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Internet of Things (IoT) Market: Accelerating at 19.4% CAGR with Cloud Technology| SkyQuest Technology

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WESTFORD, Mass., July 2, 2024 /PRNewswire/ — According to SkyQuest, the global Internet of Things (IoT) Market was valued at USD 318.8 billion in 2022 and is poised to grow from USD 380.6 billion in 2023 to USD 1572.37 billion by 2031, growing at a CAGR of 19.4% during the forecast period (2024-2031).

Internet of Things (IoT) refers to physical objects embedded with sensors and software to enable communication and share or transmit data. Growing demand for connected devices around the world and advancements in IoT technology are projected to drive the internet of things (IoT) market growth. The availability of low-cost sensors and rapid adoption of cloud technologies are also setting the tone for internet of things (IoT) market growth across the forecast period and beyond. The global Internet of Things (IoT) market is segmented into component and application, and region.
Download a detailed overview:
https://www.skyquestt.com/sample-request/internet-of-things-market
Internet of Things (IoT) Market Overview: 
Report Coverage 
Details 
Market Revenue in 2023 
$ 380.6 billion 
Estimated Value by 2031 
$ 1572.37 billion 
Growth Rate 
Poised to grow at a CAGR of 19.4% 
Forecast Period 
2024–2031 
Forecast Units 
Value (USD Billion) 
Report Coverage 
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends 
Segments Covered 
Component, Focus Area and End Use Verticals
Geographies Covered 
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report Highlights 
Updated financial information / product portfolio of players 
Key Market Opportunities 
Government initiatives open door for investing in IoT market
Key Market Drivers 
Innovations in Sensor Technology to Boost Market Growth
Segments covered in Internet of Things (IoT) Market are as follows:
ComponentHardware, Software (Smart Surveillance, Data Management, Device Management, Application Management, Network Management), Services (Professional Services [Consulting, Implementation, Support & Maintenance], Managed Services)Focus Area Smart Manufacturing (Asset Tracking & Remote Management, Production Optimization, Workforce Management), Smart Transportation/Mobility (Traffic Management, Cargo Monitoring, Fleet Management, Ticketing & Toll Collection), Smart Energy & Utilities (Energy Efficiency, Energy Consumption, Energy Transmission & Distribution), Smart Retail (Geo marketing & Advertising, Smart Payment & Customer Experience), Connected Healthcare (Telemedicine, Clinical Operations Management, Imaging & Diagnostics), Smart Agriculture (Field & Crop Monitoring, Weather Monitoring), Smart Buildings (Identity & Access Management, Smart Water Management, Automation & Control), Other ApplicationsEnd Use Verticals Industrial, Commercial, ResidentialRequest Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/internet-of-things-market
Any Functional IoT Device is Incomplete Without its Components
Hardware is a prominent sub-segment of the component segment as it brings in most revenue for internet of things (IoT) companies. Sensors, actuators, connectivity devices, and RFID tags are some key hardware components that are extensively used in IoT devices. Growing demand for advanced IoT devices is pushing companies to invest in the development of new hardware technology. Rising demand for remote monitoring in multiple industry verticals is also estimated to promote the use of advanced hardware components going forward.
The need for advanced software for IoT devices for data collection and analysis is projected to help the software sub-segment boost market development at a good pace. Increasing emphasis on process optimization and demand for custom applications are also slated to help this segment bolster internet of things (IoT) market growth. The launch of new digital transformation initiatives around the world is also projected to aid IoT software demand. The rising use of IoT devices in different automation applications is estimated to help the expansion of the service sub-segment. Integration of IoT devices with other advanced and smart technologies will also help internet of things (IoT) companies expand their revenue generation through services.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/internet-of-things-market
Smart Manufacturing Leading the Application Scope of IoT Technology
Rising emphasis on improving manufacturing facilities’ productivity and operational efficiency is promoting the adoption of smart manufacturing practices. Most smart manufacturing approaches rely on the utilization of the Internet of things and other connected technologies. The adoption of the Industry 4.0 trend is another key factor helping internet of things (IoT) adoption in smart manufacturing applications. The Internet of things (IoT) is important in almost all kinds of smart applications and the growing popularity of smart solutions around the world is slated to create new opportunities going forward.
Growing demand for better agriculture yield around the world has promoted the popularity of smart and precision agriculture. This trend is also estimated to bolster sales of IoT devices across the forecast period and beyond. Smart transportation and logistics are another application where IoT devices will be high in demand owing to rising demand for automation. High investments in smart infrastructure development will also create new opportunities for internet of things (IoT) providers in the long run
In conclusion, the internet of things (IoT) market has a lot of untapped potential in its sub-segments, where internet of things (IoT) companies can focus and generate impressive revenue going forward. Smart agriculture, smart transportation, and hardware are the top segments that are estimated to provide the best return on investment for internet of things (IoT) companies in the future. New companies as well as established market players can target the sub-segments to amplify their business scope.
 Related Reports:
Automotive IoT Market
Internet Of Things (IoT) Professional Services Market
IoT Security Market
5G IoT Market
IoT Sensors Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific. 
Contact:
Mr. Jagraj Singh
Skyquest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: [email protected]
Visit Our Website: https://www.skyquestt.com/
Logo – https://mma.prnewswire.com/media/2446095/SkyQuest_Logo.jpg

