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Cyber Security Market Exhibits 13.4% CAGR to Hit USD 376.32 Billion by 2029

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Pune, India, March 02, 2023 (GLOBE NEWSWIRE) — The global cyber security market size was USD 139.77 billion in 2021 and is projected to grow from USD 155.83 billion in 2022 to USD 376.32 billion by 2029, exhibiting a CAGR of 13.4% during the 2022-2029 period. Rising Number of E-commerce Platforms to Drive the Market Growth Fortune Business Insights, provide this information in its report titled, “Cyber Security Market Forecast, 2023-2029.”

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Key Industry Developments:

GE Healthcare introduced an AI-based network security service to connect AI, medical devices, and process management tools and help hospitals to evade It threats.

To expedite DevSecOps, Fortinet, Inc. purchased application security innovator Skenai. Sken.ai offers comprehensive testing for all major languages and frameworks, as well as all types of scans (SAST, DAST, SCA, Secrets, and more). Machine learning (ML) is used by Sken.ai to correlate and assign a security risk level to each vulnerability discovered across multiple scan kinds and apps.

Report Scope & Segmentation

Report Coverage Details
Forecast Period 2022 to 2029
Forecast Period 2022 to 2029 CAGR 13.4%
2029 Value Projection USD 376.32 Billion
Base Year 2021
Cyber Security Market Size in 2021 USD 139.77 Billion
Historical Data for 2018 to 2020
No. of Pages 160
Segments covered Component, Deployment Type, Enterprise Size Industry, and Geography
Cyber Security Market Growth Drivers Market Growth will be driven by the Increasing Number of E-Commerce Platforms

Key Takeaways

  • The demand for cybersecurity solutions in healthcare, manufacturing, and government has grown exponentially during the pandemic crisis.
  • Integration of Technologies such as the IoT, Machine Learning, and Cloud to Drive the Growth
  • Deployment Type Analysis: Rising Popularity of Cybersecurity Solutions with Enhanced Storage Capability to Drive the Market Growth
  • Cyber Security Market Size in North America was USD 62.41 Billion in 2020
  • The growing investment by end-users and the high demand for enterprise security solutions boost the adoption of security solutions.


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https://www.fortunebusinessinsights.com/industry-reports/cyber-security-market-101165

Drivers & Restraints-

Growth of the market is anticipated to be propelled by the increasing number of e-commerce platforms.

The emergence of artificial intelligence, cloud technology, and blockchain has led to a strengthening of internet security solutions in connected network infrastructure. E-commerce businesses are now focusing on integrating network security solutions into their electronic and IT security systems. As a result, the adoption of these technologies to combat cyber-attacks is on the rise, leading to an expansion in the demand for network security solutions. However, the global cyber security market growth may face impediments due to the escalating number of internet security threats, which has resulted in a significant surge in demand for innovative solutions.

Regional Insights-

North America is expected to be at the forefront of the global cybersecurity market.

The North America cyber security market was valued at USD 62.41 billion in 2020 and is expected to grow due to the rise in high-profile security breaches in the region. Cloud application security solutions are becoming increasingly popular as businesses look for ways to better protect themselves. In countries such as the U.S. and Canada, the growing number of online e-commerce platforms is also driving market growth. The government is using advanced network security protocols to provide better security measures to businesses.

In Europe, the cybersecurity industry is expected to see significant growth, with a compound annual growth rate (CAGR) forecasted to increase. Large firms in the United Kingdom, Spain, Germany, Italy, France, and other countries are investing in internet security projects, driving expansion in the industry. Key providers are also installing advanced IT security solutions to protect highly sensitive information related to manufacturing operations, while also increasing productivity.

Asia Pacific is expected to increase at an exponential rate. Countries such as China, India, and Korea are expected to grow at a rapid pace. The increase is due to an increase in the number of service providers as well as increased government and international investor investments in various security projects. According to research published by the internet security firm Symantec Corporation, India was ranked among the top ten countries in the world for combating secure web gateway crimes in 2019.

