IoT Security Market is anticipated to expand at a compound annual growth rate (CAGR) from 2022 to 2031

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IoT Security technology helps protect internet-connected devices and the data they collect. It does this by providing a secure connection between devices and the internet, and by ensuring that only authorized devices and users can access data. IoT Security technology can also help detect and prevent attacks on devices and data, and can provide a way to remotely disable or delete data if a device is lost or stolen.

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Key Trends and Drivers

IoT security is a rapidly evolving market with new technologies and trends constantly emerging. Here are some of the key trends in IoT security:

Increased focus on security at the device level: With the number of IoT devices increasing exponentially, there is a need for greater security at the device level. This includes both hardware and software security measures.
Improved data security: As more and more data is collected and transmitted via IoT devices, security concerns are growing. There is a need for better data security measures, such as encryption and data anonymization.

Improved authentication and authorization: Another key trend in IoT security is the need for improved authentication and authorization. This includes both user authentication (such as biometrics) and device authentication.
Greater need for security analytics: With the sheer volume of data generated by IoT devices, security analytics is becoming increasingly important. This helps organizations to identify and respond to threats in real-time.

Increased use of blockchain: Blockchain is being increasingly used for IoT security, due to its tamper-proof and distributed nature. This trend is likely to continue as more organizations explore the potential of blockchain for IoT security.

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Market Segments

By Component

Solutions
Services
By Security Type

Network Security
Endpoint Security
Application Security
Cloud Security
Others
By Vertical

Energy and Utilities
Manufacturing
Automotive
Transport
Consumer Electronics
Healthcare
Others

Key Players

Allot Ltd.
Armis Inc.
CENTRI Technology
Cisco Systems Inc.
ForgeRock Inc.
Fortinet Inc.
Gemalto NV
IBM Corporation
Infineon Technologies AG
Intel Corporation

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