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Akamai acquires IoT security vendor Inverse to enhance its security services

Akamai acquires IoT security vendor Inverse to enhance its security services

The acquisition will provide organizations with a deeper understanding of the expected network behaivor of IoT and connected devices.

San Francisco. Cloud-based service provider, Akamai is set to acquire Montreal-based open-source consulting and integration company, Inverse to enhance IoT security services. The acquisition aims to boost its enterprise security capabilities and further expands its portfolio of zero trust and secure access service edge solutions for IoT devices.

Akamai intelligent edge security platforms interact with over 1 billion devices and 100+ million IP addresses every day, leveraging AI and machine learning. Akamai allows to protect entire architecture across all data centres and cloud providers, while maintaining governance and control. 

Inverse offers a sturdy data repository and world-class algorithms, capable of recognizing an extensive range of IoT, mobile, and other device types such as HVAC, lighting systems, medical equipment, robotics, printers, etc., along with a broad knowledge of their expected network practices.

On the acquisition deal, executive Vice President, platform and general manager, enterprise division, Akamai Technologies said, “By combining the Inverse device fingerprint data repository with Akamai’s own security data from the 1.3 billion device interactions that take place daily across the Akamai Intelligent Edge security platform, we believe we can create an industry leading solution to apply zero trust controls and enhanced security to the full landscape of devices and workforce.”

President and chief executive officer, Inverse said, “Any number of internet-connected devices can be a jumping-off point for malware to discover and exfiltrate sensitive corporate data. The Fingerbank data lake provides visibility into the device landscape – what the devices are communicating with and their typical behaviour. With an anticipated 41.6 billion internet-connected devices by 2025, according to IDC, this data is essential so that enterprises can apply the correct security controls.”

TechSci research said, “While IoT explosion has offered a lot of opportunities for manufacturers as well as consumers, it also poses risk of security. With more devices getting interconnected, securing them all has become a biggest challenge. Manufacturers and software developers are facing challenges to address the vulnerabilities associated with the data breach. Hence, there has been a rise in demand for IoT security devices, which is propelling the growth of global IoT security market in the coming years.”

According to TechSci Research onGlobal IoT Security Market By Component (Solution, Service), By Deployment (Cloud, On-premise), By Enterprise (SME, Large Enterprise), By Security Type (Network Security, End-point Security, Application Security, Cloud Security and Others), By Application (Smart Manufacturing, Smart Energy & Utilities, Connected Logistics, Smart Home & Consumer Electronics, etc.), By Region, Competition, Forecast & Opportunities, 2025”, Global IoT Security market is expected to grow at a robust pace of around 17% until 2025 due to the growing demand for cloud-based services for authentication process and increasing number of malware attacks on IoT devices. Increasing expenditure by the major vendors operating in the industry on Internet of Things and enhancements is anticipated to positively impact the growth of market over the next few years. However, absence of standardization for IoT devices and lack of awareness of security risks might negatively impact the market growth.

 

According to TechSci research on “Global IoT Device Management Market By Component (Software v/s Service), By Deployment Mode (On-Premise v/s Cloud), By Organization Size (Large Enterprises v/s SMEs), By Application (Smart Retail, Connected Health, Connected Logistics, Smart Utilities, Smart Manufacturing, Others), By Company, By Region, Forecast & Opportunities, 2025”, Global IoT device management market is expected to grow at a robust rate of around 22% during the forecast period. The global IoT device management market is driven by the increasing incidences of cyber-crimes and cyber threats which has led to the increase in security concerns within enterprises. This in turn increases the need to deploy IoT solutions for ensuring organizational safety and security thereby driving the growth of IoT device management market during forecast period. Additionally, increasing penetration of communication and networking technologies further fosters the market growth. Furthermore, the extensive adoption of sensors is expected to create lucrative opportunities for the market growth through 2025. However, lack of IT infrastructure and finances in the emerging countries can hamper the market growth over the next few years. Moreover, lack of standardization also impedes the market growth

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