STOCKHOLM--(BUSINESS WIRE)--The rise of the Internet of Things in Buildings (BIoT) offers up tangible business benefits and many new opportunities for innovation, but these need to be carefully weighed up against the potential risks of increased cyber security vulnerability. Our report finds that if threats are not properly managed by stakeholders across the supply chain, we run the risk of undermining consumer confidence in the market.
The increased proliferation of smart devices, combined with persistent concerns over cyber risk and data privacy and an increased incidence of cyber attacks against smart buildings will drive a significant increase in demand for new cyber security hardware, software and services in the market.
Memoori estimates that global revenues for smart building cyber security will reach $8.65 billion by 2021, up from an estimated $4.26 billion in 2016, which represents a healthy CAGR of over 15% during the forecast period.
For smart buildings, a robust building cyber security plan is critical. Armed with knowledge from security audits and security risk assessments, organizations can make more informed risk management decisions and proactively identify the steps required to reduce threats. Even after a plan has been developed, an effective defense involves an ongoing iterative process, which must be continuously reviewed against the constantly changing threat environment.
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About the Report
At 160 pages with 38 charts & tables & ONLY $1,500 USD for a single user license, the Cyber Security in Smart Commercial Buildings 2017 report filters out all the important conclusions, supported by facts, to demonstrate what is shaping the future of smart buildings. For more information, visit; http://www.memoori.com/portfolio/cyber-security-smart-commercial-buildings-2017-2021/
Memoori is an independent smart building research organization. We offer advice on technology in smart buildings to companies across the value chain, supporting them in making strategic business decisions. For more information, visit http://www.memoori.com