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North America IoT Security Market Size, Share, Forecast 2031
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North America IoT Security Market Size, Share, Forecast 2031

Segments - North America IOT Security Market by 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), and Region - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Raksha Sharma
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Fact-checked by : V. Chandola
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Editor : Shruti Bhat

Upcoming | Report ID :ICT-SE-2709 | 4.8 Rating | 56 Reviews | 196 Pages | Format : PDF Excel PPT

Report Description


The North America IOT security market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 21.5% during 2023–2031. 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.

North America IOT Security Market Outlook

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.

  • Increasing number of IoT-enabled smart linked devices is projected to boost the market during the forecast period.

  • Rising instance of cyber security threats is anticipated to drive the market in the coming years.

  • Growing enterprises with wide adoption towards IoT security solutions and infrastructures is expected to boost the market.

  • Rapid growth of the large and medium industries is key factors fueling the market.

  • High maintenance cost is expected to hamper the market growth.

  • Resource constraints such as devices unable to integrate sophisticated firewalls or antivirus software act as main challenges that can restrict the market expansion in the coming years.

  • R&D investment and technological development in software is projected to create significant opportunities for the market players.

Scope of North America IOT Security Market Report

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

2022

Historic Data

2016–2021

Forecast Period

2023–2031

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)

North America IOT Security Market Segment Insights

The retail segment is projected to account for a major market share

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.

North America IOT Security Market End User Industry

The end-point security segment is expected to grow at a rapid pace

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.

The services segment is anticipated to expand at a substantial CAGR

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.

Segments

The North America IOT security market has been segmented on the basis of

End-user Industries

  • Government
  • Manufacturing
  • Automotive
  • Healthcare
  • Energy & Power
  • Retail
  • BFSI

Types of Security

  • Network Security
  • End-point Security

Solutions

  • Software
  • Services

Regions

  • North America

Key Players

Competitive Landscape

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.

North America IOT Security Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. IOT Security Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. IOT Security Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. IOT Security Market - Supply Chain
  4.5. Global IOT Security Market Forecast
     4.5.1. IOT Security Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. IOT Security Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. IOT Security Market Absolute $ Opportunity
5. Global IOT Security Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. IOT Security Market Size and Volume Forecast by Types
     5.3.1. Network Security
     5.3.2. End-point Security
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global IOT Security Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. IOT Security Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global IOT Security Demand Share Forecast, 2019-2026
7. North America IOT Security Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America IOT Security Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America IOT Security Market Size and Volume Forecast by Types
     7.4.1. Network Security
     7.4.2. End-point Security
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America IOT Security Demand Share Forecast, 2019-2026
8. Latin America IOT Security Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America IOT Security Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America IOT Security Market Size and Volume Forecast by Types
     8.4.1. Network Security
     8.4.2. End-point Security
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America IOT Security Demand Share Forecast, 2019-2026
9. Europe IOT Security Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe IOT Security Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe IOT Security Market Size and Volume Forecast by Types
     9.4.1. Network Security
     9.4.2. End-point Security
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe IOT Security Demand Share Forecast, 2019-2026
10. Asia Pacific IOT Security Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific IOT Security Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific IOT Security Market Size and Volume Forecast by Types
     10.4.1. Network Security
     10.4.2. End-point Security
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific IOT Security Demand Share Forecast, 2019-2026
11. Middle East & Africa IOT Security Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa IOT Security Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa IOT Security Market Size and Volume Forecast by Types
     11.4.1. Network Security
     11.4.2. End-point Security
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa IOT Security Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global IOT Security Market: Market Share Analysis
  12.2. IOT Security Distributors and Customers
  12.3. IOT Security Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Hewlett Packard Enterprise Company
     12.4.2. Cisco Systems Inc.
     12.4.3. Symantec Corporation
     12.4.4. IBM Corporation
     12.4.5. Intel Corporation (Intel Security)

Methodology

Our Clients

The John Holland Group
Nestle SA
Siemens Healthcare
Honda Motor Co. Ltd.
General Mills
General Electric
Microsoft
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