Cyber Security Definition and Market Size

Voice Biometrics Market Size Worth $4.82Bn, Globally, by 2028 at 20.6% CAGR – Exclusive Report by The Insight Partners
NEW YORK , May 23, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Voice Biometrics Market Forecast to 2028 – COVID-19
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Overview The #IoT security market is garnering rapid traction across the globe. Market growth attributes to the spurting rise in
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Cyber Security Definition and Market Size

The question “How big is the cyber security market?” begs the question of what comprises the market? Estimate as to the dollar value of the cybersecurity market vary greatly. The variances are only partly due to differences in assumptions about spending and growth. To arrive at a meaningful market size, it is first necessary to establish a workable cyber security definition. This is getting increasingly difficult to do.

cyber security definitionA good cyber security definition would be as complete as possible without adding too many extraneous types of IT work. One way of getting at a cyber security definition is to make a list of all products and services purchased for the purpose of cyber security. For example, you could include firewall sales along with firewall configuration services. This is a relatively good approach to defining cyber security, but it has several drawbacks.

Cybersecurity extends far beyond products and services that are specifically related to security. For instance, if the infrastructure management department is responsible for testing and installing operating system patches, is that security or IT? It’s both, really. IT operations is frequently on task to perform the work of cybersecurity. A security analyst might identify a problem, like an unpatched server, but IT ops does the security work.

Limiting the cyber security definition simply to products and services that have the word “security” in them ignores the expansion of activities that affect security. Passport control systems at airports might not be considered relevant to cybersecurity. However, fake passports, or people who know how to fake out such systems, could have an impact on a nation’s broader cybersecurity posture.

Going further, given how so many areas of modern life now revolve around digital technology—and are thus vulnerable to cyber attacks—is there any subject that’s off limits to cyber security? Take toys. Are toys a cybersecurity issue? Yes, they are, if you take a hard look at how many toys are digital and connected to home Wi-Fi networks.

The cyber security market is vast. As technology evolves and we understand its risks better, the cyber security definition grows in scope. Defining cybersecurity promises to be a never-ending task.

Voice Biometrics Market Size Worth $4.82Bn, Globally, by 2028 at 20.6% CAGR – Exclusive Report by The Insight Partners

NEW YORK , May 23, 2022 /PRNewswire/ — The Insight Partners published latest research study on “Voice Biometrics Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component (Solution and Services), Type (Active #Voice Biometrics and Passive Voice #Biometrics), Authentication Process (Automated IVR, Agent-assisted, Mobile Application, and Employee Authentication), Deployment (Cloud and On-premise), Vertical (BFSI, Retail & Commerce, Government & Defense, IT & Telecom, Healthcare & Life Sciences, Transportation & Logistics, Travel & Hospitality, Energy & Utilities, and Others), and Application (Authentication & Customer Verification, Forensic Voice Analysis & Criminal Investigation, Fraud Detection & Prevention, Risk & Emergency Management, Transaction Processing, Access Control, Workforce Management, and Others)”, the global voice biometrics market share is expected to grow from $1.31 Billion in 2021 to $4.82 Billion by 2028; it is estimated to grow at a CAGR of 20.6% from 2022 to 2028.

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Report Coverage

Details

#Market Size Value in

US$ 1.31 Billion in 2021

Market Size Value by

US$ 4.82 Billion by 2028

Growth rate

CAGR of 20.6% from 2022 to 2028.

Forecast Period

2022-2028

Base Year

2022

No. of Pages

238

No. Tables

165

No. of Charts & Figures

120

Historical data available

Yes

Segments covered

Component, Type, Authentication Process, Deployment, Vertical, and Application

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Voice Biometrics Market: Competitive Landscape and Key Developments

Aculab; Auraya, Inc; Aware Inc; Nuance Communications, Inc; Nice; Pindrop; Phonexia; SESTEK; Whispeak; and VERINT SYSTEMS INC are among the key players in the global Voice Biometrics market. The leading companies are focusing on expanding and diversifying their market presence and acquiring a new customer base, thereby tapping prevailing business opportunities.

