Tag Archives: HTS

TrustKey Solutions Introduces New FIDO2 Key Line

DALLAS, July 20, 2020 — TrustKey Solutions (“TrustKey”) announces T120 – FIDO2/U2F, USB-C security key. T120 is based on public key cryptography to protect users against phishing and man-in-the-middle attacks. T120 is a hardware security key for the consumers as well as enterprise deployments – it is fast, easy to use and affordable.

T120 supports passwordless login to Microsoft Azure Active Directory (Azure AD) joined Windows devices even in flight-mode. With their Azure AD integration, TrustKey earned a nomination to join the Microsoft Intelligent Security Association. In addition, it is compatible with all the major web browsers where WebAuthn is implemented, and works seamlessly on online services like Azure AD, Google, Dropbox, Facebook, ServiceNow, Twitter, GitHub, 1Password and more. T120 supports up to 150 user accounts with securely stored Resident Keys. Moreover, “T120 is implemented on the same platform as FIDO Alliance L2 certified G-Series keys, G310 and G320. T120 provides high security performance with affordability,” said Stephen Oh, CEO of TrustKey.

Moreover, T120 supports OTP (HOPT and TOTP) features with maximum 50 OTP accounts. This capability provides an instrument of seamless transition from 2FA to passwordless login. The organizations with currently deployed 2FA mechanism and with plans to transition into passwordless system can deploy T120 with peace of mind that knowing that FIDO2 is supported by T120 and provide passwordless experience to the users.

“Microsoft has been on a mission to eliminate passwords and help people protect their corporate identities. T120 supports our four steps to password freedom with password replacement offering,” said Sue Bohn, Partner Director of Program Experience, Microsoft Identity Division, at Microsoft Corp. “We are pleased to see companies like TrustKey support that goal by providing a reliable and an affordable solution like T120.”

For more information and pricing on T120 and G-series biometric keys, please visit us at www.trustkeysolutions.com.

About TrustKey Solutions

TrustKey Solutions, www.trustkeysolutions.com, strives to be the recognized leader in IoT security solutions worldwide. We will lead the industry in IoT security with our revolutionary holistic security solutions, providing a more secure and private world for all people, everywhere.

For Media Enquiries:

Andrew Jun
+1 ‪408 471 6849

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Acronis Acquires DeviceLock, Adds Data Loss Prevention and Device Control to Growing Cyber Protection Portfolio

Singapore unicorn company adds DeviceLock’s leading device control and endpoint data loss prevention technology to further advance its business solutions

SINGAPORE, July 16, 2020  — Acronis, a global leader in cyber protection, today announces the acquisition of DeviceLock, Inc., a leading provider of endpoint device/port control data leak prevention software for enterprises and government institutions around the world. As part of the agreement, DeviceLock will become a wholly-owned subsidiary of Acronis.

Acronis now owns 100% on DeviceLock
Acronis now owns 100% on DeviceLock

A clear leader in endpoint Data Loss Prevention (DLP) protecting 4 million computers in more than 5,000 organizations worldwide, DeviceLock enjoys a global customer presence across a wide variety of business types, including banking and finance, medical, pharmaceutical, government and defense, manufacturing, and retail.

DeviceLock DLP is designed to stop data leaks at the source, as nearly two thirds of serious data leakage incidents are caused by employees, contractors or visitors — whether through unintentional mistakes or malicious intent. DeviceLock solutions provide top-class protection of valuable data from this serious insider threat. The acquisition of these new capabilities will help advance Acronis’ mission to deliver world-class cyber protection to every business.

Acronis will integrate DeviceLock’s technology into the Acronis Cyber Platform, making new services available through the Acronis Cyber Cloud Solutions portal. At the same time, Acronis will continue to work on new versions of the DeviceLock DLP complex while maintaining full technical support.

Together with DeviceLock’s full DLP suite, Acronis will offer customers and partners a simple and affordable approach to preventing data leaks from corporate Windows and Mac laptops, desktop computers, and virtualized Windows sessions and applications, covering the Five Vectors of Cyber Protection — safety, accessibility, privacy, authenticity, and security (SAPAS) of all data, applications, and systems.

