The report presents an in-depth assessment of the North America Internet Of Things (IoT) Security including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Global North America Internet Of Things (IoT) Security investments from 2019 till 2023.
The North American IoT security market was valued at USD 136.56 million in 2017, and it is expected to reach a value of USD 588.31 million by 2023, at a CAGR of 27.56%, over the forecast period (2019 – 2023).
Top Companies in the North America Internet Of Things (IoT) Security Market: Symantec Corporation, IBM Corporation, Check Point Software Technologies, Intel Corporation, HP Enterprise Company, FireEye Inc., Infineon Technologies AG, Trustwave Holdings, Gemalto NV, AT&T Inc., and Palo Alto Networks Inc., and others.
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Growing Number of Data Breaches
North America has made significant progress in the adoption of IoT, particularly in the manufacturing and automotive sectors. However, the increasing number of data breaches has led to the demand for IoT security solutions. Cloud services are experiencing high adoption, due to the demand for IoT. This rise in the use of cloud systems, across various verticals, has increased the vulnerabilities of these systems to data breaches. According to Kaspersky, in 2017, the average cost of a data breach in North America is USD 1.3 million for large enterprises and USD 117,000 for small and medium-sized businesses (SMBs). These factors are expected to be instrumental in driving the growth of the North American IoT security market.
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End-point Security Solutions to Witness the Fastest Growth
With rapid adoption of IoT, the demand for strict regulations and security packages to protect confidential data across different verticals, such as government, banking, retail, manufacturing, among others, is increasing, and is expected to drive the growth of the end-point security market. Further, the growing adoption of various cloud applications, with the deployment of IoT, leads to many organizations opting for cloud security solutions. According to The Center for Strategic and International Studies (CSIS), a United States based think tank, cybercrimes lead to an annual loss of more than USD 445 billion, globally. Some of the other major statistics from the same think tank states- 40 million US citizens lost their personal data to hackers, 54 million people were affected by the same in Turkey, 16 million in Germany and more than 20 million in China. These cyberattacks have pushed endpoint security vendors to come up with newer perspectives to deal with increasing security threats to their IoT devices.
Key Developments in the Market
August 2018 – Cisco acquired Observable Networks. This acquisition was aimed at diversifying Ciscos security portfolio in cloud security capabilities, and providing security support and compliance for applications deployed on public cloud platforms, such as Amazon Web Services (AMZN) and Microsoft (MSFT) Azure.
November 2018 – IBM acquired Agile 3 Solutions, a San Francisco-based company, which develops software used by C-Suite and senior executives, to better visualize, understand, and manage risks associated with the protection of sensitive data. The acquisition is aimed at complementing the companys security solutions across cloud and IoT platforms.
January 2018- IBM partnered with Maersk, global logistics, a transport leader, to use blockchain technology to create a digitized global trade platform, and create a more efficient and secure process for conducting global trade. The companies also aimed at tapping artificial intelligence (AI), Internet of Things (IoT), and analytics technologies to enhance the movement and tracking of goods digitally across the world.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: North America Internet Of Things (IoT) Security Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
Finally, North America Internet Of Things (IoT) Security Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. This report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
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