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In January 2022, Aware, Inc. entered into a strategic partnership with MIRACL, cybersecurity company specialized in single step, secure multi factor authentication.

The rise of modern technologies such as artificial intelligence (AI), machine learning (ML), cloud computing, and data analytics and the strong demand for preserving healthcare and financial data is propelling the growth of the voice biometrics market. End-use industries such as banking, financial services and insurance (BFSI), government and public sectors, and IT & telecom are experiencing growth due to increasing urbanization and digitalization worldwide. As a result, hackers are targeting the important information and resources used in these areas. Further, biometrics used as credentials require the usage of unalterable, robust, and extensive algorithms to validate individuals. The advantages of biometric authentication over speech recognition and the promising development of AI-based voice recognition technology that reduces the risk of replication or hacking provide top-notch biometric security

Impact of COVID-19 Pandemic on Global Voice Biometrics Market:

In 2020, the impact of the COVID-19 outbreak differed in every country across the European region, as few countries witnessed an increased number of recorded cases and subsequently faced strict and longer lockdown periods or social isolation. However, COVID-19 impact on Western European countries such as Germany, France, and the UK was comparatively moderate due to their robust healthcare systems. To protect citizens from the virus, the European governments made tremendous investments in incorporating technologies in healthcare systems to help identify signs of the COVID-19 virus. In 2021, the offices resumed operations due to a reduction in lockdown measures and an increased vaccination process.

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However, manufacturers were obliged to focus more on contactless biometrics technology over the last two years due to escalating hygiene concerns and the increased danger of the COVID-19 pandemic. Further, industry players are currently concentrating more on developing biometric systems based on touchless technologies such as the face, iris, vein, and voice recognition to maintain their position in the voice biometrics market.

Growing Demand for Fraud Detection and Prevention System to Propel Voice Biometrics Market Growth in Coming Years:

Banks constantly remain on top of the best authentication methods to combat online fraud. Authentication mechanisms based on knowledge, such as PINs, passwords, and one-time passwords, have been employed by banks in the past. Further, banking security was affected by the demand for contactless and seamless technologies due to the COVID-19 pandemic.

With the advent of digitization in the financial business, fraudulent activities are expanding alarmingly. Fraudsters with access to banking credentials get access to clients’ bank accounts due to high-profile data thefts, necessitating a second or third degree of protection in the entire financial authentication system. Banks and financial institutions benefit from speech biometrics technologies that intelligently identify users based on their voiceprints.

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The voice biometrics market simplifies market user identification and authentication while improving Know Your Customer (KYC) management due to automatic calibration, active and passive authentication, liveliness detection, and panic detection. For example, Barclays uses the phrase “My voice is my password” to verify the caller’s identification, which resulted in a 20-second reduction in user verification time. Similarly, prominent banks such as HSBC, Wells Fargo, Santander Bank, N. A., and Tangerine Bank are implementing speech recognition in their call centers to speed up the identification and verification process. Further, the voice biometrics market potentially helps to improve KYC procedures. People in multilingual countries such as South Asia, for instance, have diverse degrees of schooling in different parts of the country. Moreover, voice biometrics help includes such persons in a financial safety net because the solutions are language-independent. Thus, the growing demand for fraud detection and prevention system in the BFSI industry is driving the growth of the voice biometrics market.

Voice Biometrics Market: Authentication Process Overview

Based on authentication process, the voice biometrics market is segmented into automated IVR agent-assisted, mobile applications, and employee authentication. In 2021, the agent-assisted segment held the largest voice biometrics market share.

