IoT Security Market Size To Reach $141.77 Billion By 2030

IoT Security Market Growth & Trends

The global IoT security market size is expected to reach USD 141.77 billion by 2030, registering a CAGR of 26.8% from 2025 to 2030, according to a new report by Grand View Research, Inc. Surging demand for enhanced privacy is driving the market. Increasing government efforts to implement stringent regulations to restrict the amount of data collected by IoT devices by industries such as BFSI, retail, and healthcare is expected to stimulate the growth of the market.

Safeguarding the future of internet-connected devices by robustly configuring necessary/next-generation security features and increasing transparency as well as providing consumers with a choice to opt-out of data collection are some of the key factors driving the market over the forecast period.

Increasing the use of 3G and 4G long-term evolution (LTE), as well as wireless networks and technologies, is augmenting the risk of cyber-attacks. Real-time information and transaction-related information, which are crucial to users, is exchanged through these cellular networks; thereby, giving rise to the need for IoT security. Currently, the implementation of the internet is rising exponentially in areas such as health monitors, smart home appliances, smart city projects, and smart retails, which has created the necessity for IoT security.

Adoption of cloud technologies by various organizations for storing confidential data gives rise to the risk of unauthorized access to data. Moreover, the growing trend of bring your own device (BYOD) is increasing concerns regarding data security. Therefore, several organizations and enterprises demand effective security solutions. Thus, a robust security solution, such as integration of firewalls and data loss prevention with IoT security solutions, strengthens organization posture to face cyber threats.

However, lack of awareness about the benefits and availability of IoT security solutions is hampering the growth of the market. The high cost of installation is also a stumbling stone in the growth of the market. Lack of expertise in technical handling, cling to regulatory compliance, and low budget for implementing new strategies are also some of the factors inhibiting the growth of the market.

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IoT Security Market Report Highlights

• Solutions dominated the market with a 67.5% share in 2024. With IoT devices becoming more prevalent, the complexity and frequency of cyber-attacks have escalated, requiring advanced security solutions.

• Network security dominated the market in 2024 due to the escalating frequency and severity of cyber-attacks.

• Energy and utility held a dominant market share of 19.6% in 2024 due to the rising adoption of smart grids and smart meters. These technologies enable real-time monitoring and management of energy consumption, which is crucial for optimizing energy use and enhancing grid reliability.

• The North America IoT security market dominated the global revenue with a 35.0% share in 2024 owing to the increased frequency and sophistication of cyber-attacks.

• The Asia Pacific IoT security market registered a 26.5% share in 2024 and is expected to grow at the fastest CAGR over the forecast period.

IoT Security Market Segmentation

Grand View Research has segmented global IoT security market report based on component, security type, end-use, and region:

IoT Security Component Outlook (Revenue, USD Billion, 2018 - 2030)

• Solutions

• Services

IoT Security Security Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Network Security

• Endpoint Security

• Application Security

• Cloud Security

• Others

IoT Security End-use Outlook (Revenue, USD Billion, 2018 - 2030)

• Energy and Utilities

• Manufacturing

• Automotive

• Transport

• Consumer Electronics

• Healthcare

• Others

IoT Security Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • South Korea

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

List of Key Players of IoT Security Market

• Microsoft

• Amazon Web Services, Inc.

• Google

• IBM

• Intel Corporation

• Cisco Systems, Inc.

• Telefonaktiebolaget LM Ericsson

• Thales TCT

• Allot

• Atos SE