources. Technavio offers an up-to-date analysis of the current global market scenario and the overall market environment. View Sample Report

The report also covers the following areas:

• Internet of Things (IoT) Security Market size
• Internet of Things (IoT) Security Market trends
• Internet of Things (IoT) Security Market industry analysis

Internet of Things (IoT) Security Market 2023-2027: Segmentation

The Internet of Things (IoT) security market is segmented by:

• End-user 
• Industrial Sector
• Commercial Sector
• Consumer Sector
• Deployment 
• On-premises
• Cloud
• Geography 
• North America
• Europe
• APAC
• Middle East And Africa
• South America

The market share growth by the industrial sector segment will be significant for overall market growth during the forecast period. This segment is reaping the benefits of IoT technology in terms of enhancing business productivity and gaining a competitive advantage. Machinery and devices are connected to the Internet using the software and the data that is generated and the insights gained into the production process are used for predictive maintenance and the optimization of performance on the factory floor. Hence, such factors drive the segment growth during the forecast period.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Some of the major vendors of the internet of things (IoT) security market include Allot Ltd., AT and T Inc., Atos SE, Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., ForgeRock Inc., Fortinet Inc., Hewlett Packard Enterprise Co., Infineon Technologies AG, Intel Corp., International Business Machines Corp., Microsoft Corp., Palo Alto Networks Inc., SecuriThings Inc., Sophos Ltd., Telefonaktiebolaget LM Ericsson, Thales Group, Trend Micro Inc., and Trustwave Holdings Inc.. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 15+ vendors operating in the market.
Vendor Offerings

• Allot Ltd. - The company offers internet of things (IoT) security solutions such as Allot Secure, Allot IoTSecure, Allot DDoS Secure.
• AT and T Inc. - The company offers internet of things (IoT) security solutions and strategic cybersecurity advisory services as well as highly secure, carrier grade connectivity for IoT, allowing businesses to authenticate end points, provide constant communications, and offer system integrity through technology based on 3GPP standards.
• Atos SE - The company offers internet of things (IoT) security solutions for IoT initiatives, covering both information technology and operational technology like sensors and PLCs.

Internet of Things (IoT) Security Market 2023-2027: Market Dynamics

Key Drivers

One of the key factors that drive the IoT security market growth is the exponential growth of Internet-connected and operated devices. The IoT technology is on the verge of gaining widespread use in the corporate sector. Also, according to a forecast by International Data Corporation (IDC), there will be 41.6 billion IoT devices in use in 2025, with the capacity to produce 79.4 zettabytes (ZB) of data.

Furthermore, the evolving technologies that underpin IoT are both the result of and a driver for its adoption. Additionally, various early adopters have gone beyond pilots to implement IoT solutions across their entire organization. Thus, IoT technologies have already spawned numerous ground-breaking applications in fields as diverse as Industry 4.0, smart cities, smart homes, connected autos, and e-health. Hence, such factors drive the growth of the market during the forecast period.

Major Trends

A major trend fueling the IoT security market growth is the use of wearables to monitor human health and the environment. Smartphones and tablets are the epicenters of mobile computing and communication. Mobile phones, when combined with the addition of various inbuilt sensors, provide enhanced features and developments that are expected to revolutionize a variety of social and economic areas.

For instance, social networking, environmental and surveillance monitoring, healthcare and well-being monitoring, and transportation are just a few examples. Hence, increasing demand for wearable health devices is expected to increase the demand for IoT solutions, which, in turn, is expected to boost the growth of the market in focus during the forecast period.

Significant Challenges

Increasing cybersecurity threats are one of the primary challenges hindering the growth of the IoT security market. By integrating the corporate network with industrial systems, IoT grants real-time access to operational data. Such integration allows end-users to leverage IoT capabilities such as predictive maintenance and smart analytics and exposes the industrial system to various cyber threats.

Moreover, the inclusion of industrial systems within the scope of IoT increases the risk of data theft. Furthermore, there are different anti-malware programs that promise to protect industrial systems against such cyberattacks. But such are different anti-malware programs that promise to protect industrial systems against such cyberattacks. Hence, such challenges hinder the growth of the market during the forecast period.

