POINT ROBERTS, Wash., Oct. 04, 2018 (GLOBE NEWSWIRE) — Investorideas.com, a leading investor news resource covering defense and security stocks releases a sector snapshot following the October 1 launch of National Cybersecurity Awareness Month.
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.
From 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.”
One of the hottest, fastest growing sectors, cannabis, is also driving demand for both surveillance and cybersecurity technology. DirectView Holdings, Inc. (OTC:DIRV), is targeting the sector in addition to conventional markets for their surveillance technology.
According to an article, The State of Cannabis, “As of 2017, the estimated number of cannabis-related businesses in the United States totaled 7,800 to 11,000. When added to the number of ancillary services, technology, and product companies, the industry total was between 15,000 and 23,500. New business owners from outside states are joining the ranks. This increase is driving a trend toward intelligent enterprise surveillance systems that provide the capacity, scalability, and remote monitoring capability needed to operate large growing and production facilities. Getting the most from these systems requires a robust storage solution that scales as you grow.”
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.
In related technology news, 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 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.”
Recent research shows, “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 1 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.
National Cybersecurity Awareness Month is designed to engage and educate public and private sector partners through events and initiatives with the goal of raising awareness about cybersecurity in order to increase the resiliency of the nation in the event of a cyber incident. Since the Presidential proclamation establishing NCSAM in 2004, the initiative has been formally recognized by Congress, federal, state and local governments and leaders from industry and academia. This united effort is necessary to maintain a cyberspace that is safer and more resilient and remains a source of tremendous opportunity and growth for years to come.
European Cybersecurity Month (ECSM) also kicked off yesterday with its sixth annual campaign.
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).
FireEye, Inc. (NASDAQ:FEYE) just announced “a new milestone release of FireEye(R) Helix(TM). With the new release, FireEye Helix moves toward automating security operations by combining integrated security information and event management (SIEM) capabilities with advanced security orchestration. Delivered via the cloud, FireEye Helix offers customers one central platform to detect threats, automate response, and simplify compliance reporting.”
From the news; “Legacy SIEM tools have lost focus on detection and response. FireEye Helix brings true security back to SIEM,” said Paul Nguyen, VP of product strategy and product management at FireEye. “We’re on the frontlines of the cyberwar and to keep pace with the adversaries, we have to automate as much as possible and give analysts the intel to make smarter decisions at key points in the response. These insights and capabilities are built into Helix to close the gap from detection to resolution and mitigate the impact of an attack.”
In other cybersecurity news, Viasat Inc. announced that it has made new security capabilities available for U.S. and international Five Eyes 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.”
For investors wanting more exposure in the cybersecurity sector, the ETFMG Prime Cyber Security ETF -HACK tracks a tiered, equal-weighted index that targets companies actively involved in providing cyber security technology and services. HACK is the first ETF on the market that focuses on cybersecurity.
Its top holdings include CISCO SYS INC, TENABLE HLDGS INC, SAILPOINT TECHNOLGIES HLDGS INC, SOPHOS GROUP PLC, FORTINET INC (NASDAQ:FTNT), SAIC, JUNIPER NETWORKS, SPLUNK INC, SYMANTEC and FIREEYE INC. (NASDAQ:FEYE).
Additionally Investor Ideas has created a directory of security stocks for investors following the sector. See the preview here.
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