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Cyber Security Market to Reach $500.70 Billion by 2030: Grand View Research, Inc.

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SAN FRANCISCO, July 3, 2023 /PRNewswire/ — The global cyber security market size is projected to reach USD 500.70 billion by 2030, registering a CAGR of 12.3% from 2023 to 2030, according to a new study by Grand View Research Inc. The rise in the number of cyber-attacks during the pandemic kept the cyber security solutions’ demand upbeat in 2020. The trend is expected to continue post-pandemic and over the forecast period owing to several firms adopting hybrid working and BYOD trends resulting in an increase in the number of endpoint devices and anonymous network access, putting the organization’s IT systems at risk.
Key Industry Insights & Findings from the report:
In hardware segment is expected to exhibit a high growth rate of more than 12% over the forecast period owing to the deployment and upgradation of new hardware for supporting advanced cyber security solutions.In terms of infrastructure protection, the cloud security segment held the highest revenue share of more than 25% in 2022. Critical infrastructure programs introduced by governments worldwide are expected to drive the growth of this segment.The IDS/IPS segment is expected to register the highest growth of more than 10% over the forecast period. The increasing need for real-time threat detection across unknown networks is anticipated to fuel the market growth.The managed services segment is expected to grow at highest growth rate owing to increasing number of organizations outsourcing IT security services such as consultation, implementation, and maintenance.The on-premises segment accounted for highest market share of more than 60% in 2022. The high share is attributed to the preference for on-premises solutions by large organizations to maintain confidentiality of their business information.Large enterprises held a high market share of more than 60% in 2022 owing to increased spending on IT security solutions to secure large number of end point devices and IT infrastructure equipment.The government/defence segment accounted for more than 20% of the overall market in 2022. The high share is attributed to and growing investments by governments worldwide to strengthen defences against cyber-attacks.Asia Pacific is expected to register the fastest growth over the forecast period owing to a large number of end point devices and the increasing number of data center constructions.Read full market research report, “Cyber Security Market Size, Share & Trends Analysis Report By Component, By Security Type, By Solution, By Services, By Deployment, By Organization Size, By Applications, By Region, And Segment Forecasts, 2023 – 2030”, published by Grand View Research.
Cyber Security Market Growth & Trends
The introduction of advanced cyber security solutions, increasing cost of data breaches, emerging enterprise mobility trends, and stringent government regulations are some of the factors expected to drive the market growth. The evolving cyber threat landscape requires sophisticated cyber security solutions that facilitate real-time threat detection and response while also helping in cutting down data breach costs. Further, several governments worldwide have introduced data protection laws, compelling end-user organizations to deploy cyber security solutions to safeguard consumer data.
The market is anticipated to face challenges related to a lack of skilled IT workforce and usage of unlicensed cyber security software, which is expected to hamper the market growth. The high cost of cyber security solutions compels several SMEs to deploy unlicensed solutions, which do offer protection but are largely ineffective against new threats and are often accompanied by trojan, viruses, worms, adware, and spyware, which may put the organizations’ security at risk. Further, cyber security vendors are engaged in developing advanced cyber security solutions with ML and AI technologies, but several organizations face an acute shortage of skilled workforce to keep up with cyber security trends and deploy cutting-edge solutions.
Cyber Security Market Report Scope
Report Attribute
Details
Market size value in 2023
USD 222.66 billion
Revenue forecast in 2030
USD 500.70 billion
Growth rate
CAGR of 12.3% from 2023 to 2030
Base year for estimation
2022
Historical data
2018 – 2021
Forecast period
2023 – 2030
 
