Market overview of M2M network security market
Technavio’s research analyst predicts the global M2M network security market to grow at a CAGR of approximately 24% during the forecast period. The utilities and automotive sectors are major adopters of M2M network security solutions. With an increase in adoption of M2M by enterprises, maintaining security becomes essential to ensure the confidentiality of data during transmission within the network.
This market research report emphasizes the growing need for a high level of network security in M2M services and technology. The market is witnessing a growing prevalence of M2M devices in connected health and connected car services that require security for data transmission. Given the rapid adoption of cellular M2M, the market revenues are predicted to surge significantly over the next four years.
End-user segmentation of the M2M network security
- Consumer electronics
- Intelligent buildings
- Others (include manufacturing, retail, financial services, logistics, and transportation)
As per the forecast, the demand for M2M network security in the utility sector is expected to decline by the end of 2020 because of saturation of investments in the utility sector in M2M. However, the market share of the healthcare sector is likely to grow because of the innovations in mHealth, and it presents significant growth opportunities for organizations that are looking to capitalize on wireless healthcare innovations.
Geographical segmentation of the M2M network security market
- Latin America
- North America
Europe dominates the market with a number of countries within the region contributing to its growth. Europe leads the adoption of M2M network security because of the high concentration of M2M applications and devices in large enterprises and SMEs in this region.
Vendor landscape of the M2M network security market
Cisco, though a late entrant to the market, continues to hold a key position. It has entered into cellular-based router product platforms through the launch of their hardened routers that have the option of 3G / 4G connectivity. These routers are on the higher side in terms of both functionality and price and are more of a niche product in M2M market.
With similar product launches and investments in R&D, the competitive environment of this market is expected to intensify in the coming years. The market is also likely to witness a growing trend of local acquisitions by the leading players. The key players in this market are likely to diversify their geographical presence with a focus on the APAC region during the forecast period.
The top four leading vendors of the market include -
- Kore Wireless
- PTC (Axeda)
The other prominent vendors of the market include Digi International, EUROTECH, NetComm Wireless, Novatel Wireless, Option, Systech, Telit, and Ventus.
Key questions answered in the report
- What will be the market size and growth rate be in 2020?
- What are the key factors driving the global M2M network security market?
- What are the key market trends impacting the growth of the M2M network security market?
- What are the challenges to the market growth?
- Who are the key vendors in this market?
- What are the market opportunities and threats faced by the vendors in the M2M network security market?
- What are the trending factors influencing the market shares of the Americas, APAC, Europe, and MEA?
- What are the key outcomes of the five forces analysis of the global M2M network security market?