Press release
Cyber Situational Awareness Market 2024: Size, Share, Trends And Analysis
Cyber Situational Awareness Market
The cyber situational awareness market size is expected to see exponential growth in the next few years. It will grow to $188.1 billion in 2028 at a compound annual growth rate (CAGR) of 22.7%. The growth in the forecast period can be attributed to rising cyber attacks, regulatory changes, cloud security focus, iot and ot security concerns. Major trends in the forecast period include digital transformation, complexity of networks, introduction of cloud solutions, threat intelligence enhancement.
Market Overview -
Cyber situational awareness is the immediate knowledge of friendly, adversarial, and other relevant information regarding activities in and through cyberspace. It enables the accurate perception of an enterprise's security stance and threat environment.
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Surge In Demand For Cyber Situational Awareness Amidst Escalating Cyberattacks And Online Fraud
The increasing instances of cyberattacks and online fraudulent activities will boost the demand for the cyber situational awareness market. Cyberattacks are any attempt to obtain unauthorized access to a computer, computing system, or computer network to cause harm. Cyberattacks are more likely to target companies that do not offer proper customer protection and corporate cyber situational awareness information. Organizations require a robust identity solution and are investing in identity verification systems and cyber situational awareness among employees. For instance, in June 2022, according to Forbes, a US-based business magazine, the average frequency of data breaches and cyberattacks rose by 15.1% in 2021 compared to the previous year. Moreover, in May 2021, according to Gartner, a management consulting firm, released research stating that spending on data security climbed from 2.98 billion in 2020 to 3.5 billion in 2021, growing at a rate of 17.5%. Therefore, growing cyberattacks and fraudulent online activities will boost the cyber situational awareness market.
Competitive Landscape -
Major companies operating in the cyber situational awareness market report are International Business Machines Corporation, Verint Systems Inc., Marklogic Corporation, Firemon LLC, Honeywell International Inc., DXC Technology Co., Microsoft Corporation, Field Effect Software Inc., Cyware Labs India Pvt. Ltd., Paolo Alto Network Inc., Darktrace plc, SAS Insitute Inc., Palantri Technologies Inc., Lynx Technology Partners LLC, The Mitre Corporation, Vehere Inc., Anomali Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., Cofense Inc., CrowdStrike Holdings Inc., Cybereason Inc., Digital Guardian Inc., Exabeam Inc., FireEye Inc., Fortinet Inc., F-Secure Corp., LogRhythm Inc., McAfee LLC
Pioneering Technological Solutions In The Cyber Situational Awareness Landscape
Technological advancements are a key trend gaining popularity in the cyber situational awareness market. Major companies operating in the cyber situational awareness market are focused on developing new technological solutions to strengthen their position. For instance, In April 2021, the Oulu University Secure Programming Group, a research group at the University of Oulu that studies, evaluates, and develops the methods of implementing and testing application and system software, launched an open-source STIX 2.0 specification implementation in Gson/Java. STIX is a structured language for describing cyber threat information so it can be shared, stored, and analyzed consistently. This open-source Java technology is specifically for the cyber-security community and has been designed with a generic use purpose in mind for anyone that requires the use of the latest STIX2.0 specification.
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Key Segments -
The cyber situational awareness market covered in this report is segmented -
1) By Type: Network Forensics, Network Traffic Analysis, DNS Threat Analysis, Network Detection and Response, Network Performance Monitoring and Diagnosis, Intrusion Detection System, Intrusion Prevention System, Other Types
2) By Component: Solution, Services
3) By Deployment Type: On Premise, Cloud
4) By Organization Size: Small and Medium-sized Enterprises, Large Enterprises
5) By Industry Vertical: BFSI, Military and Defense, Healthcare, Aerospace, Marine Security, Automotive, Mining and Oil and Gas, IT and Telecom, Government Agencies
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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