Connect with us

Technology

Internet Security Market to Grow by USD 18.63 Billion from 2024-2028, Boosted by BYOD Adoption and AI-Redefining the Market Landscape – Technavio

Published

5 hours ago

on

NEW YORK, Oct. 17, 2024 /PRNewswire/ — Report with market evolution powered by AI – The Global Internet Security Market size is estimated to grow by USD 18.63 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 8.53% during the forecast period. Rapid adoption of bring your own device (BYOD) policy is driving market growth, with a trend towards growing popularity of managed security service providers (MSSP). However, cost of deployment of internet security system poses a challenge – Key market players include AO Kaspersky Lab, Cisco Systems Inc., Dell Technologies Inc., Fortinet Inc., HCL Technologies Ltd., Hewlett Packard Enterprise Co, Infineon Technologies AG, Intel Corp., International Business Machines Corp., Microsoft Corp., NortonLifeLock Inc., Nippon Telegraph And Telephone Corp., Palo Alto Networks Inc., Penta Security Systems Inc., SecureLink Inc., Sophos Ltd., Tata Consultancy Services Ltd., Thales Group, Trend Micro Inc., and Wipro Ltd.

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Solution (Products and Services) and Geography (North America, APAC, Europe, South America, and Middle East and Africa)

Region Covered

North America, APAC, Europe, South America, and Middle East and Africa

Key companies profiled

AO Kaspersky Lab, Cisco Systems Inc., Dell Technologies Inc., Fortinet Inc., HCL Technologies Ltd., Hewlett Packard Enterprise Co, Infineon Technologies AG, Intel Corp., International Business Machines Corp., Microsoft Corp., NortonLifeLock Inc., Nippon Telegraph And Telephone Corp., Palo Alto Networks Inc., Penta Security Systems Inc., SecureLink Inc., Sophos Ltd., Tata Consultancy Services Ltd., Thales Group, Trend Micro Inc., and Wipro Ltd.

Key Market Trends Fueling Growth

Managed Security Services (MSS) are an essential component of network security solutions, outsourced to third-party providers. These services include managed firewall, virtual private network, intrusion detection, managed antivirus, and compliance services. In 2023, the market for MSSPs experienced significant growth as organizations sought to alleviate the pressures of information security in their day-to-day business operations. MSSPs offer simple security solutions, such as security event monitoring and content security, but there is also a growing demand for more complex services like vulnerability management and policy or compliance-related solutions. Clients expect MSSPs to be more than just service providers; they want collaborative partnerships. MSSPs should work closely with businesses, discussing long-term goals and advising on security needs. While business computer services once prioritized maintaining a professional distance from providers, today’s companies value close relationships with MSSPs to maximize benefits. Global businesses are turning to MSSPs to manage complexities in network and IT system security and adapt to a widening business landscape. MSSPs operate services for in-house functionalities, enabling clients to focus on core competencies rather than maintenance, optimization, and support services. Symantec is one of the service providers delivering managed security services to businesses of all sizes. These factors contribute to the growth of the global internet security market during the forecast period. 

The Internet security market is thriving due to increasing threats such as ransomware attacks and social engineering. IoT vulnerabilities, cloud security, and critical infrastructure protection are major concerns. Cybersecurity certifications like Certified Ethical Hacking are in demand. Security solutions include antivirus, antimalware, intrusion detection, and firewalls. Log management, event management, encryption, and tokenization are essential for data protection. Compliance management and patch management are crucial for regulatory requirements. New trends include 5G security, blockchain security, DevSecOps, and cybersecurity in industries like aerospace, retail and ecommerce, energy and utilities, telecommunication, transportation and logistics, media and entertainment, and more. Smart devices, interconnected appliances, wearables, and electric vehicles also require security. The cybersecurity industry continues to grow, offering opportunities for innovative solutions. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

