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TMCNet:  Internet of Things (IoT) Security: North American Markets to 2023

[December 31, 2018]

Internet of Things (IoT) Security: North American Markets to 2023

NEW YORK, Dec. 31, 2018 /PRNewswire/ --

Report Scope:
This report provides an in-depth analysis of the North American Internet of Things (IoT) security markets and its segments, including solution, type, end-user application and country.It discusses the different segments of IoT security solutions to derive specific market estimations.

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The type segment includes hardware and software components.Type of securities includes device layer security, network layer security, application and cloud layer security, threat detection and management solutions and security platforms.

In end-user application segment, commercial end-user applications include automotive, healthcare and smart cities.Consumer applications include smart homes and smart wearables.

The report also discusses strategies adopted by major players in the North American Internet of Things (IoT) security markets.

Market size is provided for 2017 (considered as base year), 2018 and 2023. Estimated values are based on manufacturers' total revenues.

Report Includes:
- 12 data tables
- An in-depth overview and industry analysis of North American markets for security technologies for the Internet of Things (IoT)
- Analyses of global market trends, with data from 2017 to 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Quantification of the market potential for North American markets for security technologies for the IoT applications by solution, type, end user, application industry, and country
- A look at key trends in the market, including industry trends, fast growth in vulnerability, IT security, and adoption of managed security service providers
- Descripive study with focus on various organizations and inorganic market development strategies for developing advanced security solutions and client networks through product innovation, business expansion, partnerships, and mergers and acquisitions strategies

- Technological assessment of the competitive landscape and company profiles of major IoT security solution providers, including BAE Systems Inc., Cisco Systems Inc., Infineon Technologies, Intel Corp., Symantec, Corp. and Thales e-Security Inc.

The North American IoT security markets are experiencing good market growth rate, which is creating intense competition.Consequently, many cloud and managed service providers are facing intense competition from in-house IT teams for IoT security solution deployment.

Many upcoming IoT projects intend to implement in-house security systems to implement various security solutions.This may work well in the proof-of-concept stage, but in the longer term, many in-house solutions cannot scale to meet the demands of IoT projects.

IoT solution providers who can benefit such companies with purpose built, modular solutions are using SaaS model. This is expected to be best prepared to meet the demand for
IoT security as the IoT market matures and the need for security increases.

In recent years, the IoT security markets in the U.S. has benefitted solution developers, which should drive the development and penetration of new technologies and solutions. Solution and service providers should be attuned to new developments and identify which new solutions would fit their IoT portfolio. During the forecast period, a considerable amount of this activity is expected in the U.S. market.

Surging demand for cloud-based enterprise applications is a key driver of the North American IoT security markets.Cloud-based solutions depend on internet connectivity to function in a hosted environment.

As a result, the risks of cyberattacks and other threats are constant, which is a growth factor for cyber security providers.Other growth factors include the growth in digitalization and IoT security spending, and the increasing demand for security solutions for connected cars and connected healthcare services.

Moreover, the industry has been seeing various partnerships and new product launches in IoT security field in the region. Some of the major players who are involved in these strategic
developments are Sophos, Thales eSecurity, Infineon, BAE Systems, and CENTRI Technology.

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