Sunday, 22 May 2016

On 00:49 by admin   No comments
Venture capital investment in physical cybersecurity startups rose by 78 per cent to $228 million in 2015, and will rise to $400 million in 2016 as rapid adoption of the Internet of Things (IoT) raises the threat to products such as connected cars, smart homes and future factories, according to Lux Research.

As organizations begin to connect their internal processes and machines to the Internet, security remains weak on account of multiple factors including cost and the lack of adequate solutions. This lack expands the landscape of problems, adding to known risks and offering an even bigger market for security startups.

“Connected consumer and business products have begun flooding the market, but security has been an afterthought. The world now has to figure out how to secure the multitude of things that have recently become connected,” said Mark B√ľnger, Lux Research Vice President and lead author of the report titled, “Cybersecurity Venture Investment in Pervasive Computing and in the IoT.”

“Unlike the hacking of credit card numbers and Hollywood feature films, these attacks have more dangerous consequences and threaten the integrity of critical infrastructure,” he added.

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