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Rising cyber-attacks on smart buildings driving global IT/OT security market, says Frost & Sullivan

August 13, 2019
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According to a report by Frost & Sullivan, widespread digitisation of building operations along with a rise in  incidences of cyber-attacks on operational environments are leading to the growing adoption of  information technology (IT)/operational technology (OT) security services in smart buildings.

Further the report added, the market for IT/OT security services is projected to reach $897 million by 2022, rising at a compound annual growth rate of 37 per cent.

As per Frost & Sullivan, smart devices control building management activities, including temperature control, access and lighting control, communication, and safety systems in many enterprises. Such converged IT/OT environments have made enterprises more vulnerable to cyber-attacks.

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