Artificial Intelligence
USD 374+ Bn Cyber Security Market is Expected to Grow at a CAGR of over 9.5% During 2022-2028 | Vantage Market Research
WASHINGTON, April 25, 2022 (GLOBE NEWSWIRE) — Vantage Market Research’s recent analysis of the Global Cyber Security Market finds that the increase in globalized threat of ransomware is expediting market growth. Primarily driven by rising adoption of IoT, the total Global Cyber Security Market is estimated to reach USD 374.9 Billion by 2028.
The market stood at a revenue of USD 217.5 Billion in the year 2021, and is expected to grow at a Compound Annual Growth Rate (CAGR) of 9.5%.
Furthermore, the growing adoption of artificial intelligence and blockchain technology for risk analytics is also anticipated to augment the growth of the Global Cyber Security Market, states Vantage Market Research, in a report, titled “Cyber Security Market Size, Share & Trends Analysis Report by Component (Hardware, Software, Services), by Software (APT, Threat Intelligence Platform, SIEM, Security and Vulnerability Management), by Security Type (Network Security, Endpoint Security, Application Security, Cloud Security), by Deployment Type (Cloud, On- Premises), by Organization Size (Large Enterprise, SMEs), by Verticals (Aerospace and Defense, Government, BFSI, IT), by Region (North America, Europe, Asia Pacific, Latin America) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”.
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Market Dynamics:
Driver: Increase in Globalized Threat of Ransomware to Fuel Global Cyber Security Market
Ransomware denies users and system administrator’s access to files or entire networks. Once this type of malware infects systems, threat actors will send a ransom note typically demanding payment in Bitcoin. These threats can be found in every industry including government, BFSI, IT, healthcare, retail, and manufacturing, among others. According to 2021 ransomware report by The Health Sector Cybersecurity Coordination Centre, total of 82 ransomware incidents impacting the healthcare sector were found across the globe till May 25, 2021 and 48 of these ransomware attacks which is approximately 60% impacted the health sector in United States. Further, as per the 2021 survey of HPH organizations 34% of healthcare organizations were hit by ransomware in the last year and 65% that were hit by ransomware said the cybercriminals succeeded in encrypting their data in the last year. Many such ransomware attacks have been taking place since few decades across various sectors and cyber security provides protection against all such malwares and safeguards devices connected to the internet and hence which is expected to result in increase in the demand of cyber insurance across the globe.
Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Cyber Security market is predicted to grow at a CAGR of roughly 9.5% during the forecast period.
- The Cyber Security market was estimated to be worth roughly USD 217.5 Billion in 2021 and is expected to reach USD 374.9 Billion by 2028; based on primary research.
- On the basis of region, Asia Pacific is projected to dominate the worldwide Cyber Security market.
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Segmentation of the Global Cyber Security Market:
- Component
- Hardware
- Software
- Services
- Software
- APT
- Threat Intelligence Platform
- SIEM
- Security and Vulnerability Management
- Network Access Control
- Antivirus/Antimalware
- Firewall
- Secure Web Gateway
- SOAR
- IAM
- Encryption
- Disaster Recovery
- IDS/IPS
- Risk and Compliance Management
- Others
- Security Type
- Network Security
- Endpoint Security
- Application Security
- Cloud Security
- Others
- Deployment Type
- Cloud
- On- Premises
- Organization Size
- Large Enterprise
- SMEs
- Verticals
- Aerospace and Defense
- Government
- BFSI
- IT
- Healthcare
- Retail
- Manufacturing
- Energy and Utilities
- Telecommunications
- Media and Entertainment
- Others
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Driver: Increasing Adoption of IoT to Stimulate Market Growth
The increase in adoption of IoT is anticipated to augment the growth of the Cyber Security Market within the estimated period. More than 21 billion active internet of things (IoT) devices exist today, and this trend is expected to continue in the years to come. Most of the industries such as manufacturing, transportation/mobility, energy and utilities retail, and healthcare, among others have integrated IoT technology in their operations. The major issue with IoT devices is that they make it possible for anyone to conduct different cyber-attacks and hackers will find malicious ways to hack the organizations data and operations. IoT devices are considered to be the end points and are prone to cyber-attacks by the hackers. Hence, the demand for cyber security increases with increase in these devices with rising cyber- attacks.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the IT industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The report on Cyber Security Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
North America to Dominate the Global Cyber Security Market
North America has dominated the Global Cyber Security Market in 2021 and is likely to continue the same trend during the forecast period. The US dominated the North America region in 2021. This is attributable to the presence of prominent security vendors in the region. Furthermore, rising stringency of data privacy and security standards along with increasing spending on security solutions and services across various industries are also anticipated to encourage the adoption of cyber security.