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Browse Adjoining Reports:

Biometrics Technologies Market to 2027 – Global Analysis and Forecasts by Retail Type (Pre-Boarding and Post-Boarding); Shopping Type (Accessories, Alcohol, Beauty Products, Merchandise, and Others); Carrier Type (Full Service Carrier and Low Cost Carrier)

Biometrics Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Component (Hardware, Software); Application (Authentication, Access Control); End-User Industry (Government, Military and Defense, Healthcare, BFSI, Consumer Electronics, Travel and Immigration, Others) and Geography

Fraud Detection and Prevention Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Component (Solution and Services), Deployment (On-premises and Cloud), and End-user (BFSI, Healthcare, Manufacturing, Retail, Telecommunication, and Others)

Voice Analytics Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Component (Solution, Service); Deployment Mode (On-Premise, Cloud); Application (Call Monitoring, Sentiment Analysis, Risk and Fraud Detection, Others); End User Industry (Retail and Ecommerce, BFSI, Government, IT and Telecom, Others) and Geography

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Advanced Authentication Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Authentication Methods (Smart Cards, Biometrics, Mobile Smart Credentials, Tokens, User-based Public Key Infrastructure, Other); End User (BFSI, Healthcare, Government, Defense, IT and Telecom, Other) and Geography

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Access Control Market to 2025 – Global Analysis and Forecasts by Type (Hardware, Software, and Services) and Application (BFSI, Residential, Commercial, Healthcare, Government & Transport, and Others)

Audio Communication Monitoring Market Forecast to 2028 – Covid-19 Impact and Global Analysis – by Solution & Service (Quality Analysis, Voice Biometric System, Loudness Metering & Monitoring, and Support and Maintenance Services); Enterprise (Small & Medium Enterprise and Large Enterprise); and Application (Transportation & Logistics, Government, Telecommunication & IT, Healthcare, Media & Entertainment, BFSI and Others)

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IoT Security Market Project to Hit 41.2 billion by 2030 |IoT Security Market Growth Analysis, Industry Trends and Forecast

Overview

The #IoT security market is garnering rapid traction across the globe. Market growth attributes to the spurting rise in demand for the latest security & authentication technologies in various information sensitive industries. Besides, the rising uptake of #IoT securities in IT, BSFI, and telecom sectors create substantial market demand. Moreover, the high adoption of cloud-based technology by organizations and government agencies escalate market growth.

Market Research Future (MRFR), in its latest  IOT Security Market Analysis report, asserts that the market is poised to grow at a massive CAGR of 21.1%, the IoT security #market size is forecast to grow USD 41.2 billion by the end of the year 2030. BFSI, healthcare, and manufacturing sectors are increasingly shifting their traditional data storage methods to cloud-based data storage, thereby requiring high-security services. Also, increasing digital data transmissions via smartphones and evolving network services, namely 3G, 4G, create substantial market demand.

Additionally, the high demand for IoT security services by the healthcare sector, alongside the increased digital technology growth that has increased vulnerability of data loss or cyber-attacks in telecommunications, boosts the market growth. IoT security market trends, such as the growing integration to enhance multi-factor authentication and access management & SSO services in eCommerce sectors, accelerate the growth of the market.

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Global IoT Security Market – Segments 

The report is segmented into five dynamics;

By Type      : Network Security, Endpoint Security, Solution Security, and Cloud Security.

By Solution: Identity Access Management, Device Authentication & Management, Secure Communication, Security Analytics, Trusted Identification, Data Encryption and Tokenization, and others.

By Technology: Facial Recognition, Iris Recognition, Fingerprint Identification, and others.

By Vertical : Retail, Manufacturing, Healthcare, Transportation, Energy & Utilities, IT & Telecommunication, BFSI, and others.

By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.

Global IoT Security Market – Regional Analysis 

North America leads the global Internet of Things Security Market Size. The largest market share attributes to the rapid deployments of IoT security solutions and services across the industry verticals for securing the IoT devices and sensors. Besides, the presence of a number of industry players and efficient agencies working against cybercrimes drive the market growth in the region.

Moreover, substantial technological advancements and investments implemented to secure IoT environments foster market growth. Rapid adoption of mobile and cloud applications in banking, IT & telecom, government, energy & utility services boost the market demand colossally. The US is a technologically advanced country and dominates the regional market due to large-scale implementations of IoT solutions, followed by Canada and Mexico, respectively.