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Segmentation-

The global cybersecurity market is categorized by deployment type, enterprise size, industry, components, and geography. The deployment type segment is divided into on-premises and cloud solutions, while the enterprise size segment includes Small and Medium Enterprises (SMEs) and Large Enterprises. The industry segment comprises BFSI, IT and Telecommunications, retail, healthcare, government, manufacturing, travel and transportation, energy and utilities, and others.

In terms of components, the cybersecurity industry is segmented into solutions such as network security, cloud application security, end-point security, secure web gateway, application security, and others. Additionally, the market is classified geographically into South America, North America, Asia Pacific, Europe, the Middle East & Africa.

Competitive Landscape-

The key players emphasize developing advanced security solutions with the incorporation of emerging technologies. The vital players functioning in the market focus on organic development strategies such as extensive research and development activities for making technological advancements and introducing new security solutions to the market. Additional tactics include collaborations, partnerships, procurements, and so on, to enhance market presence. For instance, Check Point Software Technologies announced the acquisition of Cymplify in 2019 to integrate the former company’s IoT solutions.

Companies Covered in the Cyber Security Market Report:

  • Cisco Systems, Inc. (U.S.)
  • IBM Corporation (U.S.)
  • Fortinet, Inc. (U.S.)
  • Proofpoint, Inc. (U.S.)
  • Microsoft Corporation (U.S.)
  • Palo Alto Networks, Inc. (U.S.)
  • Zscaler, Inc. (U.S.)
  • Broadcom, Inc. (U.S.)
  • F5 Networks, Inc. (U.S.)
  • Check Point Software Technologies (Israel)
  • Sophos Ltd. (U.K.)

Quick Buy – Cyber Security Market Research Report

https://www.fortunebusinessinsights.com/checkout-page/101165

Major Table of Contents:

  • Global Cyber Security Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
    • Key Findings
    • By Component (USD)
      • Solution
      • Services
    • By Deployment (USD)
      • On-premise
      • Cloud
    • By Enterprise Size (USD)
      • SME’s
      • Large Enterprises
    • By Industry(USD)
      • BFSI
      • IT & Telecom
      • Retail
      • Healthcare
      • Government
      • Manufacturing
      • Travel & Transportation
      • Energy and Utilities
      • Others
    • By Region (USD)
      • North America
      • South America
      • Europe
      • Middle East & Africa
      • Asia Pacific
  • North America Cyber Security Market Size Estimates and Forecasts, By Segments, 2018-2029
    • By Component (USD)
      • Solution
      • Services
    • By Deployment (USD)
      • On-premise
      • Cloud
    • By Enterprise Size (USD)
      • SME’s
      • Large Enterprises
    • By Industry(USD)
      • BFSI
      • IT & Telecom
      • Retail
      • Healthcare
      • Government
      • Manufacturing
      • Travel & Transportation
      • Energy and Utilities
      • Others
    • By Country (USD)
      • United States (By Industry)
      • Canada (By Industry)
      • Mexico (By Industry)
  • South America Cyber Security Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
    • By Component (USD)
      • Solution
      • Services
    • By Deployment (USD)
      • On-premise
      • Cloud
    • By Enterprise Size (USD)
      • SME’s
      • Large Enterprises
    • By Industry(USD)
      • BFSI
      • IT & Telecom
      • Retail
      • Healthcare
      • Government
      • Manufacturing
      • Travel & Transportation
      • Energy and Utilities
      • Others
    • By Country (USD)
      • Brazil (By Industry)
      • Argentina (By Industry)
      • Rest of Latin America

TOC Continued…

FAQ’s

What is the size of the cybersecurity market?

The global Cyber Security Market size is projected to generate USD 376.32 billion by 2029

What is the market growth for cyber security?

The size of the global cyber security market is anticipated to increase throughout the forecast period at a CAGR of 13.4%.

