Delray Beach, FL, May 19, 2025 (GLOBE NEWSWIRE) — The global IoT Security Market size is projected to grow from USD 24.2 billion in 2024 to USD 56.2 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 18.4% during the forecast period, according to a new report by MarketsandMarkets™.
Network advancements and developments such as 5G deployments, development in smart projects like smart cities, smart manufacturing, connected healthcare, and logistics are some of the trends driving the need to secure IoT devices.
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IoT Security Market Dynamics:
Drivers:
- Rapid increase in IoT security incidents related to Industry 4.0
- Need to deal with IoT vulnerabilities effectively
- Growing number of IoT security regulations
- Rising security concerns related to critical infrastructure
- Increase in data volumes due to 5G
- Standardization of IPv6
Restraints:
- Lack of awareness about new variants of IoT threats
- Budgetary constraints of SMEs in developing economies
Opportunities:
- New wave of IoT applications due to 5G networks
- Development of smart infrastructure
List of Key Companies in IoT Security Market:
- Microsoft (US)
- Fortinet (US)
- AWS (US)
- IBM (US)
- Intel (US)
- Cisco (US)
- Thales Group (France)
- Infineon (Germany)
- Allot (Israel)
- Atos (France) and more…
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Trend 1: Advancement in Cellular Networks
Globally, the advancement in cellular networks is increasing due to the need to build connections in the IT ecosystem within the premises as well as remotely. This trend of remote work with the support of digital technologies has urged the …