“By adding DeviceLock’s solutions to our portfolio of cyber protection products and services, we’re giving our partners and customers an easy way to deliver an unprecedented level of functionality among endpoint DLP solutions in an affordable price range,” said Serguei “SB” Beloussov, Acronis’ Founder and Executive Officer. “We are looking at both developing new solutions internally, as well as acquiring additional leading vendors to add even more capabilities to our existing repertoire. The world of IT security is always changing, and we are determined to continue evolving our solutions to meet the ever-changing needs of the market.”

Acronis sees the value in offering DeviceLock’s services to its community of 50,000 partners in the IT channel, enabling MSPs and service providers to better manage the data protection needs of their clients. Acronis’ ability to meet infrastructure deployment requirements by location, budget, and use case provides them with the best in control and flexibility, to deliver cyber protection with Acronis Cyber Protect. Acronis plans to continue enhancing its cyber protection offerings, and adding capabilities requested by partners and customers.

“By merging with Acronis, we can accelerate product innovation, expand our distribution channel, and leverage our existing technology to meet customer requirements,” said Ashot Oganesyan, DeviceLock CTO and Founder. “With the knowledge gained from nearly a quarter century of experience providing device control and endpoint data leak prevention solutions, we are certain that this acquisition will protect millions more users and ensure secure and reliable data protection deployments worldwide.”

About Acronis

Acronis unifies data protection and cybersecurity to deliver integrated, automated cyber protection that solves the safety, accessibility, privacy, authenticity, and security (SAPAS) challenges of the modern digital world. With flexible deployment models that fit the demands of service providers and IT professionals, Acronis provides superior cyber protection for data, applications, and systems with innovative next-generation antivirus, backup, disaster recovery, and endpoint protection management solutions. With award-winning AI-based anti-malware and blockchain-based data authentication technologies, Acronis protects any environment – from cloud to hybrid to on-premises — at a low and predictable cost.

Founded in Singapore in 2003 and incorporated in Switzerland in 2008, Acronis now has more than 1,500 employees in 33 locations in 18 countries. Its solutions are trusted by more than 5.5 million home users and 500,000 companies, including 100% of the Fortune 1000, and top-tier professional sports teams. Acronis products are available through 50,000 partners and service providers in over 150 countries in more than 40 languages. For more information, please visit www.acronis.com.

About DeviceLock, Inc.

Established in 1996, DeviceLock, Inc. provides device control and endpoint data leak prevention software solutions to businesses of all sizes and industries. Protecting 4 million computers in more than 5,000 organizations worldwide, DeviceLock has a vast range of corporate customers including financial institutions, state and federal government agencies, classified military networks, healthcare providers, telecommunications companies and educational institutions. For more information, visit DeviceLock at www.devicelock.com and on Twitter at https://twitter.com/DeviceLock

Contact:

Natalia Tashkeeva
Corporate Communications Director
+65 9643 9080 | 
natalia.tashkeeva@acronis.com 

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Strengthen Data Privacy on Your Website With Monsido

Monsido Empowers Website Owners to Take Control Of Personal Data on Their Website and Meet Regulatory Requirements

SYDNEY, July 15, 2020 — Monsido, a leader in web governance solutions that enhance user experience, today announced the launch of their Data Privacy module. The new module will allow Monsido customers to automate the management of their websites’ personal data by scanning their domains and identifying potential privacy issues.

With global privacy regulations like the General Data Protection Regulation (GDPR) in Europe and the Australian Privacy Act (The Privacy Act 1988) in Australia in place, organisations need to be more vigilant with the personal data they collect, process, and store on their websites. It is crucial that organisations take proactive measures like implementing data protection and management software to help guide them through the various regulations.

