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Cybersecurity Market to Surge by USD 107.1 Billion (2024-2028), Driven by Rising Mobile Device Usage, AI-Driven Report Highlights Evolving Market Landscape – Technavio

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NEW YORK, Nov. 12, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global cyber security market size is estimated to grow by USD 107.1 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 9.6% during the forecast period. Increase in use of mobile devices is driving market growth, with a trend towards adoption of IOT. However, high cost of deployment poses a challenge.Key market players include AO Kaspersky Lab, Booz Allen Hamilton Holding Corp., Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., Dell Technologies Inc., Fortinet Inc., F Secure Corp., General Dynamics Corp., Hewlett Packard Enterprise Co, International Business Machines Corp., Juniper Networks Inc., Lockheed Martin Corp., McAfee LLC, Microsoft Corp., Northrop Grumman Corp., RTX Corp., Sophos Ltd., The Boeing Co., and Trend Micro Inc..

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Cyber Security Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 9.6%

Market growth 2024-2028

USD 107.1 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

10.59

Regional analysis

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

Performing market contribution

North America at 39%

Key countries

US, China, UK, Germany, and Japan

Key companies profiled

AO Kaspersky Lab, Booz Allen Hamilton Holding Corp., Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., Dell Technologies Inc., Fortinet Inc., F Secure Corp., General Dynamics Corp., Hewlett Packard Enterprise Co, International Business Machines Corp., Juniper Networks Inc., Lockheed Martin Corp., McAfee LLC, Microsoft Corp., Northrop Grumman Corp., RTX Corp., Sophos Ltd., The Boeing Co., and Trend Micro Inc.

Market Driver

The Cybersecurity market is experiencing significant growth due to the increasing use of digital technologies in business. Companies like CSIS, McAfee, and Broadcom are leading the way in providing cybersecurity solutions for IT infrastructure, including AI-powered threat detection and response, cloud security services, and network security. With the rise of IoT devices, Big Data Analytics, and digital transactions, regulatory compliance with standards like HIPPA, GDPR, PCI DSS, ONDC, and Open Commerce is crucial. SMEs and large enterprises alike face cyber threats, operational disruptions, and the need for skilled cybersecurity personnel to address the cyber talent shortage and budget constraints. Cloud-based cybersecurity solutions, including SaaS and IaaS, offer deployment and implementation challenges. NGFWs, application security, and endpoint security are essential components of a cybersecurity strategy. Cyber attacks against healthcare organizations and e-commerce platforms continue to be a concern. Machine learning and blockchain technologies are being explored to enhance security. The cybersecurity market ecosystem includes MSS providers, threat detection and response services, and cloud-based security solutions. 

The Internet of Things (IoT) market facilitates the connection between various devices, enabling them to exchange data stored in the cloud. This data requires organization for efficient analysis and presentation. IoT enhances connectivity and addresses critical situations. Future advancements will integrate advanced features, such as mobile app control for home appliances and wearable devices tracking fitness metrics. IoT fosters seamless communication between systems, devices, and services. 

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Market Challenges

The Cybersecurity market is facing numerous challenges in the current IT landscape. With the increasing use of digital technologies like AI, IoT, Big Data Analytics, and Cloud Computing, the threat landscape is expanding rapidly. Regulatory compliance requirements such as HIPPA, GDPR, PCI DSS, ONDC, Open Commerce, and various industry-specific standards add to the complexity. Cyber Threats like attacks on Cloud Computing, IoT Devices, and Digital Transactions are on the rise, leading to operational disruptions and data protection concerns. Cybersecurity workforce shortage and budget constraints make it challenging for organizations, especially SMEs, to implement effective cybersecurity measures. MSS providers offer Threat Detection and Response services, but deployment and implementation challenges persist. Network Security solutions like NGFWs are essential, but large enterprises and healthcare sectors face unique challenges. Cloud-based cybersecurity solutions like Cloud Security Services, SaaS, and IaaS are increasingly popular, but deployment and budget constraints remain. Cybersecurity Market Ecosystem players like CSIS, McAfee, Broadcom, and NBER are leveraging Machine Learning and Artificial Intelligence to enhance threat detection and response capabilities. End-point security and Cloud application security are critical areas of focus. The Cybersecurity Market is expected to grow significantly, driven by the increasing use of digital technologies and the need for cybersecurity solutions.The global cyber security market faces a significant challenge due to the increasing costs of implementing and maintaining cyber security solutions. As cyber threats become more intricate and frequent, businesses are required to invest heavily in protective measures to shield their valuable data and systems. However, the financial strain of purchasing advanced hardware and software, hiring skilled cybersecurity personnel, and conducting routine security evaluations can be burdensome, especially for small and medium-sized enterprises with limited financial resources. The expenses also include ongoing staff training and adherence to various industry regulations, adding to the overall cost. Organizations must carefully weigh the benefits of comprehensive cyber security strategies against the financial implications.

