POINT ROBERTS, Wash., Oct. 03, 2018 (GLOBE NEWSWIRE) -- Investorideas.com, a leading investor news resource covering security stocks releases a sector snapshot of the security market including video surveillance technology, cybersecurity and sensor technology companies.
The new normal of security threats in our personal and corporate lives has created a critical need for increased technology, innovation and implementation.
According to recent research that projects, the global video surveillance market to reach $62.62 Billion by 2023, “The increasing demand for Video Content Analytics and Video Surveillance as a Service incorporation of artificial intelligence in video surveillance systems, increasing demand of intelligent transportation systems and integration of surveillance with technologies such as drones and body-worn cameras have been identified as the key opportunities that could escalate the market growth in the coming years.”
One company seeing first-hand the demand and industry growth, DirectView Holdings, Inc. (OTC: DIRV), a company focused on ownership and management of leading video and security technology companies, just announced the Company's wholly-owned subsidiary, Virtual Surveillance has been contracted to provide and install surveillance equipment for a Texas municipality. This contract is a follow- up to recent contracts the company was awarded in the hotels and education markets.
According to the press release, “Phase one of the contract was to service local police department and jail with security cameras and access control. Phase two of the contract involves upgrading various parks and recreation locations, providing total surveillance visibility throughout the region.”
Roger Ralston, CEO of DirectView, said, "It is a true honor and testament to our team and the products and services we provide to have won this contract. I am proud to say that our team is working closely with area officials to make the community a safer place. The transition to new equipment will be seamless, and we are eager to see the project completed in a timely fashion. Management is confident that the municipality will be pleased with the new technology. We've found that a happy client almost always comes back for more equipment, further installations and is the best source of referrals.”
The reminder that security and threat detection technology is critical was reinforced this week with breaking news that two pieces of mail delivered to the Pentagon mail facility on Monday have initially tested positive for ricin, according to a US defense official.
CNN reported, “The two suspicious envelopes sent to the Pentagon were addressed to Secretary of Defense James Mattis and to Chief of Naval Operations, Adm. John Richardson”, the official told CNN. Ricin is a highly toxic compound extracted from castor beans that has been used in terror plots. It can be used in powder, pellet, mist or acid form. If ingested, it causes nausea, vomiting and internal bleeding of the stomach and intestines, followed by failure of the liver, spleen and kidneys and death by collapse of the circulatory system.”
A company that may provide solutions for chemical detection, FLIR Systems, Inc. (NASDAQ:FLIR), a sensor company that also provides solutions for security and surveillance just announced it received an award from the United States Department of Defense (DOD) Joint Program Executive Office for Chemical Biological Radiological and Nuclear Defense (JPEO-CBRND) in support of the Multi-Phase Chemical Agent Detector (MPCAD) program. The Other Transaction Authority Agreement (OTA) is valued at $28.7 million, with execution extending through mid-2022.
The company said in its news, "We are proud to be selected as part of the US Military's critical next generation chemical sensing program," said James Cannon, Chief Executive Officer at FLIR. "This award enables our team to further fulfill its mission to protect the lives and livelihoods of our Soldiers, Sailors, Airmen and Marines against the threat of chemical attack."
You can’t talk about security risks without being reminded on a weekly basis of the most recent cybersecurity hack and personal data breach. The recent Facebook (Quote) hack that impacted 50 million users now apparently will have a massive financial impact on Facebook as well with recent headlines, “Facebook could face $1.63bn fine under GDPR over latest data breach.”
According to recent research, “The global cybersecurity market was valued at USD 103.84 billion in 2017 and is expected to reach a value of USD 242.57 billion by 2023 at a CAGR of 15.19% over the forecast period of 2018- 2023.”
October 1st marked the start of the 15th annual National Cybersecurity Awareness Month (NCSAM), as government agencies, businesses and consumer groups across the US encourage citizens to be more #CyberAware.
Russ Schrader, Executive Director of the National Cyber Security Alliance, told The Daily Swig ahead of the launch, “It is our shared responsibility to help protect the internet – we all need to do our part to keep our networks safe.”
Elsewhere, European Cybersecurity Month (ECSM) also kicked off yesterday with its sixth annual campaign.
Aside from educating people on the dangers at home, the NCSA hopes to encourage more individuals to consider a career in cybersecurity – a rapidly growing job market struggling to fill its many vacant positions.
Last year, there were 350,000 unfilled cybersecurity positions in the US alone; globally this figure is expected to reach 3.5 million by 2021, according to research by Cybersecurity Ventures.
Cybersecurity leader, Fortinet Inc. ( NASDAQ: FTNT) is constantly innovating to stay ahead of the threats and recently was recognized as a Gartner Magic Quadrant for Unified Threat Management (SMB Multifunction Firewalls) Leader for Ninth Time. Fortinet secures the largest enterprise, service provider and government organizations around the world.
For investors following the stock, Fortinet will be reporting earnings and will hold a conference call to discuss its third quarter 2018 financial results on Thursday, November 1 at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time).
In other cybersecurity news, Viasat Inc. (NASDAQ: VSAT), announced that it has made new security capabilities available for U.S. and international Five Eyes (FVEY) Naval Forces. Viasat introduced its integrated Mobile Dynamic Defense (MDD) cybersecurity software for use at sea to securely capture and distribute sensitive data to onshore counterparts and defend against rapidly evolving cyber threats during a maritime mission.
According to the news - "Hackers are increasingly looking to compromise mobile devices as a way to gain access to classified government and military data," said Ken Peterman, President, Government Systems, Viasat. "By providing Viasat's MDD software, naval personnel now have the ability to provision and configure devices as a mission changes—which can help secure highly-sensitive mission information and defend against emerging cyber threats—even at sea."
Investor Ideas has created a directory of security stocks for investors following the sector. See the preview here.
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