Forescout Technologies is going through a steep growth in the IoT sector
Forescout Technologies is becoming an emerging provider of control and visibility solutions. There are numerous devices which corporates on distinctive networks these days. On the other hand, significant organizations also face significant attack vectors.
The company delivers exposure to the growth opportunities comprising the Internet of Things as well as Operational Technology. Furthermore, the company is aiding significant enterprise customers repeatedly to manage, classify and discover distinctive devices on a network. Due to the degree of proliferation of the device, Forescout is turning into a complete strategic asset of security.
There are significant organizations around the world that do not possess an overall view of several devices that needs securing. Given that these organizations are massive, they have no idea whether their devices connected to the network are unsecured and undetected. As of now, Forescout has over 66 million devices under management.
Back in October 2017, Forescout went public with only $22 per share. Throughout one and a half years, the stocks reached a record high of $46.43, precisely in March 2019. However, in June 2019, the price of shares reached $30. During the IPO prospectus, the company expected that the total TAM would be around 8.6 billion dollars.
Sources suggest that the company went to TAM after it applied for ASP per device. According to Gartner, the global security market revolving around IoT in the year 2021 would be around $3.1 billion. The present-day the Internet of Things security market is said to be $1.9 billion. Forescout provides services to approximately 3,300 customers in terms of different verticals.
In the previous year, Forescout incorporated over 500 new logos alongside the global customer base of 60+. Currently, there are more than 13 million devices that need managing. Forescout is also gaining traction in terms of healthcare and manufacturing sectors.
**This post was published on https://www.forbes.com
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