Monsido’s Data Privacy module enables web and compliance teams to take control of their data privacy with ease by:

  • Automatically discovering and classifying sensitive information present on websites such as banking details, passport numbers, medical information, and much more
  • Customising scans based on existing data privacy standards like the GDPR, the Australian Privacy Act, and the California Consumer Privacy Act (CCPA)
  • Prioritising potential issues by identifying the level of risk associated with the different data on websites
  • Proving their efforts to comply with data privacy standards to the authorities through audit logs and a history centre

Jannik Groentved, CEO of Monsido, said:
“It is extremely difficult to avoid giving away personal information on the web today. And once you’ve given your data to an organisation, it can be hard to control where it will be used. Our Data Privacy module will help our customers ensure the best interests of their website visitors and customers by safeguarding their information and managing the personal data they hold to stay in compliance with international regulations.”

Learn more about the Data Privacy module: https://monsi.do/327GsS6 

About Monsido
Monsido is a fast-growing software company founded in 2014 that provides a one-stop web governance solution designed to give website visitors a superior browsing experience. Our time-saving auditing tool provides accurate and insightful information that helps organisations work with confidence to identify content, branding, and accessibility issues. Monsido has offices in the United States, United Kingdom, Australia, and Denmark. For more information, visit www.monsido.com.

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Ivanti Wavelink Partners with Manhattan Associates to Support Windows to Android Migrations in Southeast Asia (SEA)

The Ivanti Rapid Platform will help validate multiple hardware platforms, providing the right solution for the right device

SINGAPORE, July 14, 2020 — Ivanti Wavelink announced its partnership with Manhattan Associates, in support of Windows to Android migrations. Using Ivanti® Rapid Platform™, customers in warehousing, transport & logistics, and retail who use Manhattan Associates solutions, can now experience an easy-to-use migration from Windows to Android systems. Further, this solution allows organisations to also eliminate the risk typically associated with new platform migration.

“We are proud to be on board with Manhattan Associates and support them in their migration journey in the Southeast Asia region,” said Simon Storey, Area Vice President APAC at Ivanti Wavelink. “With Ivanti Rapid delivery platform, we are helping our customers easily migrate their apps to Android or Windows 10 and enhance their user experience by modernising, voice-enabling and managing assets.”

Designed to speed modernisation within the supply chain, the platform delivers several enhancements for optimising and simplifying the migration of applications across devices and operating systems.

Additional benefits and features of the platform include:

  • Voice enabled applications – Speeds up operations by adding voice to existing apps and increases safety by being truly hands free
  • Rapid migration and modernisation – Allows migration and modernisation in minutes, enhancing existing apps with new HTML screens and extending the life of the application
  • Validation – Validates against multiple hardware platforms giving maximum flexibility for the right device with the right solution
  • Support with new User interface – Decreases training time with a modern User Interface (UI)
  • Value Adds – Adds operational efficiencies such as voice picking, voice directed cross docking and releasing the hands for single items picks

“At Manhattan Associates, we are committed to provide both top-line growth and bottom-line profitability for our customers through our leading edge solutions and unmatched experience,” said Daniel Osborne, Marketing Director, APAC at Manhattan Associates. “With this in mind, teaming up with Ivanti will further support us in providing our customers a seamless experience with easily deployed systems.”

He added, “As a provider of leading-edge WMS and on-premises solutions, we constantly work towards minimising the risks and dependence on IT resources for our customers. Ivanti® Rapid Platform will benefit our customers to speed up their operations through rapid migration and modernisation, support with new UI, increasing productivity and accuracy.”

About Manhattan Associates
Manhattan Associates is a technology leader in supply chain and omnichannel commerce. We unite information across the enterprise, converging front-end sales with back-end supply chain execution. Our software, platform technology and unmatched experience help drive both top-line growth and bottom-line profitability for our customers. Manhattan Associates designs, builds and delivers leading edge cloud and on-premises solutions so that across the store, through your network or from your fulfilment center, you are ready to reap the rewards of the omnichannel marketplace.
For more information, please visit www.manh.com.