The cost of implementing a internet security system involves expenses for product licensing and customization based on the end-user’s specific needs. Training employees on best practices and ethical compliance is essential to prevent potential security incidents. Automated security solutions that quickly identify anomalies are crucial due to hackers bypassing traditional security features. Cybersecurity insurance policies are gaining popularity to minimize losses from breaches. However, the total installation cost includes software licensing, system design, implementation, training, and maintenance. Hiring IT staff for implementation and ongoing administration adds to the expenses. Additional costs include the development of staff knowledge and skills to effectively use the solution. These factors may impede market growth during the forecast period.In today’s digital world, businesses face numerous challenges in ensuring internet security, particularly in areas like cloud application security and protecting sensitive information in large enterprises. Cyber threats are constantly evolving, putting customer healthcare records, digital transactions, and digital systems at risk. Security gaps can lead to costly cyberattacks through hacking, phishing, and malware. Advanced network security solutions and digital privacy systems are essential for threat protection. Specialized expertise in data protection is crucial for businesses dealing with regulatory compliance standards and data protection laws. Digital technologies, such as artificial intelligence, are increasingly important for advanced security solutions. Remote work and managed security services have become essential for SMEs, providing advanced security infrastructure, incident response, and threat detection. Managed services offer skilled professionals and automation for application security and zero trust implementation. Cloud security services and managed services provide advanced security solutions for cloud-based applications and infrastructure. Cybersecurity professionals must stay updated on the latest cybercrime trends, including cyber espionage and cyberattacks, to implement effective cybersecurity models and ensure regulatory compliance. Zero trust security, single sign-on, and multi-factor authentication are essential components of cybersecurity strategy.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This internet security market report extensively covers market segmentation by

Solution 1.1 Products1.2 ServicesGeography 2.1 North America2.2 APAC2.3 Europe2.4 South America2.5 Middle East and Africa

1.1 Products- The Internet Security market is projected to experience growth due to the rising sales of hardware security components. The YoY growth rate of hardware security components, including firewalls and intrusion detection and prevention (IDP), is anticipated to accelerate as a result of the widespread adoption of integrated security solutions for safeguarding network infrastructures. The healthcare and automotive sectors are expected to drive the demand for security software due to their increasing use of Internet of Things (IoT) applications. In the healthcare sector, smart devices such as blood pressure monitors, blood glucose monitors, and mobile electrocardiograms (ECGs) are being used extensively, necessitating security measures to protect patient data. The growing awareness of cybersecurity threats in the healthcare sector, particularly in the context of the COVID-19 pandemic, is expected to fuel the adoption of IoT security solutions. The pandemic has led to remote working and social distancing, making organizations and individuals more vulnerable to cyber attacks. Cybercriminals have exploited this situation by launching phishing attacks, malicious spams, and ransomware attacks, highlighting the need for internet security solutions. Consequently, the demand for internet security products is expected to remain high during the forecast period.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The Internet security market is a critical segment of the digital technologies industry, focusing on protecting businesses and individuals from various digital threats. With the increasing reliance on e-commerce platforms and digital transactions, cybersecurity has become a top priority. Digital attacks, including data breaches, hacking, phishing, malware, and cyberattacks, pose significant risks to enterprise security solutions in various sectors such as healthcare, finance, and critical infrastructure. Network security solutions, including machine learning and artificial intelligence, play a crucial role in detecting and mitigating threats. The Internet of Things (IoT) and cloud technologies have introduced new vulnerabilities, necessitating advanced security solutions. Data protection is a major concern, with certifications like Certified Ethical Hacking and security information management providing valuable expertise. Antivirus and antimalware software, intrusion detection, and security information systems are essential components of any internet security strategy.

