In the rush to adopt Internet of Things technology, innovative enterprises have left themselves vulnerable to cyber attacks and data theft.
Five months after releasing a report that suggested companies around the world could lose $5.2 trillion over the next five years to these problems, professional services giant Accenture has snapped up ‘Security of Things’ firm Deja vu.
With deep expertise in protecting connected devices and IoT networks against malicious threats, the firm will join Accenture’s broader cyber defence division, which offers organisations around the world services including application security, digital identity protection and strategic risk minimisation.
“For technology companies, third-party suppliers and consumers alike, IoT security controls often remain an afterthought – which is why it’s critical that security is built in from the start for any new products, processes or services,” said Accenture senior managing director Kelly Bissell in a statement. “Deja vu Security’s team of innovative specialists brings considerable technical cybersecurity skills, making them a strong strategic fit, and will help our clients reduce the risk of their connected solutions.”
As the Internet of Things proves itself to be a disruptive technology with impacts in various different industries, companies with expertise in this area continue to grow, and larger firms are seeking to purchase these companies as a way of expanding their platforms in new directions.
But while growth forecasts in the sector are optimistic, concerns over cybersecurity represent a bottleneck, with studies suggesting that the vulnerabilities of IoT devices are preventing them from being widely adopted.
Having made several acquisitions relating to this technology over the past few years, Accenture has already secured a strong foothold in IoT. And with the expertise needed to protect these devices from cybersecurity threats, the firm will be well-positioned to take a dominant position in this emerging market, which is forecast to reach a CAGR of around 30 percent as the risks involved gradually diminish.
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