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Kingdom Fortified: KSA Cybersecurity Market Flourishes at 12.4% CAGR, Fueled by Digital Transformation and Growing Threats

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GURUGRAM, India, Feb. 27, 2024 /PRNewswire/ — The Kingdom of Saudi Arabia’s cybersecurity market is experiencing robust growth, driven by rapid digital transformation, increasing internet penetration, and the ever-evolving threat landscape. Ken Research’s comprehensive report, KSA Cybersecurity Market Outlook to 2028: Bolstering Digital Defenses in a Connected Kingdom, delves into this dynamic market, projecting a remarkable 12.4% CAGR over the next five years. This press release summarizes the key findings and offers valuable insights for cybersecurity solution providers, government agencies, and businesses seeking to navigate the evolving security landscape. 

Market Overview: 

Several key factors are propelling the KSA cybersecurity market towards a future of heightened vigilance and robust defenses: 

Digital Transformation: Vision 2030 and other government initiatives are driving the adoption of digital technologies across various sectors, creating a larger attack surface for cybercriminals. Rising Internet Penetration: Increasing internet and mobile phone usage are exposing individuals and businesses to online threats, necessitating robust cybersecurity solutions. Growing Cyber Threats: The Kingdom is witnessing a rise in sophisticated cyberattacks, including malware, ransomware, and phishing attempts, highlighting the need for advanced security measures. Government Focus: The Saudi Arabian government is prioritizing cybersecurity, establishing regulations and investing in national defense initiatives. 

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Segmentation Spotlight: 

Ken Research provides a detailed segmentation of the market, allowing you to tailor your solutions to specific needs: 

By Security Solution: Network security holds the largest share, followed by endpoint security, cloud security, and application security solutions. Emerging segments like identity and access management (IAM) are gaining traction. By Industry Vertical: Banking, financial services, and insurance (BFSI) is the leading sector, followed by government, healthcare, and critical infrastructure. By Deployment Model: The on premise deployment model remains prevalent, but cloud-based security solutions are witnessing significant growth due to their scalability and flexibility. By Service Type: Managed security services (MSS) are gaining traction as companies seek to outsource their security operations to specialized providers. 

Competitive Landscape: 

The KSA cybersecurity market features a mix of established international players and emerging local companies: 

Global Security Giants: Leading international cybersecurity vendors like Palo Alto Networks, Cisco, and Fortinet are present in the market, offering their advanced solutions. Local Players: Local companies like Saudi Arabian Information Security Company (SANS) and STC Solutions cater to the specific needs of the Kingdom and offer regional expertise. Specialized Service Providers: Niche players are emerging, offering specialized services such as security consulting, vulnerability assessments, and incident response services. 

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Recent Developments: 

Establishment of Cybersecurity Regulatory Framework: The National Cybersecurity Authority (NCA) is establishing a comprehensive cybersecurity framework to enhance national security posture. Focus on Public-Private Partnerships (PPPs): The government is encouraging collaboration between public and private entities to develop a robust cybersecurity ecosystem. Investment in Cybersecurity Awareness: Initiatives are underway to raise public awareness about cyber threats and promote safe online practices. 

Future Outlook: 

The KSA cybersecurity market is poised for exciting developments in the coming years: 

Adoption of Advanced Technologies: Emerging technologies like artificial intelligence (AI) and machine learning (ML) will be integrated into security solutions for enhanced threat detection and prevention. Focus on Data Security: With the growing importance of data privacy, compliance with regulations such as the Personal Data Protection Act (PDPA) will be crucial. Growing Demand for Managed Services: The demand for managed security services will continue to rise as companies seek to optimize their security operations and leverage expert support. Skill Development and Training: Addressing the cybersecurity workforce gap through skill development and training initiatives will be critical. 

Challenges to Address: 

Despite its promising future, the market faces some hurdles: 

Skilled Workforce Shortage: Attracting and retaining qualified cybersecurity professionals remains a challenge. Evolving Threat Landscape: Staying ahead of the ever-evolving threat landscape and adapting security strategies accordingly is crucial. Integration Challenges: Integrating diverse security solutions seamlessly and managing them effectively requires robust infrastructure and expertise. 

