A January 2019 report by BCC Research found that the North American Internet of Things security market is expected to grow at an annual rate of approximately 25 percent from 2018 to 2023. This market was valued at $1.7 billion in 2018 and is projected to rise to $5.2 billion in 2023.
This report stated that this anticipated growth is a result of increased implementation of endpoint devices, as well as security solutions for these products. In addition, this rise in prevalence is likely due to the increased adoption of IoT across a variety of industries.
Organizations such as Cisco, Sophos and Infineon are leading the innovation charge in IoT security. Although many security vendors have introduced endpoint security solutions in their offerings, this area of the IoT security space is expected to grow exponentially, providing increased strength against cyberthreats and malware.
The need for endpoint security solutions
As enterprises around the world have increasingly adopted technology in all stages of the business operation, they have relied on these platforms to collect and store data. However, with the rise of BYOD practices and hackers' ability to counter these business' security measures, endpoint security has become a relevant issue in modern companies. As many organizations allow their employees to work from home and on the road, their centralized security systems are not impenetrable to attacks by sophisticated hackers. Instead, organizations have implemented endpoint security technologies to provide supplemental protection against threats that can impact non-centralized devices.
In years prior, organizations relied on antivirus technologies to protect their endpoints. However, modern, intelligent cybersecurity hackers have found loopholes in these systems, workarounds that allow them to gain access to confidential and otherwise crucial corporate data. Now, endpoint security vendors have innovated their processes, incorporating automation to support their security teams and advancing their capabilities to protect organizations from both known and unknown attacks. To do so, they require employees within corporations to install anti-cyberattack software on each endpoint and device, in addition to implementing their centrally located security software.
Hiring and recruiting talent in the IoT sector
As the IoT security market expands, businesses will need leaders who are ready to adapt to and implement necessary changes. Fortunately, YES Partners is ready to assist companies in their search for tomorrow's leaders. At YES Partners, we can help you find executives with the skills and expertise necessary to innovate your company's IoT processes. If you'd like to see some of the roles we have already successfully placed, click here.
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