Global Cyber Security Market Value Projected To Exceed $280 Billion By 2027
Palm Beach, FL – February 19, 2020 – The Global cyber security market value stood at USD 112.01 billion in 2019 and is projected to reach USD 281.74 billion by 2027, exhibiting a CAGR of 12.6% during the forecast period from 2020 to 2027, according to Fortune Business Insights. The report stated that with the growth in number of cyber security threats and attacking tools, the requirement for advanced cyber security solutions to deal with such attacks is growing exponentially. The traditional cyber security solutions are not enough accomplished of securing the organizations from advance threats of cloud, network, endpoint security, among others. In addition, huge algorithms are required for cyber security solution providers to develop technically advanced solutions. Further, high cost associated with cyber security solutions and services limits the adoption among small and medium enterprises. Cyber security market growth is driven by the rising adoption of e-commerce online platforms and the emergence of disruptive technologies such as Artificial Intelligence (AI), Internet of Things (IoT), Blockchain, and others. Additionally, the adoption of cyber security solutions is expected to grow with increasing investments from countries such as India, Italy, Spain, Canada, Oman, South Korea, Qatar, and others. Also, rising demand for enterprise security solutions from industries including banking, financial services and insurance (BFSI), manufacturing, along with aerospace & defense and healthcare sectors is anticipated to boost the market size in the forthcoming years. Active Companies from around the market with current developments this week include: Data443 Risk Mitigation, Inc. (OTCPK: ATDS), Oracle Corporation (NYSE: ORCL), Twilio Inc. (NYSE: TWLO), CyberArk Software Ltd. (NASDAQ: CYBR), Fortinet, Inc. (NASDAQ: FTNT).
The report also found that the growing adoption of Cloud-based services will help to spur the market growth. It said: “One of the key trends that enable the overall growth of cyber security market is the rising adoption of cloud computing. Cyber security solutions are based on complex mathematical prediction models, handling large amounts of data. This data monitoring can only be fulfilled by cloud technology in a secure and reliable environment at low cost. Key players such as IBM Corporation, Cisco System and others, are focusing on integrating cloud computing with cyber security solutions. These cloud computing services are backed up by ‘Analytics as a Service’ (AaaS) offerings, allowing users to detect and mitigate uncertain threats quickly.”
Data443 Risk Mitigation, Inc. (OTCPK: ATDS) BREAKING NEWS: DATA443 ANNOUNCES THE LAUNCH OF GLOBAL PRIVACY MANAGER™, REVOLUTIONARY PRIVACY COMPLIANCE & CONSUMER LOSS MITIGATION SAAS TECHNOLOGY – Data443 Risk Mitigation, a leading data security and privacy software company, today announced the launch of its Global Privacy Manager™, the industry’s only end-to-end privacy compliance, governance and consumer loss-mitigation platform. The SaaS-only, deployed in minutes offering, will be open to privacy-focused retail and ecommerce businesses who have struggled to maintain their privacy compliance posture.
“Adding onto our existing 30,000 GDPR Framework clients – powered by our leading enterprise grade technologies such as ClassiDocs™, ArcMail, ARALOC™ and others to come – we’re very excited to offer this for all other privacy-centric frameworks such as the CCPA, PIPEDA and LGPD.” said Jason Remillard, CEO and founder of Data443. “Our years of in-depth experience in this market has taught us that marketers and business owners of all sizes want to be privacy centric and compliant – but also don’t want to destroy or lose their material investment in customer relationships. Being cognizant of this, responsible in the privacy relationship and having a different approach towards consent, opt-in, and ongoing stewardship of these facets – all while keeping in compliance with changing laws backs up our research for success.”
