IoT Security Market Size & Share to See Modest Growth Through 2029

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IoT Security Market Overview:

The IoT Security Market research provides a full competition picture, including market share and company profiles of the major players in the worldwide industry. The scope of the research covers a complete examination of the IoT Security Market, as well as the causes for variances in the industry's growth in different areas.

Expected Revenue Growth:

IoT Security Market size was valued at US$ 14.89 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 22.1% through 2022 to 2029, reaching nearly US$ 73.60 Bn.

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IoT Security Market Scope:

To locate and collect material appropriate for this study, this research study makes considerable use of secondary sources, directories, and databases such as annual reports, press releases, journals, corporate websites, and databases.

This IoT Security market report covers new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographies, and product approvals, product launches. To learn more about Maximize Market Research window sensors market, please contact us for an Analyst Brief; our experts will assist you in making an informed market choice to achieve your goals.

IoT Security Market Segmentation:


by Component

• Solutions
• Services

The market is divided into Solutions and Services based on the Component. By 2029, the solutions category is anticipated to have the biggest market shares. Any IoT network must be secure in order to protect data privacy and grant authorised users access to connected devices. IoT security must be upheld in accordance with the industry in which it is employed given the growing use of IoT across a number of sectors.

by Type

• Network Security
• Endpoint Security
• Application Security
• Cloud Security
• Other Security Types


The market is divided into Network Security, Endpoint Security, Application Security, Cloud Security, and Other Security Types based on the kind of security. During the projected period of 2022-2029, the network security segment is anticipated to expand quickly at a CAGR. The networking component of the IoT ecosystem is its skeleton, and the expansion of network security is largely due to the proliferation of network protocols. Wireless communication, gateways, and remote access are all included under network security.

by Application Area

• Smart Manufacturing
• Smart Energy and Utilities
• Connected Logistics
• Smart Home and Consumer Electronics
• Connected Healthcare
• Smart Government and Defense
• Smart Retail
• Other Application Areas

The smart manufacturing, smart energy and utilities, connected logistics, smart home and consumer electronics, connected healthcare, smart government and defence, smart retail, and other application areas market segments are based on the application areas. The Smart Energy and Utilities segment is anticipated to expand quickly between 2022 and 2029 at a CAGR. This is because more and more IoT-enabled gadgets, like smart metre, smart appliances, and renewable energy sources, are being used.

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Key Competitors:

The entire approach involves a review of the financial reports of the major market participants. Following the determination of the overall market size, the complete market was divided into many segments and sub-segments and checked with key industry professionals such as CEOs, VPs, directors, and marketing executives. The major players in the IoT Security market are

• Microsoft (US)
• AWS (US)
• Google (US)
• IBM (US
• Intel (US)
• Cisco (US)
• Ericsson (Sweden)
• Thales (France)
• Allot (Israel)
• Infineon (Germany)
• Atos (France)
• Magiccube (US)
• Dragos Security (US)
• Claroty(US)
• Karamba Security (Israel)
• Vdoo (JFrog) (US)
• Forgerock (US)
• Ordr (US)
• Newsky (US)
• Armis (US)
• Mobileum(US)
• Trend Micro (Japan)
• Sophos (UK)
• Checkpoint (US)
• Fortinet (US)

Regional Analysis:

The region portion of the IoT Security market study also includes individual market affecting elements and changes in legislation in the market that affect present and future market trends. Current and future trends are discussed in order to estimate the entire market potential and to highlight profitable trends in order to obtain a firmer footing. Geographic market assessment is based on the existing scenario and predicted developments.

COVID-19 Impact Analysis on IoT Security Market:

Following the outbreak of the pandemic, end-user sectors where IoT Security are used had a fall in growth from January to May in a variety of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a suspension in operations. This resulted in a major decrease in the revenues of firms operating in these industries and, as a consequence, in demand for IoT Security manufacturers, influencing the growth of the IoT Security market in 2020. With lockdowns and a rising number of COVID-19 cases throughout the world, the demand for IoT Security from end-user businesses has decreased significantly.

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Key Questions answered in the IoT Security Market Report are:

Which are the major companies in the IoT Security market?
Which is the potential market for IoT Security in terms of the region?
What are the opportunities for new market entrants?
What is expected to drive the growth of the market in the next seven years?
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