Global IoT Security Market Poised to Ascend from USD 55.6 Million in 2014 to USD 464 Million by 2020 – MarketResearchStore.Com

Mark Westlake, Founder
Apr. 26, 2016 06:19AM EST

Deerfield Beach, FL, April 26, 2016 (GLOBE NEWSWIRE) -- Zion Research has released a new report titled “IoT Security Market for Utilities, Automotive, Healthcare and Other End-users: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 - 2020”. According to the report, global IoT security market was valued at USD 55.6 million in 2014, is anticipated to reach around USD 464 million in 2020, growing at a CAGR of 42.4% between 2015 and 2020.

Recently, transition from closed networks to enterprise IT networks to the public Internet is accelerating at rapid pace. IoT security involves protection of connected devices and networks in the Internet of things (IoT). The IoT security helps to safeguard confidential data carried by network in efficient manner. In various industries ability to connect, communicate and distantly administer number of automated devices and networks using Internet has become persistent. Due to commercialization of the Internet, safety and security concerns extended to cover financial transactions, personal privacy, and the risk of cyber theft. The Internet of Things is advanced from the combination of, internet protocols, wireless technologies and micro-electromechanical systems.

Browse the full "IoT Security Market for Utilities, Automotive, Healthcare and Other End-users: Global Industry Perspective, Comprehensive Analysis, Size, Share, Trends, Segment and Forecast 2014-2020" report at http://www.marketresearchstore.com/report/iot-security-market-for-utilities-automotive-healthcare-and-z37210

Effective data transmission with help of IoT is used by different enterprises, retail stores, activities, hospitals and manufacturing industries. Increasing use of IoT by several enterprises is projected to grow the IoT security market in the coming years. Rising requirement for a secure and convenient lifestyle among consumer is driving fast development of the IoT security market globally. Nevertheless, several developing countries are not aware of the cyber attacks and resulting drawbacks based on IoT which hampers the growth of IoT security market in these regions. Unlike several evolving IT and networking technologies, IoT would encounter various barriers to adoption. Different factors such as budget priorities, traditional inertia, and risk aversion would prevent some players from adopting IoT in the coming years. Cloud-based security solutions help to minimize installation and maintenance costs thereby offering potential opportunities for the IoT security market growth.

IoT security market finds application in different areas such as utility or services, building & home automation, automotive, and healthcare among others. The utilities application was the leading segment of global IoT security market, accounting for a 37.95% market share in 2014. Rising application of IoT in various automotives resulted into major share of automotive segment in global IoT security market. The others application segment comprises of retail, manufacturing, and transportation. Healthcare is also expected to emerge as attractive segment for different applications including patient information management and security.

Browse Market Tables and 35 Figures spread through 76 Pages and an in-depth TOC on “IoT security Market - Global Size, Shares, Trends, Segment & Forecast to 2020”

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On the basis of geography, global IoT security market has been segmented into regions such as Americas, EMEA, and Asia Pacific. Americas is expected to lead the overall market on the basis of rapid technological advancements. This region accounted major market share of 35.28% of global IoT security market in 2014.

IoT security market is expected to remain competitive with the presence of a large number of providers. Cisco System, Infineon Technologies, Intel, Siemens are the major service providers in this industry. Some other players operating in IoT security market includes in IoT security market include Alcatel-Lucent, Broadcom, Numerex, Sophos, Ventus Wireless and IBM among others.

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This report segments the global Imarket as follows:

Global IoT security Market: End-user Segment Analysis

  • Utilities
  • Automotive
  • Healthcare
  • Others

Global IoT security Market: Regional Segment Analysis

  • Americas (North America and Latin America)
  • Europe, Middle East and Africa (EMEA)
  • Asia Pacific

Browse IoT Security Market Press Release:http://www.marketresearchstore.com/news/global-iot-security-market-is-expected-to-reach-69

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