M2M Network Security Market is Projected to Grow at a Striking CAGR of Over 26% Through 2021: Technavio

Technavio has published a new report on the global M2M network security market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--Technavio’s latest report on the global M2M network security market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

Amit Sharma, a lead analyst from Technavio, specializing in research on IT security sector, says, “The number of M2M applications has increased across various industries, such as healthcare, retail, automotive, energy and utilities, and oil and natural gas, triggering the demand for M2M network security.”

Sensor technology in M2M enables industries of all type to navigate the continuous flow of data for better decision-making, improve operational efficiency, and increase productivity. Increased deployment of high-speed networks worldwide plays a significant role in driving the market growth. With the increase in the number of connected devices, it is difficult for organizations to monitor, manage, and maintain data being transmitted through wired and wireless networks.

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The top three emerging trends driving the global M2M network security market according to Technavio ICT research analysts are:

Increased demand for M2M in consumer electronics

M2M systems were mainly used by businesses and public organizations, but now they are used more widely in smart homes, different fitness gadgets, for tracking goods and assets, and in the entertainment sector. As new technologies and IoT ecosystem evolve, gadgets and devices will be affordable for everyone.

IoT allows entertainment gadgets to be constantly connected to the Internet, which means that the users can access all types of media and up-to-date content. Thus, a huge number of gadgets and devices being used in conjunction with the Internet for easy data transmission leads to more security breaches,” according to Amit.

Increase in the number of cyberattacks on M2M networks

With the expansion of digital lives and M2M solutions at a faster pace, an urgent need has emerged to secure these solutions and ensure the privacy and integrity of the data they communicate. Cyberattacks in the M2M space have been low because of the lack of intelligence about the networks.

The rise in end-to-end communication from modules to management platforms is increasing the probability of M2M networks being hacked. This increases the importance of network security products with customers becoming more aware and conscious of potential cyberattacks.

Enhanced healthcare facilities with introduction of M2M

M2M applications are being used extensively in the healthcare sector because they facilitate efficient management of patient information and provide improved medical facilities. In India, Bangalore-based Manipal Hospitals give pregnant women a wearable device that is paired with a cellphone application.

Frequent real-time monitoring offered by smart devices reduces the need for patients to visit clinics. Hospitals have central monitoring systems for nurses, which give them a real-time overview of patients and their health statistics. Regular use of wearable devices by patients enables early intervention by doctors.

The key vendors are as follows:

  • Cisco Systems
  • Gemalto
  • KORE Wireless
  • Numerex
  • PTC

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio’s latest report on the global M2M network security market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com