Waterloo, ON, April 19, 2023: According to a report by McKinsey, the convergence of enterprise IT cybersecurity solutions with IoT platforms could increase the IoT total addressable market (TAM) by up to 50 percent by 2030, translating into a TAM of up to US $750bn.
The report says that digital trust is ranked as a critical element of the purchase decision by 61 percent of IoT buyers. However, few companies can converge cybersecurity solutions with IoT platforms, and BlackBerry is well-positioned to do so. BlackBerry is organized around the two high-growth markets of cybersecurity and the IoT and is a leader in enterprise and embedded security.
BlackBerry’s expertise in delivering secure connectivity solutions, with unwavering user privacy, is why it is trusted around the world. The company’s long-term strategy aligned with the two key markets of cybersecurity and the IoT is validated in these market insights from McKinsey. BlackBerry provides intelligent security software and services to enterprises and governments around the world, securing more than 500 million endpoints including over 215 million vehicles. The company’s vision is to secure a connected future that can be trusted.
The convergence of cybersecurity and the IoT expands BlackBerry’s differentiation strategy, and the company is uniquely positioned to secure the interconnected IoT. The report by McKinsey underscores the importance of digital trust in the purchase decision of IoT buyers. BlackBerry’s capabilities in the convergence of cybersecurity and the IoT align with the company’s strategy and will help it capitalize on the growing market opportunity.