Europe stands second in the global IoT security market. The market is driven by the increasing uptake of IoT security solutions in government establishments like cyber authorities & policies to protect confidential data. Additionally, the growing adoption of advanced analytics by small and large organizations to protect IoT data pushes regional market growth.

Also, increased compromised security issues due to the rising adoption of BYOD policies and malicious software that propel the regional market growth, making sensitive information vulnerable. Furthermore, increased adoption of IoT devices and IIoT technology in the region substantiates the development of IoT security solutions. Rapidly developing countries like China and India lead the European IoT security market.

The Asia Pacific IoT security market is growing rapidly. Factors such as the increasing cyber-attacks in IT infrastructure impact the market growth in the region positively. Moreover, the rising demand for IoT solutions from the banking & financial services, media & entertainment, and manufacturing sectors increases market size.  The APAC IoT security market is forecasted to register the highest CAGR over the review period.

IoT Security Market – Competitive Analysis 

Highly competitive, the IoT security market appears fragmented due to the presence of numerous well-established players. To gain a larger competitive share, innovation, mergers & acquisitions, and brand reinforcement remain key trends for these players. The market is likely to witness intensified competition with an increase in R&D innovations and M&A.

USD 27.90 Billion Industry, Identity Theft Protection Market Size, Share, Analysis Report [2022-2029]

By

TheExpressWire

Published

#Identity Theft Protection #Market Size, Share, Trends, & COVID-19 Impact Analysis, By Type (Credit Card Fraud, Bank Fraud, Phone or Utility Fraud, Employment or Tax-Related Fraud), By Application (Consumer, Enterprise), and Regional Forecast, 2022-2029

The global identity theft protection services market size was USD 10.07 billion in 2021. The market is expected to grow from USD 11.39 billion in 2022 to USD 27.90 billion by 2029, exhibiting a CAGR of 13.7% during the forecast period. Increasing cybersecurity and identity theft risks in government and public sectors to boost the market growth. Fortune Business Insights™ mentions this information in its report titled “Identity Theft Protection Services Market, 2022-2029.”

The spike in digitalization and communications of businesses has boosted cyberattack risks and introduced a range of new risks to organizations. The rising risks of cybersecurity may propel the demand for the product from business organizations. The shift of businesses to online platforms facilitates the adoption of effective identity theft protection services, thereby boosting demand. Furthermore, increasing identity thefts in government and public sectors may facilitate adopting protection services. These factors may boost market development during the pandemic.

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Identity Theft Protection Market Size Overview:

  • USD 27.90 Billion in 2029
  • USD 11.39 Billion in 2022
  • CAGR: (2022-2029) 13.7%
  • Base Year: 2020

What Does the Report Offer?

In order to prepare this report, we have captured data on the revenue of several key players through secondary sources, such as company websites, corporate filings, annual reports, and investor presentations. We have conducted extensive interviews with key industry experts in order to track and analyze competitive developments, such as partnerships, mergers and acquisitions, new product launches, and research and development activities. Our next step included the bottom-up procedure to arrive at the overall size of the market.

Drivers and Restraints

Increasing Internet Financial Transactions to Drive Market Growth

The convenience and speed of internet services are expected to boost the product’s adoption. It empowers banks to widen their value-based services and augment consumers’ experiences. However, the increasing fraud risks necessitated the demand for identity theft protection services. For example, as per the FTC report, consumers lost nearly USD 3.3 billion in 2020, higher than the USD 1.5 billion in 2019. Furthermore, malicious data breaches in internet-based financial transactions may necessitate deploying these services. In addition, the incorporation of a united payments interface (UPI) may boost the adoption of

identity theft protection. These factors may drive the identity theft protection services market growth.

However, high costs associated with the services may impede the market development during the upcoming years.

Regional Insights

Opening of New Accounts to Boost Market Growth in North America

North America is expected to dominate the identity theft protection services market share because of the opening of new accounts. The market in North America stood at USD 4.25 billion in 2021 and is expected to gain a huge portion of the market share globally. Furthermore, government initiatives to prevent identity theft may boost identity theft protection services’ adoption.

