North America Internet Of Things (IoT) Security Market Booming at a CAGR of 27.56% by 2023

The North American IoT security market was valued at USD 136.56 million in 2017, and it is expected to reach a value of USD 588.31 million by 2023, at a CAGR of 27.56%, over the forecast period (2018 - 2023).

The report presents an in-depth assessment of the Internet Of Things (IoT) Security including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Internet Of Things (IoT) Security investments from 2018 till 2023.

Top Leading Companies are Symantec Corporation, IBM Corporation, Check Point Software Technologies, Intel Corporation, HP Enterprise Company, FireEye Inc., Infineon Technologies AG, Trustwave Holdings, Gemalto NV, AT&T Inc., and Palo Alto Networks Inc.

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Key Developments in the Market

• August 2017 - Cisco acquired Observable Networks. This acquisition was aimed at diversifying Cisco's security portfolio in cloud security capabilities, and providing security support and compliance for applications deployed on public cloud platforms, such as Amazon Web Services (AMZN) and Microsoft (MSFT) Azure.
• November 2017 - IBM acquired Agile 3 Solutions, a San Francisco-based company, which develops software used by C-Suite and senior executives, to better visualize, understand, and manage risks associated with the protection of sensitive data. The acquisition is aimed at complementing the company's security solutions across cloud and IoT platforms.
• January 2018- IBM partnered with Maersk, North America logistics, a transport leader, to use blockchain technology to create a digitized North America trade platform, and create a more efficient and secure process for conducting North America trade. The companies also aimed at tapping artificial intelligence (AI), Internet of Things (IoT), and analytics technologies to enhance the movement and tracking of goods digitally across the world. Through this partnership, IBM aims to develop and strengthen its position and product portfolio in the transportation and logistics sector.

This independent 90 pages report guarantees you will remain better informed than your competition. With figures examining the Internet Of Things (IoT) Security market, the report gives you a visual, one-stop breakdown of the leading products, submarkets and market leader’s market revenue forecasts as well as analysis to 2023.

Healthcare to Witness the Greatest Adoption

With IoT drifting towards healthcare, and data from devices flows from patients wrist to physicians charts, the Food and Drug Administration (FDA) is keeping up the pace with the fast-evolving technologies. From EHRs (Electronic Health Records) to population health management, security solutions are the core for organizations to collect, circulate and utilize data and information across their ecosystem. Electronic Protected Health Information (ePHI) is the top priority for IT departments, specifically because of the U.S. Department of Health and Human Services Security Rule. Patient authentication is essential in IoT paradigm because it ensures to generate correct information and shared with the correct patient. One-to-one link between patients and their medical records is created for patient identification. Providers with integration of devices will become part of the credential set for patients, which requires a secure enrolment process to bind devices to patient identities. Thus, the healthcare institutions are increasingly adopting the five key functions of security IAM, encryption, application security, and network security across many possible end point devices and channels involved within the firm architecture.

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Growing Number of Data Breaches

North America has made significant progress in the adoption of IoT, particularly in the manufacturing and automotive sectors. However, the increasing number of data breaches has led to the demand for IoT security solutions. Cloud services are experiencing high adoption, due to the demand for IoT. This rise in the use of cloud systems, across various verticals, has increased the vulnerabilities of these systems to data breaches. According to Kaspersky, in 2017, the average cost of a data breach in North America is USD 1.3 million for large enterprises and USD 117,000 for small and medium-sized businesses (SMBs). These factors are expected to be instrumental in driving the growth of the North American IoT security market.

Reasons to Purchase this Report

• The growing number of data breaches act as drivers to the North America market scenario.
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
• The solutions and type of security expected to dominate the market.
• The regions that are expected to witness fastest growth during the forecast period.
• Identify the latest developments, market shares. and strategies employed by the major market players.
• Three month analyst support, along with the Market Estimate sheet (in excel).

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