There is a strong interrelationship between the BIOT market and the cyber security market for smart buildings. 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 help drive a significant increase in demand for new cyber security hardware, software and services in the market.
Within its 160 Pages and 38 Charts and Tables, the Report Filters Out All the Key Facts and Draws Conclusions, So you Can Understand Exactly what is Shaping the Future the Market for Cyber Security in Smart Buildings;
Buildings control systems are increasingly being deployed along with embedded communications technology to provide critical services that allow a building to meet the functional and operational needs of building occupants. Smart buildings promise significant benefits to owners and operators in terms of efficiency, safety, comfort and functionality, but these systems also carry potential costs, as without the right levels of protection, they can act as tempting targets for would-be hackers and or malicious insiders.
This rise of the IoT offers up tangible business benefits and tantalizing new opportunities for innovative business approaches, but these need to be carefully weighed up against the potential risks of increased cyber security vulnerability. If the risks are not properly managed by stakeholders across the supply chain, we run the risk of undermining consumer confidence in the market.
In our regional analysis of market revenues for cyber security in smart commercial buildings, the North American market is the dominant global force, representing nearly half (47%) of global revenues in 2016 with just over $2 Billion in annual revenues, rising at a CAGR of 13.8% to $3.83 Billion by 2021.
Skills shortages exist globally, but are felt even more intensely in the European market, with 30% of companies unable to fill open cyber security positions, the U.S. is not far behind, with 27% having issues, while the Asian market fares better, with only 22% of roles unfilled. This skills shortage may well prove both dangerous and expensive. It leaves businesses vulnerable to attacks resulting in reputational damage and data loss.
2. Cyber Security Risks for Smart Buildings 2.1 OT vs IT - Systems Convergence & Integration 2.2 The Impact of the IoT 2.3 Smart Buildings Risk Evaluation 2.4 Smart Building Costs & Impacts 2.5 Case Studies of Recent Attacks
3. The Global Cyber Security for Smart Buildings Market - Sizing & Growth Projections 3.1 Hardware 3.2 Software 3.3 Services
4. Market Analysis by Region 4.1 Regional Comparisons 4.2 North America 4.3 Asia Pacific 4.4 Europe