Ivanti Wavelink
The Ivanti Wavelink business unit helps organisations leverage modern technology in the warehouse and across the supply chain to improve delivery without modifying backend systems. The company also unifies IT and Security Operations to better manage and secure the digital workplace. From PCs to mobile devices, VDI and the data center, Ivanti discovers IT assets on-premises and in the cloud, improves IT service delivery, and reduces risk with insights and automation. Ivanti is headquartered in Salt Lake City, Utah, and has offices all over the world.  For more information, visit www.ivanti.com/wavelink and follow @GoIvanti.

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Herta Launches New COVID-19 Technology for the New Normality

The leading facial recognition firm launches new video analytics to enhance security and safety in the new post-pandemic era

BARCELONA, Spain, July 13, 2020 — Herta, the Barcelona based facial recognition company, has recently launched a new range of solutions that will help businesses and industries adapt to the new normality.

COVID solutions Herta
COVID solutions Herta

Awarded with the COVID-19 Response Seal of Excellence by the European Comission, Herta’s new applications allow the monitoring of social distancing, occupancy control, mask detection, and facial recognition, even when people wear masks.

Herta’s technology is characterized by having the best reputation, with real and large-scale security projects worldwide. By expanding their product range, the company aims to reinforce their mission: increase the world’s safety by building user-friendly computer vision solutions. With these new applications, Herta will surely help organizations comply with the new COVID-19 safety regulations as well as covering the needs that arise in this new normality.

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The Critical Need for IoT Cybersecurity Will Drive Device Authentication Services to US$8.4 Billion Revenues by 2026

The increasing threat landscape is forcing IoT implementors and vendors to embrace and prioritize new hardware-focused digital security options 

LONDON, July 2, 2020 — By 2026, IoT connections will exceed 23 billion across all major IoT markets. Almost all those connections will be faced with incessant and constantly evolving cyber-threats, forcing implementers and IoT vendors to embrace new digital security options to protect managed fleets and connected assets. Secure device authentication currently stands among the top-tier investment priorities for key IoT markets. Global tech market advisory firm, ABI Research, expects that hardware focused IoT authentication services will reach US$8.4 billion in revenues by 2026.

“There are several key technologies revolving around authentication security that currently transform the IoT device value chain. Chief elements among them revolve around IoT identity issuance, provisioning, authentication, encryption key lifecycle management, access management and attestation,” explains Dimitrios Pavlakis, Industry Analyst at ABI Research. These are the prime focus of IoT vendors who capitalize on the emerging threat horizon to better position their services and explore new IoT monetization models.

“As it currently stands, the IoT is not a secure place for future deployments and both IoT players and digital security vendors are aware of that,” comments Pavlakis. “The good news is that the recent change in thinking has caused a noticeable mentality shift and investment surge for secure authentication technologies across the IoT ecosystem; the bad news is that this also gives rise to many IoT management offerings with questionable levels of security and intelligence.”  

IoT authentication services need to consider a plethora of variables, sharing both operational and connectivity as well as security characteristics. “Just because cybersecurity investments need to enter deeper into the IoT deployment equation does not mean that operational variables will be left unaccounted,” explains Pavlakis. “Bandwidth capacity, connectivity requirements, operational specifications and device heterogeneity, digital footprint and processing power, edge-cloud dependencies, telemetry and intelligence are all key factors that need to be addressed to obtain a sustainable growth for the IoT going forward.”

Many IoT security vendors are taking advantage of the recent IoT investment surge to increase their market footprint and deliver security-first authentication and management services for the IoT supported by a multitude of flexible pricing models. Market leaders and innovative companies offering IoT security services operating in different areas of the IoT value chain include Intel, Microsoft Azure, Amazon Web Services, Entrust Datacard, Rambus, Data I/O, and Globalsign.

These findings are from ABI Research’s Device Authentication in IoT technology analysis report. This report is part of the company’s Digital Security research service, which includes research, data, and ABI Insights. Based on extensive primary interviews, Technology Analysis reports present in-depth analysis on key market trends and factors for a specific technology.