In Asia Pacific, increasing credit card holders and extensive adoption of digital payment modes may boost the adoption of digital payment modes. Furthermore, the rising development of 5G services may fuel the identity theft protection services industry.

In Europe, increasing activities such as stealing postal mails, increasing malicious activities, and rising phishing activities may boost industry development.

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Competitive Landscape

Manufacturers Acquire Major Players to Expand their Activities

Prominent companies operating in the market acquire major players to improve business and expand their market reach. For example, Sontiq completed the acquisition of CyberScout in February 2021. This development may enable the company to expand into cyber and forensic investigations solutions. Furthermore, companies utilize mergers, partnerships, novel product launches, research and development, and collaborations to propel their market position.

Industry Development

May 2021: McAfee, LLC partnered with Fujistu Client Computing Ltd. for securing consumer PCs. The agreement allows for the effortless deployment of McAfee solutions to protect digital lives.

Companies Profiled in the Global Identity Theft Protection Services Market

  • Equifax, Inc. (Georgia, U.S.)
  • NortonLifeLock Inc. (Arizona, U.S.)
  • TransUnion LLC (Illinois, U.S.)
  • Experian Information Solutions, Inc. (New York, U.S.)
  • Malwarebytes Ltd (California, U.S.)
  • LexisNexis Risk Solutions (Georgia, U.S.)
  • AllClearID (Texas, U.S.)
  • Kroll (New York, U.S.)
  • Fair Isaac Corporation (California, U.S.)
  • McAfee, LLC (California, U.S.)

USD 3,546.80 Billion Industry, Digital Transformation Market Size, Share, Analysis Report [2021-2028]

By

TheExpressWire

Published

#Digital Transformation #Market Size, Share, Trends, & COVID-19 Impact Analysis, By Technology (Cloud Computing, Big Data and Analytics, Cybersecurity, Artificial Intelligence (AI), Internet of Things (IoT)), By Enterprise Size (Large Enterprises, SMEs), By Deployment Model (On-Premises, Cloud), By Industry Vertical ( BFSI, Manufacturing, IT and Telecommunications, Retail and Consumer Goods, Healthcare), and Regional Forecast, 2021-2028

The global digital transformation market is expected to gain impetus from the emergence of industrial automation in a wide range of industries. Robots are able to control several core industrial processes efficiently. Fortune Business Insights™ published this information in a new report, titled, “Digital Transformation Market Share, 2021-2028.” The report further states that digital transformation market size was USD 737.88 billion in 2020 and is projected to reach USD 3,546.80 billion by 2028, exhibiting a CAGR of 22.1% during the forecast period. The expansion of the automotive industry worldwide would result in the rising implementation of industrial robotics. The International Federation of Robotics (IFR), for instance, declared that in 2017, around 2.1 million stand-alone automotive and industrial robots were installed worldwide.

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Digital Transformation Market Size Overview:

  • USD 3,546.80 Billion in 2028
  • USD 737.88 Billion in 2020
  • CAGR: (2021-2028) 22.1%
  • Base Year: 2020

What Does the Report Offer?

In order to prepare this report, we have captured data on the revenue of several key players through secondary sources, such as company websites, corporate filings, annual reports, and investor presentations. We have conducted extensive interviews with key industry experts in order to track and analyze competitive developments, such as partnerships, mergers and acquisitions, new product launches, and research and development activities. Our next step included the bottom-up procedure to arrive at the overall size of the market.

Drivers and Restraints-

Increasing Adoption of Cloud Computing and Big Data to Favor Growth

Several enterprises are slowly entering into a new customer engagement era stoked by the evolving regulatory environment and rapid technological changes. In this era, digital technologies are considered to be essential. Hence, these companies are adopting artificial intelligence, cloud computing, and big data technologies to bolster the organizational growth. They are striving to change conventional business models to modern strategies. However, the increasing risks of security breaches and cyber-attacks may hinder the digital transformation market growth in the near future.

