Global IoT Security and Privacy Market A $52.3 Billion Market by 2026

 

The overall security in IoT market will reach $52.3 billion globally by 2026, according to a new reports. Distributed denial of service protection for IoT systems will reach $1.58 globally by 2026

Driven largely by commercial retrofits, IoT security in smart buildings will reach $4.55 globally by 2026

The largest deployment mode, cloud-based IoT security solutions will reach $30.33 billion globally by 2026

IoT networks and systems often represent a multi-vendor, multi-nodal and distributed environment and are therefore more prone to cyberattacks by virtue of many points of attack. Major concerns include illegal capture and abuse of IoT data which includes users' activities, personal health or financial information, location of assets (humans, equipment, vehicles, etc.), corporate and personal information.

Industrial IoT (IIoT) is an emerging category of IoT which has been appreciated worldwide for its usability in streamlining business with real time analysis. The devices and things used in IIoT are very special and specific to industry needs. For example, sensors used in oil wells and mines are uniquely processed to adapt and stay working in severe conditions such as high temperature, low pressure, etc.