IoT Security Market Growth, Demand and Forecast 2020-2025 | Covid-19 Impact Analysis – Cole Reports
As per the latest report by IMARC Group, titled “IoT Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global IoT security market size reached US$ 10.2 Billion in 2019. Internet of things (IoT) assists in creating smart communication environments by connecting devices like industrial equipment and consumer objects to a network, gathering information and managing these devices using software to increase efficiency. Some of the key components of IoT are radio frequency identification (RFID), wireless sensor network (WSN), near field communication (NFC), cloud services, gateways, data storage and analytics, and visualization elements. At present, there is a rise in the demand for IoT security as it eradicates vulnerabilities and equips IoT devices with the means to detect, resist and recover from malicious attacks.