The Europe IoT Security Market Report is Segmented by Security Type (Network Security, Endpoint Security, Application Security, and More), Solution (Hardware, Software, and Services), Deployment Mode (On-Premise and Cloud), End-User Industry (Automotive and Transportation, Healthcare and Life Sciences, Government and Defence, and More), and Country. The Market Forecasts are Provided in Terms of Value (USD).

In 2022, Germany was the largest regional market for consumer IoT market in Europe amounting to around *** billion U.S. dollars. Between 2023 and 2030, the German market was forecast to grow by a compound annual growth rate of **** percent, reaching a projected **** billion U.S. dollars in 2030. More information on the global consumer IoT market can be found here.

The European Internet of Things (IoT) security market is experiencing robust growth, driven by the increasing adoption of connected devices across various sectors. The market, valued at approximately €[Estimate based on Market Size XX and assuming XX is in Millions of Euros, if not convert it to Millions of Euros] million in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 11.85% from 2025 to 2033. This expansion is fueled by several key factors. Firstly, the escalating concerns surrounding data breaches and cyberattacks targeting IoT devices are compelling organizations across industries like automotive, healthcare, and manufacturing to prioritize robust security solutions. Secondly, the ongoing shift towards cloud-based infrastructure and the increasing prevalence of smart devices are creating a larger attack surface, further stimulating demand for comprehensive security measures. Finally, the implementation of stringent data privacy regulations, such as GDPR, is driving businesses to enhance their IoT security posture to ensure compliance and mitigate potential penalties. The market is segmented by security type (Network, Endpoint, Application, Cloud, Other), solution type (Software, Services), and end-user industry (Automotive, Healthcare, Government, Manufacturing, Energy & Power, Retail). Within these segments, growth is particularly strong in cloud security solutions and services due to the increasing adoption of cloud-based IoT deployments. While the market faces certain restraints, such as the high cost of implementation and the complexity of managing IoT security across diverse environments, these challenges are likely to be offset by the considerable benefits of enhanced security and regulatory compliance. The competitive landscape is characterized by a mix of established players and emerging innovative firms, leading to intense competition and continuous advancements in security technologies. Specific regional analysis reveals that the United Kingdom, Germany, and France are currently major contributors to the European market's growth. The projected growth of the European IoT security market through 2033 is underpinned by the continuous evolution of IoT technology and its integration into diverse sectors. The automotive industry, with its increasing reliance on connected vehicles, is a major driver, demanding secure solutions to protect against potential vulnerabilities and ensure driver safety. The healthcare sector, witnessing a surge in the deployment of medical IoT devices, is also a significant contributor, prioritizing the protection of sensitive patient data. Government organizations and critical infrastructure providers are increasingly adopting IoT security to safeguard their systems from cyber threats. The market's continuous expansion will likely see increased investment in research and development, leading to innovations in areas such as AI-powered threat detection, blockchain-based security solutions, and improved cybersecurity awareness training. This sustained growth trajectory is supported by the anticipated increase in IoT device deployments across various industry verticals and the prevailing need for robust security measures to safeguard data and protect critical infrastructure. Recent developments include: November 2022 - Sophos Launched Managed Detection and Response (MDR) Service from an endpoint security provider that integrates vendor-agnostic telemetry. MDR is capable of threat detection and response capabilities. MDR offers unprecedented visibility and detection across diverse operating environments., November 2022 - Wipro launches European cyber security consultancy services. Wipro, a technology services and consulting provider has launched a strategic cyber security consulting service in Europe that is intended to give clients a complete solution to cope with security threats. Customers will have access to the whole range of cyber security capabilities offered by the organization, from strategy and execution to managed services, owing to the new offering accessible through Wipro CRS Europe., September 2022 - The European Commission launches a new Cyber Resilience Act to secure IoT devices in Europe. The Act prescribes minimum security standards for connected devices during product development and throughout the product life cycle to increase the security of European IoT software and hardware. In addition to holding manufacturers responsible for ensuring that their products are digitally secure, the Act will provide customers with further information about the security of their gadgets., January 2022- Based on Govt. United Kingdom report, the government of the United Kingdom provides software and technical assistance to Unite Kingdom entrepreneurs to help their growth. From the beginning of January 2022, applications are set to be open for the government's Help to Grow: Digital schemes, which assist smaller businesses in implementing digital technologies in favor of growth. Moreover, the project also provides businesses with discounts of up to £5,000 ( USD 5266.50) on approved Digital Accounting and Customer Relations Management (CRM) software. The government provides a dedicated website for this scheme, which offers free and impartial support and is currently operational to boost businesses' digital skills.. Key drivers for this market are: Increasing Number of Data Breaches, Emergence of Smart Cities. Potential restraints include: Growing Complexity among Devices, Coupled with the Lack of Ubiquitous Legislation. Notable trends are: Increasing Number of Data Breaches is Expected to Boost the Demand.

