QYResearchReports has released its report, “Global Internet of Things (IoT) Security Market 2022.” The study on the global Internet of Things (IoT) security market offers comprehensive and insights into growth drivers and restraints, prominent adoption trends, recent technology advances, promising avenues, and the imminent investment pockets. The study also offers insight into the share and size of key end-use segments and assesses the scope of key types of IoT security. The analysis evaluates the prevailing competitive landscape in regions such as European Union, Japan, U.S., Southeast Asia, Japan, China, and India.
The rapidly rising array of ransomware attacks in various parts of the world, coupled with growing complexity, is a defining trend driving the evolution of the IoT security market. The intensifying drive for IoT security hinges on significantly rising efforts to contain these attacks.
The surge in IoT botnets in recent years is a factor that could contribute to the burgeoning demand for IoT security in various end-use industries. The growing adoption of risk-based adaptive securities across enterprises in developing and developed regions is expected to catalyze the growth of the market, according to the study.
The IoT security market reportedly will also benefit from the expected exponential rise in machine learning technologies, arti?cial intelligence, and sensors in IoT framework in the years to come. This is expected to fortify the demand for a robust IoT security.
The report says that there is a lack of clarity in the scope of IoT deployments in several enterprises, which the authors expect to hurt the growth of the IoT security market. The reluctance of SMBs in investing in sophisticated security network based on end-to-end approach may further be a bottleneck in the widespread deployment, according to the study. However, the advent of effective encryption technologies and the relentless research and development activities to develop potential security for emerging threats in IoT devices are likely to unlock substantial prospects in the market.
The concerted efforts by stakeholders like IoT device manufacturers, system integrators, application developers, enterprises, operators, and consumers to adopt best practices in IoT security. This is likely to act a strong catalyst to the development of better products and solutions in the IoT security landscape.
Companies with a prominent presence in the global Internet of Things security market include Symantec Corporation, Cisco Systems, Inc., Infineon Technologies AG, CENTRI Technology Inc., TrustWave Holdings, Inc., TrustWave Holdings, Inc., AT&T Inc., Bitdefender, LLC, PTC Inc., Fortinet, Inc., IBM Corporation, RSA Security LLC, and Trend Micro, Inc.
About the author: Bhupendra Shirsath is an analyst with QYResearchReports. He has worked with industry specialists from Automotive and Transportation, Information Technology, Consumer Goods, Life Sciences, Semiconductor & Electronics and Energy & Power.
Edited by
Ken Briodagh
