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IoT Security in Asia Pacific Market By Services,Assets Type,Solutions,End-Users,Regions Forecasts to 2023
February 9, 2018 News IoT

 

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.

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.

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.

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

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.

This article was originally published on www.digitaljournal.com and can be viewed in full

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