Global IoT security to see double digit growth: Page 2 of 2

August 19, 2019 //By Jean-Pierre Joosting
Global IoT security to see double digit growth
An intelligence report by BIS Research, titled "Global IoT Security Market”, finds that the global IoT security market is projected to grow over $51.42 billion by 2024.

As stated by Arpit Benjwal, Principal Analyst at BIS Research, "The IoT security market is witnessing a high growth rate due to the inclination of consumer and enterprises toward safe and secure communication. Moreover, the demand for cloud security solutions is further going to increase in the coming years owing to the launch of more number of cloud service platforms for security and storage purposes. Further, the growth of IoT security market in North America is the highest, due to strong economic growth, high disposable income, and efforts made by government and federal bodies to mandate security regulations in the region. The  market in this region is expected to grow at a CAGR of 22.56% during the forecast period (2019-2024)."

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