Assessment of COVID-19's Effect on Global Internet Of Things (IoT) Security Market 2020-2024

By: Technavio
ELMHURST, Ill. - July 9, 2020 - PRLog -- The Internet of Things (IoT) security market and it is poised to grow by USD 80.94 billion during 2020-2024, progressing at a CAGR of 37% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Allot Ltd., Broadcom Inc., CENTRI Technology Inc., Cisco Systems Inc., Fortinet Inc, Gemalto NV, Infineon Technologies AG, Intel Corp, International Business Machines Corp, and Mocana Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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The increasing incidence of cyberattacks has been instrumental in driving the growth of the market.
Internet of Things (IoT) Security Market 2020-2024: Segmentation
Internet of Things (IoT) Security Market is segmented as below:
• End-user
o Industrial Sector
o Commercial Sector
o Consumer Sector
• Geographic Landscape
o North America
o Europe
o South America

Internet of Things (IoT) Security Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The Internet of things (IoT) security market report covers the following areas:
• Internet of Things (IoT) Security Market Size
• Internet of Things (IoT) Security Market Trends
• Internet of Things (IoT) Security Market Industry Analysis
This study identifies the growing adoption of cloud-based services as one of the prime reasons driving the Internet of Things (IoT) security market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Request for Technavio's latest reports on directly and indirectly impacted markets. Market estimates include pre- and post-COVID-19 impact on the Internet of Things (IoT) Security Market Download free sample report-

Tags:Internet of Things security
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