Cybersecurity as an industry is expected to grow to USD 478.69 Billion by 2030, according to Adroit Market Research.
“As a result of new technologies like ML, IoT, and AI, data generation has increased in many different ways. In many industries, a huge range of data is produced every day. These elements have driven those industries to safeguard themselves with prospective cybersecurity solutions. The expanding data sharing and organizational flaws have enhanced the need for the growth of the global cyber security market.” (Globe News Wire).
The global cybersecurity market needs to grow, so this expected increase is good news. This increase has been driven by a multitude of factors.
“It has been vital for IoT market penetration rates to increase, which has led to an increase in connected products like wearables, consumer electronics, connected equipment, and autos. This market penetration has been facilitated by significant device cost reductions and emerging business models. Attacks on consumer IoT are common, but the threat of disruption in manufacturing and other sectors makes cybersecurity more pervasive in the market dynamics right now. Additionally, it is anticipated that the development of 5G would hasten the usage of connected devices in sectors that are already moving toward Industrial Revolution 4.0. The global cybersecurity market is reached US$ 197.38 billion and is projected to grow at a positive CAGR of 9.7%, reaching US$ 478.69 billion in 2030.” (Globe News Wire).
Malware is one of the technologies driving threats in the cyber world.
“Malware, such as viruses and Trojans, has substantially expanded its ability to enter, control, and harm whole electronic information networks. Malware is frequently used by cyber criminals to obtain control of devices or equipment in order to make money. This is done so that the machine may be immediately used to undertake fraudulent transactions or criminal operations.” (Analytics Insight).
To increase your company’s cyber-attack prevention success rates, consider working with a cyber security company.
“Cybersecurity companies are engaged in developing security solutions with AI that helps organizations automate their IT security. Such solutions enable automated threat detection and remediation, allowing IT professionals to reduce the efforts and time required to track malicious activities, techniques, and tactics. These solutions offer real-time monitoring and identification of new threats while also responding autonomously. This helps the security teams analyze the filtered breach information and detect and remediate cyber-attacks faster, thereby reducing security incident costs.” (Analytics Insight).
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Sources:
Analytics Insightshttps://www.analyticsinsight.net/the-cybersecurity-market-size-is-expected-to-hit-us266-2-billion-by-2027/
