The North America IOT security market size is expected to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to growing enterprises with wide adoption towards IoT security solutions and infrastructures.
The Internet of Things (IoT) is a fast-growing network of electronic devices with IP addresses or physical addresses for Internet access, allowing communication between these IoT devices and other Internet-connected systems through the network. IoT extends Internet connectivity beyond traditional devices like laptops, PCs, smartphones, and tablets to a wide range of common objects.
These goods make use of embedded technology and can connect with the outside world through the Internet. At the same hand, this connectivity creates some risks, such as granting unauthorized access to persons or hackers who could use the primary controlling device to get into the organization's infrastructure.
Moreover, because of internet-based connection, IoT devices offer a large attack surface than conventional technologies. While this accessibility is immensely beneficial for hackers it also allows interfering with equipment resulting into phishing and other hacking tactics attacks.
In December 2016, Dyn Inc., a DNS infrastructure company based in the United States, experienced a Distributed Denial of Service (DDoS) attack from the Mirai botnet, a malware that used a network of interconnected IoT devices to conduct cyber-attacks, causing Internet service disruption across the United States.
The report on the North America IOT security market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
North America IOT Security Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
End-user Industries (Government, Manufacturing, Automotive, Healthcare, Energy & Power, Retail, and BFSI), Types of Security (Network Security, and End-point Security), Solutions (Software, and Services) |
Regional Scope |
North America |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Hewlett Packard Enterprise Company; Cisco Systems Inc.; Symantec Corporation; IBM Corporation; Intel Corporation (Intel Security) |
Based on end-user industries, the North America IOT security market is divided into government, manufacturing, automotive, healthcare, energy & power, retail, and BFSI. The retail segment is expected to hold a key share of the market during the forecast period owing to rising smart home product adoption and governments in the area are promoting the adoption of smart cities.
In terms of types of security, the North America IOT security market is bifurcated into network security and end-point security. The end-point security segment is expected to represent a key share of the market in the coming years owing to increasing demand for securing entry points of end-user devices such as desktops, laptops, and mobile devices.
On the basis of solutions, the North America IOT security market is bifurcated into software, and services. The services segment is expected to constitute a key share of the market in the coming years owing to IoT-based solutions gain popularity, organizations around the world are spending extensively in the security of these systems.
The North America IOT security market has been segmented on the basis of
Key players competing in the North America IOT security market include Hewlett Packard Enterprise Company; Cisco Systems Inc.; Symantec Corporation; IBM Corporation; Intel Corporation (Intel Security)
Some of these players are up for several market strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance,
On September 2019, Zing box, an IoT cybersecurity business acquired by Palo Alto Networks Inc. Palo Alto Networks' offering of IoT security through its Next-Generation Firewall and Cortex platforms was accelerated as a result of this purchase.
The North America IOT security market has been segmented on the basis of
Key players competing in the North America IOT security market include Hewlett Packard Enterprise Company; Cisco Systems Inc.; Symantec Corporation; IBM Corporation; Intel Corporation (Intel Security)
Some of these players are up for several market strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance,
On September 2019, Zing box, an IoT cybersecurity business acquired by Palo Alto Networks Inc. Palo Alto Networks' offering of IoT security through its Next-Generation Firewall and Cortex platforms was accelerated as a result of this purchase.
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