About ABI Research
ABI Research provides strategic guidance to visionaries, delivering actionable intelligence on the transformative technologies that are dramatically reshaping industries, economies, and workforces across the world. ABI Research’s global team of analysts publish groundbreaking studies often years ahead of other technology advisory firms, empowering our clients to stay ahead of their markets and their competitors. 

ABI Research提供开创性的研究和战略指导,帮助客户了解日新月异的技术。 自1990年以来,我们已与全球数百个领先的技术品牌,尖端公司,具有远见的政府机构以及创新的贸易团体建立了合作关系。 我们帮助客户创造真实的业务成果。 

For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.

Contact Info

Global
Deborah Petrara
Tel: +1.516.624.2558
pr@abiresearch.com

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TUV Rheinland: Cyber risks for industrial plants underestimated

TUV Rheinland and Ponemon Institute publish worldwide study on the Cybersecurity of industrial plants. All information at https://go.tuv.com/otsurvey-2020

COLOGNE, July 2, 2020 — Cyberattacks can threaten the industrial facilities of companies even more than their IT systems. However, a holistic view of the security of industrial plants is often lacking. This is a key finding of a recent study on security in industrial companies by TUV Rheinland and the Ponemon Institute.

Operational Technology in the sights of the hackers

Operational Technology (OT) is the main target for cyberattacks on industrial plants. These are devices and systems that control or monitor industrial processes – such as motors, pumps or valves. "OT systems differ in function and technology from classic corporate IT. At the same time, successful cyberattacks on OT systems often cause particularly high levels of damage to the companies affected", explains Petr Láhner, Executive Vice President of the Business Stream Industrial Service & Cybersecurity at TUV Rheinland. "We have therefore placed the Cybersecurity of Operational Technology at the center of our study, following on from the findings of the first study on this subject in 2019".

Measures for IT and OT systems not coordinated

For the "2020 Study on the State of Industrial Security", the independent market research company Ponemon Institute surveyed more than 2,200 cybersecurity experts worldwide from the automotive, health and pharmaceutical, logistics and transport, mechanical engineering, oil and gas and utility sectors. The Ponemon Institute, based in Traverse City, Michigan, is dedicated to independent research on information and privacy management in companies.

The following results show how much cyberattacks endanger OT systems:

  • More than half of the respondents (57 percent) say that their companies firmly expect attacks on OT systems.
  • Almost half (48 percent) are convinced that cyber threats pose a greater risk to OT systems than to the IT environment.
  • Almost two thirds (63 percent) of those surveyed stated that security measures for IT and OT systems are not coordinated in their companies.
  • For almost half of the respondents (47 percent), cyber threats to OT systems have increased over the past year. These include attacks such as phishing, social engineering and extortion software ("ransomware").

"From our point of view, it is crucial that companies tailor their cybersecurity measures to the specific requirements in Operational Technology. For example, some control systems may have limited cybersecurity controls in place and could subsequently be vulnerable to cyber threats. To do this, companies have to assess their OT cyber risk and invest time and money for best effect. It is alarming that in the view of the experts surveyed, there are too few financial or professional resources available for OT security. In addition, a holistic view of the security of industrial plants is often still lacking. In an increasingly networked world, industrial plants are only really secure if both their IT and OT cybersecurity is addressed", Láhner says.

The "Study 2020 on the state of industrial safety" is available for free download at https://go.tuv.com/otsurvey-2020.

About TUV Rheinland

TUV Rheinland stands for safety and quality in almost all areas of business and life. Founded almost 150 years ago, the company is one of the world’s leading testing service providers with more than 21,400 employees and annual revenues of 2.1 billion euros. TUV Rheinland’s highly qualified experts test technical systems and products around the world, support innovations in technology and business, train people in numerous professions and certify management systems according to international standards. In doing so, the independent experts generate trust in products as well as processes across global value-adding chains and the flow of commodities. Since 2006, TUV Rheinland has been a member of the United Nations Global Compact to promote sustainability and combat corruption. Website: www.tuv.com

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YITU Technology received ISO/IEC 27701:2019 certification from BSI, becomes the first Chinese AI company to obtain it

SHANGHAI, July 1, 2020 — On June 30, 2020, YITU Technology, the world’s leading artificial intelligence (AI) company, received the ISO/IEC 27701:2019 certification from the British Standards Institution (BSI) for its privacy information management system, becoming the first AI company in China to receive it.

