Booming opportunities exist in the IoT cybersecurity market, which will be the next big market for the cybersecurity industry, according to ABI Research.The market remains fragmented and has yet to consolidate, and the ecosystem is expanding, with vendors finding their way into three groups, ABI has found.
These three groups broadly comprise hardware, firmware/software and applications, across sectors including automotive, smart home, healthcare and energy.
“There is growing interest and requirement for improved levels of security to be designed into products, devices and networks to protect data, combat fraud and prevent criminal hacking,” Michela Menting, ABI Research research director, commented.
“While there is no one ‘go-to’ company, with so many IoT and security vendors making a stake, the prospects for successfully penetrating the market are high for new players and entrenched leaders alike.
“Promising opportunities, and undeniably challenges, will centre on securing assets, protecting data and ensuring privacy.”
ABI notes that market players include: Qualcomm, Gemalto, G&D, ARM, Imagination Technologies, Deutsche Telekom, Symantec, Wind River, QNX, Green Hills, Freescale, General Dynamics, Commsignia, Covisint, Cryptosoft, Waterfall Security, Oracle, Intel, Harman (TowerSec), Bastille, Rambus, Escrypt, Inside Secure and ForgeRock.
While standardisation along with guideline developments is in the early stages, numerous groups are working on different aspects of security standards, ranging from areas such as hardware designs to network connectivity.
“When mapping out these new standards, it is important to keep in mind numerous considerations, such as small footprints, lightweight agents, low energy consumption, mobile assets and permeable networks,” Menting commented.