Mary-Louise Hoffman
Technavio has forecast a 55 percent compound annual growth rate for the worldwide Internet of Things security market over the next four years.
The research firm said Tuesday that security regulations and the development of smart cities will drive industry growth.
“With so much information passing between people, governments are taking steps to secure networks from hackers and viruses by establishing strict regulatory frameworks,†says Faisal Ghaus, a vice president at Technavio.
He added organizations should adopt tools that can help safeguard IoT network infrastructure.
Technavio noted it used global revenues from IoT security and management software products to estimate the market’s value from 2015 to 2019.
Key vendors are Cisco Systems, Infineon Technologies, Intel, Siemens and Wurldtech Security Technologies, the research firm added.
