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Global IoT Security Market to Reach $29 Billion by 2022: Analysis By Component, Type, Solution, Service & Application Area - Research and Markets

[July 24, 2017]

Global IoT Security Market to Reach $29 Billion by 2022: Analysis By Component, Type, Solution, Service & Application Area - Research and Markets

The "Internet of Things (IoT) Security Market by Type, Solution, Service, Application Area, and Region - Global Forecast to 2022" report has been added to Research and Markets' offering.

The IoT security market size is expected to grow from USD 6.62 billion in 2017 to USD 29.02 billion by 2022, at a CAGR of 34.4% from 2017 to 2022.

The growing instances of ransomware attacks on IoT networks, mandates the critical need for reliable IoT security solutions. IoT security is gaining importance due to increasing IoT deployments and thereby growing vulnerability of the network and devices to various cyber-attacks such as ransomware attacks. Today IoT has managed to be an integral part of day to day life and hence security aspect associated with it is important. Organizations with IoT deployments are implementing optimum security mechanisms to ensure confidentiality of the data. Today IoT security is important not only for data security of enterprises but also for crucial enities such as human lives and national intelligence.

Installation and integration services play major role in ensuring security of the IoT network which comprises of numerous IoT devices, sensors and actuators by implementing security measures to system. Integration service providers help commercial clients implement a secure network across the deployed IoT system by integrating and ensuring that IoT security solutions are in line with the business processes.

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