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Technavio: Smart Tech to Help Drive IoT Security Market Growth Through 2019

Technavio: Smart Tech to Help Drive IoT Security Market Growth Through 2019 - top government contractors - best government contracting event

ITTechnavio 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.IoT news ad

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.

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Written by Mary-Louise Hoffman

is a writer of news summaries about executive-level business activity in the government contracting sector. Her reports for ExecutiveBiz are focused on trends and events that drive the GovCon industry to include commercial technologies that private companies are developing for federal government use. She contributes news content to ExecutiveBiz’s sister sites GovCon Wire and ExecutiveGov.

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