Revenue opportunity for M2M solution security to reach US$700m by 2018, says Beecham
Cambridge, UK, 3 October 2013 – Beecham Research has announced the publication of a major new report on solution security for the machine-to-machine and Internet of Things (IoT) marketplace.
In recent surveys, Beecham has identified end-to-end solution security as the leading concern for solution providers and for adopters of new M2M solutions. The report, “Issues and Business Opportunities in Security for M2M Solutions,” identifies the importance of right-sizing security for M2M solutions so as “not to kill the M2M patient” with an over-enthusiastic interpretation of the threats and risks involved. The report examines the widely varying degrees of security required for M2M solutions in different verticals and cautions a careful review of risk tolerance to avoid adopting overly strict security policies at the expense of the economic viability of the total solution.
In addition, the report contains extensive industry expert perspectives and a large suite of 17 profiles of leading market players from throughout the overall M2M value chain – used to highlight key issues arising. The report examines the value of security, assessing the costs versus the potential returns, and proposes four key revenue stream elements to cover solution security from a holistic viewpoint. The report also examines best practices and new business and partnership opportunities to create a more secure future for M2M.
“Having analysed the reality of security for M2M solutions, we have discovered emerging new principles and ways to make security both sufficient and economically viable. There is a profusion of new elements of security and new business models that will enable new markets,” said Professor Jon Howes, Technology Director at Beecham Research and author of the report. “We and our research contacts in the industry are excited by the new and ever-widening ecosystem for security. Engaged with correctly, this can at long last change security into a value producing capability instead of a resented cost.”