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Cybersecurity Market worth $298.5 billion by 2028 – Exclusive Report by MarketsandMarkets™

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CHICAGO, Jan. 30, 2024 /PRNewswire/ — Cyber threats are always changing, and the market for cybersecurity is being driven by these factors as well as digital transformation projects, regulatory compliance, AI and ML integration, Zero Trust security, IAM emphasis, cloud-native solutions, threat intelligence sharing, and the convergence of IT and OT security. In order to meet the complex cybersecurity problems of an interconnected digital landscape, these trends demonstrate the market’s focus on innovation, resilience, and adaptation.

The global Cybersecurity Market size is projected to grow from USD 190.4 billion in 2023 to USD 298.5 billion by 2028 at a CAGR of 9.4% during the forecast period, according to a new report by MarketsandMarkets™. The expansion of the Cybersecurity Market is primarily driven by the escalating number and sophistication of cyber threats as organizations and individuals increasingly operate in a digitally interconnected world. The widespread adoption of technologies like cloud computing, the IoT, and AI further amplifies the need for robust cybersecurity measures. Additionally, stringent regulatory requirements for data protection across various industries compel businesses to enhance their cybersecurity frameworks. The rapid digital transformation, coupled with a heightened awareness of cyber risks, also plays a crucial role in fueling the growth of the Cybersecurity Market.
Browse in-depth TOC on “Cybersecurity Market”
370 – Tables 60 – Figures365 – Pages
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Scope of the Report
Report Metrics
Details 
Market size available for years
2017-2028
Base year considered
2022
Forecast period
2023–2028
Forecast units
Value (USD Million/Billion)
Segments Covered
Offering, Solution Type, Services, Deployment Mode, Organization Size, Security Type, Verticals, and Region
Geographies covered
North America, Europe, Asia Pacific, Middle East and Africa, and Latin America
Companies covered
Major vendors in the global Cybersecurity Market include IBM (US), Cisco (US), Microsoft (US), Palo Alto Networks (US), Fortinet (US), Check Point (US), Trellix (US), Trend Micro (Japan), Rapid7 (US), Micro Focus (Open text) (UK), AWS (US), Oracle (US), Accenture (Ireland), CyberArk (US), SentinelOne (US), Qualys (US), F-secure (Finland), F5 (US), RSA Security (US), Sophos (UK), Forcepoint (US), Proofpoint (US), Juniper Networks (US), SonicWall (US), Zscaler (US), Google (US), Fortra (US), Crowdstrike (US), Broadcom (US), Redington (India), NTT (Japan), Algosec (US), Cynet (Israel), Nozomi Networks (US), Revbits (US), Aristi Labs (India), Illumio (US), Seclore (US), Securonix (US), Sejel Tech (SaudiArabia), Proficio (US), Wijungle (India), Secureden (US), Orca Security (US), Wattle Corporation (India), Open Raven (US), CPX (UAE), and Mesh Security (Israel).   
 
