MarketResearchReports.biz has added a new research report to its repository. The report, titled “Global Internet of Things Security Market 2016-2020,” offers a comprehensive study on the global Internet of Things (IoT) security market and projects the market to take a leap at a CAGR of 55.01% during the period between 2016 and 2020. The report analyzes the present scenario of the market and presents insights into the key factors impacting the growth of the market. The global Internet of Things security market has been studies across some of the key regions. The report further profiles some of the major vendors operating in the market.
Internet of Things, better known as IoT refers to the communication between connected devices within a network. Data transfer taking place between two smart devices such as thermostats and sensors, can be further connected to individual mobile devices. Efficiency of IoT depends on the interconnection between communication services, hardware devices, and IT and software devices. IoT is very helpful in effective management and remote monitoring of numerous interconnected devices and hence, is widely used across smart homes, smart healthcare, smart transportation, and others.
The report states that the recent advances in sensor technology have fuelled the growth of the global IoT security market. Innovations in material sciences have led to the introduction of different types of sensors. Nowadays, sensor technologies have developed in terms of performance, miniaturization, cost, and energy consumption. Sensors help boost remote monitoring, enterprise mobility, and remote system control across industries. All these factors will lead to the increased adoption of IoT security. However, high total cost of ownership of IoT security solutions will negatively impact the growth of the market during the forecast period. The emergence of integrated security solutions will open new opportunities for the market in the near future.
In terms of end-use industries, the report segments the global IoT security market into healthcare, automotive, and utilities. During the forecast period, the utilities sector is expected to drive the demand from the market with highest adoption of IoT security solutions. Extensive implementation of smart meters and IoT for utility management systems such as gas, energy, water, and oil will contribute towards the growth of the market.
The report studies the global IoT security market across some of the key regions such as the Americas, EMEA, and APAC. The report takes into consideration the various micro- and macro-economic factors impacting the growth of the market across each of the regions.
Describing the competitive landscape, the report profiles some of the major vendors in the global IoT security market such as Symantec, Infineon Technologies, Cisco Systems, Intel, Broadcom, Axeda Machine Cloud, Digi International, Ericsson, Fortinet, Eurotech, IBM, Gemalto, Kore Wireless, Nokia, NetComm Wireless, Palo Alto Networks, Numerex, Rockwell Automation, Sierra Wireless, Secure Crossing, Systech Solutions, Sophos, Tofino, Telit, and Ventus Wireless.
With an increase in the number of 2G, 3G, and 4G networks, threat to data has increased. Increase in sophisticated and complex threats and hacking activities are expected to affect IoT security. IoT security solutions comprise hardware, software products, and managed security services that are used to monitor, detect, and prevent unauthorized access, misuse, or malfunction, or to disable/destroy a computer network. This provides end-users with a secure platform that will help them perform critical tasks.
Low power wide area (LPWA) IoT technologies in unlicensed spectrum are growing in coverage and adoption, while standardized technologies for use in licensed spectrum are to become available later this year. The benefits of low cost, low power and broad coverage (including indoor) address a wide range of different application requirements which cellular, short range wireless and other connectivity options cannot match. Therefore growth is forecast to be very high. A number of proprietary LPWA technologies are available today, with deployments widening.
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