YITU’s ISO/IEC 27701:2019 certification
YITU’s ISO/IEC 27701:2019 certification

To date, YITU has obtained a number of authoritative international standards certifications for information security and privacy protection, including ISO/IEC 27701:2019 and ISO/IEC 27001:2013. ISO/IEC 27701:2019 is the world’s strictest, widely accepted international certification for privacy information management systems (PIMS) that meet best practices outlined in regulations such as the General Data Protection Regulation (GPDR). 

YITU Technology is the first Chinese AI firm to receive the ISO/IEC 27701:2019 certification

“With the rapid development of AI, the technology has seen in-depth application across numerous sectors and industry chains. The new normal that has been established in the wake of the COVID-19 epidemic is bringing digitization and industrial transformation to the forefront of businesses. A true commitment to confronting data security risks is key to the promotion of a healthy and responsible attitude toward the future growth and development of AI,” said Martin Zhang, Managing Director, BSI for Greater China. “The receipt of the ISO/IEC27701:2019 certification fully demonstrates YITU’s ongoing commitment to protecting data privacy.

With the comprehensive and systematic standardization of ISO/IEC 27701: 2019, YITU has upgraded its Privacy Information Management System (PIMS). The company includes a legal compliance unit responsible for protecting user privacy, an information security unit responsible for the management and technical implementation and involves human resource unit to enhance a culture of responsibility.

By sharing relevant insights and cases with industry and academia, YITU contributed in the writing of Chinese national standards such as requirements for the protection of biometric Information, voiceprint recognition data and other information security technologies, and participated in the preparation of national AI Security Standardization White Paper (2019 Edition) and AI Ethics and Risk Management Report (2020 Edition).

YITU’s AI-empowered solutions have been rapidly adopted by hundreds of hospitals and organizations worldwide fighting against Covid-19 on the frontlines. The ability to quickly take up the challenge and responsibility can be ascribed to the company’s commitment to complying with local laws and regulations and having made the protection of user privacy a top priority. By implementing policies and international standards, YITU has taken upon itself a leadership role in building a more standardized and trustworthy AI ecosystem, with the aim of building a safer, smarter and healthier world.

About YITU Technology

YITU Technology is a pioneer in practical artificial intelligence research and innovation that provides advanced AI-based business solutions to build a safer, smarter and healthier world. YITU owns a world-class R&D team that drives industrial development to find comprehensive solutions in the areas of machine vision, speech and language understanding.

To learn more, please visit www.yitutech.com

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RedShield appoints Senior Verizon Cyber Security VP as Chief Revenue Officer in U.S. Push

AUCKLAND, New Zealand, July 1, 2020 — RedShield, specialists in web application shielding, has announced the appointment of global cyber security leader, James Carrigan Jr. as Chief Revenue Officer (CRO), responsible for sales globally.

Based in New York, Carrigan joins the cyber security challenger from Verizon Communications, where he served as Vice President & Global Managing Director of Cyber Security Solutions. Prior to this, the industry veteran spent 10 years at AT&T as Vice President of Cyber Security Sales where he started and built the business unit to a USD$500M+ organization. 

The senior appointment follows a USD$10M Series B funding round in September 2019, focused on expanding the New Zealand born business’ global footprint and accelerating its U.S. growth.

“I’m incredibly excited to join RedShield and help extend the company’s market leading position,” said RedShield CRO, James Carrigan Jr. “I firmly believe in the RedShield product offering and its ability to take on security effectiveness for organizations. Their customer centric approach and focus on genuine innovation comes at a time when companies globally are looking to secure the productivity of their workforce, digitally transform their business, protect their customers and become more resilient. Some of the top U.S. businesses are taking notice, and I’m excited to be a part of that growth trajectory.”

