The CAGR of IoT Security Market is Estimated to grow at 23.2% Over the Forecast Years (2019 – 2027), With Internet of Things Being the Fastest Growing Trend Driving the Deployment of PKI (Public Key Infrastructure) Applications: Says Absolute Markets Insights.

More devices are getting connected to the internet each day with digital identities for secure operation. The rapid adoption of IoT technologies by both consumers and enterprises is creating increasing demand for Public Key Infrastructures (PKIs) to provide digital certificates for the growing number of devices and software and firmware they run. Public Key Infrastructure (PKI) has proved to be an effective mechanism for ensuring confidentiality, integrity and authentication. It is a comprehensive system designed to provide public-key encryption and digital signature services. Organizations are able to establish and maintain a trustworthy networking environment by managing keys and certificates through a PKI. Leveraging of PKI for device security is one of the primary factors complementing the IoT security market.

In IoT, PKI is used for securing communication between devices that are not resource-constrained, such as servers or the systems that make up the LTE network infrastructure. Safe IoT deployments require not only trusting the devices to be authentic but also trusting that the data they collect is real and not altered. PKI certificates are an industry standard for cybersecurity, and cryptography has been rapidly evolving to introduce more hacker-proof algorithms. However, it cannot be considered as the one stop solution given the diversity and complexity of IoT systems. Hence, solution vendors are striving towards building a more competent, safe PKI that will adequately shield consumers and businesses from security breaches and augment the IoT security market.

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“With the cloud playing a central role in IoT solutions, huge amounts of data is generated by and collected from a rapidly growing number of IoT devices. Although, if the devices or the data is not secured, the collecting and analysis of that data is of no use. For safe and secure IoT deployments, organizations are embracing time-tested security techniques such as PKI, to ensure the integrity and security of IoT systems. Utilizing public key infrastructure (PKI) security method to implement strong authentication, data encryption and digital signatures is augmenting the IoT security market. ”

In terms of revenue, the IoT security market stood at US$ 2,239.8 Mn in 2018 and is anticipated to reach US$ 14,741.0 Mn by 2027, expanding at a CAGR of 23.2% from 2019 – 2027. This research study aims at providing the reader with quantitative and qualitative analysis of global IoT security market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further, across all the major countries. The supply side analysis covers the prominent players and their regional and global presence and key business strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa, and Latin America.

Few market participants operating in IoT security market include Check Point Software Technologies Ltd., Cisco Systems Inc., DigiCert, Inc., Gemalto NV, IBM Corporation, Infineon Technologies AG, Intel, Lynx Software Technologies, Inc., McAfee, LLC, PTC, SecureRF Corporation, Sentryo SAS, Sequitur Labs Inc., Sophos Ltd., Symantec Corporation, Trend Micro Incorporated, TRUSTED OBJECTS, Trustwave Holdings, Inc. and Verizon amongst other players.

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IoT security Market:

  • By Offerings
  • Solutions
  • Identity Access Management
  • Device Authentication and Management
  • Manufacturing Analytics
  • Intrusion Detection System/Intrusion Prevention System (IDS/IPS)
  • Distributed Denial of Service Protection
  • Others
  • Services


  • By Type
  • Network security
  • Endpoint security
  • Application security
  • Cloud security
  • Others


  • By Industry
  • Energy and Utility
  • Manufacturing
  • Transportation and Logistic
  • Building and Architecture
  • Healthcare
  • Automobile
  • Governance
  • Others (Manufacturing, Tourism, Etc.)


  • By Geography
  • North America
  • U.S.
  • Canada
  • Mexico
  • Rest of North America


  • Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
  • Denmark
  • Finland
  • Iceland
  • Sweden
  • Norway
  • Benelux Union
  • Belgium
  • The Netherlands
  • Luxembourg
  • Rest of Europe


  • Asia Pacific
  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Southeast Asia
  • Indonesia
  • Thailand
  • Malaysia
  • Singapore
  • Rest of Southeast Asia
  • Rest of Asia Pacific


  • Middle East and Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of Middle East & Africa


  • Latin America
  • Brazil
  • Argentina
  • Rest of Latin America


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Company: Absolute Markets Insights
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Shreyas Tanna

About Shreyas Tanna

The winner of Mr. Pune 2009 Pageant, Mr. Shreyas Tanna is currently the young, dashing, and dynamic CEO of a market research company called Research N Reports in Pune. Fondly known as RNR, the company specializes in market research as well as industry analysis, and is closely associated with its parent company Absolute Markets Insights (AMI). Mr. Shreyas Tanna began his corporate journey as the Head of Corporate sales & PR at RED Entertainment while pursuing his degree for MMS (Marketing) from the MGM College of Management, Mumbai. After accomplishing the tedious task of balancing his work and education, he further polished his skills in Corporate Sales, Public Relations, Channel Development, Global Client Engagement, Strategic Consulting, and Brand Development by working with HDFC Life and ResearchMoz Global Pvt. Ltd. His dedication towards his work has even won him accolades such as the National Level Performer 2013 – HDFC Life and Mr. ResearchMoz 2015. A disciplined individual with a loving heart, he is often seen taking crisp walks with an engrossed look and a gentle smile within the premises of his company to interact with the various departments. And he will be usually followed by an adorable trail of his beloved trio of Shih Tzu babies proudly known as Gucci, Drake, and Paris. The most enticing thing that you will notice about this content and proud pet parent is his infectious positivity and the firm belief in his eyes, a reflection of his favorite quote, “LIFE IS BEAUTIFUL!”

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