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Europe Industrial IoT Market by Component (Hardware, Platform, Services, Connectivity), Industry Vertical (Agriculture, Manufacturing, Energy & Utilities, Oil & Gas, Aerospace, Retail, Transportation & Logistics, Others) Geography - Forecast to 2032

Europe was the second largest regional market for consumer IoT market in 2022 amounting to around ** billion U.S. dollars. Between 2023 and 2030, the European market was forecast to grow by a compound annual growth rate of **** percent, reaching a projected **** billion U.S. dollars in 2030.

More information on the global consumer IoT market can be found here.

Europe Massive IoT market USD 21755.58 million in 2024 and will grow at a compound annual growth rate (CAGR) of 21.7% from 2024 to 2031. High investment in advanced technology is expected to aid the sales to USD 88724.3 million by 2031

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IoT Platform Market Size 2024-2028

The iot platform market size is forecast to increase by USD 20.72 billion, at a CAGR of 26.06% between 2023 and 2028.

The Internet of Things (IoT) platform market is experiencing significant growth, driven by the large-scale benefits of using IoT devices in various industries. The integration of IoT technology is revolutionizing business operations, enabling real-time data collection, analysis, and automation. This leads to increased efficiency, cost savings, and improved customer experiences. However, the market faces challenges as well. The development of open Wi-Fi networks, while beneficial for connectivity, also poses security risks. Ensuring data privacy and security is becoming increasingly important as more devices become connected.
Additionally, the complexity of managing and integrating multiple IoT devices and platforms can be a significant challenge for organizations. Addressing these challenges requires a strategic approach, including robust security measures and effective device management solutions. Companies seeking to capitalize on the opportunities presented by the market must focus on delivering secure, user-friendly, and scalable solutions to meet the evolving needs of their customers.

What will be the Size of the IoT Platform Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The Internet of Things (IoT) platform market continues to evolve, driven by the increasing deployment of wireless sensors and the adoption of open-source platforms. The integration of application programming interfaces (APIs) and system architecture designs into the software development lifecycle facilitates seamless network bandwidth optimization and real-time data streaming. Proprietary platform solutions offer advanced features, while low-power wide-area networks ensure power consumption metrics are maintained. Data storage infrastructure and data analytics pipelines are crucial components, requiring data aggregation protocols and cross-platform compatibility for effective data integration strategies. Cloud platform integration and IoT device authentication are essential for secure data handling.

Predictive maintenance models and firmware updates processes rely on data visualization dashboards and machine learning algorithms for efficient analysis. Network latency reduction and sensor network topology optimization are ongoing efforts to enhance system performance. Hardware compatibility issues persist, necessitating edge computing gateways and device provisioning processes. Security protocols implementation and data governance frameworks are crucial for safeguarding sensitive information. Remote device management and monitoring systems enable real-time system scalability testing and data encryption techniques for enhanced security. APIs and network connectivity standards continue to evolve, ensuring continuous integration and improvement in the IoT ecosystem. The market's dynamics remain fluid, with ongoing innovation and development shaping its future applications across various sectors.

How is this IoT Platform Industry segmented?

The iot platform industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

End-user

  Manufacturing
  Retail
  Healthcare
  ICT
  Others


Deployment

  Public cloud
  Private cloud
  Hybrid


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China
    Japan


  Rest of World (ROW)

By End-user Insights

The manufacturing segment is estimated to witness significant growth during the forecast period.

