The cybersecurity landscape is seeing exponential growth with attack techniques and sectors changing at an alarming rate. That’s creating tailwinds for cybersecurity companies.
As MRP noted in a May 2017 DIBs report, the web has become a new global battleground void of borderlines, and cybercrime is now BIG business. Cyber-espionage between governments and corporations has increased, phishing incidents are skyrocketing in frequency, and cyber-hijacking are part of the daily conversation. Not only is the volume of attacks rising, so too is the sophistication level of these hacks.
As such, cybersecurity has become a booming industry, providing private companies and government entities with blankets of protection -- monitoring networks, enhancing firewalls, implementing AI-fueled intrusion detection systems, and using complex cryptographic techniques to store data -– all to combat hackers. Demand is such that the cybersecurity market is expected to grow from its current value of $153 billion to $248 billion by 2023. That presents a huge opportunity for major technology vendors in the market.
Several major forces are driving this growth, including increasing technology adoption around the world, cyberterrorism, the rise of Artificial Intelligence (AI) and connected devices, strict data-protection directives, as well as cloud-based business practices among SMEs . . .