Global Wearable Devices Cybersecurity Market by Device type, Security type, Industry and Forecasts to 2023

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Overview:

Wearable devices have become increasingly popular in the recent years mainly due to their consumer-focused offerings and a wide range of device connectivity.  These devices carry massive amounts of user data ranging from user demographics and electronic health record (EHR). These may open the scope for possible security vulnerabilities, such as data exfiltration, proximity based vulnerabilities, account harvesting intercepting data while using a Pairing App or Bluetooth to connect with other IoT gear, point-to-point networking, new Wi-Fi networks and others. Often, it could lead to remote code execution, poodle attack, covert account takeover, obtaining an IMEI, location spoofing and others.

Most of the wearable devices that are being used today can prevent unauthorized access with device encryption; however, some of them have been found to be vulnerable to security threats while transferring data to cloud or paired with a personal device. Hence, security solutions developers are devising a two-factor authentication, and password-free web security to eliminate the security vulnerability, by implementing blockchain based security solutions to improve the level of device safety. The value chain players, such as device integrators, mobile app makers, enterprises, wearable device OEMs, and security companies are likely to enter into collaborative partnerships to bring advanced device security intelligence strategies for both consumers and enterprises.

According to Infoholic Research, the “Wearable Devices Cybersecurity Market” market is expected to become a $702.6 million market, by growing at a CAGR of 16.4% during the forecast period 2017–2023.

Market analysis:

Wearable devices are segmented into Smartwatch, Head-mounted display, Body-worn camera and Others. The smartwatch segment includes, wrist bands, fitness bands and smart watches. The head mounted display segment includes, AR/VR devices and smart glasses. Smart watches are the dominating sub-segment which is expected to account for more than 69% of the segment’s revenues, followed by head mounted displays. The devices that are needed for cybersecurity accounts for less than 10% of the total wearables that are in use today. However, this segment is currently driven by increasing cyber vulnerabilities. Increasing information storage in the wearables would lead to a trend, cybersecurity as a commodity.

The Security Types include, Cloud Security, Application Security, Network Security and others. Currently, cloud security and application security solutions are quite popular among cybersecurity vendors and consumers, owing to their vital range of security capabilities. The network security is expected to continue grabbing attention from the vendors and wearable device OEMs owing to the increasing network level authentication vulnerabilities and data breaches.

The industries include, Healthcare, Corporate & IT, Manufacturing, Retail, Automotive, BFSI, Government and Others. The healthcare industry is the leading adopter of wearable device cyber security as the devices comprises huge volumes of customer data including, user’s health, demographic details, biometric passwords and others. The vital use cases of wearables have led to the need for cyber security across the industries.

Regions:

The Americas, and Europe are most likely to hold a larger share in the wearable security solutions market and Asia is expected to become an emerging adopter of wearable device security solutions by 2023. The market growth in Asia will be largely due to the increasing demand from China, Japan, and the Southeast Asian countries. The Middle East and Africa are expected to contribute to the innovation in wearable device security solutions mainly due to Israeli cybersecurity start-ups.

Vendors:

The report provides details about the Worldwide Wearable Device Security market. The report also contains an in-depth analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategies, and views; and competitive landscape. The companies included in the report are Apple Inc., Google, IBM, Microsoft Corporation, Argus Cyber Security, Arilou Cyber Security, ESCRYPT – Embedded Security, Karamba Security, and Secunet Security Networks AG.

By Device Type:

  • Smartwatch
  • Head-mounted display
  • Body-worn camera
  • Others devices

By Security Type

  • Application security
  • Network security
  • Cloud security

By Industry

  • Healthcare
  • Enterprise &IT
  • Manufacturing
  • Retail
  • Automotive
  • BFSI
  • Government

