Cybersecurity Market Insights, Growth Forecast to 2029 from Ankita Raut's blog

Global Cybersecurity Market refers to the collection of techniques, skills, methods, and processes that are used to create, develop, and improve products, services, or systems to solve problems and meet human needs. It involves the application of scientific and engineering principles to design, develop, and produce tools, machines, devices, and systems that improve efficiency, convenience, safety, and quality of life.

The global cyber security market was valued at USD 139.77 billion in 2021 and is projected to grow from USD 155.83 billion in 2022 to USD 376.32 billion by 2029, at a CAGR of 13.4% during the forecast period. 

Read More: 

https://www.globenewswire.com/news-release/2023/03/02/2619064/0/en/Cyber-Security-Market-Exhibits-13-4-CAGR-to-Hit-USD-376-32-Billion-by-2029.html

List of the Key Companies Profiled:

• Cisco Systems, Inc. (U.S.)
• IBM Corporation (U.S.)
• Fortinet, Inc. (U.S.)
• Proofpoint, Inc. (U.S.)
• Microsoft Corporation (U.S.)
• Palo Alto Networks, Inc. (U.S.)
• Zscaler, Inc. (U.S.)
• Broadcom, Inc. (U.S.)
• F5 Networks, Inc. (U.S.)
• Check Point Software Technologies (Israel)
• Sophos Ltd. (U.K.)

Drivers

Digital transformation: The ongoing shift towards digitalization across all industries is expected to continue to drive growth in the technology market. Companies are investing in technology solutions to improve their efficiency, reduce costs, and stay competitive.

Artificial Intelligence (AI): The adoption of AI and machine learning technologies is expected to continue to grow as businesses look for ways to automate tasks, improve decision-making, and gain insights from data.

Internet of Things (IoT): The adoption of IoT devices is expected to continue to increase as consumers and businesses look for ways to make their homes, offices, and factories smarter and more efficient.

5G networks: The rollout of 5G networks is expected to provide faster and more reliable connectivity, which will enable new applications and services that require low latency and high bandwidth.

Cloud computing: The adoption of cloud computing is expected to continue to grow as more companies move their operations to the cloud to reduce costs, improve scalability, and enhance security.

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