Cyber Security Market Segmentation
Grand View Research has segmented the cyber security market report based on component, security type, solution, services, deployment, organization size, application, and region
Cyber Security Market – Component Outlook (Revenue; USD Million; 2018 – 2030)
HardwareSoftwareServicesCyber Security Market – Type Outlook (Revenue; USD Million; 2018 – 2030)
Endpoint SecurityCloud SecurityNetwork SecurityApplication SecurityInfrastructure ProtectionData SecurityOthersCyber Security Market – Solution Outlook (Revenue; USD Million; 2018 – 2030)
Unified Threat Management (UTM)IDS/IPSDLPIAMSIEMDDoSRisk and Compliance ManagementOthersCyber Security Market – Services Outlook (Revenue; USD Million; 2018 – 2030)
Professional ServicesManaged ServicesCyber Security Market – Deployment Outlook (Revenue; USD Million; 2018 – 2030)
Cloud-basedOn-premisesCyber Security Market – Organization Size Outlook (Revenue; USD Million; 2018 – 2030)
SMEsLarge EnterprisesCyber Security Market – Application Outlook (Revenue; USD Million; 2018 – 2030)
IT & TelecomRetailBFSIHealthcareDefence/ GovernmentManufacturingEnergyOthersCyber Security Market – Regional Outlook (Revenue; USD Million; 2018 – 2030)
North AmericaU.S.CanadaEuropeU.K.GermanyRest of EuropeAsia PacificIndiaChinaJapanRest of Asia PacificLatin AmericaBrazilMexicoRest of Latin AmericaMiddle East & Africa (MEA)List of Key Players In Cyber Security Market
Cisco Systems, Inc.Palo Alto NetworksMcAfee, Inc.BroadcomTrend Micro IncorporatedCrowdStrikeCheck Point Software Technology Ltd.Check out more related studies published by Grand View Research:
IT & Telecom Cyber Security Market – The global IT & telecom cyber security market size is expected to reach USD 82.64 billion by 2030, expanding at a CAGR of 12.1% from 2022 to 2030 according to a study conducted by Grand View Research, Inc. Expansion of telecom networks, emerging BYOD trend, and the emergence of 5G technology are anticipated to increase the network traffic and create loopholes, thereby increasing the risk of cyber-attacks. Additionally, IT & telecom companies are increasing investments in deploying advanced cyber security solutions to tackle the varied nature of threats and keep up with the evolving threat landscape.Artificial Intelligence In Cybersecurity Market – The global artificial intelligence in cybersecurity market size is estimated to reach USD 93.75 billion by 2030, expanding at a CAGR of 24.3% from 2022 to 2030, according to a new study by Grand View Research, Inc. An unprecedented spike in cyber incidents has fostered the demand for AI, cloud, and machine learning for seamless operations, data safety and prompt response to cyber threats. Some factors, such as soaring internet penetration, expanding footfall of connected devices, and escalating data protection concerns, have triggered the need for advanced cybersecurity solutions.Zero Trust Security Market – The global zero trust security market size is anticipated to reach USD 82.45 billion by 2030, growing at a CAGR of 16.6% from 2023 to 2030, according to a recent study by Grand View Research, Inc. The growing sophistication of cyber threats and their negative impact on an organization’s operational activity have compelled several policymakers, governments, and authorities to implement and form regulations. Currently, more than 120 countries have implemented some form of privacy laws for data protection. This is to promote data security and support consumers in ensuring that data is stored in a secured infrastructure.Browse through Grand View Research’s Next Generation Technologies Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:Sherry JamesCorporate Sales Specialist, USAGrand View Research, Inc.Phone: 1-415-349-0058Toll Free: 1-888-202-9519Email: [email protected]: https://www.grandviewresearch.comGrand View Compass | Pipeline ConsultingFollow Us: LinkedIn | Twitter
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New Electric Mountain Bike Player Amflow Enters Market, unveiling its Revolutionary First Bike powered by DJI Avinox at Eurobike 2024

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Passionate Bikers and Tech Experts unite to combine a powerful and compact e-bike system into an ultra-light build, the Amflow PL
FRANKFURT, Germany, July 3, 2024 /PRNewswire/ — Amflow, the eMTB expert that builds e-bikes from heart to body, today marks its entry into the industry with the launch of the Amflow PL. Providing a significantly robust 850 W of peak power and weighing in at an industry leading level of ultra-light 19.2kg1, the Amflow PL provides riders with an unmatched combination of power, range, and performance, hidden in a sleek electric mountain bike appearance.