Asia Pacific is expected to grow at a fastest Compound Annual Growth Rate (CAGR) during the forecast period. This is attributable to the rising security threats in the region. Additionally, the growing initiatives in developing a strong cyber defense ecosystem is also expected to support the regional growth of the market in the years to come. Further, increasing investments by governments and investors along with rising number of service providers in the region is also expected to support the growth of the market within the estimated timeframe.
List of Prominent Players in the Cyber Security Market:
- IBM (US)
- Cisco (US)
- Check Point (Israel)
- FireEye (US)
- Trend Micro (Japan)
- Norton Life Lock (US)
- Rapid7 (US)
- Micro Focus (UK)
- Microsoft (US)
- Amazon Web Services (US)
- Oracle (US)
- Fortinet (US)
- Palo Alto Networks (US)
- Accenture (Ireland)
- McAfee (US)
- RSA Security (US)
- Forcepoint (US)
- Sophos PLC (UK)
- Imperva (US)
- Proofpoint (US)
- Juniper Network (US)
- Splunk (US)
- SonicWall (US)
- CyberArk (US)
- F-secure (Finland)
- Qualys (US)
- F5 (US)
- Algo Sec (US)
- Sentinel One (US)
- Data Visor (US)
- Rev Bits (US)
- Wi-Jungle (India)
- Blu Vector (US)
- Aristi Labs (India)
- Securden (US)
Browse market data Tables and Figures spread through 149 Pages and in-depth TOC on “Cyber Security Market Size, Share & Trends Analysis Report by Component (Hardware, Software, Services), by Software (APT, Threat Intelligence Platform, SIEM, Security and Vulnerability Management), by Security Type (Network Security, Endpoint Security, Application Security, Cloud Security), by Deployment Type (Cloud, On- Premises), by Organization Size (Large Enterprise, SMEs), by Verticals (Aerospace and Defense, Government, BFSI, IT), by Region (North America, Europe, Asia Pacific, Latin America) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)” View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/cyber-security-market-157978
Recent Developments:
December, 2020: IBM Security announced new technology initiatives leveraging Amazon Web Services (AWS), designed to help clients simplify and extend their security visibility across AWS and hybrid cloud environments. Through a unique combination of security technology and services that embrace AWS services, IBM Security can work to help clients securely migrate to AWS and modernize workloads as part of their broader hybrid cloud strategy.
December, 2019: Deloitte and Google Cloud announced their collaboration to leverage the strength of their portfolios in cyber and cloud solutions to provide customers with end-to-end secure cloud transformation services and solutions in support of their digital transformation journeys and to better combat cyber threats.
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Cyber Security Market?
- How will the Cyber Security Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Cyber Security Market?
- What is the Cyber Security market drivers and restrictions?
- What will be the CAGR and size of the Cyber Security Market throughout the forecast period?
