Convergence increases the Internet of Things
total addressable market by up to 50 percent
WATERLOO, ON, April 17,
2023 /PRNewswire/ -- For the Internet of Things (IoT)
to reach its potential as a fully interconnected ecosystem the
convergence of cybersecurity and the IoT is critical, according to
a new and independent report published by McKinsey, and
cybersecurity must be embedded in the IoT as opposed to being a
separate software category that is bolted-on. McKinsey states
that few companies can converge enterprise IT cybersecurity
solutions with IoT platforms, and BlackBerry is a company that is
well-positioned to do so. The full report from McKinsey can
be viewed here.
BlackBerry today is organized around the two high-growth markets
of cybersecurity and the IoT and is a leader in enterprise and
embedded security. The convergence of cybersecurity and the
IoT is aligned with BlackBerry's capabilities, uniquely positioning
the company to secure the interconnected IoT and expanding the
company's differentiation strategy. McKinsey has determined
that the convergence of cybersecurity and the IoT, translates to an
IoT total addressable market (TAM) of up to $750 billion by 2030, which is 50 percent more
than current IoT market forecasts without convergence.
"Through a survey of companies across geographies and
industries, McKinsey found that digital trust is ranked as a
critical element of the purchase decision by 61 percent of IoT
buyers. BlackBerry's expertise in delivering unmatched secure
connectivity solutions, with unwavering user privacy, is why we are
trusted around the world," said John
Chen, Executive Chairman & CEO. "We are pleased
that our long-term strategy, aligned with the two key markets of
cybersecurity and the IoT, is validated in these market insights
from McKinsey. Our bold thought leadership asserted in 2021
that the convergence of IT and OT is the key to unlocking the value
of the IoT and to delivering the next revolution in how we live and
work, and the combination of our enterprise and embedded security
portfolios puts us in the unique position to deliver on this market
need."
The referenced report is published independently by McKinsey
and this press release is issued independently by
BlackBerry.
About BlackBerry
BlackBerry (NYSE: BB; TSX: BB) provides intelligent security
software and services to enterprises and governments around the
world. The company secures more than 500M endpoints including over 215M vehicles. Based in Waterloo, Ontario, the company leverages AI
and machine learning to deliver innovative solutions in the areas
of cybersecurity, safety and data privacy solutions, and is a
leader in the areas of endpoint management, endpoint security,
encryption, and embedded systems. BlackBerry's vision is
clear - to secure a connected future you can trust.
BlackBerry. Intelligent Security. Everywhere.
For more information, visit BlackBerry.com and follow
@BlackBerry.
Trademarks, including but not limited to BLACKBERRY and
EMBLEM Design are the trademarks or registered trademarks of
BlackBerry Limited, and the exclusive rights to such trademarks are
expressly reserved. All other trademarks are the property of
their respective owners. BlackBerry is not responsible for
any third-party products or services.
Media Contact:|
BlackBerry Media Relations
+1 (519) 597-7273
mediarelations@BlackBerry.com
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SOURCE BlackBerry Limited