Regional Insights-

Rising Penetration of Internet to Accelerate Growth in North America

Geographically, North America generated USD 234.7 billion in 2020. It is expected to remain at the forefront fueled by the increasing penetration of the internet in a wide range of industry verticals, such as manufacturing, retail, and healthcare. On the other hand, Europe is anticipated to grow significantly on account of the rapid digitalization in economies and societies. In Asia Pacific, the digital transformation industry is likely to grow remarkably attributable to the need to automate labor-intensive tasks by using robots in China.

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Competitive Landscape-

Key Players Aim to Fulfil Demand by Introducing State-of-the-art Solutions

The global market possesses a large number of companies that are majorly focusing on launching innovative solutions to cater to the specific requirements of users. Below are the two latest industry developments:

October 2020: Oracle launched its Oracle Cloud Observability and Management Platform. This would aid customers to remove the cost, risk, and complexity associated with managing on-premises and multi cloud environments.

February 2019: SAP SE introduced SAP Leonardo Internet of Things (IoT) capabilities. These would drive and generate digital transformation for Industry 4.0 and Industrial IoT. The company also unveiled cloud-to-cloud interoperability with Microsoft Azure IoT Hub.

SOC as a Service Market worth $10.1 billion by 2027 – Exclusive Report by MarketsandMarkets™

CHICAGO, May 17, 2022 /PRNewswire/ — According to research report “SOC as a Service Market by Component, Service Type (Vulnerability Assessment & Threat Detection, and Incident Response), Offering Type (Fully Managed & Co-managed), Application Area, Industry Vertical and Region – Global Forecast to 2027″, published by MarketsandMarkets™, the #market size is expected to grow from an estimated value of USD 6.1 billion in 2022 to USD 10.1 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 10.5% from 2022 to 2027. Some of the factors that are driving the market growth includes cumbersome administration after threat detection, surge in trends such as BYOD, CYOD, and WFH and an exponential rise in security breaches and sophistication of cyberattacks. However, scarcity of skilled cybersecurity professionals among enterprises is expected to hinder the market growth.

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462 – Tables
51 – Figures
339 – Pages

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By service type, Incident response segment to grow at a higher CAGR during the forecast period

Based on service types, the SOCaaS market is segmented into two categories such as vulnerability assessment & threat detection and incident response. These services assist organizations in protecting systems from exploitation and data losses. A major trend influencing the SOCaaS market is the complexity of the advanced technologies. The incident response service refers to a predefined and an organized set of procedures and approaches that need to be followed in the event of cyberattacks, which are also known as cyber incidents, security incidents, and Information Technology (IT) incidents. The service is a systematic process to manage and address complex cyberattacks post-detection, and help enterprises recover IT damages and data losses. It helps organizations handle and manage not only the aftermath of attacks but also define a clear set of protocols that need to be followed before and during security incidents.

By organization size, SMEs to grow at a higher CAGR during the forecast period

Based on organization size, the SOCaaS market is segmented into large enterprises and SMEs. This segmentation has been done based on the number of employees working in organizations. Small businesses are expected to witness faster growth in the adoption of SOCaaS. SMEs are defined as organizations with an employee strength ranging from 1 to 1,000. In the current scenario, SMEs face different IT challenges due to their small staff and tight financial budget. Managed services are becoming necessary for SMEs due to high-security risks as they do not follow any formal security policies. In the case of SMEs, cybersecurity comes into consideration after a cyberattack has happened. The increasing demand for security from SMEs for improving their productivity and pooling of knowledge base has triggered vendors to provide services at a lower cost. SOCaaS is the best fit for SMEs as cost-effectiveness is the biggest advantage. The adoption and acceptance of SOCaaS by SMEs will help expand their customer base and enhance business efficiency. 

