IoT Security Solutions: A Critical Factor for Enhancing Data Confidentiality, Integrity and Availability
The Internet of Things (IoT) Security Market Size was estimated at USD 2,221.0 million in 2019, and it is anticipated to grow to USD 20,776.1 million by 2027, at a CAGR of 32.3%.
98% of traffic from the Internet of Things devices is unencrypted, according to Palo Alto Networks, Inc.'s Unit 42 IoT Threat March 2020 report. This data shows that the majority of sensitive and private information on the network is exposed to cyber-attacks. It is critical to implement advanced security management of IoT networks and devices due to the growing benefits and exponential popularity of the Internet of Things.
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Information about the report:
● Forecast Timeframe: 2020-2027
● The starting year is 2019
● Market Size in 2019: USD 2,221.0 million
● The market size in 2028 will be USD 20,776.1 million
● CAGR: 32.3 %
● Segments Included: according to deployment type, application, enterprise type, sector, and geographic region
The Internet of Things (IoT) Security Market is a large and growing sector that covers various aspects, such as market size, market share, market segment, and industry. The market size is the total amount of money that service providers make when they sell their products to customers. Market share is the percentage of the market that is under the control of one or more providers. The term market segment refers to the different categories of applications based on their functions, features, or target users. The term industry refers to the different sectors or domains that use applications for their business operations or activities.
Analyses of the worldwide Internet of Things (IoT) Security Market are conducted across regions, end-user industries, and material types. The study includes a thorough examination of segments and their sub-segments with the aid of tabular and graphic depictions. The segmentation can help investors and market participants create plans based on the report's list of the segments with the highest revenue growth rates.
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