In today’s world, advanced technologies are becoming an integral part of human life, with digitally connected devices and applications commonly used in homes, offices, and cars. Most devices and appliances have been integrated with smart capabilities to harness the benefits of the Internet. According to GSMA Intelligence 2018, the number of IoT connections worldwide will reach 25 billion by 2025, from 10.3 billion in 2018.
Smart cities, smart buildings, smart energy, smart public transport, and smart public safety are designed to enable cutting-edge services and infrastructure. Several governments around the globe are undertaking initiatives to develop smart cities. For instance, in 2016, the Chinese government announced plans to develop 500 smart cities across the country. In 2020, the Japanese government announced plans to invest JPY 250 billion (USD 2.4 billion) in developing smart city projects in Southeast Asia.
Smart cities efficiently deploy ICT infrastructure to improve inhabitants’ quality of life and augment urban operations and services. Therefore, the successful implementation of smart city infrastructure heavily depends on technologies, such as Artificial Intelligence, Big Data, Cloud, mobility, and sensors, which IoT applications need to leverage collectively. Securing these devices has become increasingly complex with the proliferation of IoT devices in smart infrastructure. Hence, the vulnerabilities of IoT devices and networks and their growing application in day-to-day operations make IoT security crucial. Hence, the need to secure IoT ecosystems is rising, creating growth opportunities for IoT security solutions providers.
Major companies worldwide have started investing in IoT security solutions to safeguard smart infrastructure, creating significant growth opportunities for the IoT security market. Some of the developments in this space are as follows:
- In 2021, ATOS SE (France) and Ooredoo (Qatar) collaborated to deliver cybersecurity threat detection and response services to the Qatar Smart City Program ‘TASMU,’ driven by the Ministry of Transport and Communication (MOTC) to support the Qatar National Vision 2030 initiative. Under this collaboration, Atos will provide its managed detection and response services and next-generation Artificial Intelligence (AI) capabilities to secure TASMU’s infrastructure and applications.
- In 2020, Checkpoint Software Technologies, Ltd. (Israel) introduced its IoT Protect solution to secure IoT devices & networks in smart buildings, smart cities, and healthcare, industrial, and critical infrastructure environments against all types of advanced Gen VI cyber threats.
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