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Securden Recognized as a Market Leader in GigaOm Radar Report for Enterprise Password Management

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Securden has become a leader and an outperformer with cutting-edge features, rapid market advancements, and consistent customer value.
WILMINGTON, Del., July 4, 2024 /PRNewswire/ — Securden, Inc., a leading provider of privileged access and identity security solutions, today announced that it has been recognized as a leader and outperformer in GigaOm Radar Report for Enterprise Password Management.

GigaOm rigorously evaluates vendors in various solution segments and produces Radar reports with valuable insights to assist enterprise decision-makers in evaluating and investing in solutions.
The GigaOm Radar 2024 on Enterprise Password Management examined 13 enterprise password management solutions. “Securden is positioned in the innovation quadrant. It offers a strong solution, and its approach is to take its customers on a journey to broader PAM, with password management simply one focus area. It scored well across all of the decision criteria we evaluated, placing it as a leader, and its execution of the emerging features and rate of progress in the market classify it as an Outperformer,” states the report.
Securden has earned top ratings in key evaluation criteria, including platform security, security auditing, PAM capabilities, ease of management, ease of use, and scalability.
“We are proud to be recognized as a market leader in Enterprise Password Management by GigaOm Radar,” said Bala Venkatramani, CEO of Securden, Inc. “Protecting various identities used by humans and machines is a top priority for IT teams. Our platform offers a comprehensive privileged identity security solution, witnessing rapid adoption by SMBs and Enterprises globally. With innovation at the core, we are committed to offering simplicity and affordability in cybersecurity. This recognition affirms our strong market presence and our focus on providing powerful capabilities to strengthen our customers’ security posture.”
Securden offers robust protection for the vault with controls like access hardening, resilient deployment, and strong data protection approaches. It offers insights into password usage, identifies poor practices, flags failure to follow password standards, issues breach warnings identifying compromised passwords, and more. These measures significantly help reduce password-related risks.
Streak of Recognition
EMA Research, a top industry analyst firm, recently published an impact brief recognizing the Securden Unified PAM MSP platform as a groundbreaking development in privileged access management for MSPs. “By eliminating the need for disparate PAM solutions and providing comprehensive functionality within a single package, Securden empowers MSPs to deliver robust, scalable, and secure PAM services to their clients with unparalleled efficiency and confidence,” states the impact brief.
About Securden
Securden provides leading privileged access governance and identity security solutions that uniquely combine critical security principles to prevent cyberattacks, malware propagation and insider exploitation. With products designed for security and scalability (Password Vault for Enterprises, Unified PAM, Endpoint Privilege Manager, and Unified PAM MSP), Securden is trusted by organizations worldwide, including large financial institutions, government agencies, healthcare organizations, educational institutions, IT service providers, MSPs, and manufacturing companies. For more information, visit https://www.securden.com.
Media ContactJames [email protected]
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Managed Security Services Market Forecast to Exceed USD 101.86 Billion by 2031 Due to Escalating Security Concerns | SkyQuest Technology

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WESTFORD, Mass., July 4, 2024 /PRNewswire/ — According to SkyQuest, the global Managed Security Services Market size was valued at USD 26.89 billion in 2022 and is poised to grow from USD 31.18 billion in 2023 to USD 101.86 billion by 2031, growing at a CAGR of 15.95% during the forecast period (2024-2031).