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Segment Overview 

This cyber security market report extensively covers market segmentation by

End-user 1.1 Government1.2 BFSI1.3 ICT1.4 Manufacturing1.5 OthersDeployment 2.1 On-premises2.2 Cloud-basedGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Government- The global cyber security market in the government sector is projected to expand significantly due to the increasing number of security installations in developed and developing countries. With the heightened importance of data confidentiality and security, governments worldwide are adopting cyber security solutions. In the US, for instance, the Federal Bureau of Investigation (FBI) is leading the charge against cyberattacks, with the creation of the Cyber Division and the placement of cyber squads in each field office. The FBI’s new initiatives include Cyber Action teams and Computer Crimes Task Forces, all aimed at enhancing cyber security capabilities. In 2020, the US Department of Defense experienced hacking attacks, leading to the signing of a memorandum of understanding (MoU) between the Department of Defense, Defense Innovation Unit, and the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency. The rise in cyberattacks, particularly during the COVID-19 pandemic, is further fueling the demand for cyber security solutions, making this a significant growth area for the global cyber security market.

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Research Analysis

Cybersecurity is a critical aspect of IT infrastructure in the digital age, with various threats constantly emerging. CSIS (Cybersecurity and Infrastructure Security Agency) the importance of securing digital technologies against cyber attacks. AI, IoT, Big Data Analytics, Cloud Computing, and Digital Transactions are key areas of focus due to their increasing use and vulnerabilities. Regulatory compliance with HIPAA and GDPR is essential for healthcare and business organizations, respectively. Cyber threats continue to evolve, requiring advanced solutions like Machine Learning and AI. Remote work and e-commerce platforms present new challenges. MSS (Managed Security Services) providers offer solutions for organizations. Broadcom, NBER, and other tech companies are investing in cybersecurity research and development. Blockchain technology offers potential for enhanced security in digital transactions. Cybersecurity is an ongoing priority for businesses and individuals in the digital world.

Market Research Overview

The Cybersecurity market is a rapidly growing sector driven by the increasing use of digital technologies in business and daily life. With the proliferation of IT systems, IoT devices, and cloud computing, the need for cybersecurity solutions has become paramount. Cyber Threats such as operational disruptions, data breaches, and regulatory non-compliance pose significant risks to organizations. CSIS and McAfee are among the digital technologies leading the charge in cybersecurity. AI, Big Data Analytics, and Machine Learning are essential tools in threat detection and response. HIPAA, GDPR, PCI DSS, ONDC, Open Commerce, and various regulatory frameworks ensure data protection and privacy. Cybersecurity challenges extend to SMEs, SaaS, IaaS, and cloud-based cybersecurity solutions. Skilled cybersecurity personnel are in high demand, but the cyber talent shortage and budget constraints hinder deployment and implementation. Network Security solutions like NGFWs and cloud security services are crucial for securing digital transactions and protecting against cyber attacks. Remote work and digital commerce platforms like e-commerce and cloud applications require additional layers of security. Blockchain and End-point security offer potential solutions to these challenges. The cybersecurity market ecosystem continues to evolve, with large enterprises and healthcare sectors leading the way in adopting advanced cybersecurity solutions.

Table of Contents:

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

End-userGovernmentBFSIICTManufacturingOthersDeploymentOn-premisesCloud-basedGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

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/

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SOURCE Technavio

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Gentoo Media – Mandatory notification of trade

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ST JULIANS, Malta, Nov. 14, 2024 /PRNewswire/ — MJ Foundation Fundacja Rodzinna, a company related to Mateusz Juroszek, Board Member and primary insider of Gentoo Media Inc. (Gentoo) has today acquired 115,604 shares in Gentoo at a price of SEK 24,996 per share. After this transaction, close associates of Mateusz Juroszek hold 24,027,766 shares in Gentoo.

