As the Internet of Things (IoT) is gradually moving from being a centralized structure to a more complex network of innumerable decentralized smart devices, the need for security of data will be acknowledged to a greater degree, thereby promoting the expansion of the global IoT security market. The larger the volume of the data transferred over to IoT, the bigger the risk of device manipulation, IP theft, identity theft, data falsification, and network or server manipulation.   

By type, endpoint security, cloud security, network security, and application security could be the key segments of the global market for IoT security. Manufacturing, energy and utilities, government, defense, information technology (IT) and telecommunication, banking, financial services, and insurance (BFSI), transportation, logistics, and retail can be the major segments of the market based on application. 

All facets of the global IoT security market pertaining to the growth drivers, challenges, supply and demand, and current trends have been discussed in the report. The market size, historical developments, present scenario, and projected estimations have been revealed, together with relevant statistical data, charts, and figures. The progress of the key market players has also been mapped under the competitive landscape. 

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With the emergence of technologies such as cloud, a large volume of data faces threat from cyber-crime. The exceeding popularity of social media has also resulted in vulnerability to identity theft and data theft. Consequently, stronger platforms that combat cyber threats are being continuously developed by several firms. Moreover, the excessive usage of smartphones, laptops, and tablets has further led to the exposure of personal data.