By vertical segment, the healthcare & life sciences vertical will grow at the highest CAGR during the forecasted period.
The healthcare and life sciences sector is expected to grow at the highest CAGR in the Cybersecurity Market for several reasons. The sector deals with vast amounts of sensitive personal health information, making it a prime target for cyberattacks. With the increasing use of technology in healthcare, such as electronic health records and connected medical devices, there is a larger surface for potential cyber threats. These technologies, while improving patient care and operational efficiency, also create vulnerabilities that need strong cybersecurity measures. Additionally, the healthcare sector must comply with stringent regulations regarding patient data protection, like HIPAA in the US. Historically, the healthcare sector has not been as heavily invested in cybersecurity as others, which means there is a lot of ground to cover quickly. Thus, the need for rapid improvement in cybersecurity, driven by both increasing threats and regulatory requirements, is why the healthcare and life sciences vertical is anticipated to see significant growth in cybersecurity investment and development.
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By offerings, the solution segment holds the largest market size during the forecast period.
The solutions segment in the Cybersecurity Market is anticipated to have the largest market size due to several key factors. Firstly, the growing number of cyber threats, which are becoming more complex, requires sophisticated and comprehensive cybersecurity solutions. These threats are no longer limited to large organizations but affect businesses of all sizes and individuals, broadening the market for cybersecurity solutions. Secondly, the rapid digital transformation across various industries has made businesses more reliant on digital infrastructure. This shift demands robust cybersecurity measures to protect sensitive data and ensure business continuity.
Additionally, as companies increasingly adopt technologies like cloud computing, the IoT, and AI, the need for advanced security solutions to safeguard these technologies becomes more pronounced. Furthermore, regulatory requirements across the globe are becoming stricter in terms of data protection, pushing companies to invest in reliable cybersecurity solutions to comply with these regulations. All these factors contribute to the growing market size of the solutions segment in the cybersecurity landscape.
By region, the Asia Pacific market is to grow at the highest CAGR during the forecast period.
The Asia Pacific region, encompassing well-established economies like China and Japan and emerging economies like India, is poised for the highest CAGR during the forecasted period due to several key factors. Rapid economic growth in the Asia Pacific region led to a significant increase in digitalization across businesses and government sectors, creating a larger target for cyber threats. This surge in digital activities necessitates stronger cybersecurity measures. Additionally, the region is experiencing a rapid expansion in internet usage and smartphone adoption, further increasing the need for robust digital security. Many countries in the Asia Pacific are also developing and enforcing stricter data protection regulations, compelling businesses to enhance their cybersecurity infrastructure. Moreover, as industries in the region such as banking, healthcare, and retail increasingly adopt digital technologies, they become more vulnerable to cyberattacks, thus driving the demand for advanced cybersecurity solutions. The combination of these factors contributes to the anticipated high growth rate in the Cybersecurity Market in the Asia Pacific region.
Top Key Companies in Cybersecurity Market:
IBM (US), Cisco (US), Microsoft (US), Palo Alto Networks (US), Fortinet (US), Check Point (US), Trellix (US), Trend Micro (Japan), Rapid7 (US), Micro Focus (Open text) (UK), AWS (US), Oracle (US), Accenture (Ireland), CyberArk (US), SentinelOne (US), Qualys (US), F-secure (Finland), F5 (US), RSA Security (US), Sophos (UK), Forcepoint (US), Proofpoint (US), Juniper Networks (US), SonicWall (US), Zscaler (US), Google (US), Fortra (US), Crowdstrike (US), Broadcom (US), Redington (India), NTT (Japan), Algosec (US), Cynet (Israel), Nozomi Networks (US), Revbits (US), Aristi Labs (India), Illumio (US), Seclore (US), Securonix (US), Sejel Tech (SaudiArabia), Proficio (US), Wijungle (India), Secureden (US), Orca Security (US), Wattle Corporation (India), Open Raven (US), CPX (UAE), and Mesh Security (Israel) are the key players and other players in the Cybersecurity Market.
Recent Developments