In the IoT market, device interoperability and cross-platform compatibility are crucial for seamless integration of various machines and devices into the Internet of Things ecosystem. Data storage infrastructure and analytics pipelines enable businesses to derive valuable insights from the massive data generated by these connected devices. Power consumption metrics and firmware updates are essential considerations for managing the energy efficiency and maintenance of IoT devices. Predictive maintenance models and real-time data streaming help optimize operations and improve productivity. Manufacturing segments are increasingly adopting IoT technology for inventory management and performance optimization. However, challenges such as heavy investments, security concerns, lack of standardization, and interoperability issues persist.

Open-source platform adoption and API connectivity standards facilitate collaboration and ease of integration. Data visualization dashboards and edge computing gateways provide actionable insights

The European IoT security market is booming, projected to reach €[Estimated Value] by 2025 and grow at a CAGR of 11.85% through 2033. Discover key drivers, trends, restraints, and leading companies shaping this dynamic sector. Learn more about IoT security solutions, market segmentation, and regional insights for Europe. Recent developments include: November 2022 - Sophos Launched Managed Detection and Response (MDR) Service from an endpoint security provider that integrates vendor-agnostic telemetry. MDR is capable of threat detection and response capabilities. MDR offers unprecedented visibility and detection across diverse operating environments., November 2022 - Wipro launches European cyber security consultancy services. Wipro, a technology services and consulting provider has launched a strategic cyber security consulting service in Europe that is intended to give clients a complete solution to cope with security threats. Customers will have access to the whole range of cyber security capabilities offered by the organization, from strategy and execution to managed services, owing to the new offering accessible through Wipro CRS Europe., September 2022 - The European Commission launches a new Cyber Resilience Act to secure IoT devices in Europe. The Act prescribes minimum security standards for connected devices during product development and throughout the product life cycle to increase the security of European IoT software and hardware. In addition to holding manufacturers responsible for ensuring that their products are digitally secure, the Act will provide customers with further information about the security of their gadgets., January 2022- Based on Govt. United Kingdom report, the government of the United Kingdom provides software and technical assistance to Unite Kingdom entrepreneurs to help their growth. From the beginning of January 2022, applications are set to be open for the government's Help to Grow: Digital schemes, which assist smaller businesses in implementing digital technologies in favor of growth. Moreover, the project also provides businesses with discounts of up to £5,000 ( USD 5266.50) on approved Digital Accounting and Customer Relations Management (CRM) software. The government provides a dedicated website for this scheme, which offers free and impartial support and is currently operational to boost businesses' digital skills.. Key drivers for this market are: Increasing Number of Data Breaches, Emergence of Smart Cities. Potential restraints include: Increasing Number of Data Breaches, Emergence of Smart Cities. Notable trends are: Increasing Number of Data Breaches is Expected to Boost the Demand.

Europe IoT Connectivity Management Platform market was USD 2235.36 million in 2024 and will grow at a compound annual growth rate (CAGR) of 28.40% from 2024 to 2031. Increasing adoption of IoT technologies across various sectors is expected to aid the sales to USD 6543.5 million by 2031

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Cellular Iot Market Size 2024-2028

The cellular iot market size is valued to increase USD 16.45 billion, at a CAGR of 32.14% from 2023 to 2028. Implementation of cellular IoT modules in smart city infrastructure and building automation will drive the cellular iot market.

Major Market Trends & Insights

North America dominated the market and accounted for a 33% growth during the forecast period.
By Component - Hardware segment was valued at USD 1.63 billion in 2022
By Type - 3G segment accounted for the largest market revenue share in 2022

Market Size & Forecast

Market Opportunities: USD 655.66 million
Market Future Opportunities: USD 16445.70 million
CAGR from 2023 to 2028 : 32.14%

Market Summary

The market encompasses the use of cellular technology to connect Internet of Things (IoT) devices and enable seamless communication between them. This dynamic market is driven by the increasing adoption of cellular IoT modules in various sectors, including smart city infrastructure and building automation. According to a recent report, the global market share for cellular IoT in smart cities is projected to reach 45% by 2026. The applications of cellular IoT are expanding beyond urban landscapes, with growing traction in vehicle telematics and fleet management. However, the market faces challenges such as cybersecurity threats, with an alarming increase in the number of reported attacks. Despite these hurdles, the opportunities for growth are immense, as cellular IoT continues to revolutionize industries and transform the way we connect and interact with the world around us.

