Cybersecurity Market

Evolving Cybersecurity Landscape: Top Trends Shaping the Future

The global cybersecurity market is expected to increase at a CAGR of 9.4% between 2023 and 2028, from USD 190.4 billion to USD 298.5 billion. Several critical aspects move the cybersecurity sector forward. The growing sophistication and frequency of cyberattacks necessitate advanced and powerful security solutions.

The cybersecurity market is constantly evolving to combat new threats and leverage new technologies. Here are some of the key emerging trends:

  • AI-powered Security
  • Automated Threat Hunting
  • Focus on Proactive Defense
  • Growing Importance of Cybersecurity Mesh Architecture
  • Evolving Regulatory Landscape
  • Increased Demand for Skilled Cybersecurity Professionals
  • Focus on User Education and Awareness
  • Growing Importance of Supply Chain Security
  • Integration of Security with Business Operations

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The cybersecurity market is constantly evolving to combat new threats and leverage new technologies. Here are some of the key emerging trends:

AI-powered Security:  Artificial intelligence (AI) and machine learning (ML) are playing an increasingly important role in cybersecurity. These technologies can automate threat detection and response, analyze vast amounts of data to identify patterns and anomalies, and even predict future attacks.

Automated Threat Hunting:  Traditional methods of threat hunting are time-consuming and resource-intensive. Automated threat hunting platforms use AI and ML to scan networks for suspicious activity, freeing up security analysts to focus on more complex tasks.

Focus on Proactive Defense:  Security is shifting from a reactive to a proactive approach. Organizations are moving away from simply trying to prevent breaches and towards continuously monitoring their systems for vulnerabilities and threats.

Growing Importance of Cybersecurity Mesh Architecture:  The growing complexity of IT landscapes, with multi-cloud, hybrid, and on-premises deployments, is driving the need for a more holistic approach to security. Cybersecurity mesh architecture provides a distributed security model that can effectively secure complex environments.

Evolving Regulatory Landscape:  Regulations around data privacy and cybersecurity are constantly evolving. Organizations need to stay up-to-date on the latest regulations and ensure that their cybersecurity practices are compliant.

Increased Demand for Skilled Cybersecurity Professionals:  The cybersecurity skills gap remains a major challenge. The demand for skilled cybersecurity professionals is outpacing the supply, which is driving up salaries and competition for talent.

Focus on User Education and Awareness:  Security awareness training for employees is crucial in preventing social engineering attacks and phishing scams. Organizations are increasingly investing in user education programs to help employees identify and avoid cyber threats.

Growing Importance of Supply Chain Security:  Supply chain attacks are becoming more common. Organizations need to assess the security posture of their vendors and suppliers to mitigate the risk of cyberattacks.

Integration of Security with Business Operations: Cybersecurity is no longer an afterthought. It is becoming increasingly integrated with overall business operations. Organizations are recognizing that cybersecurity is essential for protecting their critical data and infrastructure.

Cybersecurity Market Share - Global Industry Landscape

The cybersecurity industry is populated with several leading companies, each offering a range of products and services. Here are some of the prominent players along with their market share and key offerings:

  • Palo Alto Networks (US)
  • Fortinet (US)
  • Micro Focus (Open text) (UK)
  • AWS (US)
  • Accenture (Ireland)
  • NTT (Japan)
  • Cynet (Israel)

Palo Alto Networks (US):

Market Share: Palo Alto Networks is a significant player in the cybersecurity industry, with a notable market share, particularly in the next-generation firewall segment.

Key Offerings: Palo Alto Networks offers a range of cybersecurity solutions, including next-generation firewalls, cloud security, endpoint protection, threat intelligence, and security analytics. Their products focus on advanced threat detection and prevention capabilities to secure networks and endpoints effectively.

Fortinet (US):

Market Share: Fortinet is a prominent player in the cybersecurity industry, especially known for its network security solutions.

Key Offerings: Fortinet specializes in network security, offering firewalls, intrusion prevention systems, secure web gateways, and VPNs. They also provide endpoint security, cloud security, and security management solutions. Fortinet's Security Fabric platform integrates various security products to provide comprehensive protection against cyber threats.

Micro Focus (UK) (formerly known as OpenText):

Market Share: Micro Focus has a notable presence in the cybersecurity market, particularly with its focus on enterprise security solutions.

Key Offerings: Micro Focus provides a wide range of cybersecurity solutions, including application security, data security, identity and access management, and security operations. Their products aim to help organizations protect their digital assets and secure their IT environments effectively.

AWS (US) (Amazon Web Services):

Market Share: AWS is a dominant force in the cloud computing market and has a significant presence in cloud security services.

Key Offerings: AWS offers a wide range of cloud security services, including identity and access management, network security, data encryption, threat detection, and compliance. Their security services are designed to help organizations secure their cloud environments and protect their data and applications from cyber threats.

Accenture (Ireland):

Market Share: Accenture is a global professional services company with a notable presence in the cybersecurity consulting and services market.

Key Offerings: Accenture provides a comprehensive range of cybersecurity services, including consulting, managed security services, incident response, and threat intelligence. They help organizations assess their security posture, develop cybersecurity strategies, and implement security solutions to address their specific needs.

NTT (Japan):

Market Share: NTT is a leading global technology and services provider with a significant presence in the cybersecurity market, particularly in Japan and Asia-Pacific.

Key Offerings: NTT offers a wide range of cybersecurity solutions and services, including managed security services, threat intelligence, security consulting, and incident response. They provide end-to-end cybersecurity solutions to help organizations protect against cyber threats and secure their digital assets.

Cynet (Israel):

Market Share: Cynet is an emerging player in the cybersecurity industry, particularly known for its autonomous breach protection platform.

Key Offerings: Cynet offers an integrated cybersecurity platform that combines endpoint protection, network security, and security analytics. Their platform uses artificial intelligence and machine learning to detect and respond to cyber threats autonomously, helping organizations improve their security posture and reduce the risk of breaches.

Related Reports:

Cybersecurity Market by Offering, Solution Type, Services (Professional and Managed), Deployment Mode (On-Premises Cloud, and Hybrid), Organization Size (large enterprises and SMEs), Security Type, Vertical and Region - Global Forecast to 2028

Cybersecurity Market Size,  Share & Growth Report
Report Code
TC 3485
RI Published ON
4/6/2024
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