1     Industry Outlook 

1.1        Industry Overview

1.2        Industry Trends

1.3        PEST Analysis

2     Report Outline 

2.1        Report Scope

2.2        Report Summary

2.3        Research Methodology

2.4        Report Assumptions

3     Market Snapshot

3.1        Total Addressable Market

3.2        Segmented Addressable Market

4     Market Outlook 

4.1        Overview

4.2        Market Trends

4.3        Porter 5 (Five) Forces

5     Market Characteristics

5.1        Evolution

5.2        Ecosystem

5.3        Market Segmentation

5.4        Market Dynamics

5.4.1     Drivers

5.4.1.1    Increasing adoption of BYOD among enterprises

5.4.1.2    Increasing focus on wearable security

5.4.1.3   Increasing compliance norms by regulatory body specific to wearable

5.4.2     Restraints

5.4.2.1    Challenges in IoT security design

5.4.2.2    High initial investments for SMEs

5.4.3     Opportunities

5.4.3.1    Next generation of enterprise wearables

5.4.3.2    Digitization of Supply Chain Management

5.5        DRO – Impact Analysis

6     Device Types: Market Size and Analysis

6.1        Overview

6.2        Smartwatch

6.3        Head-mounted display

6.4        Body-worn camera

6.5        Others

7     Security Type: Market Size and Analysis

7.1        Overview

7.2        Application Security

7.3        Network Security

7.4        Cloud Security

8     Industry: Market Size and Analysis

8.1        Overview

8.2        Healthcare

8.3        Enterprise & IT

8.4        Manufacturing

8.5        Retail

8.6        Automotive

8.7        BFSI

8.8        Government

9     Regions: Market Size and Analysis

9.1        Overview

9.2        Americas

9.2.1     Overview

9.2.2     US  48

9.2.3     Canada

9.2.4     Brazil

9.2.5     Mexico

9.3        Europe

9.3.1     Overview

9.3.2     UK  53

9.3.3     Germany

9.3.4     Spain

9.3.5     France

9.3.6     Sweden

9.3.7     Switzerland

9.3.8     Russia

9.4        Asia Pacific

9.4.1     Overview

9.4.2     China

9.4.3     Japan

9.4.4     South Korea

9.4.5     Malaysia

9.4.6     Indonesia

9.4.7     Singapore

9.4.8     Australia & New Zealand

9.5        Middle East & Africa

9.5.1     Overview

9.5.2     UAE

9.5.3     Saudi Arabia

9.5.4     Turkey

9.5.5     Kuwait

9.5.6     Egypt

9.5.7     Israel

9.5.8     South Africa

10   Vendors Profiles

10.1     Google Inc.

10.1.1  Overview

10.1.2  Business Units

10.1.3  Geographic Revenue

10.1.4  Business Focus

10.1.5  SWOT Analysis

10.1.6  Business Strategies

10.2     Microsoft Corporation

10.2.1  Overview

10.2.2  Business Focus

10.2.3  SWOT Analysis

10.2.4  Business Strategies

10.3     IBM

10.3.1  Overview

10.3.2  Business Units

10.3.3  Geographic Revenue

10.3.4  Business Focus

10.3.5  SWOT Analysis

10.3.6  Business Strategies

10.4     Apple Inc.

10.4.1  Overview

10.4.2  Business Units

10.4.3  Geographic Revenue

10.4.4  Business Focus

10.4.5  SWOT Analysis

10.4.6  Business Strategies

11   Companies to Watch for

11.1     Argus Cyber Security

11.1.1  Overview

11.1.2  Solutions: Argus Cyber Security

11.2     Arilou Cyber Security (part of NNG Group)

11.2.1  Overview

11.2.2  Solutions: Arilou Cyber Security

11.3     ESCRYPT – Embedded Security

11.3.1  Overview

11.3.2  Offerings: ESCRYPT

11.4     Karamba Security

11.4.1  Overview

11.4.2  Solutions: Karamba Security

11.5     Secunet Security Networks AG

11.5.1  Overview

11.5.2  Solutions: Secunet Security Networks AG

12   Mergers & Acquisitions

13   Competitive Landscape 

13.1     Competitor Comparison Analysis

Annexure 

Abbreviations

Infoholic research works on a holistic 360° approach in order to deliver high quality, validated and reliable information in our market reports. The Market estimation and forecasting involves following steps:

  • Data Collation (Primary & Secondary)
  • In-house Estimation (Based on proprietary data bases and Models)
  • Market Triangulation
  • Forecasting

infoholic Research Methodology

Market related information is congregated from both primary and secondary sources.

Primary sources involved participants from all global stakeholders such as Solution providers, service providers, Industry associations, thought leaders etc. across levels such as CXOs, VPs and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.

Secondary sources include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications along with paid sources such as Factiva, OneSource, Bloomberg among others.