Internet Of Things (IoT) Security Market Analysis Highlights the Impact of COVID-19 (2020-2024) | Increasing Incidence of Cyberattacks to Boost the Market Growth | Technavio

Technavio has announced its latest market research report titled Global Internet of Things (IoT) Security Market 2020-2024 (Graphic: Business Wire).

LONDON--()--Technavio has been monitoring the Internet of things (IoT) security market and it is poised to grow by $ 80.94 bn during 2020-2024, progressing at a CAGR of almost 37% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts

Frequently Asked Questions:

  • What are the major trends in the market?
    Growing adoption of cloud-based services is a major trend driving the growth of the market.
  • At what rate is the market projected to grow?
    The year-over-year growth for 2020 is estimated at 32.83% and the incremental growth of the market is anticipated to be $ 80.94 bn.
  • Who are the top players in the market?
    Allot Ltd., Broadcom Inc., CENTRI Technology Inc., Cisco Systems Inc., Fortinet Inc, Gemalto NV, Infineon Technologies AG, Intel Corp, International Business Machines Corp, and Mocana Corp, are some of the major market participants.
  • What are the key market drivers and challenges?
    The increasing incidence of cyberattacks is one of the major factors driving the market.
  • How big is the North America market?
    The North America region will contribute 35% of the market share.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Allot Ltd., Broadcom Inc., CENTRI Technology Inc., Cisco Systems Inc., Fortinet Inc, Gemalto NV, Infineon Technologies AG, Intel Corp, International Business Machines Corp, and Mocana Corp. are some of the major market participants. The increasing incidence of cyberattacks will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Internet of Things (IoT) Security Market 2020-2024: Segmentation

Internet of Things (IoT) Security Market is segmented as below:

  • End-user
    • Industrial Sector
    • Commercial Sector
    • Consumer Sector
  • Geography
    • North America
    • Europe
    • APAC
    • MEA
    • South America

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43566

Internet of Things (IoT) Security Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The Internet of things (IoT) security market report covers the following areas:

  • Internet of Things (IoT) Security Market Size
  • Internet of Things (IoT) Security Market Trends
  • Internet of Things (IoT) Security Market Industry Analysis

This study identifies the growing adoption of cloud-based services as one of the prime reasons driving the Internet of things (IoT) security market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Internet of Things (IoT) Security Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist Internet of things (IoT) security market growth during the next five years
  • Estimation of the Internet of things (IoT) security market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the Internet of things (IoT) security market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of Internet of things (IoT) security market, vendors

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by End-user

  • Market segments
  • Comparison by end-user
  • Industrial sector - Market size and forecast 2019-2024
  • Commercial sector - Market size and forecast 2019-2024
  • Consumer sector - Market size and forecast 2019-2024
  • Market opportunity by end-user

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Competitive scenario
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Allot Ltd.
  • Broadcom Inc.
  • CENTRI Technology Inc.
  • Cisco Systems Inc.
  • Fortinet Inc.
  • Gemalto NV
  • Infineon Technologies AG
  • Intel Corp.
  • International Business Machines Corp.
  • Mocana Corp.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations 

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The Global Internet of Things (IoT) Security Market will grow by $ 80.94 bn during 2020-2024

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/