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Cloud Security Market Size, Share, Forecast & Trends 2023-2029

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Cloud Computing Market Size, Share, Growth and Report Analysis

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Artificial Intelligence

Bitrue expands Bitcoin Runes Offerings with GPTV Listing and Staking Options

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VICTORIA, Seychelles, May 3, 2024 /PRNewswire/ — Leading digital asset exchange Bitrue continues its community-driven approach with the listing of a new Bitcoin Runes token, GPTV•AI•PEPE•KING (GPTV). This follows the recent addition of several other Bitcoin Runes tokens to the platform, including SATOSHI•NAKAMOTO (SATOSHI), LOBO•THE•WOLF•PUP (LOBO), RSIC•GENESIS•RUNE (RSIC), and DOG•GO•TO•THE•MOON (DOG). Trading for the GPTV/USDT pair commenced on April 30th, 2024.

What is GPTV?
GPTV is the native token of AI PEPE KING, a project claiming to be the “largest AI Meme Community” with a presence on both the Polygon (AIPEPE) and Bitcoin Runes (GPTV) blockchains. Notably, AI PEPE KING secured a $10 million investment to develop AI-powered customer service tools leveraging the ChatGPT technology. Additionally, they are building a “Dream Lottery” system. Revenue generated from these products is earmarked for buybacks and burns of both AIPEPE and GPTV tokens, potentially influencing their long-term value.
Staking Opportunities with Attractive Yields
Bitrue is also offering users staking opportunities for those holding BTR, AIPEPE, RSIC, or DOG tokens. By staking their holdings, users can earn rewards in GPTV, with estimated annual percentage yield (APY) varying on the staked token, with BTR offering 22.15%, AIPEPE at 23.18%, RSIC boasting a higher 31.37%, and DOG coming in at 23.62%. These yields present a potentially lucrative opportunity for users to grow their cryptocurrency holdings, but also come with financial risk and the potential for investment to return much lower yields.
Bitrue’s Focus on Community Engagement
The listing of these Bitcoin Runes tokens is a testament to Bitrue’s commitment to its user base. The decision to add these tokens stemmed from a community poll conducted through an X poll on Bitrue’s X account. This highlights the exchange’s dedication to incorporating community feedback into its decision-making process, fostering a sense of collaboration and shared interest.
With the addition of GPTV and the introduction of staking opportunities, Bitrue continues to expand its offerings for users interested in the burgeoning world of Bitcoin Runes tokens. The exchange’s focus on community engagement further strengthens its position as a platform that prioritizes user input and satisfaction.
About Bitrue
Launched in July 2018, Bitrue is a diversified digital asset exchange that supports trading, loans and investments. Bitrue aims to utilize blockchain technology to bring financial opportunities to everybody regardless of their location or financial position. With offices in Asia and Europe, the business continues to develop new features at a rapid speed to fully service the new wave of the digital economy. More information is available at Bitrue’s website.
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5G Enterprise Market Projected to Reach $115.81 billion by 2030 – Exclusive Report by 360iResearch

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PUNE, India, May 2, 2024 /PRNewswire/ — The report titled “5G Enterprise Market by Equipment (Distributed Antenna System, Radio Node, Service Node), Organization Size (Large Enterprises, SMEs), End User – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $17.30 billion in 2023 to reach $115.81 billion by 2030, at a CAGR of 31.20% over the forecast period.

