Broadcom Inc. (Symantec Corporation), IBM Corporation, Check Point Software Technologies Ltd., Intel Corporation, Hewlett Packard Enterprise Co., Cisco Systems Inc., Fortinet Inc., Trustwave Holdings, Thales Group (Gemalto NV), AT&T Inc., and Palo Alto Networks Inc. [Description of the Report] The internet of things (IoT) market was valued at USD 1490.34 million in 2019, and it is anticipated to reach The arising applications and plans of action, combined with the falling gadget costs, have been driving the reception pace of IoT, which is, subsequently, affecting the quantity of associated gadgets, like associated vehicles, machines, meters, wearable, and purchaser hardware.

Highlights: The need to keep connected devices safe is growing as people become more reliant on them. Ericsson estimates that by 2022, the number of IoT devices with cellular connections will reach 1.5 billion, up from 400 million in 2016. The industry's increased focus on deploying a connected ecosystem and the standardization of 3GPP cellular IoT technologies are expected to drive this robust growth.
Symantec Corp., for example, introduced a new service in 2019 that enables its Cloud Workload Protection (CWP) solution and Amazon's AMZN GuardDuty to provide automated remediation and enhanced threat intelligence for workloads and storage hosted on Amazon Web Services (AWS). AWS customers will be able to automate and streamline essential aspects of cloud security thanks to this new service, which is anticipated to assist businesses in navigating the intricate security landscape.
The market is being driven by a number of factors, including the rise of smart cities and the rising number of data breaches.
However, the market's expansion is hampered by factors such as a lack of skilled labor and a lack of awareness regarding the significance of IoT security solutions.
Key Market Trends Network Security Is Expected to Grow at the Fastest Rate IoT networks are the most important targets and issues for businesses worldwide. The organization security portion covers different subsegments, like firewalls, servers, VPN, IDS, IPS, WIDPS, passage, and organization equipment. Attacks on enterprise networks are raising security concerns as businesses increasingly adopt BYOD and IoTs. For instance, the value of the global market for network hardware in fiscal 2018 was USD 181 billion, as reported by IT Candor. Hardware for the enterprise network alone was worth 52 billion USD.
The IBM X-Force threat intelligence report indicates that there was a 5,400% increase in the number of IoT vulnerabilities in 2018 compared to just five years earlier. The 2016 Mirai attack is a well-known illustration of how IoT can be used to attack servers. The botnet that the malware used sent 1TB of data per second to the vendor's servers from over 150,000 devices.
The majority of IoT-based attacks have so far been DDoS-based. As per Symantec s report, three sorts of DDoS related malware, like LightAidra, Kaiten, and Mirai, on the whole represented almost 80% of the long term s IoT assaults.
In the market, numerous vendors place a strong emphasis on offering solutions that are tailored to address network security issues. Through the firewall, Palo Alto Networks, for instance, provides integrated IoT security; Palo Alto Networks' recent acquisition of Zingbox was the reason for the capability. Over the course of the forecast period, such initiatives by a variety of vendors are anticipated to lessen network threats and propel market demand for the network security sector.
Due to the development of smart city projects in the region, Asia-Pacific holds the largest market share for the adoption of IoT. The huge industrialization and the rising number of cell phone clients in Asia-Pacific likewise demonstrate that the locale is supposed to observe critical development.
By 2022, the region may have 2.6 billion internet users-62 percent of the population-up from 1.7 billion in 2017 (41 percent of the population), according to the Cisco VNI report. By 2022, the region is expected to have 13.1 billion connected devices, up from 8.6 billion in 2017. However, compared to the rest of the world, Asia-Pacific is 35% more likely to be the target of sophisticated cyberattacks, according to a FireEye report.
The number of cyberattacks on IoT devices has risen significantly, according to the National Institute of Information and Communication Technology (NIICT). By 2020, the number of devices targeted by cyberattacks could reach 30 billion, up from 15 billion in 2015. IoT security solutions are being implemented by the government and other relevant organizations in response to such incidents to lessen the damage.
China's technological innovation has resulted in an increase in Chinese consumers' demand for smart homes in the IoT market. Lighting control systems, security systems, audio and video entertainment systems, home appliances, and other components make up the nation's central smart home systems.
Landscape of Competitors There are a few significant global players operating in the IoT Security market, which is moderately competitive. Some players currently hold the majority of the market's share. However, new players are increasing their market presence and expanding their business footprint in emerging economies as a result of improvements in security access to industrial services. Symantec Corporation, IBM Corporation, Check Point Software Technologies Ltd., Intel Corporation, Hewlett-Packard Enterprise Company, Cisco Systems Inc., Fortinet Inc., Trustwave Holdings, and Thales Group (Gemalto NV) are just a few of the major players in the market. Others include these companies as well.

The cloud-based cybersecurity platform that serves as the foundation for Trustwave's managed security services, products, and other cybersecurity offerings was announced in September 2019. The Trustwave Fusion platform was designed specifically to meet the needs of the enterprise, where it is involved in operations as it embraces digital transformation and contends with a security landscape that is constantly changing.
A new service for Symantec's Cloud Workload Protection (CWP) and Amazon Guard Duty that provides automated remediation and enhanced threat intelligence for AWS workloads and storage was announced by Symantec Corp. in June 2019. This new assistance will assist ventures with exploring the perplexing security scene, permitting AWS clients to computerize and smooth out key parts of cloud security.