 
“As engineers with a passion for mountain biking, we have seen a lot of tech innovation that has never found its way into the eMTB scene,” said Peter Archer, Amflow Senior Product Specialist at Amflow. “We have married our tech expertise with our passion and today we’re introducing Amflow to the mountain biking community with our very first product, the Amflow PL. We believe this is a significant moment for the eMTB industry with innovative technology and ultra-light material combining to turn any terrain into a wonderland of possibilities for eMTB riders.”
Ultra-light Frame, Organic Design
The Amflow PL is a full-power eMTB with a stunningly lightweight body. The ultra-light carbon fibre frame weighs just 2.27kg1 and has been designed and expertly-crafted to deliver the ultimate ride, wherever the rider is headed.
Tackle Terrain with Confidence
At the heart of the Amflow PL is the DJI Avinox Drive System incorporating multiple cutting-edge technologies in both software and hardware design. The drive unit features a compound planetary gearset, providing industry-leading power-to-size ratio, with 105 Nm torque and peak power output of 850 W (nominal power output of 250 W) from a drive unit weighing just 2.52kg1.
The high-strength polymer gears inside the drive unit effectively suppress noise during high-speed gearbox operation. With multiple high-precision sensors built-in, combined with DJI’s advanced algorithms, it provides a strong and smooth assistance experience across a wide range of scenarios and conditions.
Preference Matching Assistance
In addition to traditional assistance modes, the DJI Avinox Drive System also features a specialized Auto mode, which adapts assistance in real-time based on road conditions and riding position1.  Once enabled, Auto mode empowers users to tackle a wide variety of terrain types and gradients without having to switch modes.
For the most challenging trails, Boost mode can be activated to instantly receive 120 Nm of torque and 1000 W high-power assistance1, enabling steep inclines to be tackled with ease.
Furthermore, Amflow PL has Walk mode which features intelligent walk assistance for easy incline traversing, Auto Hold to prevent rollback on slopes, and Hill Start Assist for additional torque to get riders started on inclines. It also allows stationary gear-shifting for a smooth and intuitive experience.
Fast Charging, High-Capacity Battery Offers Extended Range
The Avinox system’s battery weighs just 2.87kg1 and boasts an ultra-high energy density, ensuring an uncompromised range.
For those wanting to get back out there as soon as possible, a compact and convenient 12A/508W GaN fast charger1 is capable of charging the battery from 0% to 75% in just 1.5 hours1.
When it comes to battery life; real-time monitoring, self-discharge, active voltage reduction, and abnormality alerts, all feed into the battery health management system to create a durable and reliable battery that still maintains at least 80% capacity after 500 charge-discharge cycles1.
Agile and Responsive with Cutting-edge Geometry
The Amflow PL’s all-around frame design features cutting-edge geometry, offering balanced performance that’s both lightweight and hyper-agile. This stable yet agile handling empowers riders to easily take on rugged trails and more technical rides.
For those looking to adapt the wheel size to their needs, the Amflow PL frame structure is compatible with both 27.5″ and 29″ rear wheels1.  So, whether looking for a smoother ride with larger wheels or agility with smaller ones, a simple adjustment of the flip chip will allow for either size to be fitted without altering the frame’s geometric center of gravity.
Optimized Ride Efficiency
Featuring a four-bar linkage structure, the Amflow PL significantly reduces pedal kickback while greatly improving pedaling efficiency, ensuring that every pedal stroke counts.
Superior Suspension
The rear shock, co-tuned with FOX, offers a sensitive initial stroke response to effectively filter out minor vibrations. It also provides powerful end-stroke support to prevent bottom-outs during continuous high-speed impacts or steep descents, enabling riders to fully enjoy every off-road adventure.
Danny Tien, Asia Sales Manager at FOX said: “FOX has always been dedicated to pursuing better, which mirrors Amflow’s passion to create the ultimate riding experience. During our collaboration process, we were impressed by the enthusiasm and professionalism of the Amflow team. Whether as a business partner or an experienced bike user, we are excited to witness the birth of Amflow PL, an all-round electric mountain bike. The excellent handling experience brought by its ultra-lightweight and cutting-edge design cements our belief that the presence of Amflow will allow more cycling enthusiasts to enjoy the thrill of electric mountain biking.”
 Control at Your Fingertips
At the core of the DJI Avinox system is a 2″ full-color OLED touchscreen control display which is integrated directly into the frame of the Amflow PL. Riders are presented with a wealth of information including real-time riding data, estimated range and the ability to adjust the setup with just a swipe.
Even greater control can be gained by Bluetooth-enabled Wireless Controllers that connect wirelessly to the control display. Mode switches can be made while riding.
When connected to the Avinox App riders have access to;
Customizable Parameters: Parameters of riding modes can be quickly customized to adjust power, torque and cadence, according to riding habits.Anti-theft Mode1: A password-protected anti-theft mode will sound an alarm and the app will send a notification, if unauthorized movement of the eMTB is detected.Remote Locating: The bike’s real-time location can easily be checked.Comprehensive Data Recording, Easy Metric Sharing
With the control display or the Avinox app, riders can review rich data like speeds, range, cadence, power, torque, gradient, altitude, calories burned, ride times, heart rate, and more. This data can also be easily synced with third-party apps such as Strava to share with friends and the eMTB community. 
Thoroughly Tested for Optimum Reliability
Riders of the Amflow PL bike and users of the DJI Avinox Drive System components can be assured of the quality of the products as they have been certified by authoritative organizations such as TÜV SÜD, UL Solutions, and TÜV Rheinland1.
Additionally, Amflow has established a testing platform to conduct a wide variety of reliability tests for frame strength, waterproofing, and long-distance transportation under real-world riding conditions. This ensures product stability and safety in extreme environments, delivering comprehensive quality assurance.
Availability
Amflow products are estimated to be available by Q4 2024 through authorized dealers in Germany, the UK and Australia amongst others. This global service network provides customers with timely, efficient, and professional services, continuously safeguarding product quality.
For more information about Amflow and Amflow PL, please visit: https://www.amflowbikes.com/pl-carbon
About AmflowProudly born in 2023, Amflow is the creation of tech experts with a limitless passion for riding mountain bikes. The company strives to amaze with an unmatched combination of power, range, and performance, hidden in sleek electric mountain bike bodies. Amflow’s commitment to the e-bike industry is to make its e-mountain bikes the go-to for all e-bike riders looking to turn any terrain into a wonderland of possibilities. 
About DJISince 2006, DJI has led the world with civilian drone innovations that have empowered individuals to take flight for the first time, visionaries to turn their imagination into reality, and professionals to transform their work entirely. Today, DJI serves to build a better world by continuously promoting human advancement. With a solution-oriented mindset and genuine curiosity, DJI has expanded its ambitions into areas such as cycling, renewable energy, agriculture, public safety, surveying and mapping, and infrastructure inspection. In every application, DJI products deliver experiences that add value to lives around the world in more profound ways than ever before.
For more information, visit our:Website: https://www.amflowbikes.comFacebook: https://www.facebook.com/amflowbikes/Instagram: https://www.instagram.com/amflowbikesSubscribe to our YouTube Channel: https://www.youtube.com/@amflowbikes
1 All data was tested in controlled conditions. Actual experience may vary. For more details, please refer to the product page on the official Amflow website.
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Cell Impact adds sealing as a new part of production process