In December 2023, IBM Consulting and Palo Alto Networks expanded their strategic partnership to enhance enterprise security, focusing on AI-driven security operations and cloud transformation. The collaboration aims to strengthen end-to-end security postures for clients, addressing the accelerating threats in cybersecurity.In November 2023, IBM introduced a new product called QRadar SIEM, which is a cloud-native SIEM system designed for hybrid cloud environments. It integrates advanced AI capabilities for efficient threat detection and response, targeting the reduction of noise and improvement of alert quality. The platform offers streamlined operations for security teams, enabling faster identification and management of cybersecurity threats in diverse IT landscapes.In June 2023, Cisco introduced Secure Access, a new SSE solution designed to enhance hybrid work experiences by simplifying access across various locations, devices, and applications. It offers a common access experience, providing a single, effortless way for users to access all resources by intelligently and securely directing traffic. With a single, cloud-managed console, it eases security operations and enhances efficiency. Additionally, it incorporates faster detection and response capabilities, backed by Cisco Talos’ AI-driven threat intelligence for enhanced threat blocking. Cisco Secure Access aims to deliver a more secure, hassle-free user experience, redefining secure connectivity in today’s distributed IT environments.In March 2023, Orange Cyberdefense collaborated with Microsoft to launch two new MSSs, enhancing the security features of Microsoft 365 Defender. These services, Managed Workspace Protection and Managed Threat Detection [xdr] for Microsoft 365 Defender, aim to block attacks, enhance security posture, and provide 24/7 threat detection and incident response. The partnership builds upon Orange Cyberdefense’s expertise in Microsoft technologies and is pivotal in providing advanced security solutions to customers across various sectors.In February 2023, Palo Alto Networks introduced a new solution that is easily enabled on Palo Alto Networks’ network security products, including Next-Generation Firewalls and Prisma SASE. It leverages AI for OT environment security against sophisticated threats and simplifies operational processes. The solution addresses challenges in securing OT devices, providing enhanced visibility, inline security, and adherence to high uptime requirements.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=505
Cybersecurity Market Advantages:
By enforcing compliance with data protection standards and maintaining consumer trust, cybersecurity solutions secure data integrity, confidentiality, and availability through access controls, encryption, and data loss prevention (DLP), among other methods.By using vulnerability assessments, risk analysis, and risk mitigation techniques, cybersecurity solutions assist businesses in identifying, evaluating, and mitigating cybersecurity risks. This lowers the possibility and consequence of cyber incidents.By minimising downtime, financial losses, and reputational harm, cybersecurity solutions help organisations respond to cybersecurity issues swiftly and efficiently through protocols for incident detection, analysis, containment, eradication, and recovery.Networks, systems, and endpoints are continuously monitored by cybersecurity solutions for suspicious activity and indicators of compromise (IOCs). Threat intelligence feeds and analytics are used to identify and react to new threats instantly.Endpoints including PCs, laptops, mobile phones, and servers can be protected against malware, unauthorised access, and other online dangers with the help of cybersecurity solutions. This ensures that the entire IT infrastructure of the company is safeguarded.Cybersecurity solutions offer cloud security capabilities to safeguard infrastructure, data, and applications hosted on the cloud against dangers particular to the cloud, illegal access, and other security lapses. This guarantees safe cloud adoption and migration.Cybersecurity solutions are scalable and versatile, meeting the specific security needs and budgetary restrictions of organisations with customisable features and deployment options.Report Objectives
To define, describe, and forecast the Cybersecurity Market based on offering, solution type, services, deployment mode, organization size, security type, verticals, and region:To predict and estimate the market size of five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin AmericaTo analyze the subsegments of the market concerning individual growth trends, prospects, and contributions to the overall marketTo provide detailed information related to the primary factors (drivers, restraints, opportunities, and challenges) influencing the growth of the Cybersecurity MarketTo analyze opportunities in the market for stakeholders by identifying high-growth segments of the Cybersecurity MarketTo profile the key players of the Cybersecurity Market and comprehensively analyze their market size and core competencies.Track and analyze competitive developments, such as new product launches, mergers and acquisitions, partnerships, agreements, and collaborations in the global Cybersecurity Market.Browse Adjacent Market: Information Security Market Research Reports & Consulting
Browse Other Reports:
Managed SIEM Services Market – Global Forecast to 2028
Workplace Safety Market – Global Forecast to 2028
Privileged Access Management Market – Global Forecast to 2028
Cloud Data Security Market – Global Forecast to 2027
Container Security Market – Global Forecast to 2026
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ZTE set to bring brilliant 5G-A highlights to MWC 2024, unfolding the intelligent future