Why This Report Matters: 

This report empowers various stakeholders to navigate the KSA cybersecurity market: 

Cybersecurity solution providers: Gain insights into emerging trends, customer needs, and regulatory requirements to adjust their offerings and tailor solutions to the Kingdom’s specific needs. Government agencies: Develop effective cybersecurity policies, promote collaboration among stakeholders, and invest in building a robust national cybersecurity architecture. Businesses: Understand the evolving cybersecurity landscape, select appropriate security solutions, and implement best practices to protect their critical data and infrastructure, thereby building trust with their customers and partners.

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For More Insights On Market Intelligence, Refer To The Link Below: –

KSA Cybersecurity Market

Related Reports by Ken Research: –

Indonesia Cybersecurity Market Outlook to 2028 Driven by cybersecurity services, government policies and access to the newer avenues in the market

Indonesia Cybersecurity market set to grow at a 9.3% CAGR from 2023 to 2028. Growth driven by the rise of SMEs and institutions in Indonesia. Increased investment in Research and Development (R&D) for advanced cybersecurity solutions. Adoption of sustainable products gains prominence in response to environmental considerations. Entry of new domestic players stimulates competition and innovation.

US Security Testing Market Outlook to 2028 Segmented by Type of Security (Network and Application Security), Type of End-User Industry (Government, Financial and Healthcare) and region

The US Security Testing Market is growing every year with a successive change into their database and workflow, with an expected CAGR of ~18%, within the time period 2022 to 2028. Major changes in technologies have been seen throughout the security testing market, with more complex and stringent regulatory compliances leading to a much more secure mainframe, handling multiple scans on the software.

US Identity Verification Market Outlook to 2028 Segmented by Deployment type (On- Premise, On- Demand), End-User Industry (Financial services, Retails) and by Region

US Identity Verification market is expected to show increasing and is expected to grow at a CAGR of ~13% from 2022 to 2028 with Government initiatives for stricter and high-end algorithm development are expected to enhance the connectivity within the US. The rise in demand for identity verification solutions was projected to continuously grow as global digitalization and online transactions became more prevalent across all sorts of industries.

Global Smart Home Security Market Outlook to 2027 Segmented by Component, By Device Type, by Communication Module, By Geography

According to Ken Research estimates, the Global Smart Home Security Market is aided by the overall food service industry. Also, the Global Smart Home Security market is driven by rising number of burglaries, need for more secure and sound system by the home owners. Thus, along with the Global concern for house security, it is driving the demand for Global Smart Home Security market.

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Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
Ankur@kenresearch.com
+91-9015378249

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SOURCE Ken Research

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Huawei Austria Celebrates Five Years of TECH4ALL Nature Conservation at Biodiversity Forum

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VIENNA, Oct. 10, 2024 /PRNewswire/ — Huawei hosted the Innovations for Biodiversity Forum this week to commemorate the fifth anniversary of Huawei’s TECH4ALL digital inclusion initiative and share insights into how technology is revolutionizing biodiversity protection.  

Launched in 2019 and aligned with the UN Sustainable Development Goals, TECH4ALL leverages technology and partnerships to create a positive impact in four domains: environment, education, health, and development. In the environment domain, Huawei TECH4ALL has run nature conservation projects in 53 protected areas with global and local partners in forest, wetland, and ocean ecosystems around the world.

“Over the past five years, Huawei’s TECH4ALL program has demonstrated how technology can be a powerful force for good, addressing global challenges in environmental protection, education, and digital inclusion,” said Harvey Zhang, CEO of Huawei Austria.

The Innovations for Biodiversity Forum focused on TECH4ALL nature conservation projects in Europe, including findings of biodiversity monitoring in the wetland ecosystem around Austria’s Lake Neusiedl.

The quality of the reed bed habitats in this ecosystem is declining, negatively impacting amphibian species, mammals, and bird life. Since 2021, audio monitoring devices have collected more than 2 million individual audio files of 69 bird species.

This vast dataset will help develop a conservation management plan for the ecosystem, including controlled fire management to rejuvenate aging reed beds and strengthen overall biodiversity by understanding the habitat preferences of the individual species studied.

“Hardly any reed harvesting has been done in recent decades, which has had a negative impact on the state of the reed belt. The study investigated whether targeted fires could have an effect similar to that of harvesting. To do this, areas that show different age conditions due to fires were compared,” said Dr. Christian Schulze from the Department of Biodiversity Research at the University of Vienna. “The research showed that older reed beds harbor the greatest diversity of bird species. However, the analysis of individual species also shows that controlled reed fires have positive aspects.”

