Verizon, Cisco, AT&T Named Leading Vendors in IoT Security

The global Internet of Things (IoT) security market is expected to grow from $6.62 billion this year to just over $29 billion by 2022 at a compound annual growth rate (CAGR) of more than 34 percent, with Verizon, Cisco and AT&T among the major vendors.
That’s according to a new report by MarketsandMarkets.
Other major vendors include PTC, Symantec, Trustwave, Check Point Security Software Technologies, IBM, Infineon Technologies, Gemalto NV, Trend Micro and Digicert.
In all, the global IoT market is expected to grow from almost $171 billion this year to $561 billion by 2022, MarketsandMarkets says.
Network security is expected to hold the largest share of the IoT security market.
Wireless communication is carried out with the help of various secure protocols such as LPWAN, Zig-bee, 6LowPAN, Bluetooth, Z-Wave and NFC.
Technologies such as Bluetooth Low Energy, IEEE 802.15.4 and IEEE 802.11ah play a significant role in IoT connectivity.
These networking technologies are more susceptible to cyberattacks and hence it holds the largest market share during the forecast period.

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