INTERNET OF THINGS (IOT) SECURITY MARKET ANALYSIS

Market Challenges And Opportunities

Increasing smart city initiatives, globally, is also another factor expected to fuel market growth. For instance, in 2015, Government of India launched "100 Smart Cities Mission". Some of the important elements in smart city initiatives involve digitalization and deploying Wi-Fi hotspots at various locations. Public Wi-Fi network do not provide security and use shared passwords. Hence, this facility is prone to cyber-attacks. Therefore, IoT security helps to enhance the security through a unique technology called ‘User Pre-Shared Key’ (UPSK) for every devices within the network to ensure device security. Such features of IoT security are expected to fuel growth of the global IoT market.