The global IoT Cybersecurity market is projected to witness a decent growth pace over the forecast year with the increasing application of IoT devices in various applications. The IoT enabled devices elevates the wireless communication services and provides seamless digital connectivity to the customer even to operate its daily tasks.
The higher internet penetration across the global market and the substantial proliferation of smart mobile phones and tablets have further increased the pace of IoT adoption. The adoption of IoT based services is subsequently going to provide growth for the IoT cybersecurity market. To keep all the IoT based components and solutions bound in a loop and help them to operate effectively. The application and importance of IoT cybersecurity services are expected to witness skyrocketing growth in the market.
Additionally, the overall challenge that the IoT solution providers are witnessing includes an imminent shortage of supply in terms of device components and sub-parts that has slowed down due to a disruption in the global supply chain. For instance, in the manufacturing industry, the global shipment witnessed a downfall in the Q1 of 2020 due to the temporary shutting down of the manufacturing plants mainly in China (the global leader in the manufacturing of electrical and electronic items) that led to the reduced production.
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Further, as stated by the United Nations Industrial Development Organization (UNIDO), the manufacturing industry has seen a major setback after the fourth quarter of 2019, primarily due to the disruptions in the supply chain and the temporary shutdown of all the activities.
According to Straits Analysis, key players in the global IoT Cybersecurity market are ESCRYPT Embedded Systems, Arilou technologies, Cisco Systems, Inc., HARMAN International, Argus Cyber Security Ltd., BT, Trillium Technologies Pte Ltd., secunet Security Networks AG, Karamba Security, Guardtime, Utimaco TS GmbH, NXP Semiconductors, Intel Corporation, and SBD Automotive & Ncc Group, among others.
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast Periods
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