Internet of Things IoT Security Technology Market Insights Video

According to Cognitive Market Research, the global Internet of Things IoT Security Technology market size was USD 15654.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 30.40% from 2024 to 2031.

• North America held the major market share for more than 40% of the global revenue with a market size of USD 6261.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 28.6% from 2024 to 2031.
• Europe accounted for a market share of over 30% of the global revenue with a market size of USD 4696.35 million.
• Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 3600.54 million in 2024 and will grow at a compound annual growth rate (CAGR) of 32.4% from 2024 to 2031.
• Latin America had a market share of more than 5% of the global revenue with a market size of USD 782.73 million in 2024 and will grow at a compound annual growth rate (CAGR) of 29.8% from 2024 to 2031.
• Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 313.09 million in 2024 and will grow at a compound annual growth rate (CAGR) of 30.1% from 2024 to 2031.
• The Hardware category is the fastest growing segment of the Internet of Things IoT Security Technology industry