Cyber Situational Awareness Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Cyber Situational Awareness  Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Cyber Situational Awareness  Global Market Report 2024, The cyber situational awareness market size has grown exponentially in recent years. It will grow from $67.85 billion in 2023 to $83.11 billion in 2024 at a compound annual growth rate (CAGR) of 22.5%.  The  growth in the historic period can be attributed to data breaches and incidents, regulatory mandates, digitalization across industries, supply chain vulnerabilities, shortage of cybersecurity skills..

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.

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.

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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

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.

The cyber situational awareness  market report table of contents includes:
1. Executive Summary

2. Cyber Situational Awareness Market Characteristics
3. Cyber Situational Awareness Market Trends And Strategies
4. Cyber Situational Awareness Market – Macro Economic Scenario
5. Global Cyber Situational Awareness Market Size and Growth
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6. . Global Cyber Situational Awareness Market Competitive Benchmarking
7. Global Cyber Situational Awareness Market Competitive Dashboard
8. Key Mergers And Acquisitions In The Cyber Situational Awareness Market
9. Cyber Situational Awareness Market Future Outlook and Potential Analysis
10. Appendix

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