Within the global IoT security market the Banking, Financial Services, and Insurance (BFSI) vertical is set to attain the largest IoT security market size during the forecast period dominated by Asia-Pacific which is projected to witness the highest growth during 2016-2021. The main driver here is the increasing adoption of web and mobile applications, which are prone to advanced cyber-attacks. Smart banking, internet banking, and mobile banking are the factors, which have led the BFSI sector to focus more on Internet of Things security.
Set to be overtaken by BFSI, Network security is estimated to have the largest IoT security market size in 2016. The key trends contributing to this market growth are the growing virtualization of servers and increased usage of connected devices, resulting in the rise of security breaches targeting enterprise networks.
North America is expected to hold the largest market share of the IoT security market in 2016 due to strict regulations and technological advancement. Asia-Pacific (APAC) is expected to have the highest growth rate during the forecast period due to high rate of adoption of IoT security. The major trends in the IoT security market include increasing sophistication of threats and attacks, diversified reach of the connected devices, and risks over personal data. Huge opportunities are prevailing for IoT security in the untapped geographic regions, especially in the Middle East and Latin America.
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.