Internet of Things (IoT) has turn out to be a chief requirement for the verticals such as IT & Telecom, retail, BFSI, manufacturing industries, and healthcare 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 the security hassle, major verticals and business organizations are hugely investing in the betterment of solutions for IoT security. At present, Asia Pacific is the most attractive region for the adoption of IoT, which is mainly due to smart city projects being built in the region.
The increasing 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. The growing security breaches, internet penetration, and government initiatives for digital infrastructure are contributing further to the Asia Pacific IoT Security market growth. However, the lack of consistency in security measures is the major factor hindering the market growth. Around 150 security breaches were witnessed in Asia Pacific in 2015 and are expected to increase exponentially during the forecast period. The market is segmented by security types, solutions, applications, and countries such as India, China, Japan, South Korea, and others.
According to Infoholic Research, the “Asia Pacific IoT Security” market is estimated to witness a CAGR of XX% during the forecast period 2017–2023. The increase in mobile & internet subscriber base, online shoppers, online transactions, government initiatives related to infrastructure activities, and growing economy are some of the major drivers for the market growth. Further, the increasing growth rate of IoT innovations and adoption is expected to support the IoT security market growth in Asia Pacific. Some of the players included in the report are Cisco, IBM, Oracle, Symantec, Intel, Fire Eye, and Infineon.
The Asia Pacific IoT Security market study covers and analyzes the “Asia Pacific IoT Security” market. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.