 
“The Pivotal Role of 5G Technology in Enterprise Evolution”
The advent of 5G technology marks a transformative era for businesses worldwide, offering exceptional speed, reduced latency, and enhanced connectivity that promise to elevate operational efficiency and digital innovation across various sectors. From enabling precise real-time monitoring and predictive maintenance in manufacturing to advancing telemedicine and seamless data collaborations in healthcare, 5G stands as a cornerstone for future advancements. Its pivotal role is revolutionizing transportation by supporting autonomous vehicles and smart infrastructure, significantly elevating safety and efficiency. The surge in 5G enterprise adoption is fueled by the growing need for robust and swift network connections to accommodate an increasing array of Internet of Things (IoT) devices and applications. Challenges include the substantial upfront costs associated with 5G infrastructure and concerns over data security. The potential for 5G to spur innovation is immense, mainly through the development of 5G-as-a-Service (5GaaS) and its synergy with cutting-edge technologies such as edge computing and artificial intelligence. Regionally, North America is major in adoption, supported by significant telecom investments, while the European Union’s concerted efforts bolster 5G integration across industries. The Middle East’s ambitions to become a significant region globally in 5G through smart city and industrial automation investments distinguish it. In contrast, the APAC region’s rapid growth is supported by early adoption and extensive government support, particularly in South Korea, China, and Japan. Thus, 5G is set to redefine enterprise operations, driving innovation and enabling smart solutions globally, heralding a new chapter in digital transformation for industries worldwide.
Download Sample Report @ https://www.360iresearch.com/library/intelligence/5g-enterprise
“5G’s Role in Advancing Industry 4.0 and Digital Innovations”
In today’s fast-evolving digital age, the seamless integration of cutting-edge technologies such as artificial intelligence (AI), the Internet of Things (IoT), and blockchain into everyday business operations is becoming increasingly crucial. This integration is driving a significant surge in the need for uninterrupted, high-speed network coverage across various sectors. As technologies become more affordable and their performance enhanced, their adoption in both private and public sectors is witnessing a remarkable increase, paving the way for innovative payment solutions and digital currencies. This transformation reshapes diverse commercial landscapes, including entertainment, journalism, advertising, and retail. Consequently, the demand for 5G connectivity is escalating, recognized for its capability to deliver speeds of 15 to 20 Gbps, connect a vast array of devices, and facilitate the creation of virtual networks tailored to specific needs. Moreover, as Industry 4.0 propels manufacturing into the digital era with its emphasis on automation and digital technologies, the role of 5G in supporting these advancements becomes indispensable. By enabling faster connectivity for AI, data analytics, IoT, blockchain, and machine learning applications, 5G is at the forefront of improving operational efficiency and flexibility in the manufacturing sector, setting the stage for the exponential growth of the 5G enterprise market.
“The Integral Role of Radio Nodes, DAS, and Service Nodes in Enhancing 5G Networks”
In the rapidly evolving world of 5G networks, the harmonious functioning of radio nodes, distributed antenna systems (DAS), and service nodes plays a pivotal role in ensuring uninterrupted, high-speed connectivity across diverse environments. Radio nodes, vital for facilitating direct communication between devices, including smartphones and tablets, ensure the seamless execution of critical radio functions such as modulation and demodulation. They shine especially in areas where a robust, reliable connection is paramount, catering to the needs of densely populated zones. DAS is used in complexes such as stadiums and large buildings, working behind the scenes to boost wireless coverage through a network of strategically placed antenna nodes. This ensures that every corner is connected, enhancing user experience in challenging architectural layouts. Meanwhile, service nodes are the backbone of network management, orchestrating essential functions, including user authentication and mobility management, enabling smooth delivery of services throughout the 5G ecosystem. These components overcome physical and technological hurdles and lay down the infrastructure critical for delivering the next generation of wireless connectivity.
Request Analyst Support @ https://www.360iresearch.com/library/intelligence/5g-enterprise
“Telefonaktiebolaget LM Ericsson at the Forefront of 5G Enterprise Market with a Strong 16.19% Market Share”
The key players in the 5G Enterprise Market include Huawei Technologies Co., Ltd., Deutsche Telekom AG, Nokia Corporation, Telefonaktiebolaget LM Ericsson, AT&T Inc., and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the 5G Enterprise Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the 5G Enterprise Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive 5G Enterprise Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
Ask Question to ThinkMi @ https://app.360iresearch.com/library/intelligence/5g-enterprise
“Dive into the 5G Enterprise Market Landscape: Explore 181 Pages of Insights, 298 Tables, and 22 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket Insights5G Enterprise Market, by Equipment5G Enterprise Market, by Organization Size5G Enterprise Market, by End UserAmericas 5G Enterprise MarketAsia-Pacific 5G Enterprise MarketEurope, Middle East & Africa 5G Enterprise MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/5g-enterprise
Related Reports:
5G Non-Terrestrial Network Market – Global Forecast 2024-20305G in Defense Market – Global Forecast 2024-20305G Satellite Communication Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
Contact 360iResearchMr. Ketan Rohom360iResearch Private Limited,Office No. 519, Nyati Empress,Opposite Phoenix Market City,Vimannagar, Pune, Maharashtra,India – 411014.Email: [email protected]: +1-530-264-8485India: +91-922-607-7550
To learn more, visit 360iresearch.com or follow us on LinkedIn, Twitter, and Facebook.
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SimSpace Welcomes Matt Knutsen as New Chief Revenue Officer to Spearhead Expansion Plan