Market Research Overview

The Internet Security market is a critical segment of the cybersecurity industry, focusing on protecting digital systems, networks, and data from various cyber threats. With the increasing reliance on e-commerce platforms and digital transactions, the market for Internet Security solutions has gained significant importance. Digital attacks, such as data breaches and cybercrime, pose a significant risk to large enterprises, healthcare organizations, and even Small and Medium-sized Enterprises (SMEs). Network security solutions, including advanced network security, endpoint security, cloud application security, and zero trust architecture, are essential components of Internet Security. Machine learning and Artificial Intelligence are being increasingly adopted to enhance threat detection and protection capabilities. The Internet of Things (IoT) and cloud technologies present new challenges, requiring specialized expertise and advanced security solutions. Data protection is a primary concern, with regulations such as GDPR and HIPAA mandating strict compliance. Remote work and digital privacy systems are also becoming critical areas of focus. Threats like hacking, phishing, malware, ransomware attacks, social engineering, and IoT vulnerabilities require continuous monitoring and advanced security solutions. Cybersecurity professionals, certified ethical hacking, and managed security services play a crucial role in implementing and managing effective Internet Security projects. Regulatory compliance standards and data protection laws continue to evolve, making it essential for organizations to stay informed and up-to-date with the latest security infrastructure and cybersecurity certifications. Cloud security services, including managed services and cloud-based security services, are becoming increasingly popular due to their flexibility and scalability. Automation and single sign-on are also gaining traction to improve efficiency and enhance security. Overall, the Internet Security market is a dynamic and evolving landscape, requiring continuous innovation and adaptation to address emerging threats and protect digital assets.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

SolutionProductsServicesGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/internet-security-market-to-grow-by-usd-18-63-billion-from-2024-2028–boosted-by-byod-adoption-and-ai-redefining-the-market-landscape—technavio-302278815.html

SOURCE Technavio

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

TCL CSOT Highlights IJP OLED Innovations at the Omdia Korea Display Conference

Published

55 mins ago

on

October 18, 2024

By

SEOUL, South Korea, Oct. 17, 2024 /PRNewswire/ — At the recent Omdia Korea Display Conference, Mr. Ming-Jong Jou, Chief of the Technology Planning Center at TCL CSOT, shared the advantages of IJP OLED technology and outlined TCL CSOT’s strategic focus in this field. TCL CSOT continues to redefine display technology, focusing on delivering exceptional performance and sustainability.

During the keynote titled “IJP OLED Status and Future Prospects,” Mr. Jou discussed TCL CSOT’s advancements in next-generation printed OLED displays. Looking ahead, OLED has significant growth potential. In particular, TCL CSOT has achieved comprehensive breakthroughs in image quality, power consumption, and lifespan, elevating its performance to the level of mainstream display technologies. TCL CSOT has also leveraged the inherent advantages of IJP OLED technology in terms of cost, flexible production, and future potential.

Mr. Jou highlighted recent advancements in IJP OLED, including better image quality achieved through more accurate printing and a side-by-side RGB structure, which ensures clear and vibrant visuals. The technology also boasts lower power consumption, with materials efficiency doubled, a 50% reduction in light loss due to internal reflection, and a 1.5 times improvement in light output efficiency. Lifespan has also been significantly enhanced, with an aperture ratio three times larger and material lifespan improved tenfold. Additionally, IJP OLED delivers cost competitiveness, with a 20% reduction in total cost, flexible production that shortens the product development life cycle by 30%, and a low-carbon footprint, cutting EL process carbon emissions by over 20%.

Currently, TCL CSOT’s efforts in IJP OLED technology are concentrated on medium-sized display applications, such as commercial monitors, laptop displays, and specialized products in medical. IJP OLED can be used across various production areas (TV/MNT/NB/TB) due to its simple product structure and easy fabrication process. TCL CSOT is utilizing IJP OLED to develop new display products, while continuously optimizing specifications and expanding notebook and tablet applications. Among these is the TCL CSOT 14″ 2.8K Hybrid OLED display. With a 2.8K resolution, over 99% DCI-P3 color gamut, and adaptive refresh rates ranging from 30 to 120Hz, this display provides seamless transitions ideal for gaming, design, and video editing. The lightweight design with Hybrid OLED technology and the new Oxide compensation circuit further enhances its flexibility, making it perfect for business and mobile productivity. With over 11 years of experience in printed OLED technology and the largest number of invention patents globally in this field, TCL CSOT continues to lead the industry in this innovative technology.