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• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Internet of Things (IoT) Security Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist Internet of Things (IoT) security market growth during the next five years
• Estimation of the Internet of Things (IoT) security market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the Internet of Things (IoT) security market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of Internet of Things (IoT) security market vendors

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Related Reports:
The cellular Internet of Things (IoT) market is estimated to grow at a CAGR of 23% between 2022 and 2027. The size of the market is forecast to increase by USD 8,073.13 million. This report extensively covers market segmentation by component (hardware and software), type (3G, 2G, 4G, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa). The rapid installation of cellular IoT modules in smart city infrastructure is notably driving the Cellular Internet of Things (IoT) market growth.

The 5G Internet of Things (IoT) Roaming market size is expected to increase by USD 1.58 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 42.48%. Furthermore, this report extensively covers the 5G IoT roaming market segmentation by end-user (consumer and enterprise) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The development of wireless technologies is one of the major drivers impacting the 5G IoT roaming market growth.

Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary ? Chart on Market Overview
• Exhibit 02: Executive Summary ? Data Table on Market Overview
• Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
• Exhibit 04: Executive Summary ? Chart on Market by Geography
• Exhibit 05: Executive Summary ? Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary ? Chart on Market Segmentation by Deployment
• Exhibit 07: Executive Summary ? Chart on Incremental Growth
• Exhibit 08: Executive Summary ? Data Table on Incremental Growth
• Exhibit 09: Executive Summary ? Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global internet of things (IoT) security market 2017 - 2021 
• Exhibit 18: Historic Market Size ? Data Table on global internet of things (iot) security market 2017 - 2021 ($ billion)

• 4.2 End-user Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size ? End-user Segment 2017 - 2021 ($ billion)

• 4.3 Deployment Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size ? Deployment Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size ? Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size ? Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers ? Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers ? Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants ? Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes ? Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry ? Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments 
• Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Industrial sector - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Industrial sector - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Industrial sector - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Industrial sector - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Industrial sector - Year-over-year growth 2022-2027 (%)

• 6.4 Commercial sector - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Commercial sector - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Commercial sector - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Commercial sector - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Commercial sector - Year-over-year growth 2022-2027 (%)

• 6.5 Consumer sector - Market size and forecast 2022-2027
• Exhibit 42: Chart on Consumer sector - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Consumer sector - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Consumer sector - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Consumer sector - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by End-user 
• Exhibit 46: Market opportunity by End-user ($ billion)
• Exhibit 47: Data Table on Market opportunity by End-user ($ billion)

7 Market Segmentation by Deployment

• 7.1 Market segments 
• Exhibit 48: Chart on Deployment - Market share 2022-2027 (%)
• Exhibit 49: Data Table on Deployment - Market share 2022-2027 (%)

• 7.2 Comparison by Deployment 
• Exhibit 50: Chart on Comparison by Deployment
• Exhibit 51: Data Table on Comparison by Deployment

• 7.3 On-premises - Market size and forecast 2022-2027
• Exhibit 52: Chart on On-premises - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Data Table on On-premises - Market size and forecast 2022-2027 ($ billion)
• Exhibit 54: Chart on On-premises - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on On-premises - Year-over-year growth 2022-2027 (%)

• 7.4 Cloud - Market size and forecast 2022-2027
• Exhibit 56: Chart on Cloud - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Data Table on Cloud - Market size and forecast 2022-2027 ($ billion)
• Exhibit 58: Chart on Cloud - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Cloud - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Deployment 
• Exhibit 60: Market opportunity by Deployment ($ billion)
• Exhibit 61: Data Table on Market opportunity by Deployment ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 91: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 95: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 South Korea - Market size and forecast 2022-2027
• Exhibit 99: Chart on South Korea - Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on South Korea - Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on South Korea - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on South Korea - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027
• Exhibit 103: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 104: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 105: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ billion)
• Exhibit 108: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 Allot Ltd. 
• Exhibit 115: Allot Ltd. - Overview
• Exhibit 116: Allot Ltd. - Product / Service
• Exhibit 117: Allot Ltd. - Key offerings

• 12.4 AT and T Inc. 
• Exhibit 118: AT and T Inc. - Overview
• Exhibit 119: AT and T Inc. - Business segments
• Exhibit 120: AT and T Inc. - Key news
• Exhibit 121: AT and T Inc. - Key offerings
• Exhibit 122: AT and T Inc. - Segment focus

• 12.5 Atos SE 
• Exhibit 123: Atos SE - Overview
• Exhibit 124: Atos SE - Business segments
• Exhibit 125: Atos SE - Key news
• Exhibit 126: Atos SE - Key offerings
• Exhibit 127: Atos SE - Segment focus

