Latest News- Internet Of Things (IoT) Security Market: Industrial sector is expected to lead the End-user segment during 2025-2029

The Internet Of Things (IoT) Security Market is being driven by Technological developments in different platforms

The Internet Of Things (IoT) Security Market is expected to grow at a CAGR of 39% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 268.3 billion. In today's business landscape, mobile devices such as smartphones and tablets have emerged as the primary hubs for computing and communication, offering advanced functionalities through integrated sensors. These sensors enable applications in various sectors, including social networking, environmental monitoring, healthcare, and transportation. Equipped with technologies like GPS, microphones, accelerometers, cameras, ambient light sensors, gyroscopes, and digital compasses, smartphones also feature WiFi, 3G/4G/5G, and Bluetooth connectivity. In the healthcare industry, IoT wearables are transformative, allowing consumers to self-monitor their health needs and enabling doctors to remotely monitor patients. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on segments_for_ai.nslist

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Technological developments in different platforms
• Exponential growth of Internet-connected and operated devices
• Rise in industrial automation

However, the market also witnesses some limitations, which are as follows:

• Lack of awareness of efficient management of IoT initiatives and investments
• Increasing cybersecurity threats
• High cost of implementation of IoT and its security

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Market Scope in Internet Of Things (IoT) Security Market Research Report

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Research Analysis Overview

The Internet of Things (IoT) market encompasses various devices such as machines, meters, wearables, and consumer electronics, which exhibit increasing dependency on IoT networks for connectivity via cellular connections. Ericsson projects a significant growth in IoT devices, leading to increased risks of data breaches in cloud workloads. IoT networks, including field-based sensors and advanced equipment in smart cities, smart farming, and precision agriculture, require a skilled workforce to mitigate IoT vulnerabilities and cyber attacks. Security systems, including firewalls, play a crucial role in safeguarding IoT devices and smart drones from potential threats.

Market Research Overview

The Internet of Things (IoT) security market encompasses a vast array of machinery and devices, including software, machines, meters, wearable technology, and consumer electronics. With the increasing dependency on cellular connections and cloud workloads, the risk of data breaches becomes a significant concern. In the broader context, the global IT software market, which covers companies engaged in developing and producing application and systems software, plays a crucial role in addressing IoT security challenges. This market includes organizations specializing in application development and management software, cloud computing software, data centers, hosting software, IT management software, mobility software, networking software, security software, and storage software. According to Technavio, the global systems software market size is determined by the combined revenue generated by these organizations, incorporating cloud-based software solutions.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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