Actelis Announces Strategic Partnership to Launch AI-Powered Cybersecurity SaaS for IoT Networks

Rhea-AI Summary

Actelis Networks (NASDAQ: ASNS) has announced a strategic partnership to develop an AI-powered cybersecurity SaaS for IoT networks. This new offering, part of Actelis' 'Cyber Aware Networking' initiative, will be integrated into their existing networking devices to monitor and protect IoT assets at the network edge. The solution aims to enhance security, efficiency, and operational continuity for critical infrastructure applications like government networks, utilities, and transportation systems.

Key features of the new offering include:

• AI-driven threat detection and mitigation
• Comprehensive visibility and monitoring capabilities
• Scalability for large networks
• Integration with Actelis' DoD-certified networking solutions

This move is expected to expand Actelis' market presence in the IoT sector and increase recurring software revenues. The global IoT security market is projected to reach $306 billion by 2032, highlighting the significant opportunity for Actelis in this growing field.

Positive

• Strategic partnership to develop AI-powered cybersecurity SaaS for IoT networks
• Integration of new software into existing Actelis devices, enhancing current product offerings
• Potential for increased recurring software revenues from both existing and new deployments
• Expansion into the growing IoT security market, projected to reach $306 billion by 2032
• Strengthening of Actelis' position in critical infrastructure sectors like government, energy, and transportation

Negative

• None.

Tech Expert

Actelis' new AI-powered SaaS for IoT cybersecurity is a strategic move in the rapidly growing IoT security market. By integrating this software into their existing networking devices, Actelis is addressing a critical vulnerability in IoT networks - the edge devices. This approach could give them a competitive advantage in sectors like government, energy and transportation.

The 'Cyber Aware Networking' architecture's ability to enable immediate, actionable responses before issues escalate is particularly noteworthy. This proactive approach to cybersecurity could significantly reduce response times and potential damage from cyber attacks, making it an attractive solution for organizations with critical infrastructure.

However, the success of this offering will depend on its effectiveness in real-world scenarios and Actelis' ability to differentiate it from other IoT security solutions in the market. The projected $306 billion market size by 2032 suggests substantial growth potential, but also indicates intense competition in this space.

Financial Analyst

This partnership represents a positive strategic shift for Actelis, potentially opening up new revenue streams. The move towards recurring software revenues is particularly promising, as it could lead to more stable and predictable income over time. This is typically viewed favorably by investors, as it can enhance the company's financial stability and valuation.

The IoT security market's projected growth to $306 billion by 2032 presents a significant opportunity for Actelis. However, investors should consider that capturing market share in this competitive landscape will require substantial investment in R&D and marketing. The company's ability to execute this strategy effectively and achieve meaningful market penetration will be important for realizing the potential financial benefits.

While the news is promising, it's important to note that the financial impact may not be immediate. Investors should monitor key metrics such as customer adoption rates, recurring revenue growth and margins in future financial reports to gauge the success of this initiative.

Cybersecurity Expert

Actelis' 'Cyber Aware Networking' initiative addresses a critical gap in IoT security. The focus on protecting edge devices is crucial, as these are often the most vulnerable points in an IoT network. The use of AI and machine learning for threat detection and mitigation is in line with industry best practices and could provide a robust defense against evolving cyber threats.

The integration of this security layer directly into networking devices is a smart approach, potentially reducing latency and improving response times to threats. This could be particularly valuable in critical infrastructure applications where rapid threat response is essential. The ability to take corrective actions before issues propagate throughout the network is a significant advantage over traditional, centralized security solutions.

However, the effectiveness of this solution will depend on the quality of the AI algorithms and the ability to continuously update and adapt to new threats. Actelis will need to demonstrate ongoing commitment to refining and improving this technology to maintain its effectiveness in the face of evolving cybersecurity challenges.

New collaboration strengthens Actelis' cybersecurity offerings with an AI-powered SaaS layer for protecting IoT devices at the network edge as part of its ‘Cyber Aware Networking’ architecture, adding recurring software revenues from both existing and new deployments.

FREMONT, Calif., Aug. 19, 2024 (GLOBE NEWSWIRE) -- Actelis Networks, Inc. (NASDAQ: ASNS) (“Actelis” or the “Company”), a market leader in cyber-hardened, rapid deployment networking solutions for IoT applications, today announced a strategic partnership with an advanced cybersecurity provider to develop and deliver a novel, AI-Powered SaaS offering, under Actelis’ ‘Cyber Aware Networking’ initiative. This software, designed as an intelligence layer integrated into Actelis’ networking devices, leverages the network’s power and proximity to IoT devices to monitor and protect physical assets such as cameras, sensors, and other devices at the edge, enabling corrective actions before issues propagate throughout the network.

