Article posted: Jan 26, 2018
By Joakim Thorén, CEO
While you might not see a fully autonomous car coming out of Sweden yet, it's clear Sweden is leading the world in security, according to a ComputerSweden article. The article about the strongest technology trends in Sweden states the security market, according to analyst firm Redeye, is expected to grow by 7.8 percent per year through 2020. The report mentions a strong Versasec partner, Yubico, as a strong supplier side security company.
Redeye Technology Analyst Havan Hanna stated, "This (security market) is hotter than ever, not least because of the transition to the cloud where security becomes an important factor. But then we also have the increased network connection and new regulations that drive this." We agree that the European Union's General Data Protection Regulation (GDPR) is helping to fuel this growth, as European and global organizations are scrambling to upgrade security features to avoid fines, which will be enforced this May.
We started our company in and are headquartered in Stockholm and celebrated our tenth anniversary last year. When we started Versasec, we hand-picked our team based on their experience and involvement at other leading security companies. While Versasec is rapidly expanding and opening offices in the US, Asia-Pacific and EMEA regions, we're doing important development work on our identity and access management (IAM) suite of products. We recently updated our IAM flagship solution vSEC:CMS 5.0, which offers 25 new features aimed to better manage smart cards, tokens and virtual smart cards. This major update improved our Remote Security Device Management and User Self-Service.
We recognize the contributions Swedish companies are bringing to the security market and partner with some of the leading Swedish and trendsetting security companies including Yubico and Gemalto. We're proud of our Swedish heritage and continue to foster this heritage as we expand our footprint globally.