The proliferation of IoT devices has made them an attractive target for hackers to launch attacks on systems, as was the case with Netflix or Spotify in 2016. As the number of installed IoT devices is expected to increase worldwide, so does the potential threat and the importance of securing these devices and their communications. One approach to mitigate potential threats is the usage of the so-called Secure Group Communications (SGC) schemes to secure the communication of the devices. However, it is difficult to determine the most appropriate SGC scheme for a given use case because many different approaches are proposed in the literature. To facilitate the selection of an SGC scheme, this work examines 34 schemes in terms of their computational and communication costs and their security characteristics, leading to 24 performance and security features. Based on this information, we modeled the selection process for centralized, distributed, and decentralized schemes as a multi-objective problem and used decision trees to prioritize objectives.