Actelis’ ‘Cyber Aware Networking’ enhances the security, efficiency, and operational continuity of IoT networks by providing enterprise-grade AI Asset Intelligence & Threat Management capabilities delivered directly through the network. Actelis will launch this patented AI-powered cybersecurity software into its already robust, DoD-certified networking solutions, which will enhance Actelis' offer of comprehensive, secure, and scalable IoT connectivity solutions, particularly for critical infrastructure applications such as local and federal government networks, utility providers, intelligent transportation, and airports.

“With tens of thousands of Actelis devices deployed worldwide in critical IoT networks, data security is paramount,” said Tuvia Barlev, Chairman and CEO of Actelis. “By adding an additional layer of protection to our customers’ operational environments, we’re offering a powerful platform that not only detects and reports cyber-attacks and operational faults but also enables immediate, actionable responses by the communication network before these issues escalate. This move extends our focus beyond hardening network security to include the cybersecurity of devices at the most vulnerable points—the edge of the network.”

The increasing volume of cyber-attacks on IoT devices highlights the need for enhanced security measures. According to a study by the Ponemon Institute, 63% of organizations expect the volume of IoT attacks to increase significantly. Actelis' new solution addresses these challenges by providing comprehensive visibility, monitoring, and threat detection capabilities for IoT networks.

Leveraging AI and machine learning at its core, the ‘Cyber Aware Networking’ architecture offers advanced threat detection and mitigation that is easy to deploy, quick to adapt, and scalable to large networks. This collaboration aligns with Actelis’ strategic focus on expanding its market presence in the IoT sector and demonstrates the company’s commitment to addressing the evolving cybersecurity needs of its clients through its vision of ‘Cyber Aware Networking’ and increasing its recurring software revenues. As the IoT market continues to grow, the demand for secure and resilient networking solutions becomes increasingly critical. Actelis’ integrated solution is well-positioned to meet this need, providing enhanced protection and reliability for IoT networks.

The global IoT security market is projected to reach $306 billion by 2032¹, driven by the increasing adoption of IoT devices and the growing number of cyber-attacks. Actelis is focusing on industries most affected by these threats, such as government, energy, and transportation sectors, paving the way for the success of this new offering. IoT edge devices are currently lagging in protection compared to IT networks, creating a significant opportunity for Actelis.

About Actelis Networks, Inc.

Actelis Networks, Inc. (NASDAQ: ASNS) is a market leader in cyber-hardened, rapid-deployment networking solutions for wide-area IoT applications including federal, state and local government, ITS, military, utility, rail, telecom and campus applications. Actelis’ unique portfolio of hybrid fiber-copper, environmentally hardened aggregation switches, high density Ethernet devices, advanced management software and cyber-protection capabilities, unlocks the hidden value of essential networks, delivering safer connectivity for rapid, cost-effective deployment. For more information, please visit www.actelis.com.

Forward-looking Statements

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results to differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Media Contact:
Sean Renn
Global VP Marketing & Communications
srenn@actelis.com

Investor Contact:
ARX | Capital Markets Advisors
North American Equities Desk
actelis@arxadvisory.com

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¹ Based on a report by Acumen Research and Consulting: https://www.acumenresearchandconsulting.com/iot-security-market

FAQ

What is the new AI-powered cybersecurity SaaS announced by Actelis Networks (ASNS)?

Actelis Networks (ASNS) has announced a strategic partnership to develop an AI-powered cybersecurity SaaS for IoT networks. This software will be integrated into Actelis' networking devices to monitor and protect IoT assets at the network edge, enhancing security, efficiency, and operational continuity for critical infrastructure applications.

How will the new cybersecurity offering impact Actelis Networks' (ASNS) revenue?

The new AI-powered cybersecurity SaaS is expected to add recurring software revenues for Actelis Networks (ASNS) from both existing and new deployments. This move aligns with the company's strategic focus on expanding its market presence in the IoT sector and increasing its recurring software revenues.

What is the projected size of the IoT security market that Actelis Networks (ASNS) is targeting?

According to the press release, the global IoT security market that Actelis Networks (ASNS) is targeting is projected to reach $306 billion by 2032. This growth is driven by the increasing adoption of IoT devices and the growing number of cyber-attacks.

Which sectors is Actelis Networks (ASNS) focusing on with its new cybersecurity offering?

Actelis Networks (ASNS) is focusing on industries most affected by IoT security threats, such as government, energy, and transportation sectors. The company's integrated solution aims to provide enhanced protection and reliability for IoT networks in these critical infrastructure applications.