Network security is one of the most important aspects when it comes to the security of the IoT ecosystem. Wireless communication is carried out with the help of various secure protocols such as LPWAN, Zig-bee, 6LowPAN, Bluetooth, Z-Wave, and NFC. Technologies such as Bluetooth Low Energy, IEEE 802.15.4, and IEEE 802.11ah play a significant role in IoT connectivity. These networking technologies are more susceptible to cyber attacks and hence it hold the largest market share during the forecast period.

With the advent of smart devices and advanced data analytics techniques, manufacturing enterprises have been deploying the IoT-enabled sub-systems at a significant scale. Manufacturing companies have been integrally focusing towards enhancing their business process efficiency and production output with optimum resource utilisation. Smart manufacturing has been at the forefront in introducing transparency, scalability, and process defined architecture in manufacturing operations. Also, various initiatives such as Industry 4.0, implemented by countries such as Germany and Japan are driving the adoption of smart manufacturing initiatives.

North America is expected to hold the largest market share in the IoT security market.  As per the geographic analysis, North America is the largest region in the IoT security market. Countries, such as the US and Canada are the major growth drivers of the region due to early adoption of IoT technologies in various application areas such as healthcare, smart manufacturing. The strong financial position of North America allows these countries to invest heavily in leading IoT-enabled devices and solutions/services.

The major vendors covered in the IoT security market include PTC Inc.(US), Symantec Corporation, Verizon Enterprises Solutions, Trustwave, Check Point Security Software Technologies Ltd., Cisco Systems, Inc., IBM Corporation, Infineon Technologies, Gemalto NV, AT&T Inc., Trend Micro Inc., Digicert.