World Internet of Things Security Market Drivers and Challenges Report 2020

RnRMarketResearch.com adds Global Internet of Things Security Market 2016-2020 a new research reports in its store. The market research analyst has estimated the global Internet of Things (IoT) security market to grow profoundly at a CAGR of over 55% by 2020.

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Much of this growth can be attributed to the rapid adoption of cloud-based services for video management systems, authentication processes, and storing biometrics information. Since numerous organizations are using the cloud to store their confidential data, the need for security measures to secure the cloud against unauthorized access will increase significantly. The adoption of cloud-based services is increasing rapidly in SMEs as cloud-based services work on a pay-per-use model and offer flexibility and scalability to accommodate the varying needs of consumers. Consequently, with the augmented use of cloud-based services for data storage purposes, the need for IoT security solutions will also increase.

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An important factor that will impel the prospects for growth in this market is the advent of integrated security solutions. The preference for IoT security solutions among end users is increasing as they provide overall security to devices and networks. As stand-alone IoT security solutions are extremely costly, many end users prefer integrated IoT security solutions as it provides better support and functionality to the customers. Furthermore, with the integration of IoT security solutions with data loss prevention (DLP) and firewalls, the overall cost of owning IoT security solutions will decrease.

End-user segmentation and analysis of the IoT security market: Utilities, Automotive, Healthcare

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