The global managed security services market has been growing rapidly, over the last couple of years, due to the increasing security threats or risks and increasing challenges in managing security over IT networks. It’s impossible to ignore the fact that small businesses face relentless cyberattacks, including malware, ransomware, advanced threats, advanced persistent threats, and data breaches, leading to remote and hybrid operations systems.
Download a detailed overview:
https://www.skyquestt.com/sample-request/managed-security-services-market
Managed Security Services Market Overview:
Report Coverage
Details
Market Revenue in 2023
USD 31.18 billion
Estimated Value by 2031
USD 101.86 billion
Growth Rate
Poised to grow at a CAGR of 15.95%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Service Type, Type, Organization Size, Security, Type and Industry Vertical
Geographies Covered
North America, Europe, Asia Pacific, and the Rest of the world
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Surge in Demand for Managed Detection and Response (MDR) Service
Key Market Drivers
Cyber Threats are Growing Complex 
Segments covered in Managed Security Services Market are as follows:
Service TypeManaged IAM, managed vulnerability management, managed risk and compliance, managed detection and response, managed firewall, and managed SIEM and log management, othersTypeFully managed, co-managedOrganization SizeSmall and medium-sized enterprises, Large enterprisesSecurity TypeNetwork security, cloud security, endpoint security, application security, othersIndustry VerticalBFSI, government, healthcare & life sciences, telecommunications, IT and ITeS, Retail and eCommerce, energy and utilities, manufacturing, and other verticalsRequest Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/managed-security-services-market
Rapid Responders: Incident Response Services
Managed detection and response are the large segment in the managed security services market. Managed detection-response services provide continuous improvement, threat detection, and response capabilities critical to today’s enterprises facing sophisticated cyber threats. This segment is characterized by the increasing prevalence and importance of cyberattacks advanced threat detection and response strategies beyond traditional security measures. The ability of the MDR service to provide comprehensive analysis of security incidents and take corrective action quickly is essential to minimize potential damage and ensure business continuity.
Managed identity and access management is the fastest growing segment in the market. The rising growth in this sector is driven by the need for robust stakeholder solutions in an era of digital transformation and remote collaboration. The rise of cyber threats and increasing regulatory requirements for data security and privacy and the main drivers of this segment.
Data Guardians: Data Protection Services
The global market recognizes the dominant position of the entire service management segment. This dominance is largely due to the scope of this role, in which companies assume full responsibility for an organization’s security programs from security providers, especially those without in-house security expertise or resources. These roles cover a wide range of security measures, including threat identification, incident response, compliance management and continuous monitoring. Adoption rates are also driven by the increasing complexity of cyber threats, which require a strong, 24/7 monitored security measure that only specialized providers can provide further strengthening its position as the largest market share.
In addition to the dominance of fully managed services, the advanced management segment is growing the fastest in the global market. This increase is driven by hybrid security models that offer a collaborative approach between internal IT teams and external security providers.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/managed-security-services-market
Safeguarding Tomorrow’s Digital Frontiers
As businesses and organizations take on the cyber panorama in terms of severe, MSS vendors remain vigilant guards, the use of advanced era and professional insights. Managed Security Services (MSS) have emerged as the cornerstone of present-day cybersecurity strategies, presenting strong protection in opposition to threats in a more and more digital international.
Related Report:
Cyber Security Market
Network Security Market
Endpoint Security Market
Cloud Security Market
Application Security Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:Mr. Jagraj SinghSkyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/
Logo: https://mma.prnewswire.com/media/2446095/SkyQuest_Logo.jpg
 

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Industrial Internet of Things (IIoT) Market is Expected to Surpass USD 191.6 Billion Valuation by 2031, Rise of Automation in Manufacturing to Boost Expansion| SkyQuest Technology

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WESTFORD, Mass., July 4, 2024 /PRNewswire/ — According to SkyQuest, the global Industrial Internet of Things (IIoT) Market was valued at USD 102.48 Billion in 2022 and is expected to rise from USD 109.86 Billion in 2023 to reach a value of USD 191.6 Billion by 2031, at a CAGR of 7.2% during the forecast period (2024-2031).

