Skkynet Reports 8% Revenue Growth as Industrial Data Security Demand Surges
February 4th, 2025 1:30 PM
By: FisherVista
Industrial technology firm Skkynet achieves record revenue of $2.56 million in fiscal year 2024, highlighting growing market demand for secure industrial data solutions amid increasing cybersecurity concerns and AI adoption in manufacturing sectors.

Skkynet Cloud Systems, Inc. (OTCQB: SKKY) has announced record financial results for fiscal year 2024, with annual revenue reaching $2.56 million and net income of $99,090, marking an 8% increase from the previous year. The growth reflects escalating industry demand for secure industrial data communications solutions, particularly as manufacturing sectors navigate digital transformation and heightened cybersecurity requirements.
The company's performance gains significance against the backdrop of increasing cyber threats to industrial systems and the rapid integration of artificial intelligence in manufacturing processes. Skkynet's focus on secure remote access solutions addresses critical infrastructure protection needs while enabling AI-driven automation – a crucial combination for modern industrial operations.
Among the company's key 2024 achievements is the release of Cogent DataHub V11, featuring enhanced security capabilities. The company has also strengthened its intellectual property position with 13 U.S. patents covering secure remote access and data management technologies, positioning it strategically in the industrial automation market.
Industry analysts suggest that the growth in secure industrial data communications is likely to accelerate as manufacturers seek to protect their operations while leveraging the benefits of connected systems. Skkynet's ability to provide secure connectivity without exposing sensitive data to external networks addresses a critical challenge in industrial digital transformation.
The company's investment in AI-related projects, scheduled to roll out in 2025, could have significant implications for the industrial automation sector. As manufacturers increasingly adopt AI-driven processes, secure data communication becomes paramount for maintaining operational integrity and protecting intellectual property.
The industrial automation market's evolution toward more connected and intelligent systems presents both opportunities and challenges. Skkynet's focus on secure data communications positions it to address the growing need for protected data exchange in AI-enabled industrial environments. This capability becomes increasingly critical as manufacturing facilities seek to implement Industry 4.0 initiatives while maintaining robust cybersecurity protocols.
Market indicators suggest that the convergence of industrial automation, cybersecurity, and AI will continue to drive demand for secure data communication solutions. Skkynet's expanded sales team and strategic focus on these areas indicate preparation for anticipated market growth in these sectors.
Source Statement
This news article relied primarily on a press release disributed by NewMediaWire. You can read the source press release here,