The forum explored a similar TECH4ALL monitoring project in Poland to build a more complete picture of biodiversity in the Białowieża National Park ecosystem, also with the aim of developing targeted conservation measures.

Greek startup PROBOTEK introduced a forest fire-prevention solution that uses sensors, drones, AI, and 5G to detect and transmit real-time video-footage of fire risks, which are on the rise in parts of Europe due to climate change and rising temperatures. The project is designed to enable emergency response in the first ‘golden 15 minutes’ of a forest fire being detected, notify residents of evacuation routes, and plan routes for fire trucks and ambulances.

The forum also looked at the success of an AI-based filtering system designed to protect Norway’s wild Atlantic salmon from possible extinction due to the invasive pink salmon species. The pilot project in 2023 successfully filtered out 6,000 invasive salmon, and expectations are high that the solution, the world’s first of its type, can be scaled out across Norway’s river systems.

On day two of the forum, the media delegation in attendance visited Lake Neusiedl to learn how the TECH4ALL solution works in practice and the transformative effect that intelligent digital technologies can have on nature conservation.

About Huawei TECH4ALL

TECH4ALL is Huawei’s long-term digital inclusion initiative. Enabled by innovative technologies and partnerships, TECH4ALL aims to promote inclusion and sustainability in the digital world.

For more information, visit the Huawei TECH4ALL website: https://www.huawei.com/en/tech4all 

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SOURCE Huawei

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Astellas to Present VEOZA™ (fezolinetant) Data at IMS World Congress on Menopause

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TOKYO, Oct. 10, 2024 /PRNewswire/ — Astellas Pharma Inc. (TSE: 4503, President and CEO: Naoki Okamura, “Astellas”) announced that VEOZA™ (fezolinetant)*, its first-in-class treatment for moderate to severe vasomotor symptoms (VMS) associated with menopause, will be featured in four oral and two poster presentations during the International Menopause Society (IMS) 19th World Congress on Menopause in Melbourne, Australia, October 19-22. VMS, also known as hot flashes and/or night sweats, are common symptoms of menopause.1,2  

Marci English, Vice President, Head of BioPharma Development, Astellas

“Astellas is committed to advancing innovative science, and the data at the World Congress on Menopause further our understanding of how VMS impacts individuals and women’s preferences for treatment. In addition, we are excited to share trial design for our recently initiated HIGHLIGHT study assessing fezolinetant for the treatment of moderate to severe VMS in patients with breast cancer taking adjuvant endocrine therapy.”

Emad Siddiqui, M.D., Vice President, Head of Specialty Therapeutic Area for Medical Affairs, Astellas

“We are dedicated to continuing to expand the knowledge about fezolinetant beyond the pivotal trials. Our presentations at the World Congress on Menopause encompass a broad range of clinical and health-related quality of life analyses that further highlight the safety and efficacy of fezolinetant, as well as its positive impact on patient-reported outcomes including sleep and productivity at work.”

Fezolinetant data will be featured in four oral and two poster presentations:

Two oral presentations from the SKYLIGHT 1 and 2 studies focus on patient-reported sleep outcomes and impact on work productivity with fezolinetant (Menopause New Treatments 1 and 2; Monday, Oct. 21, 3:50-5:20 p.m.; A. Cano and R. Nappi, respectively).Two oral presentations from the DAYLIGHT study highlight response and quality of life in women treated with fezolinetant who are unsuitable for hormone therapy (Menopause New Treatments 1; Monday, Oct. 21, 3:50-5:20 p.m.; A. Hirschberg and M. Shapiro, respectively).Poster highlights analyses of clinical and nonclinical data demonstrating no association between fezolinetant treatment and incidence of malignant neoplasm (P073; Sunday, Oct. 20, 7:40-9 p.m.; M. Shapiro).Poster reviews study design for the recently initiated HIGHLIGHT 1 phase 3 clinical study designed to evaluate the efficacy and safety of fezolinetant for the treatment of moderate to severe VMS in women with stage 0 to 3 hormone receptor-positive breast cancer receiving adjuvant endocrine therapy (P055; Sunday, Oct. 20, 7:40-9 p.m.; P. Briggs).