This market titled “Cyber Security Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered | • component • Hardware • Software • Services • Software • APT • Threat Intelligence Platform • SIEM • Security and Vulnerability Management • Network Access Control • Antivirus/Antimalware • Firewall • Secure Web Gateway • SOAR • IAM • Encryption • Disaster Recovery • IDS/IPS • Risk and Compliance Management • Others • Security type • Network security • Endpoint security • Application security • Cloud security • Others • deployment type • Cloud • On-Premises • organization size • Large Enterprise • SMEs • verticals • Aerospace and Defense • Government • BFSI • IT • Healthcare • Retail • Manufacturing • Energy and Utilities • Telecommunications • Media and Entertainment • Others • Region • North America • Europe • Asia Pacific • Latin America • Middle East & Africa |
| Region & Counties Covered | • North America • U.S. • Canada • Mexico • Europe • U.K • France • Germany • Italy • Spain • Rest Of Europe • Asia Pacific • China • Japan • India • South Korea • South East Asia • Rest Of Asia Pacific • Latin America • Brazil • Argentina • Rest Of Latin America • Middle East & Africa • GCC Countries • South Africa • Rest Of Middle East & Africa |
| Companies Covered | • IBM (US)
• Cisco (US) • Check Point (Israel) • FireEye (US) • Trend Micro (Japan) • Norton Life Lock (US) • Rapid7 (US) • Micro Focus (UK) • Microsoft (US) • Amazon Web Services (US) • Oracle (US) • Fortinet (US) • Palo Alto Networks (US) • Accenture (Ireland) • McAfee (US) • RSA Security (US) • Forcepoint (US) • Sophos PLC (UK) • Imperva (US) • Proofpoint (US) • Juniper Network (US) • Splunk (US) • SonicWall (US) • CyberArk (US) • F-secure (Finland) • Qualys (US) • F5 (US) • Algo Sec (US) • Sentinel One (US) • Data Visor (US) • Rev Bits (US) • Wi-Jungle (India) • Blu Vector (US) • Aristi Labs (India) • Securden (US) |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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Artificial Intelligence
How AIoT shapes the future of mobility: Hikvision at ITS World Congress 2024
HANGZHOU, China, Sept. 27, 2024 /PRNewswire/ — Hikvision made a significant impact at the ITS World Congress in Dubai with its captivating theme, “Embrace AIoT for safer, smarter, and greener mobility.” Its booth became a hub of innovation, where visitors explored AIoT solutions that are reshaping the transportation landscape, sparking deep conversations on the future of urban mobility.
Road safety revolution: harnessing AIoT for secure transportation
Hikvision’s commitment to road safety was on full display at its booth through the impressive array of AIoT solutions designed to create secure and reliable traffic environments. The company’s technology provides 24/7 traffic monitoring, ensuring continuous oversight of motor vehicles, non-motorized vehicles, pedestrians and environmental factors. This comprehensive, real-time information collection enables traffic managers to prevent accidents and enhance road safety. Among the showcased products was the 20 MP IR ANPR Checkpoint Capture Unit, renowned for its high-definition capture capabilities, bolstering traffic safety measures.
A standout innovation was the integration of advanced radar and camera technologies, ensuring uninterrupted, comprehensive detection even in adverse weather conditions. The Radar-Video Fusion Incident Detection Cameras, featured prominently in the product experience area, enable early detection and warning of potential hazards. They are particularly effective in challenging situations such as curved roads, blind spots at intersections, and obstacles beyond visual range.
Attendees also engaged with onboard monitoring products on the simulated bus, including dome network cameras, which is designed to enhance passenger safety. Driving assistance products, such as the Driver Status Monitor (DSM), were demonstrated to mitigate unsafe driving behaviors and ensure safer journeys.
Urban mobility redefined: smart traffic innovations
In the realm of smarter mobility, Hikvision showcased its multidimensional sensing technology, which integrates visible light sensors, infrared sensors, radar, and sonar. This technology expands perception capabilities, significantly improving traffic management and situational awareness. The use of AI-powered comprehensive sensing elevates incident monitoring and violation detection to unprecedented levels of accuracy and efficiency.
A major attraction was the Radar-Video Fusion TandemVu PTZ Camera, which integrates millimeter-wave radar with high-resolution cameras for extensive traffic detection and data analysis. AI-based algorithms combine these two systems to enhance target information, detecting up to 16 types of incidents. This leads to the development of a large-scale fusion model that merges spatial physical data with image semantic information. The result is ultra-long-range perception, achieving over 95% accuracy in vehicle trajectory detection. This robust system improves traffic violation management and optimizes traffic flow, significantly enhancing road efficiency.
At the simulated bus station, visitors observed how AI-assisted people counting automated the collection of passenger flow statistics at peak stop hours and bus line frequency during busy periods. Paired with smart bus stop digital signage, the solution improves bus service quality, operational efficiency, passenger experience, and overall public transport effectiveness.