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

For further information, contact:
Tore Formo, Group CFO, tore.formo@g2m.com, +47 91668678

About Gentoo Media

Gentoo Media is a market-leading affiliate connecting operators and players in the online gambling and sports betting industry. Gentoo Media offers an array of iGaming affiliate solutions, such as paid marketing expertise and quality traffic through our prominent industry sites including AskGamblers, Time2Play, CasinoTopsOnline, WSN and Casinomeister. In 2024, Gentoo Media (formerly GiG Media) became Gentoo Media Inc. following a legal split separating the Media and Platform and Sportsbook business in Gaming Innovation Group (GiG) into two independently listed companies. Gentoo Media Inc. is dual listed on the Oslo Stock Exchange (ticker “G2MNO”) and Nasdaq Stockholm (ticker “G2M”). www.gentoomedia.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/gentoo-media-inc/r/gentoo-media—mandatory-notification-of-trade,c4066199

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Xinhua Silk Road: World IoT expo 2024 opens in E. China’s Wuxi to showcase future of smart connectivity

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BEIJING, Nov. 14, 2024 /PRNewswire/ — The World Internet of Things (IoT) Exposition 2024 kicked off on Monday in Wuxi City of east China’s Jiangsu Province, attracting industry leaders, representatives of enterprises and experts from across the globe to discuss industry trends and demonstrate innovative applications.

At the expo’s opening ceremony, Wuxi unveiled a national pilot project in intelligent connected vehicles, which aims to create a cohesive mode for car owners, vehicles and cities connection, contributing Wuxi’s expertise to smart vehicle initiatives.

Additionally, a new smart sensing chip engineering center was launched, representing an investment of over 1 billion yuan and focusing on high-density large-scale substrates and other advanced chip technologies to strengthen the city’s integrated circuit development.

The event also saw the release of several major IoT research achievements, including the 2024 IoT innovation development Taihu index and the 2024 white paper on advanced sensing technology and applications.

The three-day event features exhibitions, panel discussions, and thematic sessions that showcase the latest development in IoT innovations and applications. This year’s expo is poised to drive Wuxi’s high-quality growth in IoT while promoting global tech collaboration and knowledge sharing in the IoT field.

Wuxi has become a navigator of the IoT industry in China. The latest statistics show that in 2023, the scale of the IoT industrial cluster in Wuxi surpassed 450 billion yuan, taking the lead in Jiangsu Province.

Original link: https://en.imsilkroad.com/p/343117.html

SOURCE Xinhua Silk Road

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Agoda Highlights Five Urban Hikes for Adventurous Travelers

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SINGAPORE, Nov. 14, 2024 /PRNewswire/ — Digital travel platform Agoda introduces five urban hikes across Asia, offering travelers a chance to experience the perfect blend of city life and nature. These hikes, ranging from family-friendly to more challenging trails, provide an unmatched perspective on some of Asia’s most dynamic cities.

Whether it’s Elephant Hill in Taipei, with its stunning views of the Taipei 101, or Hong Kong’s famous Dragon Back, active travelers are in for a treat when embarking on these city hike adventures.

Andrew Smith, Senior Vice President, Supply at Agoda said: “Asia is special to have so many incredible hike routes right in the heart of these popular cities. The five highlighted hikes are just a sample of the many breathtaking city trails the continent has to offer. Adventurous travelers will want to try them all and thankfully Agoda helps make travel affordable with great value deals on over 4.5 million properties globally.”

These are the five city hikes, ranked from easiest to most challenging:

Kuala Lumpur’s Bukit Nanas Forest Reserve offers a unique experience of trekking through a tropical rainforest right in the city center. The trail is relatively easy, with well-marked paths and informative signboards about the local flora and fauna, making it a great choice for families and nature enthusiasts.

Elephant Hill in Taipei offers a short but rewarding climb. The trail is well-maintained and provides stunning views of Taipei’s skyline, including the famous Taipei 101. It’s an ideal spot for those looking to enjoy a quick escape into nature without straying far from the city.

In Singapore, the Southern Ridges trail offers a moderate hike through a series of interconnected parks and gardens. Spanning 10 kilometers, this trail provides a lush green corridor amidst the urban environment, with highlights including the Henderson Waves bridge and panoramic views of the city.

Namsan in Seoul presents a slightly more challenging hike, leading to the N Seoul Tower. The trail is popular among locals and tourists alike, offering a mix of natural beauty and cultural landmarks, with several routes to choose from depending on the desired difficulty level.

Finally, Hong Kong’s Dragon’s Back is a favorite for its breathtaking views of the coastline and the South China Sea. This moderately challenging hike is known for its undulating ridges and scenic vistas, providing a rewarding experience for those willing to tackle its ups and downs.

In each of these city hike destinations, Agoda offers great value accommodation. In addition to holiday properties, Agoda’s 130,000 flight routes and 300,000 activities ensure the platform is the one-stop travel solution to help booking an entire trip. The latest Agoda deals can be found in the Agoda app or on agoda.com/deals.

— ENDS —

 

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SOURCE Agoda

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