Two additional oral presentations highlight Australian women’s preferences for treatment of VMS associated with menopause and results of a literature review designed to identify and characterize concepts relevant to individuals’ experiences of VMS with a goal of informing the development of a culturally sensitive self-assessment tool for VMS.

*VEOZA: Approved as “VEOZAH™” in U.S.

About the BRIGHT SKY™ Phase 3 Program

The BRIGHT SKY pivotal trials, SKYLIGHT 1™ (NCT04003155) and SKYLIGHT 2™ (NCT04003142), enrolled over 1,000 menopausal women with moderate to severe VMS. The trials are double-blinded, placebo-controlled for the first 12 weeks followed by a 40-week treatment extension period. Women were enrolled at over 180 sites within the U.S., Canada and Europe. SKYLIGHT 4™ (NCT04003389) is a 52-week double-blinded, placebo-controlled study designed to investigate the long-term safety of fezolinetant. For SKYLIGHT 4, over 1,800 menopausal women with VMS were enrolled at over 180 sites within the U.S., Canada and Europe.

About DAYLIGHT

DAYLIGHT (NCT05033886) is a Phase 3b, randomized, double-blind, placebo-controlled, 24-week study to assess the efficacy and safety of fezolinetant in menopausal women aged 40-65 suffering from moderate to severe VMS and considered unsuitable for hormone therapy. A total of 453 women were enrolled at 69 sites in Canada, Europe and Turkey.

About HIGHLIGHT 1™

HIGHLIGHT 1 (NCT06440967) is a randomized, placebo-controlled, double-blind, Phase 3 clinical study to assess the efficacy and safety of fezolinetant for the treatment of moderate to severe VMS in women with stage 0 to 3 hormone receptor-positive breast cancer who are receiving adjuvant endocrine therapy. Approximately 540 participants are planned to be randomized 1:1 to fezolinetant or placebo at up to 100 sites in Europe and Canada. The four coprimary endpoints are change in the frequency and severity of moderate to severe VMS from baseline to weeks 4 and 12. Patients will be treated for 52 weeks with a final evaluation at 55 weeks.

About VEOZA™ (fezolinetant)

VEOZA (fezolinetant) is a nonhormonal neurokinin 3 (NK3) receptor antagonist indicated in Australia for the treatment of moderate to severe vasomotor symptoms (hot flashes and night sweats) associated with menopause. VEOZA works by blocking neurokinin B (NKB) binding on the kisspeptin/neurokinin/dynorphin (KNDy) neuron to modulate neuronal activity in the brain’s temperature control center (the hypothalamus) to reduce the number and intensity of hot flashes and night sweats.3,4,5 

Important Safety Information

The full Australian Product Information and Australian Public Assessment Report (AusPAR) for fezolinetant is available from the Australian Government Therapeutic Goods Administration. 

About Astellas

Astellas Pharma Inc. is a pharmaceutical company conducting business in more than 70 countries around the world. We are promoting the Focus Area Approach that is designed to identify opportunities for the continuous creation of new drugs to address diseases with high unmet medical needs by focusing on Biology and Modality. Furthermore, we are also looking beyond our foundational Rx focus to create Rx+® healthcare solutions that combine our expertise and knowledge with cutting-edge technology in different fields of external partners. Through these efforts, Astellas stands on the forefront of healthcare change to turn innovative science into VALUE for patients. For more information, please visit our website at https://www.astellas.com/en.

Cautionary Notes

In this press release, statements made with respect to current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Astellas. These statements are based on management’s current assumptions and beliefs in light of the information currently available to it and involve known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those discussed in the forward-looking statements. Such factors include, but are not limited to: (i) changes in general economic conditions and in laws and regulations, relating to pharmaceutical markets, (ii) currency exchange rate fluctuations, (iii) delays in new product launches, (iv) the inability of Astellas to market existing and new products effectively, (v) the inability of Astellas to continue to effectively research and develop products accepted by customers in highly competitive markets, and (vi) infringements of Astellas’ intellectual property rights by third parties. Information about pharmaceutical products (including products currently in development) which is included in this press release is not intended to constitute an advertisement or medical advice.

