SAN FRANCISCO, CA, USA, October 8, 2021 /EINPresswire.com/ – Recently, the Internet of Things (IoT) is gradually moving from its centralized structure to the complex network of various decentralized intelligent devices. This decentralization is resulting in an increased demand for data security and finally increases the opportunities for growth in the IoT security market.
The increasing number of data transfers to the IoT has increased the risk of server or network manipulation, data falsification, identity theft, IP theft, and device manipulation. This growing risk to cyber security is estimated to increase growth opportunities in the IoT security market.

By type, the IoT security market is divided into application security, network security, cloud security, and endpoint security. Depending on the application, the market can be divided into retail, logistics, transportation, information technology and telecommunications, defense, government, energy and services, manufacturing and banking, financial services and insurance (BFSI).

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IoT Security Market – Top Trends

The advent of various technologies, for example, the cloud has led to a different threat to data from cybercrime. The growing popularity of social media platforms has also resulted in vulnerabilities to data theft and identity theft. So various firms are constantly making efforts to develop stronger platforms to combat cyber threats. This initiative by key players is estimated to increase growth opportunities in the IoT security market.

The productivity of business enterprises has increased with the spread of various concepts, such as bring your computer (BYOPC), bring your device (BYOD) and bring your phone (BYOP). But at the same time, these concepts are also posing threats to cyber security. Moreover, the growing application of tablets, laptops and smartphones is also creating growth opportunities in the IoT security market. Further, various organizations and enterprises are making efforts for more effective security solutions. All of these initiatives are expected to boost opportunities in the IoT security market.

Lack of knowledge about the benefits and availability of IoT security solutions is predicted to hinder market expansion opportunities. But growing demands for data security have resulted in strict wording of laws. In addition, various government organizations are making efforts for regulatory compliance. Due to these factors, the IoT security market is projected to experience significant growth opportunities.

IoT Security Market – Competitive Dynamics and Key Developments

Leading IoT players in the education market are adopting strategies such as collaborations, partnerships, agreements, launching new and other products to increase growth opportunities.

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Some of the key players in the IoT security market are:
IBM Corporation
ARM Holdings
Hewlett Packard Development Company LP
Cisco Systems, Inc.
Symantec Corporation,
Infineon Technologies
Intel Corporation
Sophos Plc

IoT Security Market – Regional Assessment

The IoT security market is widespread in various geographical regions including North America, Latin America, Europe, Asia Pacific, and Middle East & AfricaWith Among these, North America the region is projected to have a significant share of market revenues. Due to the increasing deployment of various IoT devices in different countries and areas, the market is projected to increase expansion opportunities. Moreover, the implementation of the regulatory framework in the region is also driving opportunities for growth in the IoT security market in North America Region. For example, the implementation of various laws such as the Health Insurance Portability and Accountability Act (HIPPA) and the payment card industry data security standard (PCI DSS) is driving growth opportunities in the regional market.

The unregulated use of the Internet, the increase of the mobile workforce and the increase of the number of business organizations are strengthening the opportunities for growth in the IoT security market in Asia Pacific Region. New national security policies, social transformation and economic expansion are some of the main reasons that are projected to drive growth in the IoT security market in Asia Pacific Region.

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