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SimSpace strengthens their leadership team, appointing Knutsen to drive revenue growth for the company as it expands further into the public sector 
BOSTON, May 2, 2024 /PRNewswire/ — SimSpace, the US-based industry leader in AI-Powered cyber ranges, announced today the appointment of Matt Knutsen as its new Chief Revenue Officer (CRO). Matt will champion SimSpace’s global sales and revenue growth strategy. He will drive expansion initiatives and foster strategic partnerships to stress test businesses’ and state agencies’ people, processes and technologies against the most advanced adversaries.

With more than 20 years of experience in the field, Matt most recently held the position of CRO at cyber training provider Immersive Labs, where he increased revenue growth by over 4000% and attracted over $180M in investment. He also launched the company into new markets, expanding the team across Australia, Europe, the Middle East, New Zealand and the US. The combination of Matt’s wealth of experience and his in-depth industry knowledge make him well-equipped to lead SimSpace’s next phase of growth.
As nation-state attacks rise in frequency, and AI drives a new wave of severe cyberattacks, companies also have to navigate uncertain economic conditions. SimSpace empowers organizations to cut unnecessary spending through stack optimization, allowing CISOs to maximize their ROI and effectiveness of their technology stack. Knutsen’s influence in the field will propel the SimSpace Platform to new heights, advancing access for companies and governments that need to optimize their cybersecurity defenses and safeguard their critical infrastructure from an increasingly volatile threat landscape.
Matt Knutsen is the most recent addition to SimSpace’s Executive Leadership Team, following Clint Sand’s appointment as Chief Product Officer in February 2024. His appointment underscores SimSpace’s continued growth trajectory, headed by the $45M they secured in funding from L2 Point Management, bringing the total capital raised over the past year to $70M. The company has also bolstered their presence in the public sector, marked by their recent partnership with Carahsoft and their multi-year contract with Florida to enhance the state’s cybersecurity preparedness. SimSpace’s high fidelity cyber ranges and simulations will enable state agencies and programs like Cyber Florida to rehearse and respond to cyberattacks.  
Commenting on Matt’s arrival, SimSpace CEO William Hutchison said, “Matt is a seasoned executive, who has accumulated years of knowledge on cybersecurity best practices and established himself as a leading authority in cyber range exercises. His industry influence, strategic vision and conviction in the importance of cybersecurity preparedness will shape the future success of the company at this crucial time of expansion. With Matt leading our revenue organization, we have full confidence in our capacity to deepen our valued partnerships and build strong, new connections which will further elevate SimSpace’s position as a trusted cybersecurity partner.”
Matt Knutsen, Chief Revenue Officer commented, “I’m looking forward to bringing a proactive approach to cybersecurity risk management to even more private and public sector organizations. I’ve already been impressed by SimSpace’s high-fidelity cyber range simulations, both on and off premise. It’s a great time to be joining the company and I’m excited to build upon SimSpace’s recent rapid growth with even more partnerships.”
About SimSpace
SimSpace is the global leader in AI-Powered cyber ranges, founded by experts from U.S. Cyber Command and MIT’s Lincoln Laboratory to respond to a new era of unprecedented cyber threats. Having raised nearly $70 million in funding over the past year, the company’s Platform enables the most sophisticated enterprises, governments, and critical national infrastructure organizations to find intelligence-driven answers to the most vexing security, governance, training, and cyber readiness questions. SimSpace provides high-fidelity cybersecurity simulations, training, and safe live-fire exercises to Fortune 2000 financial, retail, insurance, and other commercial markets. SimSpace’s Platform results in an average reduction in cyber operational costs of 30% and a 40% reduction in breaches. 
For more information, please visit: www.SimSpace.com.

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