Sustainable transportation: leading the charge for greener cities
Hikvision’s commitment to sustainable urban mobility was evident through its innovative green wave technology and eco-friendly checkpoint solutions. Green wave technology efficiently manages traffic flow to reduce congestion and lower carbon emissions, aligning with global sustainability goals. Visitors were particularly impressed by a case study showcasing a green wave solution implemented in Zhoushan, China. Over a stretch of 21 kilometers and 34 intersections, this main road cut travel times by 50%.
The use of DarkFighterX technology in checkpoint cameras also received significant attention. This technology senses both visible and invisible light, resulting in more accurate and realistic images. It enhances traffic violation enforcement efficiency while minimizing the need for high ambient light levels, thus reducing light pollution. The 9M DarkfightX ANPR Checkpoint Camera exemplified this dedication to environmental stewardship.
Frank Zhang, President of Hikvision MEA, remarked, “Hikvision supports sustainable urban planning by empowering traffic departments to address congestion and transportation challenges.” He further emphasized, “Our system’s openness fosters a secure and reliable platform for developing smart and green cities. Additionally, our solar technology is extensively utilized in remote areas, while our smart street lighting solutions reduce energy consumption by 20-30%, promoting intelligent urban transportation and advancing global sustainability objectives.”
Hikvision’s presence at the ITS World Congress in Dubai underscored its leadership in integrating AIoT technologies to drive safer, smarter, and greener mobility solutions. The engaging presentations and advanced product demonstrations captured significant attention from industry partners and customers, reaffirming the company’s role as a pioneer in shaping the future of urban transportation. As the world moves towards more intelligent and sustainable transportation systems, Hikvision remains at the forefront, embracing AIoT to create a safer, smarter, and greener future for all.
To find out more about Hikvision’s advanced traffic and public transport solutions, please explore the Hikvision official website.
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Artificial Intelligence
Anti-Drone Market worth $7.05 billion by 2029 – Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Sept. 27, 2024 /PRNewswire/ — The global anti-drone market was valued at USD 2.16 billion in 2024 and is projected to reach USD 7.05 billion by 2029; it is expected to register a CAGR of 26.7% during the forecast period according to a new report by MarketsandMarkets™. Increasing government spending on counter-drone technologies, rising incidence of critical infrastructure security breaches by unauthorized drones, and surge in adoption of aerial remote sensing technologies to safeguard critical infrastructure are attributed to the demand for anti-drone.
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Browse in-depth TOC on “Anti-Drone Market” 178 – Tables61 – Figures253 – Pages
Anti-Drone Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 2.16 billion
Estimated Value by 2029
$ 7.05 billion
Growth Rate
Poised to grow at a CAGR of 26.7%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By System Type, Application, Platform type, Vertical, and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Vulnerability to hacking
Key Market Opportunities
Emphasis on improving unmanned aircraft systems technology
Key Market Drivers
Growing number of illicit activities
By System Type: Hybrid systems to account for the larger market share in the forecasted year.
The hybrid segment accounted for the largest share of the anti-drone market in 2029. The trends of integrating multiple anti-drone technologies are rising since they are most effective in detecting, tracking, and neutralizing drone threats. These systems merge electronic, kinetic, and lasers, providing a comprehensive defense solution against UAVs. Hybrid systems use electronic, kinetic, and laser-based countermeasures to offer optimum protection against drones. These systems are designed to detect, track, identify, categorize, and mitigate drones at operational wide ranges ranging from a few km up to tens of km.
By Platform: The ground-based segment accounted for the largest market share in the forecast year.
The ground-based segment will hold a major share of the anti-drone market in 2029. Many ground-based anti-drone systems use several electronic technologies, such as radar, IR sensors, acoustic systems, and RF & GNSS jammers. MESA radar solutions are used mostly for counter-UAS purposes, protecting critical infrastructure, military camps, and other security-sensitive sites from unauthorized drones. One such solution is EchoGuard, a ground-based airspace management solution that contains a software-defined 3D radar that can be specific to the site. This system can identify single or multiple off-chance drones, including swarms in unauthorized areas. They provide accurate and sustained airspace surveillance for the field of view (FOV) they are configured, and both human and AI-monitored visual checks. The system can be easily transported and integrated directly with the command-and-control centers or another identification sensor for portable use, and multiple units of the system can be combined to cover vast areas or lengths of borders. Major providers of ground-based counter-drone systems include companies like EchoDyne Corporation, DeTect, Meteksan Defense, and WhiteFox Defense. Acoustics-based Discovair G2 utilizes patented microphone arrays. With 128 interconnected microphone elements, the Discovair sensor units can establish azimuth and elevation to the target in real-time using advanced digital signal processing.
