Cyber Security in Smart Commercial Buildings 2017 to 2021

  • ID: 4273175
  • Report
  • Region: Global
  • 160 Pages
  • Memoori Business Intelligence Ltd
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Global Revenues for Smart Building Cyber Security will Reach $8.65 Billion by 2021, up from an Estimated $ 4.26 Billion in 2016, Representing a Healthy CAGR of Over 15% Over the Forecast Period

Why Do You Need This Report?

  • This report provides, in plain English, original analysis & forecasts, detailing prevailing trends and best practice for Cyber Security risk mitigation, analysis of the enablers, drivers and barriers shaping the global market.
  • It is a comprehensive assessment of the market structure, prevailing and emerging business models and the competitive landscape, as well as crucial insights into what is driving M&A and investments into the market.
  • The report is designed to be read and understood by those without any particular technical expertise, however the complex nature of the market and technologies that help shape it, necessitate some discussion of various technologies. Where acronyms or technical terms are used, they are fully explained.
  • Our assessment takes into account previous Memoori reports into the markets for the Internet of Things for buildings (BIOT), and Big Data for Smart Buildings, where concerns over cyber security and the availability of security products and services were highlighted as having a significant impact on market developments.

There is a strong interrelationship between the BIOT market and the cyber security market for smart buildings. The increased proliferation of smart devices, combined with persistent concerns over cyber-risk and data privacy and an increased incidence of cyber attacks against smart buildings will help drive a significant increase in demand for new cyber security hardware, software and services in the market.

Within its 160 Pages and 38 Charts and Tables, the Report Filters Out All the Key Facts and Draws Conclusions, So you Can Understand Exactly what is Shaping the Future the Market for Cyber Security in Smart Buildings;

  • Buildings control systems are increasingly being deployed along with embedded communications technology to provide critical services that allow a building to meet the functional and operational needs of building occupants. Smart buildings promise significant benefits to owners and operators in terms of efficiency, safety, comfort and functionality, but these systems also carry potential costs, as without the right levels of protection, they can act as tempting targets for would-be hackers and or malicious insiders.
  • This rise of the IoT offers up tangible business benefits and tantalizing new opportunities for innovative business approaches, but these need to be carefully weighed up against the potential risks of increased cyber security vulnerability. If the risks are not properly managed by stakeholders across the supply chain, we run the risk of undermining consumer confidence in the market.
  • In our regional analysis of market revenues for cyber security in smart commercial buildings, the North American market is the dominant global force, representing nearly half (47%) of global revenues in 2016 with just over $2 Billion in annual revenues, rising at a CAGR of 13.8% to $3.83 Billion by 2021.
  • Skills shortages exist globally, but are felt even more intensely in the European market, with 30% of companies unable to fill open cyber security positions, the U.S. is not far behind, with 27% having issues, while the Asian market fares better, with only 22% of roles unfilled. This skills shortage may well prove both dangerous and expensive. It leaves businesses vulnerable to attacks resulting in reputational damage and data loss.

Who Should Buy This Report?

The information contained in this report will be of value to all those engaged in managing, operating and investing in Commercial Real Estate (and their Advisers) around the world. In particular those wishing to acquire, merge, sell or find alliance partners will find it particularly useful.

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1. The Cyber Risk Threat Landscape
1.1 Cyber Security Threat Classification
1.2 The Cyber Attack Lifecycle
1.3 Cyber Security Threat Vectors
1.4 Cyber Security Attack Actors & Motivations

2. Cyber Security Risks for Smart Buildings
2.1 OT vs IT - Systems Convergence & Integration
2.2 The Impact of the IoT
2.3 Smart Buildings Risk Evaluation
2.4 Smart Building Costs & Impacts
2.5 Case Studies of Recent Attacks

3. The Global Cyber Security for Smart Buildings Market - Sizing & Growth Projections
3.1 Hardware
3.2 Software
3.3 Services

4. Market Analysis by Region
4.1 Regional Comparisons
4.2 North America
4.3 Asia Pacific
4.4 Europe

5. Vertical Market Status & Opportunities
5.1 Vertical Market Comparisons
5.2 Offices
5.3 Retail
5.4 Banking & Financial Services
5.5 Hospitality
5.6 Government
5.7 Healthcare

6. Market Drivers
6.1 Persistent Concerns Over the Risks of Cyber Security & Data Privacy
6.2 Rising Cyber Security Spending
6.3 Board Level Involvement in Cyber Security is Growing
6.4 Rising Incidence and Cost Impacts for Smart Buildings
6.5 BIoT Market Growth
6.6 Regulatory & Legislative Drivers

