(MENAFN- Ameliorate Digital Consultancy)
cyber security market
The market for cyber security is expected to grow from its 2022 estimate of US$ 180,211.5 Million to US$ 423,780.0 Million by the end of 2033. The market for cyber security is expected to grow between 2023 and 2033 at a CAGR of 8.2%, reaching US$192,105.4 million in 2023.
Cybersecurity is the defence of internet-connected systems, including hardware, software, and data, against attack, deterioration, or unauthorised access. To secure sensitive data, networks, and devices against online threats like phishing, malware, and hacking, policies, technologies, and controls must be put in place. Information availability, confidentiality, and integrity are goals of cybersecurity, which tries to avoid, detect, and react to threats.
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The cybersecurity market refers to the industry of technologies, processes, and services designed to protect computer systems, networks, and data from unauthorized access, attacks, theft, and damage. The cybersecurity industry includes a wide range of products and services such as network security, endpoint security, application security, cloud security, and others.
The global cybersecurity market is expected to grow significantly in the coming years, driven by increasing demand for cybersecurity solutions across a range of industries, including financial services, healthcare, government, and education. Other factors contributing to the growth of the cybersecurity market include the increasing frequency and severity of cyber attacks, the growing adoption of cloud computing and the Internet of Things (IoT), and the need for compliance with data protection regulations.
The cybersecurity market is also expected to see growth in the healthcare sector, where cybersecurity technology can be used to protect electronic health records (EHRs) and other sensitive medical data. Additionally, the development of new cybersecurity technologies, such as artificial intelligence and machine learning-based security solutions, is expected to drive further growth in the market in the coming years.
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Competitive Landscape
As cyber threats continue to evolve and organizations become more aware of the risks they face, it is expected that demand for cybersecurity solutions will continue to grow and hence the technological advancements will also usher in this domain.
In February 2023, Radware had launched a new cloud security center to alleviate congestion latency while increasing service redundancy & mitigation capacity to assist consumers safeguard against denial-of-service threats, web app attacks, suspicious bot traffic as well as API attacks.
In January 2023, Korean Register (KR) had launched maritime cyber security officer e-learning training in collaboration with maritime tech firm SIRM Italia. The training will be conducted to Oltremare, a business affiliated with the Assarmatori National Shipping Association that offers training to its associates.
Key Players:
IBM Corporation
Microsoft Corp.
Sophos Ltd.
Trend Micro Incorporated
FireEye
Check Point Software Technologies
Rapid7
McAfee
Fortinet
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Expert analysis, actionable insights, and strategic recommendations – the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.
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