IDC: Policy-driven and AI-enabled resonance will push China's IoT security market size to exceed 2.1 billion yuan in 2024

According to the Zhitong Finance APP, recently, the International Data Corporation (IDC) released the report "China IoT Security Market Share, 2024: Policy-Driven and AI Empowerment Resonance." IDC data shows that the overall scale of China's IoT security market is approximately 2.13 billion RMB in 2024. Against the backdrop of continuous growth in terminal devices, accelerated digital transformation in industries, and increasingly stringent national policies on security compliance, the construction of IoT security is gradually moving towards systematization and normalization, with the market overall maintaining a steady and progressive development trend.

Market Competition Landscape: Differentiated Paths Becoming More Apparent

Companies such as VENUSTECH (002439.SZ), DPtech (300768.SZ), and Anheng Information (688023.SH) are actively expanding their IoT security businesses, leveraging their deep accumulation and mature delivery capabilities in the government and enterprise customer sectors, thus possessing strong competitiveness and delivery assurance in large projects. Meanwhile, small and medium-sized security vendors such as Huidun Security, Tianmao Information, Wanwu Security, ShuoBo Technology, and Qianyun Wangxin Technology are relying on segmented products and specific industry scenario advantages to deeply explore industry demands, enhance product adaptation, and continuously achieve breakthroughs.

Market Supply Composition: Integrated Soft and Hard System Construction

Currently, China's IoT security market primarily focuses on integrated software and hardware solutions, with product supply mainly concentrated in three core areas: boundary security, access security, and security management platforms.

Boundary security, as the first line of defense in the IoT protection system, is a core aspect prioritized by enterprises for deployment, with a market scale exceeding 560 million RMB;

Access security, relying on the continuous expansion of IoT terminal devices, has a broad application foundation and significant growth potential, with a market scale of approximately 550 million RMB;

Security management platforms play a key role in unified data collection, centralized management, and security situation awareness, gradually becoming an important support for systematic security construction, with a market scale of about 540 million RMB.

Additionally, it is worth noting that the market scale of IoT security services continues to grow, with revenue proportions doubling, reflecting that the trend towards service-oriented solutions is beginning to emerge.

Industry Application Expansion: Government Sector Leading, Accelerated Penetration in Transportation, Finance, and Education Across Multiple Fields From the perspective of industry applications, the IoT security market is adapting to the increasingly fragmented development characteristics of IoT applications, with the trend of scenario-based and diversified security protection continuing to accelerate. In the face of various types of sensing devices, multi-source heterogeneous data, and complex and changing business scenarios, the market has raised higher demands for differentiated and customized security protection strategies. Overall, the security protection of video IoT devices remains a key focus of the industry.

As the leading force in IoT security construction, the government sector continues to promote systematic deployment in key areas such as urban governance and public safety, with a market size reaching approximately 1.06 billion RMB, occupying a core position in the overall market.

At the same time, security investments in key industries such as transportation, finance, education, electricity, and healthcare are also continuously increasing, driving the deepening development of IoT security applications, with coverage scenarios becoming increasingly diverse and complex.

Li Junlan, Research Manager for Robotics and IoT at IDC China, stated that in the era of ubiquitous connectivity, security has become a foundational capability for the stable operation of systems and the continuous development of businesses. With the explosive growth of terminal numbers and the continuous expansion of scenarios, IoT security is covering the entire chain of links including perception, transmission, data, applications, and platforms. In the future, users will shift from compliance-driven to value-oriented, placing greater emphasis on the supporting role of security in business continuity, data credibility, and system resilience. IoT security will accelerate its deep integration with AI, platform ecosystems, and industry scenarios, building a "native security" system, becoming a key foundation for promoting the development of a trusted IoT