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By Region: Americas are expected to hold the largest share of the anti-drone market during the forecast period.
Americas is expected to capture the largest share in the anti-drone industry during the forecast period. The growth can be attributed to protecting crucial infrastructure in the region. Governments, particularly in the US, invest in anti-drone systems for military bases, borders, and critical infrastructure. For Instance, in April 2023, RTX secured a USD 237 million contract from the US Army to provide Ku-band Radio Frequency Sensors (KuRFS) and Coyote effectors. These systems are designed to detect and neutralize unmanned aircraft systems (UAS). The contract includes stationary and mobile systems and a specified quantity of effectors, all aimed at enhancing the Army’s operations within the US Central Command region.
Key Players-
The key companies offering anti-drone companies include RTX (US), Lockheed Martin Corporation (US), Leonardo S.p.A. (Italy), Thales (France), and IAI (Israel).
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About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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Artificial Intelligence
CluePoints Launches Medical & Safety Review (MSR) Software to Revolutionize Clinical Data Review
CluePoints furthers its commitment to delivering innovative solutions that enhance clinical trial efficiency with this latest addition to its enterprise software platform.
KING OF PRUSSIA, Pa., Sept. 27, 2024 /PRNewswire/ — CluePoints continues to transform clinical trial review and leverage its industry-leading software to enhance the interrogation, analysis and presentation of data with the launch of its latest application, Medical & Safety Review (MSR).
The tool simplifies and streamlines the medical analysis of study data through user-friendly dashboards, data manipulation and cleaning, query management and full transparency over the data history. This not only improves efficiency and communication in medical oversight, but also elevates patient safety, differentiating MSR as a smarter and unique solution.
Designed by, and for Medical and Safety Reviewers, MSR converts the manual analysis of patient outcomes, which can be prone to inefficiency and error, into an accurate, efficient process. MSR tackles time-consuming study preparation for specific visualizations by featuring a comprehensive standard visualization library as well as the ability to copy and reuse dashboards across different studies, enabling the identification of outlying values, change tracking, and improved communication for smarter clinical trials.
Other benefits of MSR include:
Enhanced medical review efficiency and reduced human errors via automated checksReduced time spent by clinical and data management teams in reviewing dataImproved collaboration with integrated review workflows across departmentsEnsured record quality and accountability with comprehensive change trackingDriving faster decision making with the proactive detection of trends and safety issuesEnsuring regulatory compliance with rule-based detection and user assignmentsAndy Cooper, Chief Executive Officer at CluePoints, commented, “We are thrilled to announce the launch of Medical & Safety Review to our growing product offerings. MSR is the latest application addition to the CluePoints platform, which includes products such as Risk-Based Quality Management (RBQM) and our Site Profile & Oversight Tool (SPOT). Together, they provide a comprehensive approach to clinical trial optimization, enhancing data integrity, ensuring regulatory compliance, and accelerating drug development. The creation of MSR ensures a more streamlined review process while prioritizing patient safety at every step and empowers medical teams to swiftly identify outliers, track data changes, and improve communication.”
To learn more about CluePoints’ award-winning solutions, please visit www.cluepoints.com
About CluePoints
CluePoints is the premier Risk-Based Quality Management (RBQM) and Data Quality Oversight Software provider. We are leveraging the potential of Artificial Intelligence using Advanced Statistics and Machine Learning to determine the quality, accuracy, and integrity of clinical trial data both during and after study conduct. Aligned with guidance from the FDA, EMA, and ICH E6 (R2), CluePoints is deployed to support central and on-site monitoring, medical review, quality risk management and to drive a holistic Risk-Based strategy in all trials. Coupled with thought leadership and consulting expertise to aid pre-study risk assessment, identification of risk controls and solution implementation, you now have everything you need to adhere with global regulatory guidance. The result is positive clinical development outcomes, increased operational efficiency, lower costs and reduced regulatory submission risk as part of the industry paradigm shift to RBQM.
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