Friday 15 May 2015, Amsterdam
The report recognizes the following companies as the key players in Global IoT Security Market 2015-2019: Cisco Systems, Infineon Technologies, Intel, Siemens and Wurldtech
Other Prominent Vendors in the market are: Alcatel-Lucent, Axeda Machine Cloud, Broadcom, Checkpoint Technologies, Digi International, Ericsson, Eurotech, Fortinet, Gemalto, IBM, ILS Technology, Kore Wireless, NetComm Wireless, Numerex, Palo Alto Networks, Rockwell automation, Secure Crossing, Sierra Wireless, Sophos, Systech Solutions, Tofino and Ventus Wireless
Commenting on the report, an analyst from Technavio’s team said: “Smart cities exist where there is interconnection among a number of digital technologies that enhance communication between devices and improve their performance, and help in efficient utilization of resources. For instance, traffic control, home monitoring, waste management, water management, and safe and intelligent transportation are some of the technologies used in smart cities. Hitachi is one of the companies focusing on developing technologies for smart cities, which will help in efficient use of resources. Smart cities use IoT that allows communication between devices and help end-users to respond faster to the challenges being faced. The number of smart cities is expected to grow rapidly during the forecast period. Hence, to ensure safe and secure communication between devices and their efficient functioning, it is important to maintain the security of the network infrastructure by implementing IoT security solutions.”
According to the report, one of the major drivers in the market is the need for regulatory compliance. Companies are required to comply with regulations set by government, else it can attract heavy penalty. Hence, ensuring network security of connected devices is important.
Further, the report states that TechNavio has found that high cost of implementation of IoT security solutions is a major challenge in the market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors