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

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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.

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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. 

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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.

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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.

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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/

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SOURCE Technavio

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DBS NAMED SAFEST BANK IN ASIA FOR THE 16TH CONSECUTIVE YEAR BY GLOBAL FINANCE

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October 18, 2024

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DBS ranked 2nd on the 50 Safest Commercial Banks list for the third consecutive year

SINGAPORE, Oct. 18, 2024 /PRNewswire/ — DBS Bank today announced that it has been named “Safest Bank in Asia” by New York-based trade publication Global Finance. This is the 16th consecutive year that DBS has been recognised with this accolade, extending a track record dating back to 2009. The bank also maintained its 2nd position in the ‘World’s 50 Safest Commercial Banks’ list and ranked 12th in the ‘World’s 50 Safest Banks’ list, holding both positions for the 3rd consecutive year.

The Global Finance annual rankings of the World’s Safest Banks have been the recognised and trusted standard of financial counterparty safety for more than three decades. Winners were selected through an evaluation of long-term foreign currency ratings—from Moody’s, Standard & Poor’s and Fitch—of the 500 largest banks worldwide.

Joseph D. Giarraputo, Global Finance founder and editorial director, said, “Amid ongoing economic volatility and increasing scrutiny of digital currencies, financial institutions must contend with an ever-growing number of risks. DBS continues to be resilient in its risk management across their network and a bedrock of banking services for its clients in Asia.”

Said Chng Sok Hui, Chief Financial Officer of DBS Bank, “It is an honour to be recognised by Global Finance as Safest Bank in Asia yet again. In a world marked by increasing geopolitical and economic uncertainties, DBS’ resilient franchise and strong credit ratings – underpinned by a solid balance sheet, robust controls and sound risk management practices – instils confidence from our stakeholders. This accolade is a testament to our financial strength, upon which we continue to fortify our role as a trusted partner to our customers and the community.”

DBS has received global recognition from several prestigious financial publications, having been named “World’s Best Bank” multiple times by Euromoney, Global Finance and The Banker, and “World’s Best Bank for Corporate Responsibility” and “World’s Best Digital Bank” by Euromoney. Additionally, DBS has been featured in numerous case studies, with the latest by Harvard Business School, published in 2024, accessible here.

About DBS

DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 16 consecutive years from 2009 to 2024.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.

DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.

View original content:https://www.prnewswire.com/in/news-releases/dbs-named-safest-bank-in-asia-for-the-16th-consecutive-year-by-global-finance-302280022.html

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LITEON Debuts Integrated AI Cloud Server Rack Solutions Powered by NVIDIA at 2024 OCP Summit

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2 hours ago

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October 18, 2024

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Pioneering Green Data Centers with Five Key Technologies: Power Supplies, Liquid Cooling, Racks, Software, and Systems

AI. Revolutionized. Green Resilience.

SAN JOSE, Calif., Oct. 17, 2024 /PRNewswire/ — LITEON Technology (2301.tw) is participating in the 2024 OCP Global Summit ( Open Compute Project ) in San Jose, USA, from October 15 to 17. Under the theme “AI. Revolutionized. Green Resilience,” LITEON will debut its new “Integrated AI cloud server rack solution.” This solution combines LITEON’s five key technologies: high-performance power supplies compliant with ORV3 standards, comprehensive liquid cooling systems, integrated mechanical design, intelligent power management software, and hardware-software system integration. Additionally, LITEON will showcase power supplies, racks, and liquid cooling systems compatible with NVIDIA architectures at the event. These include support for the NVIDIA GB200 NVL72 platform with a high-efficiency power system and NVIDIA MGX™ with modular system design racks, as well as liquid-to-liquid and liquid-to-air cooling solutions from LITEON. These innovations aim to enhance high-performance computing capabilities, efficient energy management, and cooling performance in data centers during the AI era, helping customers achieve low-carbon green data center energy management goals and creating comprehensive high-end AI computing system solutions.

Anson Chiu, the president of LITEON, states: “The AI-driven era has already transformed lifestyles and industries. Leveraging our deep technical expertise in high-end cloud server power supplies, LITEON integrates five key core capabilities: power, cooling, racks, software, and systems. This showcases LITEON’s comprehensive autonomous design and development technology. We continue to create sustainable and high-performance integrated server rack solutions, helping our customers achieve sustainable operations in green data centers, and pioneering a revolutionary new landscape in the AI field.”

“LITEON COOLING,” LITEON’s comprehensive liquid cooling solution, brings revolutionary changes to the cooling systems of green data centers, meeting the high-performance AI computing needs of data centers. At this event, LITEON showcases five liquid cooling series products. These include a fanless design 5600W Cold Plate Power Supply Unit with titanium-level efficiency, a liquid-to-liquid multi-intelligent in-row CDU 600kW,, liquid-to-liquid 120kW in-rack CDU compatible with the NVIDIA GB200 NVL72 platform, and liquid-to-air 140kW sidecar with the highest heat exchange efficiency, also compatible with the NVIDIA GB200 NVL72 architecture. These solutions offer flexible combinations for customers to meet various field and application needs, overcoming the limitations of traditional air cooling, significantly improving cooling efficiency, and enabling data centers to maintain high-performance workloads while reducing energy and carbon footprint consumption, creating more environmentally friendly green resilient data centers.

At this OCP exhibition, LITEON also showcases integrated cabinet power systems and solutions. These provide 97.5% high-density power conversion efficiency to meet the high-performance computing applications of AI servers. Additionally, LITEON’s self-developed intelligent power management system (PMC) offers customers digital management and remote real-time monitoring to assist decision-making, along with a robust power backup system featuring high-efficiency lithium battery backup power (BBU). Supported by intelligent power management software, it visualizes energy consumption patterns to ensure data center reliability.

LITEON integrates the advantages of five core energy management technologies, combining mechanical design, power system solutions, thermal management technology, and hardware-software integration capabilities. Paired with revolutionary server liquid cooling solutions, the integrated server rack design provides customers with rapid deployment in data center applications, committing to the advanced development of green resilient data centers.

For more information about LITEON’s power and liquid cooling solutions of green data center, please visit : https://www.liteon.com/en/solutions/green-data-center

LITEON’s Booth of OCP 2024 Information :

Date: October 15 – 17, 2024Location: San Jose McEnery Convention CenterBooth No.: C17-18Contact: Simon.Ong@liteon.com

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SOURCE LITEON Technology

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Taobao Malaysia Kicks Off 11.11 Sale, First Time in Both Chinese and English

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2 hours ago

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October 18, 2024

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Exciting early-bird perks await new and existing Malaysian users

KUALA LUMPUR, Malaysia, Oct. 18, 2024 /PRNewswire/ — The highly-anticipated Taobao 11.11 Sale (“11.11”) is back, set to be bigger and more inclusive for Malaysian consumers. With the theme “Shop As Far As You Can Think,” this year’s festival promises attractive offers and an unparalleled shopping experience made even more accessible through Taobao’s beta English Interface, introduced in September to complement the Chinese version.

Starting from 21 October, 8pm, Malaysian shoppers can indulge in a month-long celebration of exciting promotions, enticing instant discounts and chances to grab daily free shipping vouchers worth RM21, discovering exceptional bargains on a wide range of products across participating brands and merchants, from home essentials and fashion items to electronics accessories and more.  

Jess Lew, Country Manager for Tmall Taobao World, Malaysia, said, “We are thrilled to bring Taobao’s 11.11 Sale back to Malaysian consumers and enhance it to be bigger and better than ever. Our commitment is to create a shopping experience that is not only enjoyable but also tailored to the unique needs of local shoppers. With the beta English Interface now available, it has never been easier for everyone in Malaysia to immerse themselves in the excitement of this global shopping festival and discover all that Taobao has to offer.”

The festival kicks off with an early first sales window, running from 20:00:00 on 21 October to 23:59:59 on 24 October 2024, allowing shoppers ample time to check out their shopping cart items to enjoy early-bird 11.11 savings and early arrivals. The second phase will then follow, starting from 20:00:00 on 31 October and running until 23:59:59 on 11 November, where consumers enjoy extended promotional offers to secure their ideal products for the upcoming Christmas and Chinese New Year seasons.

Malaysia was one of the only two markets, alongside Singapore, where Taobao has rolled out a beta English Interface. Featuring artificial intelligence (AI)-powered translations, the new interface aims to bridge language barriers and provide non-Chinese-speaking Malaysian users with the opportunity to enjoy the platform’s diverse offerings in a seamless, user-friendly experience.

“We hope more Malaysian users will leverage this opportunity to shop for anything that comes to mind during this 11.11. Coupled with free shipping, shoppers can have their parcels delivered to their doorsteps in as fast as one week with our robust end-to-end logistics infrastructure,” added Lew.

To mark this year’s 11.11, Taobao Malaysia has curated a series of attractive promotions designed to give Malaysian consumers more ways to save:

Everyday Free Shipping: Stand a chance to grab free shipping vouchers daily at 10am worth RMB35 (equivalent to RM21) throughout the 11.11 period with no minimum spend.Buy More, Save More: Get a platform-wide discount of RMB50 for every RMB300 spent (equivalent to RM29 off for every RM170 spent).Surprise Instant Discounts: Check out daily at 8pm from 21 to 24 October to unlock an instant discount of up to RM300.Daily Promo Codes: Stand a chance to snag promo codes worth up to RMB111 (equivalent to RM66), released daily at 9pm on Taobao Malaysia’s Facebook and Instagram.New User Perks: New Taobao app users can claim exclusive benefits worth up to RM90, including:3 x Free shipping vouchers worth RMB105 (equivalent to RM65) in totalRMB30 off with a minimum spend of RMB31 (equivalent to RM18 off with a minimum spend of RM19)Service fee waiver of up to RMB15 (equivalent to RM10)Free return on first order (for West Malaysia only)

Additionally, Taobao Malaysia users making purchases with one of the following credit cards provided by third-party financial institutions can enjoy an instant discount of up to RM80 during the selected promotional periods:

31 October to 3 November; 10 to 11 November, 8PMCIMB: RM25 off with a minimum spend of RM180RHB: RM38 off with a minimum spend of RM250 OR RM50 off with a minimum spend of RM500PBB: RM30 off with a minimum spend of RM300 OR RM80 off with a minimum spend of RM600

Only on 31 October, 10AMRHB: RM25 off with a minimum spend of RM250

Only on 8 November, 10AMPBB: RM20 off with a minimum spend of RM200

The Taobao app is available to download for FREE on both the Apple App Store and Google Play Store. For more details on Taobao Malaysia’s 11.11 promotions, please stay tuned for updates on the Taobao Malaysia Facebook, Instagram and TikTok social media channels or visit the Taobao app.

* The platform rules will prevail over the specific promotion details.

About Taobao Malaysia
Taobao Malaysia aims to facilitate convenient shopping on Taobao and Tmall for consumers in Malaysia. Through the Taobao app, Malaysian shoppers can access billions of products, complete with logistics, payment and other services and offers tailored to their individual market needs. Taobao Malaysia is part of Alibaba International Digital Commerce Group.

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SOURCE Taobao Malaysia

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