Cellular Connectivity IoT Network Security Market

Market Overview:

The global cellular connectivity IoT network security market size reached US$ 3.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.5 Billion by 2028, exhibiting a growth rate (CAGR) of 16.5% during 2023-2028.

Cellular connectivity IoT network security refers to a cybersecurity strategy and protection mechanism that safeguards the integration of telecommunication devices with the internet. It protects from security threats and breaches, identifies and monitors risks, and can help fix vulnerabilities. Cellular connectivity IoT network security services offer a variety of solutions, including identity access management, data encryption and tokenization, intrusion prevention system, device authentication and management, etc. Owing to this, they find extensive applications across several industries, such as energy and utilities, manufacturing, automotive, transportation, etc.

Cellular Connectivity IoT Network Security Market Trends:

The rising incidences of cyber threats and security breaches along with the increasing popularity of IoT-based solutions are primarily driving the global cellular connectivity IoT network security market. In line with this, the growing consumer concerns towards unauthorized intrusions in the corporate sector to prevent data losses and secure the network infrastructures are also catalyzing the market growth. Moreover, the elevating prominence of Narrowband Internet of Things (NB-IoT) solutions that are integrated with the existing mobile networks to provide enhanced end-to-end security, encrypted data transfer, device-level access and authentication, etc., is further augmenting the global market. In addition to this, the widespread adoption of Enterprise Virtual Private Network (VPN) servers in response to the COVID-19 pandemic, as many employees transitioned to a work-from-home operating model and students switched to e-learning platforms, is creating a positive outlook for the market. Furthermore, the emerging trend of industrial automation is also stimulating the deployment of cellular connectivity IoT network security technology for improving network reliability, enhancing wireless connectivity, efficiently managing IoT deployments, etc. Besides this, numerous stringent regulations imposed by several government bodies have enforced companies to seek high-end cellular connectivity IoT network security measures. For instance, in 2022, the UK introduced the Product Security and Telecommunications Infrastructure (PSTI) Bill that requires manufacturers, importers, and distributors to comply with security requirements relating to connectable consumer products. Various other factors, such as the increasing commercialization of 5G, the rising utilization of cellular IoT in weather monitoring and infrastructure security, and continuous advancements in the telecommunication sector, are expected to drive the global cellular connectivity IoT network security market in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global cellular connectivity IoT network security market report, along with forecasts at the global and regional levels from 2023-2028. Our report has categorized the market based on end use industry.

Breakup by End Use Industry:

• Telecom
• Manufacturing
• Energy and Utilities
• Healthcare
• Government
• Transportation
• Others
   

Breakup by Region:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Aeris, Allot, Asavie (Akamai Technologies), Check Point Software Technologies Ltd, Emnify, Ericsson AB, FirstPoint, FORESCOUT, Fortinet, Inc., Pod Group (Giesecke+Devrient), Nokia, Palo Alto Networks, SUBEX, Tempered Networks, Inc. and ZARIOT.

Report Coverage:

Key Questions Answered in This Report:

• How has the global cellular connectivity IoT network security market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global cellular connectivity IoT network security market?
• What are the key regional markets?
• What is the breakup of the market based on the end use industry?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global cellular connectivity IoT network security market and who are the key players?
• What is the degree of competition in the industry?