How To Navigate Tech Industry Turmoil: Invest in Cybersecurity
Information security and cybersecurity might just be the pillar of stability sex tech companies need to survive.
As part of our latest Future of Sex Expert Series, The VDOM’s founder references her information security background to predict how the sex tech industry will fare despite turbulence in the broader tech industry.
There has been an awakening in the sex tech industry
The sex tech industry has been growing rapidly in recent years, with the market size projected to reach $52 billion by 2026. However, like other industries, sex tech has also been impacted by the ongoing COVID-19 pandemic and the resulting economic turbulence. We had our share of headaches during the early months of the pandemic as well.
While it's difficult to predict the future of any industry, including sex tech, it's possible that it may face similar challenges as other tech companies, such as layoffs and difficulty securing funding. On the other hand, as we also saw during the pandemic, there was an increased demand for technology that enabled remote intimacy and pleasure during the times of social distancing.
This demand was an awakening for the sex tech industry and is why I don’t believe this industry would take a significant hit as much as other tech-focused industries. Ultimately, the success of the sex tech industry will depend on a variety of factors—including innovation, market demand, and access to funding and resources.
Information security and cybersecurity could be strategic investments for companies hoping to prosper
As with any technology-driven industry, information security and cybersecurity will be important considerations for sex tech companies.
Given the sensitive nature of the data that sex tech products collect, such as users' personal preferences and intimate behaviors, companies will need to prioritize data privacy and security. It will be crucial for sex tech companies to invest in robust cybersecurity measures and regularly audit their systems to ensure they remain secure.
Companies that prioritize information security and establish themselves as trusted brands in the industry may be better positioned to weather the broader turbulence of the tech industry.
Image source: Miguel Á. Padriñán