Andy Prow, CEO and Co-Founder, RedShield commented, “Jim’s decision to bet his decades of experience in multinational cybersecurity roles on RedShield’s proposition is a strong signal to the team and the industry that we have a winning formula.

“Jim’s credentials speak for themselves, and as we look to scale our business in our global markets, Jims experience, relationships and trusted credentials will help us to effectively reach customers who have a clear need for our solutions.”

For more information on RedShield www.redshield.co 

— ENDS —

About RedShield

RedShield makes vulnerabilities in web applications vanish without touching a single line of application code. Our software shields enable you to accelerate digital transformation initiatives and speed to market by removing the holes cybercriminals seek to exploit. Founded in New Zealand, owned and operated by an experienced team of penetration testers and security technologists, we have become known for taking on the security challenges that no one else will.

Global Security Industry Shifts to Service-based Solution Offerings Post-Pandemic

Security markets across countries will recover at a different pace but the outlook is promising, finds Frost & Sullivan 

SANTA CLARA, California, June 25, 2020 — Frost & Sullivan’s recent analysis, Post-Pandemic Growth Opportunity in the Global Security Industry, finds that the security industry has tremendous investment opportunities despite the economic slowdown witnessed due to COVID-19. Under an aspirational recovery scenario, the global security industry is likely to grow at a compound annual growth rate (CAGR) of 4.3%, garnering revenue of $140.60 billion by 2025 from $109.30 billion in 2019. The conservative forecast scenario predicts that the industry will generate $131.01 billion between 2019 and 2025, at a CAGR of 3.1%. In the pre-COVID-19 forecast, the industry was estimated to increase at a CAGR of 7.1%, generating revenue of $164.97 billion over the forecast period.


For further information on this analysis, please visit: http://frost.ly/46o

"COVID-19 will cause a brief slowdown in the security market after almost a decade of uninhibited progress," said Danielle VanZandt, Aerospace, Defense & Security Industry Analyst at Frost & Sullivan. "Additionally, while some security sectors may find themselves experiencing a slower recovery than others, much of the industry will witness a shift to more service-based solution offerings after years of hesitance by customers to adopt these solutions."

VanZandt added: "The key security markets such as disaster management, banking and finance, and airport security will recover at a different pace, and the time taken to return to pre-crisis spending levels will also vary significantly. Markets that will record higher-than-average CAGRs during the recovery period include ports (4.5%), disaster management (4.0%), first responders (4.0%), and mass transit (4.0%)."

Despite a marginal slowdown expected in 2020 and 2021, strong demand-side trends will present immense development potential for security market participants. The following trends are forecast to generate growth opportunities in this sector:

  • Digitalization priorities: Remote/cloud-connected access to security systems and monitoring tools will witness a drastic rise in demand as manned guarding will become extremely limited due to stay-at-home orders issued by state or federal governments, and likely not recover once those orders expire.
  • Emphasis on contactless technologies: In the post-pandemic period, contactless technologies such as biometrics, remote access and authentication, and multi-use analytics solutions will attract investments.
  • Plug-and-play surveillance: Customer willingness to deploy plug-and-play surveillance equipment over permanent system additions due to cost-effectiveness will offer vendors repeat business opportunities.  
  • Sensors-to-action: Vendors must prioritize the development/enhancement of data analytics and sensor networks’ capabilities to provide increased value to customers without having to purchase new solutions or equipment.

Post-Pandemic Growth Opportunity in the Global Security Industry is the latest addition to Frost & Sullivan’s Aerospace, Defense & Security research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.

About Frost & Sullivan
For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Post-Pandemic Growth Opportunity in the Global Security Industry
K4FE-23

Media Contact:
Srihari Daivanayagam
Corporate Communications
M: +91 9742676194; P: +91 44 6681 4412
E: srihari.daivanayagam@frost.com

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