References

1 Utian WH. Psychosocial and socioeconomic burden of vasomotor symptoms in menopause: a comprehensive review. Health Qual Life Outcomes. 2005;3:47.

2 Jones RE, Lopez KH, eds. Human Reproductive Biology. 4th ed. Waltham, MA: Elsevier, 2014:120.

3 Depypere H, Timmerman D, Donders G, et al. Treatment of menopausal vasomotor symptoms with fezolinetant, a neurokinin 3 receptor antagonist: a phase 2a trial. J Clin Endocrinol Metab. 2019;104:5893-5905. 

4 Fraser GL, Lederman S, Waldbaum A, et al. A phase 2b, randomized, placebo-controlled, double-blind, dose-ranging study of the neurokinin 3 receptor antagonist fezolinetant for vasomotor symptoms associated with menopause. Menopause. 2020;27:382-392. 

5 Fraser GL, Hoveyda HR, Clarke IJ, et al. The NK3 receptor antagonist ESN364 interrupts pulsatile LH secretion and moderate levels of ovarian hormones throughout the menstrual cycle. Endocrinology. 2015;156:4214-4225.

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SOURCE Astellas Pharma Inc.

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MPP&E Capital selects Edgefolio to power hedge fund investor portal

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The firm will leverage Edgefolio to launch its systematic quantitative strategy hedge fund.

LONDON, Oct. 10, 2024 /PRNewswire/ — Edgefolio Group (“Edgefolio”) today announced that MPP&E Capital (“MPP&E”), a London-based hedge fund, is now live on Edgefolio’s all-in-one investor relations platform for hedge funds. The firm will benefit from a dedicated hedge fund investor portal, with transparent performance reporting, comprehensive communication tools, CRM, and virtual data room – all within a single platform.

MPP&E Capital specialises in the development and implementation of systematic trading strategies and derives alpha from multiple asset classes, with an investment philosophy rooted in disciplined research and rigorous analysis. The team is led by professionals with experience in quantitative hedge funds, private equity, and academic research. 

“We want to focus this unique team on driving alpha generation, but like many new hedge fund launches, we found ourselves grappling with a large number of vendors needed to get up and running, and wanted to ensure an institutional standard of operations from day one,” said Marton Peter Price, Co-founder and Fund Manager of MPP&E Capital. “With Edgefolio, we have been able to tick many key boxes with a single solution, allowing us to communicate with investors in a modern, efficient, and transparent way to the highest standard for both us and our investors, with holistic engagement analytics. We are starting out with a robust investor relations operation which sets us up to succeed in scaling over the next 12+ months”.

MPP&E is expected to launch with SMA allocations in Q4 2024 and for comingled fund investors in Q1 2025. Edgefolio is SaaS technology, and MPP&E was live in under a month.

“Edgefolio supports a wide range of hedge funds, from large established firms to those that are pre-launch and looking to support early-stage fundraising”, said Rowen Pillay, CEO and Co-founder, Edgefolio. “MPP&E is now using the same technology used by some of the world’s largest cap intro teams, even before they launch. From an operational perspective, this positions them to deliver an excellent investor experience from the outset, to raise and retain capital efficiently, and to scale rapidly as they achieve their goals”.

About MPP&E Capital

MPP&E Capital is a multi-strategy systematic quantitative hedge fund based in London, UK, specialising in the development and implementation of proprietary trading strategies. They derive alpha from various asset classes with a focus on volatility strategies, US equities, US equity derivatives and quantitative macro. Their investment philosophy is rooted in disciplined research and rigorous analysis. MPP&E Capital offers investment management services of assets on behalf of institutional and high net worth professional investors.

About Edgefolio

Edgefolio delivers market leading SaaS technology for hedge funds, investment banks, prime brokerages, and third-party marketers.

Hedge funds use Edgefolio to digitise their fund marketing and investor relations through the investor portal, CRM, email campaigns, and data room with digital analytics and reporting.

Banks and third-party marketers use Edgefolio to digitise their capital introductions and fund marketing operations, providing investor access to a fund repository with digital introduction requests, as well as CRM, content distribution and email marketing.

Contact details

MPP&E Capital
Rebeka Gaal
Investor Relations and Business Development Lead
rgaal@mppecapital.com

Edgefolio:
Hannah Smith
Head of Marketing
hannah.smith@edgefolio.com
07803 696380

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