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KARLSKOGA, Sweden, July 3, 2024 /PRNewswire/ — Cell Impact continues to develop its production process to better meet customer demand. The latest addition to the company’s production process is the opportunity to seal bipolar flow plates through dispersion.

Sealing is a critical part of the assembly of bipolar flow plates for fuel cells and electrolyzers.
“Together with our customers, we have evaluated various sealing processes over the past years with the ambition of adding this process to our production. Now, we are taking further steps to offer our customers a complete bipolar plate, ready to be assembled directly into their fuel cell and electrolysis stacks,” says Marcus Nilsson, Sales and Program Manager at Cell Impact.
Dispensing is one of the most popular sealing solutions used in the industry today.
“Dispensing offers both high precision and process flexibility and is thus suitable for our customers’ prototype and serial production products,” concludes Marcus Nilsson.
About Cell Impact
Cell Impact AB (publ) is a global supplier of advanced flow plates to fuel cell and electrolyzer manufacturers. The company has developed and patented a unique method for high velocity forming, Cell Impact Forming™ which is significantly more scalable and cost-efficient compared to conventional forming methods. Cell Impact Forming is an environmentally friendly forming technology that consumes no water and very little electrical power.
The Cell Impact share is listed on Nasdaq First North Growth Market and FNCA Sweden AB is the company’s Certified Advisor (CA).
For more information, please contact:
Daniel VallinCEO and IR contact, Cell Impact AB (publ)+46730686620 or [email protected]

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Flytxt included in the 2024 Gartner® Magic Quadrant™ for AI in CSP Customer and Business Operations

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DUBAI, UAE and MUMBAI, India, July 3, 2024 /PRNewswire/ — Flytxt, a leading provider of AI SaaS solutions that maximise Customer Lifetime Value (CLTV) for subscription businesses, announced its inclusion as a niche player in the Gartner Magic Quadrant for AI for CSP Customer and Business Operations report.

Flytxt believes that inclusion in the report reflects their expertise in providing market-proven CLTV maximisation solutions for CSPs leveraging their specialised AI, which is developed and refined over 12 years, and trained with trillions of data points from the Industry.  The rapidly deployable AI SaaS solutions help CSPs optimise decisions and actions across customer engagement contexts, such as in marketing, customer care or product management, to drive better business outcomes. 
“We’re delighted to be included in the Gartner Magic Quadrant for AI in CSPs Customer and Business Operations report. We chose a productised approach to delivering AI solutions, driven by our vision that an AI that continuously learns from different customer engagement contexts and markets delivers vastly improved accuracy and faster ROI to clients” said, Dr. Vinod Vasudevan, CEO of Flytxt.
“Our AI solutions empower CSPs to gain deeper insights into product usage and customer behaviour throughout their lifecycle, helping them optimise opportunities to maximise customer and product lifetime value. They can review and refine existing product catalogs, launch new products and offers, predict future actions or needs of customers, improve digital adoption and retention, and enhance marketing and care efficiency, all leading to tangible business outcomes” he added. 
The efficiently-trained and ready-to-deploy AI for CX solutions from Flytxt offers superior accuracy, efficiency, user trust, and faster time to value compared to generic or custom AI solutions. Today, more than 75 CSP’s leverage Flytxt’s solutions to improve their customer experience journeys and maximise customer lifetime value. 
For more information about Flytxt and its CLTV maximization solutions, please visit www.flytxt.com.
Gartner, Magic Quadrant for AI in CSP Customer and Business Operations, By Pulkit Pandey, Amresh Nandan, Peter Liu, 4 June 2024.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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