Overview of the global M2M network security market
According to Technavio’s analyst, the global M2M network security market is anticipated to grow rapidly and post a CAGR of close to 27% during the forecast period. The increasing number of deployment of long-term evolution (LTE) wireless broadband will drive the growth prospects for the global M2M network security market until the end of 2021. With the growing need for applications such as automotive infotainment, video surveillance, and emergency services, the demand for higher bandwidth and speed also increases. As a result, the demand for 3G and 4G LTE service and the large-scale deployment of LTE networks increases, which, in turn, will fuel the growth of the M2M network security market. In addition, the market is witnessing a high requirement for low-cost LTE modules in developing countries due to the growing penetration of LTE and the increased demand for high-speed internet connection among consumers and enterprises. Consequently, the number of investments on M2M network security will also increase in the coming years.
The increasing demand for M2M in consumer electronics will drive the growth prospects for the global M2M network security market for the next four years. The increasing use of M2M in consumer electronics results in the growing demand for gadgets and devices, which enable access to the internet for easy data transmission. In addition, to ensure secure data transmission, the demand for M2M network security solutions will further increase.
Competitive landscape and key vendors
The global M2M network security market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. According to the industry research report, several vendors are increasingly focusing on acquiring smaller vendors to expand their product portfolio and increase their market share. It has been observed that a large number of vendors are increasingly developing products with improved features such as encryption and authentication of data, application hosting, policy server, firewall-friendly agents, and web-based management portal using enhanced technical and financial resources.
Key vendors in this market are -
Other prominent vendors in the market include Digi International, EUROTECH, NetComm Wireless, Netop, Novatel Wireless, Option, SIMCom Wireless Solutions, Systech, Telit, and Ventus.
Segmentation by end-user and analysis of the M2M network security market
The utility sector accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. Some of the major factors responsible for the market segment's growth are the rising security concerns against cyber attacks and the demand for increased operational efficiency. In addition, since M2M security solutions enable utility enterprises to meet their distribution automation requirements by ensuring maximum efficiency and network security protocols, the demand for these solutions will further increase in the coming years.
Segmentation by geography and analysis of the M2M network security market
In terms of geography, Europe accounted for the majority market share during 2016 and will continue to dominate the market during the forecasted period. Some of the major factors responsible for the market's growth in the region is the increasing adoption of machine to machine (M2M) applications and Internet of things security (IoT), M2M network attacks and vulnerabilities in government infrastructure, and the rising number of government and regulatory initiatives.
Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global M2M network security market?
What are the key market trends impacting the growth of the global M2M network security market?
What are the challenges to market growth?
Who are the key vendors in the global M2M network security market?
What are the market opportunities and threats faced by the vendors in the global M2M network security market?
What are the trending factors influencing the market shares of APAC, Europe, MEA, North America, and South America?
What are the key outcomes of the five forces analysis of the global M2M network security market?
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