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BARCELONA, Spain, Feb. 23, 2024 /PRNewswire/ — ZTE Corporation (0763.HK / 000063.SZ), a global leading provider of information and communication technology solutions, is proud to unveil the highlights of 5G-A during the Mobile World Congress 2024. This initiative aims to unlock the full potential of 5G technology and create infinite value.

Green Infrastructure Pursuing the Bit-Watt Perfect Curve
Industry’s first constant PA efficiency radio platform for optimal performanceThe latest radio platform achieves near-constant PA efficiency, ensuring optimal performance at all times. This enables 25-30 percentage points higher PA efficiency and 35% lower RRU power consumption than the industry average.  
0 bit 0 watt with industry-first hibernationThe industry’s first hibernation technology has been deployed at scale across over 300,000 AAUs to reduce the power consumption of AAU to as low as 5 watts when there is no traffic. This technology has also been applied to RRU, helping achieve power consumption as low as 3 watts when there is no traffic. For small cells, hibernation enables 0 watts for pRRUs when there is no traffic, and the cell can be awakened in seconds when there are any attempts of service access.
5G-A B2C: Seamless 10Gbps+ Experiences
Uni-Radio enables site simplification with 10 times fewer radios The Uni-Radio (A+P) achieves extremely simplified integration of 7-bands into 1, with dual-band AAU, the industry’s unique 5-band UBR and FDD full-band antenna, achieving a reduction of radio units from 10 to 1.
Industry-unique 12TR RRU goes extremely green, enabling superior energy efficiencyThe industry-unique dual-band 12TR RRU evolves based on a new platform, achieving near-constant PA efficiency. This enables a 35% lower RRU power consumption than the industry average. With the industry’s first RF pooling, the 12TR RRU enables inter-sector output power sharing. For any given sector, 4*120W can be used as 4x160W, achieving higher power efficiency.
Industry’s highest integration FDD Massive MIMO pushes the 4G capacity envelope even furtherThe tri-band FDD Massive MIMO supports all RATs from 2G to 5G and NB-IoT with an impressive 640W output power in only 115L, achieving up to 6 times throughput improvement. Additionally, AI beamforming enhances FDD Massive MIMO performance by 30%, while the industry-unique beam-level DSS optimizes spectrum utilization, achieving an additional 10% data rate gain.  
Industry’s largest bandwidth mmWave AAU empowers 5G-A 10Gbps+ experience The industry’s largest 1.6GHz bandwidth mmWave AAU enables single cell to achieve 28Gbps+ capacity, empowering 10Gbps+ experiences. It serves for diverse scenarios, including fixed wireless access (FWA), large-bandwidth mobile backhaul, and UHD live broadcasting, among others.  
5G-A B2B: Network-Cloud Integration, Service Commissioning in One Hour
UniEngine: All-in-one-box private 5G solution for core productionsUniEngine realizes all-in-one integration of 5G core, 5G RAN, and simplified O&M, while providing powerful computing to enable effortless deployment of 3rd party applications. Enhanced deterministic capabilities of RAN offer much improved service guarantees. The simplified O&M significantly assists even less experienced enterprises in rolling out their private 5G networks and enables end-to-end service performance monitoring.  
Indoor 5G-A CampSite creates new possibilities for TV broadcasting and VR entertainmentThe suitcase-sized CampSite is easy to deploy by one person. It integrates communication and computing, enabling 5G-A network setup within one hour. Additionally, with the inclusion of MiCell, the industry’s first mmWave distributed micro-cell and IF pooling solution, it achieves 2,500m2 coverage, providing up to 6Gbps downlink or 4Gbps uplink, with ultra-low latency of [email protected]% and high reliability. CampSite facilitates new use cases such as 5G-powered TV broadcasting, wireless large-scale and backpack-free VR entertainment, among others.  
5G-A B2X: Boosting the New Economy
Ultra-reliable 5G-A network and edge-cloud integration realize cost-efficient V2X for smart transportationZTE deployed the first 5G-A based vehicle-road-cloud integrated V2X network, empowering autonomous driving and enhancing traffic efficiency. The ultra-reliable network and the edge-cloud at base-station achieve [email protected]% latency, enabling L4 autonomous driving for L2 vehicles at speeds of up to 60km/h.  
5G-A NTN realizes universal connectivity through space-ground integrationZTE has developed the industry’s first NTN ground base station and completed the world’s first 5G IoT-NTN direct-to-cell trial over the S-band as well as the industry’s first maritime trial and NR-NTN lab and field trials. These efforts aim to provide capabilities for emergency communication, wide-area IoT, and internet services.   
Ubiquitous Intelligence: Achieving All-Round High Efficiency
5G-A BBU, the integration of communication and computation for rich AI applications5G-A BBU achieves seamless integration of communication and computation capabilities. Leveraging its computation capability, base-station native AI enhances RAN intelligence, enabling highly efficient service guarantees to boost traffic, implement more precise power-saving strategies, and facilitate L4 autonomous network O&M. By opening the computation resource open to third parties, cost-efficient app deployment at the base station becomes possible, enriching the range of new applications.   
AIGC empowered uSmartNet commercial used during a grand sports event in Asia Based on AIGC and digital twin technology, ZTE’s uSmartNet achieved the industry’s first smart games assurance during the event. This accomplishment resulted in zero major issue and zero major customer complaints, improving operational efficiency by 15% and reducing workload by 30%.
ABOUT ZTE:ZTE helps to connect the world with continuous innovation for a better future. The company provides innovative technologies and integrated solutions, and its portfolio spans all series of wireless, wireline, devices and professional telecommunications services. Serving over a quarter of the global population, ZTE is dedicated to creating a digital and intelligent ecosystem, and enabling connectivity and trust everywhere. ZTE is listed on both the Hong Kong and Shenzhen Stock Exchanges. www.zte.com.cn/global
FOLLOW US:Facebook  www.facebook.com/ZTECorpTwitter  www.twitter.com/ZTEPressLinkedIn  www.linkedin.com/company/zteYouTube www.youtube.com/@ZTECorporation
MEDIA INQUIRIES:ZTE CorporationCommunicationsEmail: [email protected] 

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MIAMI INVESTOR SUMMIT KICKS OFF TODAY WITH GLOBAL LEADERS DISCUSSING HUMANITY’S BIGGEST CHALLENGES

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MIAMI, Feb. 23, 2024 /PRNewswire/ — Leading figures from finance, government, business, tech, and innovation are convening to deliberate on a range of pressing economic and public policy issues at FII PRIORITY Miami summit, a major global investor summit, held today and tomorrow at Miami’s Faena Forum.