What will be the Size of the Cellular Iot Market during the forecast period?

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How is the Cellular Iot Market Segmented ?

The cellular iot industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. ComponentHardwareSoftwareType3G2G4GOthersGeographyNorth AmericaUSEuropeGermanyUKAPACChinaJapanRest of World (ROW)

By Component Insights

The hardware segment is estimated to witness significant growth during the forecast period.

The market is witnessing substantial expansion in the hardware sector, driven by the increasing demand for connected devices such as sensors, actuators, gadgets, appliances, and machines. These devices, capable of transmitting data over the Internet or other networks, enable the creation of interconnected systems that facilitate real-time data analytics. This enhancement in machine-to-machine (M2M) communication significantly improves the reliability and efficiency of hardware devices. Approximately 25% of IoT devices currently operate on cellular connectivity, with this figure projected to reach 35% by 2025. Furthermore, the integration of advanced technologies like network slicing, remote device monitoring, device authentication, and low-power wide-area networks (LPWANs) is expected to boost market growth. These technologies contribute to improved signal propagation, IoT device management, data analytics, and spectrum allocation. Moreover, the integration of APIs, data security protocols, battery life extension, and power consumption optimization is essential for the development of cellular IoT solutions. These advancements are crucial for addressing concerns related to network infrastructure, data throughput, geographic positioning, and antenna design. Additionally, the implementation of real-time tracking, predictive maintenance, edge computing, low-power sensors, cellular modules, energy harvesting, remote firmware updates, and sensor data aggregation further enhances the capabilities of cellular IoT systems. These features contribute to reduced network latency, IoT platform integration, and seamless m2m communication, making cellular IoT an indispensable technology for various industries.

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The Hardware segment was valued at USD 1.63 billion in 2018 and showed a gradual increase during the forecast period.

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Regional Analysis

North America is estimated to contribute 33% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in North America is experiencing significant growth, fueled by the expanding industrial, automotive, and healthcare sectors. These industries are increasingly adopting cellular IoT solutions to enhance operational efficiency and gain competitive advantages. The advantages of cellular IoT, including low power consumption and quicker data transfer sp

The Europe AI In IoT Market would witness market growth of 24.1% CAGR during the forecast period (2024-2031). The Germany market dominated the Europe AI in IoT Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $4,252.6 million by 2

Europe Satellite IoT Market is projected to gain traction in the upcoming years owing to the increasing demand for reliable and secure communication networks.

In 2022, the market value of consumer IoT in Europe was about ***** billion U.S. dollars. Wireless was the largest market type that year, amounting to around **** billion U.S. dollars.

More information on the global consumer IoT market can be found here.

The Europe Cellular IoT Market would witness market growth of 24.4% CAGR during the forecast period (2024-2031). The Germany market dominated the Europe Cellular IoT Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2,435.6 milli

The Europe IoT Technology Market would witness market growth of 11.0% CAGR during the forecast period (2024-2031). The Germany market dominated the Europe IoT Technology Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $111,065.6

The Europe IoT security market reached around USD 1.79 Billion in 2024. The market is projected to grow at a CAGR of 24.20% between 2025 and 2034 to reach nearly USD 15.63 Billion by 2034.

Europe IoT Security Market Size was valued at USD 4.31 Billion in 2024 and is projected to reach USD 22.55 Billion by 2031, growing at a CAGR of 23% from 2024 to 2031.

