SAP to Fortify IoT Security with Multiple Partnership Deals

Enterprise application software provider SAP SE (SAP - Analyst Report) has announced multiple partnerships with premium Internet of Things (IoT) security companies for developing state-of-the-art end-to-end security solutions. Powered by the SAP HANA Cloud platform, these high-end security solutions are expected to witness rapid traction with rising demand from business enterprises.
According to market reports, the IoT market is experiencing steady growth momentum with an expected CAGR of 31.7% during 2014–2019. A surge in the use of smart applications including navigation devices, media players and imaging devices continue to fuel demand for improved IoT infrastructure. As a result, billions of devices will be connected to cloud as part of IoT solutions, thereby creating a momentous market demand for advanced hardware- and software-enforced data privacy and security solutions.