About TCL CSOT:

TCL CSOT (TCL China Star Optoelectronics Technology), established in 2009, is committed to developing innovative technologies in the display industry. TCL CSOT’s business encompasses producing display panels from 1 to 115 inches. From LCD to OLED to MLED, TCL CSOT offers solutions across a wide array of applications, including TVs, mobile phones, tablets, laptops, monitors, automotive displays, XR (Extended Reality) devices, wearables, commercial displays, and other fields. The company leads the market in several of these areas and is dedicated to ongoing technological innovation, providing high-end products for customers and building a vibrant display industry ecosystem.

View original content to download multimedia:https://www.prnewswire.com/news-releases/tcl-csot-highlights-ijp-oled-innovations-at-the-omdia-korea-display-conference-302279951.html

SOURCE TCL China Star Optoelectronics Technology

Continue Reading

Technology

BRI Partners with Nium to Expand Real-Time Cross-Border Payment Solutions

Published

55 mins ago

on

October 18, 2024

By

JAKARTA, Indonesia, Oct. 18, 2024 /PRNewswire/ — Nium, the leading global infrastructure for real-time cross-border payments, is thrilled to announce a partnership with Bank Rakyat Indonesia (BRI) to provide Indonesian customers with real-time international money transfer capabilities. This collaboration aims to enhance the cross-border offerings for BRI’s individual and corporate customers, delivering more accessible and cost-effective financial services across Indonesia.

This partnership empowers more than 150 million BRI account holders, including those in remote regions of Indonesia, to access modern, real-time cross-border payment services. The offering includes a variety of real-time payment mechanisms, supporting bank account destinations, a global electronic card network, and digital wallets. These innovations are closely aligned with BRI’s ongoing mission to provide affordable and customer-focused financial products, particularly for traditionally underserved communities.

BRI’s Corporate Secretary, Agustya Hendy Bernadi, emphasized BRI’s dedication to constantly improving customer convenience through innovations in its global network and cross-border transaction services. “This collaboration reflects BRI’s continuous efforts to enhance productivity and efficiency by expanding its digital payment channel network to meet the growing demand for global transactions,” he said. Agustya added that the partnership with Nium aligns perfectly with BRI’s vision to be Southeast Asia’s most valuable banking group and a champion of financial inclusion by 2025. “With Nium’s global transaction network, BRI strengthens the digitalization of its business processes and enhances retail banking capabilities in line with our 2025 strategic vision.”

Anupam Pahuja, General Manager and Executive Vice President for Asia Pacific, Middle East, and Africa at Nium, shared his excitement about the partnership, highlighting BRI’s extensive presence across Indonesia’s 17,000 islands. “By integrating Nium’s advanced technology into BRI’s platform, we are dedicated to providing BRI’s customers, no matter where they are, with access to exceptional financial services. This partnership will remove the risks associated with cash handling and provide faster, more cost-effective transactions—whether individuals are sending money to family members abroad or businesses are making international payments.”

Cross-border payments are projected to grow significantly in Indonesia, with a forecasted year-on-year increase of 15% through 2025, driven largely by the digital transformation in financial services (Statista, 2024).

This partnership between BRI and Nium is expected to transform the way Indonesians engage with global financial services, meeting the rising demand for modern payment infrastructure and enhancing the overall experience for BRI’s customers in their international transactions.

About Nium 

Nium, the leading global infrastructure for real-time cross-border payments, was founded on the mission to deliver the global payments infrastructure of tomorrow, today. With the onset of the global economy, its payments infrastructure is shaping how banks, fintechs, and businesses everywhere collect, convert, and disburse funds instantly across borders. Its payout network supports 100 currencies and spans 220+ markets, 100 of which in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 40 markets. Nium’s growing card issuance business is already available in 34 countries. Nium holds regulatory licenses and authorizations in more than 40 countries, enabling seamless onboarding, rapid integration, and compliance – independent of geography. The company is co-headquartered in San Francisco and Singapore.  

Logo – https://mma.prnewswire.com/media/1678669/4973639/Nium_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/bri-partners-with-nium-to-expand-real-time-cross-border-payment-solutions-302279138.html

Continue Reading

Technology

Hot topics set for discussion in Beijing

Published

55 mins ago

on

October 18, 2024

By

BEIJING, Oct. 17, 2024 /PRNewswire/ — A report from China Daily:

A prestigious financial event is to commence on Friday in Beijing, where senior government officials, along with experts, scholars and representatives from global financial institutions, will deliver keynote speeches.

