Asia Pacific IoT Security Market By Trends & Forecasts to 2023
Overview:Internet of Things (IoT) has turn out to be a chief requirement for the verticals such as IT & telecom, retail, BFSI, healthcare, and government due to its innovations and easy to adopt nature. IoT has its share of challenges which arise mainly due to the security concerns. To overcome this security hassle, business organizations are hugely investing for the betterment of solutions for IoT security. At present, Asia Pacific is the most attractive region for the adoption of IoT due to smart city projects being built in the region.
Market Analysis:
The “Asia Pacific IoT Security Market” is estimated to witness a CAGR of 38.4% during the forecast period 2017–2023. The market is analyzed by types, solutions, services, verticals, and countries. Implementing IoT security could help to avoid risks, attacks & threats and ensures safe & secure zone for the organizations. Rising internet dependent population, government initiatives, rising FDI, and economic growth are few of the factors making Asia Pacific an emerging market for players present or planning to enter the market.
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Country Analysis:
According to the country level analysis, the report is segmented into China, India, Japan, ANZ, Southeast Asia, South Korea, and others. China is set to be the leading country for the APAC IoT Security market growth followed by Japan for the Identity & Access Management (IAM) adoption. India and ANZ are known for improvements in industries and project & programs by the governments of emerging countries. Southeast Asia and South Korea are growing fast due to the biggest penetration market for the IoT devices and are expected to cross together $3 billion, by 2023.
Vertical Analysis:
The major verticals covered in the report are BFSI, retail, healthcare, IT & telecom, government, utility sector, and others. The leading players in the market are showing interest towards IoT security. The technology is already being incorporated and is widely used in all the major verticals. BFSI, healthcare, and retail are set to be the leading verticals after government and IT & telecom.
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Key Players:
Symantec Corp., McAfee LLC, IBM Corp., Cisco Systems, Inc., Oracle Corp., FireEye, Inc., Gemalto NV, Trend Micro Inc., Dell Security, Infineon Technologies AG, Stormshield, and Accenture Plc.
Competitive Analysis:
The IoT security market consists of many players, a few of them quite big as well. Most of the market is acquired by security players such as Cisco, McAfee, IBM, Oracle, Symantec Corp., FireEye, and Gemalto. The market will witness a huge competition in the next 3–5 years as a lot of SMEs are entering the market with strong portfolio, challenging the big security players. Mergers & acquisition play a major role as small companies are turning into targets by cyber security organizations. Although the market is now being ruled by large organizations, the scope of the market is tremendous, offering the opportunity to other small players to have their own brand value and secure a small portion of the share. The service providers also play a major role as they have their core competency of services into other organizations.
Benefits:
The report provides an in-depth analysis of the Asia Pacific IoT Security market aiming to bring down the operational cost for the enterprises. The report provides a detailed analysis of the APAC IoT Security market in terms of types, solutions, services, verticals, and countries. With that, key stakeholders can know about the major trends, drivers, investments, and vertical player’s initiatives towards the IoT Security adoption in the upcoming years. On the other hand, the report provides details about the major challenges that are going to impact the market growth. Furthermore, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in the market. This will help the key stakeholders to analyze before investing or expanding the business in this market.
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