7. Market Challenges
7.1 Limited Market & Stakeholder Awareness of the Risks
7.2 Lack of Organizational Preparedness
7.3 The Cyber Security Skills Gap
7.4 Blurred Lines of Ownership, Control & Responsibility
7.5 Corporate Structure, Culture and Governance
7.6 Building Systems Limitations & Vulnerabilities
7.7 Limited IoT Device Functionality & Security concerns

8. Best Practice & Recommendations
8.1 Identify & Understand the Nature of the Threat
8.2 Prepare Governance, Strategies & Policies
8.3 Protect Networks & Systems
8.4 Monitoring & Detection
8.5 Incident Response & Recovery

9. Standards
9.1 Cyber Security Industry Standards
9.2 Building Control Related Standards

10. The Regulatory Environment
10.1 The State of Regulations for Cyber Security
10.2 Relevant National Regulations

11. The Wider Cyber Security Vendor Landscape
11.1 The Wider Cyber Security Vendor Landscape
11.2 Cyber Security Products and Services

12. Smart Building Market Offerings and Vendor Strategies
12.1 Smart Building Market Offerings & Market Dynamics
12.2 Incumbent Building Controls Players
12.3 Emerging Players & Startups
12.4 Legal & Insurance Service Providers

13. Partnerships and Alliances

14. Cyber Security Deals Analysis

List of Charts and Figures

Fig 1.1 - Types of Cyber Attacks Experienced (2015-2016, 237 Benchmarked Companies)
Fig 1.2 - The Cyber Attack Life Cycle
Fig 1.3 - Cyber Security Threat Vectors for Smart Buildings
Fig 1.4 - Cyber Security Attack Motivations (Proportion of overall attacks)
Fig 2.1 - The Internet of Things in Smart Commercial Buildings
Fig 2.2 - Building Elements perceived to be at High Risk
Fig 2.3 - Awareness Levels of Cyber Security Issues for Building Automation Systems
Fig 2.4 - Shodan Results for Connected Devices - Selected Protocols April 2017
Fig 2.5 - Costs of Cybercrime ($ million / Average Case)
Fig 3.1 - The Global Cyber Security for Smart Buildings Market - Sizing & Growth Projections
Fig 3.2 - Global Market for Cyber Security in Smart Commercial Buildings 2016 to 2021 ($ Billion)
Fig 3.3 - Cyber Security in Smart Commercial Buildings - Revenues by Hardware, Software & Services 2016 to 2021 ($ Billion)
Fig 4.1 - Cyber Security in Smart Commercial Buildings - Revenues by Region 2016 to 2021 ($ Billion)
Fig 4.2 - Annualized Cost of Cyber Crime Incidents in Benchmarked Companies by Country ($ Millions)
Fig 4.3 - Global Cybersecurity Index
Fig 4.4 - Cyber Preparedness Rankings Comparison
Fig 4.5 - Cybercrime as a percentage of GDP
Fig 5.1 - Top 10 Industry Targets, % of Attacks 2016
Fig 5.2 - Password-Less Building Automation Systems that are Accessible via the Internet (% of Discovered Systems, August 2016)
Fig 5.3 - Security Rating by Industry (Selected Industries)
Fig 5.4 - Average Annualized Cost Impact of Cyber Crime by Industry Sector (Selected Industries, $m)
Fig 6.1 - Leading challenges facing IoT implementations
Fig 6.2 - Cyber Security Spending Priorities (Oct 2016)
Fig 7.1 - Leading Shortages of Existing Skills in IT Organizations (Percentage of Respondents)
Fig 7.2 - Percentage of Companies unable to fill Open Cyber Security Positions in their Enterprises
Fig 8.1 - Cyber Security Best Practice
Fig 8.2 - A Layered Approach to Smart Building Cyber Security
Fig 14.1 - Cyber Security M&A Volume by Year 2012 to Q4 2016 (Number of Deals)
Fig 14.2 - Leading Cyber Security Startup Acquirers (Number of Acquisitions)
Fig 14.3 - Cyber Security Investment Deals 2012 to Q4 2016 (Total Number of Deals and Combined Value)

List of Tables

Table 1.1 - Cyber Security Attack Actors - Motivations & Objectives
Table 2.1 - Information Technology and Operational Technology Compared
Table 2.2 - Physical Impact Scenarios
Table 5.5 - Smart Building Cyber-Attack Risk Matrix by Vertical Market
Table 9.1 - Relevant Cyber Security Industry Standards
Table 9.2 - Building Control Related Standards
Table 10.1 - Relevant National Regulations
Table 13.1 - Partnerships & Alliances

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