The growing Bring Your Own Device (BYOD) trend at the workplace is posing a considerable security threat to the enterprises. The wearable device security solution market is expected to reach $13,682.9 million by 2022.
Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Worldwide Wearable Device Security Market: Drivers, Opportunities, Trends, and Forecasts, 2016–2022” (July 2016).
According to Infoholic Research, the healthcare industry will continue to dominate the worldwide device security market. As per the study, the market will experience a significant growth in the coming years due to the increase in the government investments, rise in the wearable device users and growing demand for health and fitness wearables across the globe. The market is expected to grow at a CAGR of 51.4% during the period 2016–2022 to touch an aggregate of $35.70 billion by 2022.
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Image: WorldWide Wearable Device Security Market growth chart. Few readings are hidden. You can find the complete report at Infoholic Research.
The wearable device market will be driven by the end-users such as healthcare, sports, and BFSI. The healthcare market, by security types, is expected to reach $11,441.1 million by 2022. At present, Americas is leading the overall wearable device security market followed by Asia Pacific. The healthcare, BFSI and fitness industries are supporting the growth of the wearable device security market in Americas. The Americas’ wireless security market is expected to reach $4,870.4 million by 2022.
“The rise in the enterprise-focused wearable apps has made the handling of the workload at ease. However, increased risk of breaches in parallel with sensitive data is now easily transferred from one wearable to the other. Organizations should be prepared with security policies for ensuring data safety. Wearable device security solutions provide a profitable opportunity to modern enterprises to improve their workflow, resource management, and enhance communications efficiently.” – Jaydeep Bhattacharjee, Group Head at Infoholic Research.
As already mentioned the report encompasses myriad of business sectors including as BFSI, Retail, Healthcare, Sports etc. Taking retails market revenue by security type into consideration, the amount of growth is massive.
RETAIL MARKET REVENUE BY SECURITY TYPES, 2016-2022 ($MILLION)
Image: Retail Market Revenue by Security Type. Few readings are hidden. You can find the complete report at Infoholic Research.
The chart clearly indicates retail market revenue by security type is estimated to reach $7749.9 million by 2022.
“The growing number of wearable device users at the workplace is leading towards a potential threat to the enterprise data security. With the wearable device, it is bit easy to enter the enterprise wireless network and tamper the data. Even from the consumer perspective, security of the wearable devices is a key concern, as user’s information can be easily stolen by entering into the device through the short-range technologies such as Bluetooth. Hence, this market offers a huge growth opportunity for the data security providers.” – Komal Sharma, Senior Research Analyst at Infoholic Research
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Scope of the report:
The research report categorizes the “Worldwide Wearable Device Security” market into the following segments and sub-segments:
- Devices: Market Size and Analysis
- Wrist wear
- Smart Clothing
- Security Types: Market Size and Analysis
- Network Security
- Cloud Security
- Wireless Security
- Application Security
- Solutions: Market Size and Analysis
- Role Based Access Control (RBAC)
- Risk & Vulnerability Management
- DDoS Mitigation
- Intrusion Detection and Intrusion Prevention Systems
- End-Users: Market Size and Analysis
- Sports Industry
- Regions: Market Size and Analysis
- Western Europe
- Asia Pacific
- Eastern Europe, Middle East, and Africa (EEMEA)
The report aims to highlight key insights from providers and end-users. The report provides an in-depth analysis and forecast about the industry covering the following key features:
- This report not only highlights users’ conundrum (challenges and barriers to adopting wearable device security market) but also brings in their perspective on the market. This market has been analyzed by taking into account the key regions – Americas, Western Europe, Asia Pacific, and EEMEA
- The report analyzes the market according to the devices, security types, solutions and end-users
- The report analyzes the top 15 players (including Fitbit, Apple, Google, Garmin, Nike, Microsoft, HP, CrowdOptic, BotFactory, ODG, Biovotion and Innovega) in terms of market reach, business strategy, and business focus
- Competitive benchmarking analysis to optimize short term and long term strategy of the organizations
- Stakeholders’ insights and key trends (current and future) of the market
About Infoholic Research
Infoholic Research is a global market research and consulting organization providing strategic and high-level market intelligence in emerging and niche technologies. Founded in 2014, we are headquartered in India with an office in the US and with consultants working across the globe. Our market analysis powered by rigorous methodology and quality metrics provides information and forecast across all the emerging markets, technologies and business models. We aim at delivering high-quality results to our clients providing them with in-depth industry insights to identify new business opportunities and nurture their business strategies. For more information, please visit www.infoholicresearch.com
Ms. Sunanda Ganguli
Infoholic Research LLP