LONDON--(BUSINESS WIRE)--The growing need for regulatory compliance has resulted in the unprecedented growth of the global Internet of Things (IoT) security market, which is expected to post a CAGR of 55% from 2015-2019, says research firm Technavio.
IoT Security: About the Report
The IoT refers to the communication of multiple devices within a network, which enables data transmission between smart devices that are further connected to end-users' mobile devices. It is used to efficiently transmit a large volume of data between devices and people through networks.
“With so much information passing between people, governments are taking steps to secure networks from hackers and viruses by establishing strict regulatory frameworks,” says Faisal Ghaus, Vice President of Technavio.
The latest industry report by Technavio also emphasizes the emergence of smart cities as a major market growth driver.
“To ensure safe and secure communication between devices and their efficient functioning, it is important to maintain the security of the network infrastructure by implementing IoT security solutions,” says Ghaus.
IoT Security Market Scope and Calculation of Market Size
The new report covers the present scenario and growth prospects of the global IoT security market from 2015-2019. To calculate the market size, Technavio has considered the revenue generated from the sales of IoT security software solutions used for network security and management.
Key Information Covered in the Report:
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Key Vendors:
- Cisco Systems Inc.
- Infineon Technologies AG
- Intel Corp.
- Siemens AG
- Wurldtech Security Technologies Inc.
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Market Growth Drivers:
- Need for Regulatory Compliance
- For a full detailed list, view our report.
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Market Challenges:
- High Implementation Costs
- For a full detailed list, view our report.
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Market Trends:
- Emergence of Smart Cities
- For a full detailed list, view our report.
Technavio currently has more than 3000 market research reports on a huge range of topics, including 50+ reports on the IOT market:
If you are interested in more information, please contact our media team at media@technavio.com.