• 12.6 Broadcom Inc. 
• Exhibit 128: Broadcom Inc. - Overview
• Exhibit 129: Broadcom Inc. - Business segments
• Exhibit 130: Broadcom Inc. - Key news
• Exhibit 131: Broadcom Inc. - Key offerings
• Exhibit 132: Broadcom Inc. - Segment focus

• 12.7 Check Point Software Technologies Ltd.
• Exhibit 133: Check Point Software Technologies Ltd. - Overview
• Exhibit 134: Check Point Software Technologies Ltd. - Product / Service
• Exhibit 135: Check Point Software Technologies Ltd. - Key offerings

• 12.8 Cisco Systems Inc. 
• Exhibit 136: Cisco Systems Inc. - Overview
• Exhibit 137: Cisco Systems Inc. - Business segments
• Exhibit 138: Cisco Systems Inc. - Key news
• Exhibit 139: Cisco Systems Inc. - Key offerings
• Exhibit 140: Cisco Systems Inc. - Segment focus

• 12.9 Fortinet Inc. 
• Exhibit 141: Fortinet Inc. - Overview
• Exhibit 142: Fortinet Inc. - Product / Service
• Exhibit 143: Fortinet Inc. - Key offerings

• 12.10 Hewlett Packard Enterprise Co. 
• Exhibit 144: Hewlett Packard Enterprise Co. - Overview
• Exhibit 145: Hewlett Packard Enterprise Co. - Business segments
• Exhibit 146: Hewlett Packard Enterprise Co. - Key news
• Exhibit 147: Hewlett Packard Enterprise Co. - Key offerings
• Exhibit 148: Hewlett Packard Enterprise Co. - Segment focus

• 12.11 Intel Corp. 
• Exhibit 149: Intel Corp. - Overview
• Exhibit 150: Intel Corp. - Business segments
• Exhibit 151: Intel Corp. - Key news
• Exhibit 152: Intel Corp. - Key offerings
• Exhibit 153: Intel Corp. - Segment focus

• 12.12 International Business Machines Corp.
• Exhibit 154: International Business Machines Corp. - Overview
• Exhibit 155: International Business Machines Corp. - Business segments
• Exhibit 156: International Business Machines Corp. - Key news
• Exhibit 157: International Business Machines Corp. - Key offerings
• Exhibit 158: International Business Machines Corp. - Segment focus

• 12.13 Microsoft Corp. 
• Exhibit 159: Microsoft Corp. - Overview
• Exhibit 160: Microsoft Corp. - Business segments
• Exhibit 161: Microsoft Corp. - Key news
• Exhibit 162: Microsoft Corp. - Key offerings
• Exhibit 163: Microsoft Corp. - Segment focus

• 12.14 Palo Alto Networks Inc. 
• Exhibit 164: Palo Alto Networks Inc. - Overview
• Exhibit 165: Palo Alto Networks Inc. - Product / Service
• Exhibit 166: Palo Alto Networks Inc. - Key news
• Exhibit 167: Palo Alto Networks Inc. - Key offerings

• 12.15 Telefonaktiebolaget LM Ericsson 
• Exhibit 168: Telefonaktiebolaget LM Ericsson - Overview
• Exhibit 169: Telefonaktiebolaget LM Ericsson - Business segments
• Exhibit 170: Telefonaktiebolaget LM Ericsson - Key news
• Exhibit 171: Telefonaktiebolaget LM Ericsson - Key offerings
• Exhibit 172: Telefonaktiebolaget LM Ericsson - Segment focus

• 12.16 Thales Group 
• Exhibit 173: Thales Group - Overview
• Exhibit 174: Thales Group - Business segments
• Exhibit 175: Thales Group - Key news
• Exhibit 176: Thales Group - Key offerings
• Exhibit 177: Thales Group - Segment focus

• 12.17 Trustwave Holdings Inc. 
• Exhibit 178: Trustwave Holdings Inc. - Overview
• Exhibit 179: Trustwave Holdings Inc. - Product / Service
• Exhibit 180: Trustwave Holdings Inc. - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 181: Inclusions checklist
• Exhibit 182: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 183: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 184: Research methodology
• Exhibit 185: Validation techniques employed for market sizing
• Exhibit 186: Information sources

• 13.5 List of abbreviations 
• Exhibit 187: List of abbreviations

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