DUBLIN, Nov. 26, 2021 /PRNewswire/ — The “Global IoT Security and Privacy Market by Infrastructure, Solution, Deployment and Industry Verticals 2021-2026” report has been added to ResearchAndMarkets.com’s offering.
This report assesses the current state of IoT security and privacy, analyzes current challenges, and evaluates potential opportunities. The report also looks at the need for security for IoT in different areas and identifies existing and needed solutions.
The report assesses the specific hardware and software solutions required to ensure IoT security and privacy. It also identifies market opportunities by security type across the ecosystem. The report also evaluates the impact of IoT security technologies on different industry verticals.
Select Report Findings
- The overall security in IoT market will reach $52.3 billion globally by 2026
- Distributed denial of service protection for IoT systems will reach $1.58 globally by 2026
- Driven largely by commercial retrofits, IoT security in smart buildings will reach $4.55 globally by 2026
- The largest deployment mode, cloud-based IoT security solutions will reach $30.33 billion globally by 2026
- Network security will remain the largest global component through 2026, greater than end-point or application security
IoT networks and systems often represent a multi-vendor, multi-nodal and distributed environment and are therefore more prone to cyberattacks by virtue of many points of attack. Major concerns include illegal capture and abuse of IoT data which includes users’ activities, personal health or financial information, location of assets (humans, equipment, vehicles, etc.), corporate and personal information.
Industrial IoT (IIoT) is an emerging category of IoT which has been appreciated worldwide for its usability in streamlining business with real time analysis. The devices and things used in IIoT are very special and specific to industry needs. For example, sensors used in oil wells and mines are uniquely processed to adapt and stay working in severe conditions such as high temperature, low pressure, etc.
Similar requirements could be in factories where devices, gateways and sensors will be connected to high temperature boilers to cold cutting machines. In IIoT sensors and devices are attached to many missions’ critical machines or tools that cannot afford to stop working and need to work continuously. These sensors and edge devices are designed in such a way that they should remain unmonitored and away from physical interference for years.
The analyst sees investments associated with securing IoT growing at a rapid pace throughout this decade. Their most recent studies indicate rapidly growing awareness among enterprise, industrial and government sectors about the importance of securing their products and applications from malicious attacks. Moreover, the will and budgetary commitment to take actions is increasing among market leaders.
IoT Security Market Drivers
- Convergence of IT and OT Security Policies
- Rapid changes in Infrastructure Technology
- Increased demand for connectivity
- Standardization of Network Security Policies
- Securing Mobile Device and Mobile Applications
- Securing Cloud
IoT Security Market Challenges
- Multivendor Nature of IoT Business
- Lack of Standard Security Practices
- IoT Devices are Already in the Market without much Security Measures
- Hackers are now more Professional in Behavior
- IoT is a Soft Target for Data Leaks and Privacy Breaches
- Data Theft and Privacy Breach in IoT will often go Long Unnoticed
- ARM Holdings
- AT&T Cybersecurity
- Broadcom (CA Technologies)
- Centri Technology
- Check Point Software Technologies
- Cisco Systems
- Digi International
- Dragos Security
- IBM Corporation
- Intel Security Group
- Karamba Security
- Newsky Internet
- Palo Alto Networks
- Sectigo Limited (Icon Labs)
- Siemens AG
- Trend Micro
- Trustwave Holdings
- Veridify Security
For more information about this report visit https://www.researchandmarkets.com/r/mi27uo
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SOURCE Research and Markets