The Annual Conference of Financial Street Forum 2024, running until Sunday, is co-hosted by the Beijing government, the People’s Bank of China, the National Financial Regulatory Administration, the China Securities Regulatory Commission, Xinhua News Agency and the State Administration of Foreign Exchange.

This year’s event is to attract more than 500 distinguished guests from more than 30 countries and regions around the world.

Over the course of three days, participants will engage in discussions on current economic and financial hot topics, aiming to enhance mutual trust, deepen win-win cooperation and share development opportunities.

The theme of this year’s forum is “Trust and Confidence — Work Together to Promote Financial Openness and Cooperate for Shared Economic Stability and Growth”.

“Trust is the cornerstone of international cooperation and confidence is the support for economic development,” said Liu Dongwei, executive secretary-general of the forum’s organizing committee and head of Beijing’s Xicheng district.

“This theme fully reflects the deep consensus among the forum’s organizers, financial institutions and industry insiders, highlighting the development concepts of co-consultation, co-construction, co-governance and co-sharing.

“It also showcases the inclusiveness, the role of demonstration and leadership of the Financial Street Forum,” he added.

This year’s forum is structured around a main forum plus parallel forums and a fintech conference. It features 25 thematic activities and three investment and financing matchmaking events.

The main forum includes opening and closing ceremonies, as well as six thematic activities focusing on such topics as improving the modern central banking system, deepening capital market reforms, empowering industries through finance to lead high-quality development, and enhancing mutually beneficial international trade and investment cooperation.

The activities will also provide authoritative interpretations of international and domestic economic development trends and financial regulatory policies.

Additionally, the international level of this year’s forum has been enhanced. It has set up three sub-venues in Hong Kong, Luxembourg and Tokyo, inviting local governments and enterprises to participate. And, for the first time, it has invited the Hong Kong Financial Services Development Council to host thematic activities in Beijing.

The closing ceremony will be held in conjunction with the Hong Kong sub-venue, inviting representatives from the governments and institutions of Beijing and Hong Kong Special Administrative Region to participate in an in-depth discussion on the theme of “green finance”, promoting financial exchanges and cooperation between the Chinese capital and the SAR.

Also, it will continue to host high-level dialogues with former central bank governors from major global economic and financial countries, like China, the United Kingdom and Switzerland.

The parallel forums will focus on “strengthening economic and financial cooperation for coordinated development” and “finance supporting sustainable economic development”, setting up a series of professional, cutting-edge and in-depth activities.

The fintech conference, serving as a specific segment of the forum, will run until Tuesday. It will feature 17 events, focusing on artificial intelligence plus financial innovation; data elements plus financial applications; fintech development and achievements; and bridging the digital divide through fintech.

Liu highlighted five major features of this forum, one of which is the richer thematic setting. For instance, the forum has, for the first time, invited the Ministry of Industry and Information Technology and centrally-administered and State-owned enterprises to host themed activities. These aim to emphasize the forum’s role as a platform for positive interaction between finance and the real economy.

The forum has also innovated the path of sci-tech transformation by creating a fund-themed forum and holding corporate roadshows and industry-finance matchmaking meetings.

This year, the forum offers a variety of supporting activities, making it not only a professional exchange platform for financial industry practitioners but a grand event for the public.

For example, during the forum, a large-scale cultural performance will be held at the Beijing Tianqiao Performing Arts Center, covering various art forms such as dance, song, music and opera.

In addition, the forum will conduct a large-scale series of shopping activities. Starting from Oct 1 and lasting nearly a month, these activities are taking place mainly at Beijing’s Seasons Place luxury shopping mall and its surrounding areas.

They include a coffee market, auto shows, electronic product roadshows and outdoor dining experiences. There will also be a global product launch and sale event, offering substantial discounts and consumption vouchers to the public.

View original content to download multimedia:https://www.prnewswire.com/news-releases/hot-topics-set-for-discussion-in-beijing-302279301.html

SOURCE China Daily

Continue Reading

Trending