Global Cyber Situational Awareness market analysis 2024, Forecast To 2033
4 Mar, 2024
The cyber situational awareness market size has experienced exponential growth, surging from$67.85 billion in 2023 to$83.11 billion in 2024, reflecting a remarkable compound annual growth rate (CAGR) of 22.5%. The historic growth is attributed to data breaches and incidents, regulatory mandates, digitalization across industries, supply chain vulnerabilities, and the shortage of cybersecurity skills. Forecasts anticipate continued exponential growth, with the market expected to reach$188.1 billion by 2028, boasting a compound annual growth rate (CAGR) of 22.7%. This growth is fueled by rising cyber attacks, regulatory changes, cloud security focus, and concerns regarding IoT and OT security. Major trends in the forecast period include digital transformation, network complexity, the introduction of cloud solutions, and enhancements in threat intelligence.
Global Cyber Situational Awareness Market Key Driver
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. The 2023 market size for the cyber situational awareness market corresponds to the escalating threats of cyberattacks, with projections for 2024 and 2028 indicating sustained growth driven by increased investments in cybersecurity solutions and risk mitigation strategies.
Get A Free Sample Of The Global Cyber Situational Awareness Market ReportGlobal Cyber Situational Awareness Market Segments
The global 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
By Geography: The regions covered in the cyber situational awareness market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the cyber situational awareness market in 2023. The regions covered in the cyber situational awareness market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Cyber Situational Awareness Industry Players
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
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Cyber Situational Awareness 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.
Cyber Situational Awareness Global Market Report 2023 provides data on the global cyber situational awareness market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The cyber situational awareness market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.