Published Via 11Press : The internet was first introduced in the 1960s, but only a select few people had access to it. Initially, computer crime was limited to intentionally damaging computers physically. In the 1980s, the tendency shifted from physically damaging computers to intentionally breaking them down with malicious code. Due to the internet’s exclusivity to major multinational corporations, defence organisations, and a small number of research communities up until that point, the influence was not as widespread. When the internet was first made available to the general public in 1996, it immediately gained popularity among the populace and they gradually grew reliant on it to the point where it altered their way of life. The goal of computer crime in the twenty-first century evolved from only harming the computer and altering data.
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Hacks and other security assaults are becoming a major worldwide worry, and many people are worried that they might harm the world economy. In order to safeguard this information and the technologies used to handle or store it, cybersecurity has developed as a result of the fact that organisations routinely communicate sensitive data over networks and to other devices. As the number of cyberattacks rises, businesses must take precautions to safeguard their sensitive customer and employee data, especially if they deal with data pertaining to health, national security, or financial records. Cybersecurity refers to the safeguarding of data, hardware, and software on systems that are linked to the Internet. The tenure “cyber” refers to technology that contains a network, systems, programmes or data.
Artificial Intelligence in Cybersecurity Market Report Highlights:
| Attributes | Details |
| Study Period | 2028 |
| Base Year | 2022 |
| Largest Market | United Kingdom |
| Unit | Value (USD Million) |
| Key Companies Profiled | IBM Corporation, Fortinet, Splunk, AWS, Cisco Systems, Microsoft, Sophos, Alto Network, Oracle, McAfee, F5 Networks Forcepoint, F-Secure, Palo, Trend Micro, Micro Focus, RSA Security |
| CAGR | 9.5% |
By 2028, the market size in Europe for cybersecurity products and services may reach USD 72328.5 million with a growth rate of 9.5%. The market’s value at the moment is USD42038.2 Million.
Key business segments Breakdown:
By Application:
- Data Loss Prevention
- Unified Threat Management
- Encryption
- Identity and Access Management
- Risk and Compliance Management
- Antivirus/Antimalware
By Technology:
- Context-Aware Computing
- Machine Learning
- Natural Language Processing
By Security:
- Cloud Security
- Network Security
- Endpoint Security
- Application Security
Due to new techniques used by competitors in the cybersecurity industry, it is anticipated that the rivalry would get even more fierce in the upcoming years. The cybersecurity research study delivers information on the competitive environment and the product/service offerings of top firms to assist customers in increasing their revenue shares in the sector. This cybersecurity market study also identifies crucial areas for businesses to concentrate on and offers tactics they can use to capitalise to the fullest on development potential.
The report offers several leading players:
- IBM Corporation
- AWS
- Cisco
- Systems Norton LifeLock
- Microsoft
- Sophos
- Check Point SoftwareTechnologies
- Oracle
- Fortinet
- Splunk
- McAfee
- F5 Networks
- Forcepoint
- F-Secure
- Proofpoint
- Palo Alto Network
- Trend Micro
- Micro Focus
- RSA Security
- Combitech
Influencing Trend:
- The usage of privacy-enhancing computing will allow businesses to safely communicate data in untrusted contexts as privacy issues increase owing to the proliferation of digital technology and the expansion of data production as well as processing.
- There are three technologies that protect data while it is being utilised in privacy-enhancing computing.
- Sensitive data may be processed in a secure environment thanks to confidential computing.
- Decentralised machine learning (ML)-based analytics and data processing.
- Homomorphic encryption, a cryptographic technique, enables third parties to process encrypted data and send the owner of the data an encrypted output without revealing anything about the data itself.
- Organisations may safely share data across borders and cooperate while retaining their privacy using privacy-enhancing computing.
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Market Growth Drivers:
- The number of cyberattacks in the European Union has increased recently for a number of reasons.
- Cyber threats are growing in number as the internet expands. Cybercriminals are developing new attack strategies as they hunt for targets.
- There are two categories of hackers: those seeking targets with financial or political objectives. Europe is a popular target for cyberattacks because of its developed economy and significant geopolitical standing.
- The Internet of Things (IoT) has emerged as the most promising technology and has digitalized most daily activities. By 2025, it is predicted that the worldwide IoT market would have grown to a value of $13 trillion.
- According to HTF Market Intelligence, there are presently more than eight billion of these devices linked to the network, and they anticipate that there will be more than 25 billion by the year 2020.
- Consumers enjoy using connected gadgets very much, but they are also brand-new targets for cybercriminals.
- IoT and cybercrime have two crucial characteristics: they surround us at all times and are virtually undetectable to the human eye.
- Key data that is often maintained by organisations, such as personnel records, rewards programmes, customer information, transactions, or data collecting, must be safeguarded.
- This is done to stop third parties from using such data for illegal purposes like identity theft and phishing schemes.
Challenges:
- Small to medium-sized companies make excellent targets for online fraudsters. Businesses of all sizes suffer catastrophic losses as a result of data breaches, but SMBs are disproportionately at risk.
- Cybersecurity, like many other essential business operations, frequently necessitates a monetary outlay, necessitating budgetary space.
- Cybersecurity is still necessary today and will continue to be so. In actuality, cybersecurity is growing in importance for small businesses.
- Because of this, it’s critical to prioritise funding for cybersecurity.
- In order to protect against cyberattacks, it is therefore essential to invest in cyber security.
- The adoption among SMEs, especially small businesses, is restricted by tight budgets and the high cost of cybersecurity solutions.
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Restraints:
- Cybersecurity Solutions Using Open-Source Software To save expenses, the majority of firms continue to employ open-source cybersecurity solutions.
- Because every user has access to the relevant computer code, can audit what the feature performs, and may alter the code to meet specific requirements, the market for open-source software is growing quickly.
- Open-source software has a substantial market share that is dominated by cybersecurity technologies.
- There are several open-source cybersecurity products available for free that are compliant with standards for enterprise-grade security software.
- Unfortunately, many of the open-source security products that are available for free do not have all the features of their corresponding premium versions.
- Before buying the full edition, many cybersecurity newbies test and learn using the free versions.
Opportunities:
- In terms of internet penetration, Europe is one of the greatest areas. More than 85% of internet users are in the European Union.
- In the fiscal year 2020, Europe’s e-commerce market size exceeded Euro 717 billion. That would represent an improvement above the scenario from the previous year of 12.7%.
- E-commerce platforms have become essential to the sales of every industry.
- Whether it be B2B, B2C, C2C, or C2B, e-commerce has become increasingly prevalent across a range of industrial sectors.
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