Increasing Cybersecurity Threats in IoT Ecosystems: The European Union Agency for Cybersecurity (ENISA) reports a 300% increase in IoT-related security incidents in European countries between 2020 and 2023. The growth of linked devices has generated unprecedented vulnerabilities, with an estimated 25 billion IoT devices predicted to be in operation by 2025, significantly increasing attackers' potential attack surface. According to the European Commission's Cybersecurity Report 2023, IoT devices are currently the principal entry point for 40% of all cyber-attacks in the European economy, necessitating significant investment in strong security solutions. Rapid Digital Transformation and Smart City: Smart city projects throughout Europe are fuelling unprecedented IoT security industry growth. According to the European Smart Cities Framework, 70% of European cities have implemented IoT-based urban management systems. According to the European Investment Bank, smart city IoT investments are expected to total 55 billion euros by 2026, with security being the primary issue. The European Commission's Digital Europe Programme has recognized IoT security as a key strategic priority, allocating 1.5 billion euros to support secure digital transformation across member states.

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Internet Of Things (IoT) Market Size 2024-2028

The internet of things (iot) market size is valued to increase USD 1554.5 billion, at a CAGR of 18.52% from 2023 to 2028. Technological developments in different platforms will drive the internet of things (iot) market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 37% growth during the forecast period.
By Application - Industrial segment was valued at USD 188.70 billion in 2022
By Technology - RFID segment accounted for the largest market revenue share in 2022

Market Size & Forecast

Market Opportunities: USD 302.53 billion
Market Future Opportunities: USD 1554.50 billion
CAGR : 18.52%
APAC: Largest market in 2022

Market Summary

The market encompasses a vast and dynamic landscape of core technologies and applications, continually evolving to redefine the way we connect and interact with the world around US. IoT technologies, including wireless communication, cloud computing, and machine learning, are revolutionizing industries and transforming everyday life. According to a recent study, the global IoT market share in the industrial sector is projected to reach 22% by 2025. Core IoT applications span across industries, including healthcare, manufacturing, transportation, and agriculture, with wearables gaining significant traction for monitoring human health and environmental conditions. However, the market faces challenges such as the lack of awareness and efficient management of IoT initiatives and investments.
Technological developments in various platforms, including edge computing and 5G networks, are addressing these challenges and creating new opportunities. For instance, edge computing enables real-time data processing and analysis, while 5G networks offer faster connectivity and lower latency. These advancements are expected to drive the growth of the IoT market, with the adoption rate projected to reach 50 billion connected devices by 2030.

What will be the Size of the Internet Of Things (IoT) Market during the forecast period?

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How is the Internet Of Things (IoT) Market Segmented and what are the key trends of market segmentation?

The internet of things (iot) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  Industrial
  Retail
  Healthcare
  ICT
  Others


Technology

  RFID
  Sensors
  NFC
  Cloud services
  Others


Geography

  North America

    US


  Europe

    France
    Germany
    Norway


  APAC

    China


  Rest of World (ROW)

By Application Insights

The industrial segment is estimated to witness significant growth during the forecast period.

The market is experiencing significant growth, with an estimated 27.1% of businesses implementing IoT solutions as of 2021. This trend is expected to continue, with 30.9% of companies planning to adopt IoT technology in the near future. IoT technology enables device authentication, software-defined networking, and latency reduction, among other advancements, to streamline business operations and enhance productivity. Sensor networks, firmware updates, wireless communication, and hardware acceleration are integral components of IoT infrastructure. Machine learning algorithms, edge computing, remote device management, data visualization tools, and cybersecurity measures ensure data integrity and security. Real-time monitoring, bandwidth optimization, and device provisioning are essential for efficient IoT implementation.

Low-power wide-area networks and power consumption metrics are crucial for IoT devices, especially in industrial applications. Predictive maintenance, cloud computing platforms, data acquisition, system scalability, data analytics dashboards, and embedded systems are key features that enable businesses to gain valuable insights from IoT data. The IoT market faces challenges such as network security protocols, interoperability standards, and data encryption. However, these issues are being addressed through ongoing research and development efforts. IoT is transforming industries worldwide, from manufacturing and healthcare to transportation and agriculture, offering opportunities for innovation and growth.

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The Industrial segment was valued at USD 188.70 billion in 2018 and showed a gradual increase during the forecast period.

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Regional Analysis

APAC is estimated to contribute 37% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The Europe IoT Sensors Market would witness market growth of 27.4% CAGR during the forecast period (2024-2031). The Germany market dominated the Europe IoT Sensors Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $11,431.6 million