The summit brings together investors from around the world gathered with CEOs of major global corporations and policy experts to seek workable impactful solution to issues such as the regulation of AI. This year’s theme, ‘On the Edge of a New Frontier,’ reflects the profound changes the world is experiencing as technology transforms society and economies.
Richard Attias, CEO of FII Institute, said,”Today’s conversations reflected a sense of urgency as the world grapples with what to do about AI, political uncertainty, and changes in the shape of the global economy. And we bring these conversations to Miami—the new America—so we can chart a steadfast course towards a prosperous future, fully equipped with the insights and knowledge we need, harnessing the power of collective work and thought.”
In his opening conversation, H.E. Yasir Al-Rumayyan, Public Investment Fund Governor and Future Investment Initiative (FII) Institute Chairman, underscored the role of AI and its key contribution to future economies, saying “Al is coming in a big way! The impact will be very positive as soon as we have regulations in place to monitor, control, and enable this technology. AI could increase global GDP by 14%.”
Michael Dell, Chairman and CEO of Dell Technologies, addressed the issue of AI regulation, and how CEOs can innovate through periods of extreme volatility and pivot towards future trends, adding “regulations will struggle to match the rapid pace of technological change and may be outdated within a year. We have to ensure that emerging technologies reflect humanity and our system of values and beliefs.”
The summit’s much anticipated roundtable of global CEOs, entitled the “Board of Changemakers,” discussed trends and economic outlook. Participating in this year’s roundtable were Pamela Liebman, President and CEO of The Corcoran Group; Pierre Beaudion, Chairman of the Board of Bombardier Inc; Jenny Johnson, President and CEO of Franklin Templeton; Marcello Claure, Founder and CEO of Claure Group; and Stephen A. Schwarzman, Co-Founder, Chairman & CEO of The Blackstone Group. The session underscored the impact of digitalization, particularly blockchain and AI, on future investments, advocating for regulation and ethical usage. The members of the board also highlighted AI’s massive role in increasing efficiency and how AI can be harnessed to resolve climate change issues.
Mike Pompeo, 70th Secretary of State of the United States and Executive Chairman of Impact Investments, addressed the economic consequences of conflict, saying: “in the economic sphere, the connectivity between the things happening geopolitically is now ever more closely tied to thinking about investments and capital flows. It is impossible to separate geopolitical risk from capital allocation.”
Conclave sessions were held for select senior participants to delve into the concerns relevant to their sectors with full transparency.  For example, the conclave on AI convened many leading figures involved in the development of technologies, governance of AI, technology investment, and regulation, with a number of global initiatives on AI regulation presented
A special address by former Treasury Secretary Dr. Lawrence H. Summers, Charles W. Eliot University Professor & President Emeritus at Harvard University, and board member at OpenAI, highlighted economic and political contexts, including prospects for soft or hard economic landing, and likely outcomes of the US election. Dr. Summers was joined by Eric Schmidt, co-founder of Schmidt Fututes, who noted that AI is likely to double everyone’s productivity, underscoring the importance of AI regulation, he added “there are questions about what happens when computers start to make decisions.”
FII Institute’s Founding Partner is the Public Investment Fund of Saudi Arabia, which, alongside the Vision Partner, the Ministry of Investment of Saudi Arabia, and 26 international strategic partners are actively involved in the ongoing work of the institute. The FII Institute welcomed two new strategic partners at the summit: ACWA Power and Franklin Templeton. Speakers from strategic partners Franklin Templeton, GFH, HSBC, NEOM, ROSHN, Sanabil, Softbank, and State Street shared updates on their international projects relevant to the themes of the summit.
Notes to EditorFor media inquiries, please contact:Phone: +966 53 978 2030Email: [email protected]
The Future Investment Initiative (FII) Institute is a global non-profit foundation driven by data with an investment arm and one agenda: Impact on Humanity. Global and inclusive, we foster great minds from around the world and turn ideas into real-world solutions in four critical areas: Artificial Intelligence (AI) & Robotics, Education, Healthcare and Sustainability.
The FII PRIORITY Miami summit continues conversations held in Hong Kong and Riyadh in Autumn 2023. It is part of an ongoing global program of summits held throughout the year, with upcoming summits in Rio de Janeiro in June and Asia later in the year.
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Securitas issues a MEUR 500 Eurobond

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STOCKHOLM, Feb. 23, 2024 /PRNewswire/ — Securitas has today successfully closed a MEUR 500 bond in the Eurobond market with maturity in 2030. The coupon was 3.875 percent including a margin of 115 basis points.

The proceeds will mainly be used to refinance existing debt. 
The joint lead managers were BofA Securities, CIC, Commerzbank, Danske Bank, DNB and UniCredit. 
Further information:
Investors: Micaela Sjökvist, Vice President, Investor Relations, +46 76 116 7443, [email protected]
The following files are available for download:
https://mb.cision.com/Main/1062/3934748/2624675.pdf
Eurobond_Eng_20240223

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