Global M2M Network Security Market 2017-2021
About M2M Network Security
M2M network security solutions include hardware products, software products, and managed security services that are used to detect and prevent unauthorized access, misuse, breakdown of M2M networks, and attempts to disable/destroy M2M networks.
Technavio’s analysts forecast the global M2M network security market to grow at a CAGR of 26.27% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global M2M network security market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of M2M network security products, which include embedded SIMs and gateways.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global M2M Network Security Market 2017-2021
Technavio recognizes the following companies as the key players in the global M2M network security market: Cisco Systems, Gemalto, Kore Wireless, Numerex, and PTC (Axeda).
Other Prominent Vendors in the market are: Digi International, EUROTECH, NetComm Wireless, Netop, Novatel Wireless, Option, SIMCom Wireless Solutions, Systech, Telit, and Ventus.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increased demand for M2M in consumer electronics. M2M systems were mainly used by businesses and public organizations, but now they are used more widely in smart homes, different fitness gadgets, for tracking goods and assets, and in the entertainment sector. As new technologies and IoT ecosystem evolve, gadgets and devices will be affordable for everyone. However, the systems are still not very extended for mid-market consumers. IoT allows entertainment gadgets to be constantly connected to the Internet, which means that the users can access all types of media and up-to-date content.”
According to the report, one of the major drivers for this market is increase in number of connected devices. By 2019, the number of connected devices, including portable navigation devices, media players, and imaging devices with cellular connections, is expected to reach approximately 448.04 million units. These devices are connected to each other through advanced M2M modules, smart sensors, and software for entertainment, personal, and official applications. An increase in the number of devices makes it increasingly difficult to monitor, manage, and maintain. M2M network helps the end-users to simplify the management and maintenance of portable devices, resulting in the growth of the M2M network security market for efficient data transmission.
Further, the report states that one of the major factors hindering the growth of this market is technical defects and related high costs of M2M network security solutions. The lack of accuracy of the M2M network security solutions is a major challenge that affects the profits of the vendors. Technical defects, server errors, and other malfunctions caused by hacking are some of the major issues faced by the vendors. Therefore, to ensure low error rate and high accuracy, vendors must conduct a number of trial runs before introducing M2M network security solutions in the market. This increases the cost of the products restricting their adoption among price-conscious end-users such as SMEs. It is therefore difficult for vendors to maintain a balance between accuracy and the price.
Cisco Systems, Gemalto, Kore Wireless, Numerex, PTC (Axeda), Digi International, EUROTECH, NetComm Wireless, Netop, Novatel Wireless, Option, SIMCom Wireless Solutions, Systech, Telit, and Ventus.
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