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TECH SUPPLIER Jun 2019 - Market Forecast - Doc # US45271119

Worldwide Internet of Things Security Products Forecast, 2019–2023

By: Robert WesterveltResearch Director, Security Products

Abstract

This IDC study reflects market trends in hybrid and multicloud data environments, which has increased complexity, prompting organizations to identify security and compliance solutions to address emerging data security requirements from IoT devices into distributed repositories. This IDC study provides the five-year forecast (2019–2023) for the Internet of Things security products market and delivers insight into drivers of market growth.

"The Internet of Things security products market continues to be driven by the need to leverage data from IoT devices and other sources to gain a competitive advantage, improve productivity, and create new services," says Robert Westervelt, research director, Internet of Things Security Strategies research at IDC. "We are seeing a trend where established network security vendors and best-of-breed network security providers are penetrating into operational technology environments to give security teams greater visibility and ability to respond to disruptive ransomware attacks and other threats that can have a severe impact on production. As more enterprises see value in adding nonintrusive security into these environments, I would expect continued growth in this market."


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