The rapid adoption of smart manufacturing practices in multiple industries and growing demand for automation have set the tone for industrial internet of things (IIoT) market growth. IIoT devices and solutions are specifically designed to enhance industrial operations and promote operational efficiency and productivity as well. Advancements in IoT and IoT connectivity technologies are also slated to create new business scope for industrial internet of things (IIoT) companies in the future.  The global industrial internet of things (IIoT) market is segmented into component, technology, connectivity technology, software, vertical, and region.
Download a detailed overview:
https://www.skyquestt.com/sample-request/industrial-internet-of-things-iiot-market
Industrial Internet of Things (IIoT) Market Overview: 
Report Coverage
Details
Market Revenue in 2023
$ 109.86 billion
Estimated Value by 2031
$ 191.6 billion
Growth Rate
Poised to grow at a CAGR of 7.2%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Component, Technology, Connectivity Technology, Software and Vertical
Geographies Covered
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report Highlights
Development of novel blockchain AI solutions that give benefits of both technologies involved
Key Market Opportunities
Adoption of Smart Initiatives
Key Market Drivers
Implementation of IPV6
Segments covered in Industrial Internet of Things (IIoT) Market are as follows:
ComponentHardware, Platform, Solution, and ServicesTechnologySensor, Radio Frequency Identification (RFID), Industrial Robotics, Distributed Control System and OtherConnectivity TechnologyWired Technology and Wireless TechnologySoftwareVisualization Software, SCADA, Distribution Management System, Farm Management Systems and OtherVerticalManufacturing, Energy, Oil & Gas, HealthCare, Retail, Transportation, Metal & Mining, AgricultureRequest Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/industrial-internet-of-things-iiot-market
Hardware Components Slated to Bring in Most Revenue Owing to Development of IIoT Infrastructure
Industrial internet of things (IIoT) requires specialized connected devices made from dedicated sensors and controllers. Growing investments in the development of new IIoT infrastructure are projected to bolster the demand for hardware components and allow this segment to lead the market in terms of revenue generation. Advancements in connectivity technologies are also predicted to bolster the demand for novel IIoT hardware components across the forecast period and beyond.
Meanwhile, industrial internet of things (IIoT) companies can also invest in the development of novel platforms and services to strengthen their business potential. The need for IIoT platforms and services will only get stronger by the day as the adoption of IoT technology in industrial settings increases.
Manufacturing to Take the Crown for Industrial Internet of Things (IIoT) Sales Owing to the Rise of Smart Factories
The manufacturing industry vertical is estimated to take center stage when it comes to industrial internet of things (IIoT) adoption. High demand for better productivity and operational efficiency in manufacturing facilities is estimated to make this segment a highly lucrative one. From remote monitoring to predictive maintenance, all of these features can only be added to a manufacturing facility through the use of industrial internet of things (IIoT). Energy and oil & gas industry verticals are also forecasted to provide moneymaking opportunities for industrial internet of things (IIoT) companies in the future as digitization increases in them. Apart from these industry verticals, industrial internet of things (IIoT) providers can also explore retail, healthcare, agriculture, and transportation industry verticals to maximize their business scope and boost revenue generation going forward.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/industrial-internet-of-things-iiot-market
Wireless Connectivity to Gain Prominence with the Advent of 5G Technology
Advancements in technology have created novel wireless technologies used for connected devices. The need for the elimination of wires is projected to drive the demand for wireless connectivity in industrial internet of things (IIoT) devices. 5G is the key wireless connectivity technology that is projected to help the wireless segment become the most rewarding for market players over the coming years.
Industrial internet of things providers will need to choose their strategies carefully if they want to succeed in this business. Industrial internet of things (IIoT) companies can get good returns on their investments if they target the manufacturing industry as the trend of automation catches up. Developing new IIoT hardware devices and components will also help industrial internet of things (IIoT) companies expand their business potential on a global level. 
Related Reports:
Internet Of Things (IoT) Market
IoT Security Market 
Narrowband-IoT (NB-IoT) Market
Consumer IoT Market
Internet of Things (IoT) in Smart Cities Market 
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific. 
Contact:Mr. Jagraj SinghSkyQuest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/
Logo: https://mma.prnewswire.com/media/2446095/SkyQuest_Logo.jpg

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