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US $12 Billion IoT Security Products Market Growing Steadily,

Manufacturing & Healthcare Key Sectors

IoT is making the transition from being a buzzword to becoming an integral component in
many verticals. However, in a hyper-connected world, a chink in the armour can lead to
unprecedented catastrophe. While we cheer the dawn of a new era, it s important we have
everything covered.

by Suyog Keluskar, Client Business Partner & Senior Consultant, Future Market Insights

In an inter-connected grid of computing devices and digital technologies, connectivity is the new
essentiality. Widespread proliferation of Internet of Things (IoT) corroborates the gravity of this
notion.

As is the case with every disruptive technology, IoT has made the transition from being a
buzzword to becoming an integral component in many verticals.

It is also pertinent to mention here that incorporation of IoT is still a work-in-progress and its full
potential will only be known when it becomes truly ubiquitous.

The key benefits of IoT in a commercial setting include – commodity management through
predictive analytical solutions, outright support to smart technologies, creating a demand-aware
environment, and boosting customer engagement.

As IoT gains traction, it is also important that end-users show alacrity in incorporating adequate
security measures. The recent WannaCry and Petya attacks are a case in point on how security
loopholes can lead to attacks of unprecedented magnitude.

Key Findings of Study on IoT Security Products Market Report

In 2017, over US$ 12 bln worth of IoT security products will be sold globally. The U.S. remains
at the forefront of global demand for IoT security products.

On back of strong demand in the U.S., the North America IoT security products market is
projected to surpass US$ 4 bln in revenues in 2018.

Software sales will pip hardware sales and witness a higher y-o-y growth rate. Vendors will
continue to offer a range of solutions to end-users, with the most prominent being device
security, network security, identity and access management, and vulnerability management.

Among these, demand for device security will be the highest, with total sales in North America
projected to reach US$ 1.12 Bln in 2018.

63 Cyber Warnings E-Magazine – July 2017 Edition
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