Internet of things (IoT) security deals with safeguarding
connected networks and devices in IoT. Security of connected devices has
remained a prime area of concern since the emergence of IoT as a concept.
Proliferation of IoT systems and mounting cases of ransomware attacks are
translating into greater adoption of IoT security solutions.
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Advancements
in Technology to Promote Uptake of Hardware
Basic components involved in Internet of things
security are software, hardware, and services. Hardware will represent a
substantial share in the market through 2022. Rising adoption of IDP hardware
and firewall for increased security of network infrastructures is contributing
to the growth of the segment. Rapid technological advancements are also
supporting the sales of hardware security components.
For instance, in November 2017, Renesas Electronics
announced the extension of its RX65N/RX651 family of microcontrollers (MCUs).
It addresses advanced security needs for IoT devices operating in smart metering
systems, industrial automation, and building automation. The expanded
RX65N/RX651 devices offer enhanced flash protection and integrated Trusted
Secure IP.
Internet of things security can be used in
commercial, industrial, and consumer applications. The industrial segment will
be a key revenue contributor in the market. Rising utilization of IoT
technology in process control, manufacturing execution system (MES), smart
agriculture, maintenance, and asset location will drive the need for security
solutions in the segment. Demand for IoT security will also experience a sharp
rise in the commercial segment. Rising shift from standalone devices and
security guards to connected devices, especially in the finance and utility
sectors, is expected to supplement the growth of the segment.
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Market
Insights
With growing implementation of cloud infrastructure,
it becomes imperative for service providers to secure their cloud platform
against unauthorized access. This, in turn, is playing a vital role in the
growth of the global Internet of things (IoT) security market. Cloud-based
services are being increasingly used for storing biometrics information,
authentication processes, and video management systems. Besides this, introduction
of integrated security solutions can positively impact the market. Integrated
IoT security solutions are gaining popularity as they offer better support and
functionality to end users. U.S. will hold a prominent position in the market
until 2022 as a large number of key players are headquartered in the region.
Some of the prominent companies in the industry are
Cisco, Symantec, IBM, Infineon Technologies, and Intel.
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Toll Free: 1-888-928-9744
Mail: sales@radiantinsights.com
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