Data443’s Global Privacy Manger™ is built on the ClassiDocs™ award winning data classification platform and Data443’s WordPress GDPR Framework, which is currently powering more than 30,000 businesses worldwide for the EU’s GDPR Privacy Law. The combined platform automatically searches the data residing in cloud application, databases, servers, and endpoints used by businesses to discover, classify and map customer data. Its out-of-the-box workflows are easily tailored to fit the size and scope of any business and include automated processes to save time and confirm compliance. At its foundation, Global Privacy Manager focuses on creating the customers’ privacy experience. Its full privacy portal, customizable consent management and simple reporting create a one-stop location for customers to manage their privacy rights, allowing for a seamless transition between submitting a Subject Access Request (SAR), the business classifying and mapping and discovering privacy data, and reporting back to the customer.
“By their nature, laws and regulations set the minimum acceptable standard. But providing the bare minimum never leads to a quality experience for the customer,” said Remillard. “We are offering an initial early adopters’ program that will allow us to onboard clients who are just starting to test the waters with privacy compliance efforts – regardless of which one – and receive a fully branded, customizable, personalized experience within minutes to demonstrate the platform capabilities and value statement.” Read this full release and more news for ATDS at: https://financialnewsmedia.com/news-atds
In the industry developments and happenings in the markets include:
Oracle Corporation (NYSE: ORCL) recently announced the availability of the Oracle Cloud Data Science Platform. At the core is Oracle Cloud Infrastructure Data Science, helping enterprises to collaboratively build, train, manage and deploy machine learning models to increase the success of data science projects. Unlike other data science products that focus on individual data scientists, Oracle Cloud Infrastructure Data Science helps improve the effectiveness of data science teams with capabilities like shared projects, model catalogs, team security policies, reproducibility and auditability. Oracle Cloud Infrastructure Data Science automatically selects the most optimal training datasets through AutoML algorithm selection and tuning, model evaluation and model explanation.
Twilio Inc. (NYSE: TWLO) the leading cloud communications platform, recently announced that Cover has selected Twilio Flex to power its customer communications. Twilio Flex, a programmable contact center platform, gave Cover the control to build a customized contact center that delivers a differentiated customer and agent user experience. Cover provides a frictionless and personalized insurance buying experience by connecting users with real, expert advisors who are able to offer quotes from over 30 carriers via the mobile app.
With a mission of disrupting the insurance industry with its innovative blend of mobile technology, automation, and expert advice, Cover sought to deliver a customer experience that matches its personalized approach. The mobile-first insurance platform customized Twilio Flex to deliver on-demand customer service. Cover has experienced 57% faster response time and an 8% higher resolution rate since making the switch to Twilio Flex.
CyberArk Software Ltd. (NASDAQ: CYBR) the global leader in privileged access management, recently announced the CyberArk Blueprint for Privileged Access Management Success. The most comprehensive program of its kind, CyberArk Blueprint is designed to help customers take a future-proof, phased and measurable approach to reducing privilege-related risk.
Based on the experience of the CyberArk Labs, Red Team and incident response engagements, nearly every targeted attack follows a similar pattern of privileged credential compromise. Those patterns influenced CyberArk Blueprint’s three guiding principles, which are foundational to the program: prevent credential theft; stop lateral and vertical movement; and limit privilege escalation and abuse.
Fortinet, Inc. (NASDAQ: FTNT) recently announced that with more than 355 technology integrations with its Fortinet Security Fabric, Fortinet provides its customers with one of the most extensive cybersecurity ecosystems in the industry. With Fortinet’s Open Fabric Ecosystem, customers can attain the most advanced end-to-end security with broad visibility and seamless management across their entire network through integrated, pre-validated solutions.
The Fortinet Security Fabric has an open architecture that connects traditionally disparate security solutions into a unified framework. This allows organizations to dynamically adapt to evolving IT infrastructure in order to defend the rapidly-changing attack surface. Fortinet’s open approach extends the broad visibility, integrated threat detection and automated response of its Security Fabric to leading technology alliance solutions. These integrated solutions in the Fortinet Open Fabric Ecosystem enable customers to obtain more value from their security deployments through comprehensive solutions.
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