According to a new report, published by KBV research, The Global IoT Security Market size is expected to reach $165.08 billion by 2032, rising at a market growth of 25.2% CAGR during the forecast period.
The Services segment captured a CAGR of 26% during (2025 - 2032). As businesses adopt IoT at scale, they require ongoing support for implementation, risk assessment, threat analysis, and compliance management. The increasing reliance on managed security services, especially among small and medium-sized enterprises (SMEs), is a key contributor to this segment’s growth. Moreover, the dynamic nature of cyber threats has led companies to seek continuous security updates, monitoring, and consulting services to ensure their systems remain resilient and up to date.
The Network Security segment is leading the Global IoT Security Market by Security Type in 2024, thereby, achieving a market value of $52.47 billion by 2032. The primary factor driving the expansion of the network security segment is the growing volume of data being transmitted between IoT devices and central systems. As interconnected networks become more intricate and pervasive, the likelihood of unauthorized access, data interception, and DDoS attacks increase significantly. Organizations focus on deploying network-level defenses such as firewalls, VPNs, intrusion detection systems, and secure gateways to protect their infrastructure. The rising threat of network-based attacks and the need for real-time traffic monitoring and control are key factors fueling demand in this segment.
The Manufacturing segment exhibits a CAGR of 24.4% during (2025 - 2032). The rise of Industrial IoT (IIoT) and smart factory initiatives drives the need for robust IoT security solutions in manufacturing. Manufacturers are integrating connected sensors, robotics, and automation systems to enhance productivity and real-time decision-making. However, this connectivity also introduces vulnerabilities related to system downtime, data theft, and sabotage. The increasing focus on securing production lines, machinery, and intellectual property fuels the demand for tailored IoT security solutions in manufacturing environments.
Full Report: https://www.kbvresearch.com/iot-security-market/
The North America region dominated the Global IoT Security Market by Region in 2024; thereby, achieving a market value of $55.66 billion by 2032. The Europe region is expected to witness a CAGR of 24.8% during (2025 - 2032). Additionally, The Asia Pacific region would register a CAGR of 25.8% during (2025 - 2032).
By Component
By Security Type
By End-use
By Geography
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