Dec 19, 2022

This report assesses the current state of IoT security and privacy, analyzes current challenges, and evaluates potential opportunities. The report assesses the need for security for IoT in different areas and identifies existing and needed solutions. The report also assesses the specific hardware and software solutions required to ensure IoT security and privacy. It also identifies market opportunities by security type across the ecosystem. The report also evaluates the impact of IoT security technologies on different industry verticals. IoT networks and systems often represent a multi-vendor, multi-nodal and distributed environment and are therefore more prone to cyberattacks by virtue of many points of attack. Major concerns include illegal capture and abuse of IoT data which includes users' activities, personal health or financial information, location of assets (humans, equipment, vehicles, etc. ), corporate and personal information. Industrial IoT (IIoT) is an emerging category of IoT which has been appreciated worldwide for its usability in streamlining business with real time analysis. The devices and things used in IIoT are very special and specific to industry needs. For example, sensors used in oil wells and mines are uniquely processed to adapt and stay working in severe conditions such as high temperature, low pressure, etc. Similar requirements could be in factories where devices, gateways and sensors will be connected to high temperature boilers to cold cutting machines. In IIoT sensors and devices are attached to many missions' critical machines or tools that cannot afford to stop working and need to work continuously. These sensors and edge devices are designed in such a way that they should remain unmonitored and away from physical interference for years. The analyst sees investments associated with securing IoT growing at a rapid pace throughout this decade. Their most recent studies indicate rapidly growing awareness among enterprise, industrial and government sectors about the importance of securing their products and applications from malicious attacks. Moreover, the will and budgetary commitment to take actions is increasing among market leaders. Select Report Findings Distributed denial of service protection for IoT will reach $1.7B globally by 2027 Cloud-based IoT security and privacy solutions will be a $41.2B market globally by 2027 Driven by commercial retrofits, IoT security in smart buildings will be $5.3 globally by 2027 Key Topics Covered: 2.1.1 Functional Structure 2.2 Cybersecurity Threat 2.4 IoT Threat Detection Method and Concern 2.5 IoT Security Market Driver 2.5.1 Convergence of IT and OT Security Policies 2.5.2 Rapid changes in Infrastructure Technology 2.5.3 Increased demand for connectivity 2.5.4 Standardization of Network Security Policies 2.5.5 Securing Mobile Devices and Mobile Applications 2.5.6 Securing Cloud 2.6.1 Multivendor Nature of IoT Business 2.6.2 Lack of Standard Security Practices 2.6.3 IoT Devices are Already in the Market without much Security Measures 2.6.4 Hackers are now more Professional in Behavior 2.6.5 IoT is a Soft Target for Data Leaks and Privacy Breaches 2.6.6 Data Theft and Privacy Breach in IoT will often go Long Unnoticed 2.7 Solutions for Securing IoT 2.8 Data Management and IoT Data Security 2.9 Cloud Data Management 2.11 IoT Value Chain 5.1 Global IoT Security and Privacy Market 2022 - 2027 5.1.1 Global IoT Security and Privacy Market by Segment 5.1.2 Global IoT Security and Privacy Market by Hardware Solution 5.1.3 Global IoT Security and Privacy Market by Software Solution 5.1.4 Global IoT Security and Privacy Market by Service 5.1.4.1 Global IoT Security and Privacy Market by Professional Service 5.1.5 Global IoT Security and Privacy Market by Security Category 5.1.6 Global IoT Security and Privacy Market by Industry Vertical 5.1.7 Global IoT Security and Privacy Market by IoT Sector 5.1.7.1 Global Enterprise IoT Security and Privacy Market by Enterprise Type 5.1.8 Global IoT Security and Privacy Market by Deployment 5.2 Regional IoT Security and Privacy Market 2022 - 2027 5.2.1 IoT Security and Privacy Market by Region 6. Conclusions and Recommendations Contacts