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By region, Asia Pacific to grow at the highest CAGR during the forecast period

In recent years, APAC has undergone tremendous economic growth, political transformations, and social changes. Due to the increasing sophistication levels of threats, countries such as China, India, and Japan have all updated or introduced new national cybersecurity policies. These countries have many established SMEs, which are growing at an exponential rate to cater to their large customer base. To increase production speed and business performance organizations are transforming their businesses to cloud. cloud-based applications is widely being adopted by verticals such as BFSI, government, and IT and telecom to reduce their overall cost, which is driving the demand for cloud-based security solutions. Increasing frequency of security breaches, the growing stringent government regulations, and the rising adoption of standard security or traditional security solutions

Key Players:

Major vendors in the SOC as a Service Market include AT&T (US), IBM (US), NTT (Japan), Verizon (US), Proficio (US), ConnectWise (US), Fortinet (US), Atos (France), TCS (India), Check Point (Israel), Cloudflare (US), Kaseya (US), Arctic Wolf (US), ESDS Software Solutions (India), Suma Soft (India), Clear Network (US), Stratosphere Network (US), Silversky (US), Expel (US), Binary Defense (US), eSentite (Canada), Cyrebro (Israel), Segra (US), SecureKloud (India), Nettitude Ltd (UK), Radar Cybersecurity (Austria), IARM Information Security (India), CyberSecOp (US), eSec Forte(India), Cysiv (US), Airbus Cybersecurity (France), Novacoast (US), Cyflare (US), Tracelay (India), Bitlyft (US), SafeAeon (US), SOCwise (Hungary), Eventus Tech Solutions (India).

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Global Software Defined Perimeter Market Is Expected To Grow Steadily At CAGR Of 34% In The Forecast Period Of 2021-2026

Global Software Defined Perimeter Market Size, Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2021-2026 | EMR Inc.

 Expert Market ResearchMay 12, 2022

 4 4 minutes read

The new report by Expert Market Research titled, ‘‘Global Software Defined Perimeter Market Size, Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2021-2026’, gives an in-depth analysis of the global software defined perimeter market, assessing the market based on its segments like enforcement point, component, deployment mode, organisation, end-use and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2021-2026)

  • Historical #Market Size (2020): USD 2.4 billion
  • Forecast CAGR (2021-2026):  34 %
  • Forecast Market Size (2026): USD 13.8 billion

https://www.magnolianews.net/Content/global-software-defined-perimeter-market-is-expected-to-grow-steadily-at-cagr-of-34-in-the-forecast-period-of-2021-2026/

IoT Security Market to Reach $59.16 Billion by 2029 — Exclusive Report by Meticulous Research®

According to a new market research report titled, “#IoT Security Market by Component (Solutions, Services), Type (Network Security, Cloud Security), Deployment Mode, Organization Size, Application (Smart Manufacturing, Smart Retail), End-use Industry (Manufacturing, Retail, and Others) — Global Forecasts to 2029”; from Meticulous Research®, the global IoT security market is expected to grow at a CAGR of 21.2% from 2022–2029 to reach $59.16 billion by 2029.

The Internet of Things (IoT) security is a technological solution used for safeguarding networks of connected devices. The security solutions aim to eradicate vulnerabilities and equip devices to identify, resist and recover from cyber-attacks. Several industries and organizations, including manufacturing, government, retail, and healthcare, are deploying this technology worldwide on a considerable scale. Growing IoT deployment, the increasing number of ransomware attacks on IoT devices, and growing IoT security regulations are the key factors driving the growth of the IoT security market. However, the increase in new variants of IoT threats and the negative impacts of the COVID-19 pandemic on the global economy are expected to restrain the growth of this market.

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Impact of COVID-19 on the IoT Security Market

The COVID-19 pandemic adversely impacted the global economy. Several countries imposed strict lockdowns to contain the infection, leading to the closure of manufacturing industries and disruptions in supply chains and production schedules. There have been significant impacts on technology supply chains globally. Uncertainty regarding the duration of the lockdowns and supply chain disruptions made it an arduous task for industry players to anticipate the resurgence in the IoT security industry. Thus, the crisis caused structural shifts that had significant implications on this industry.

The lockdown negatively impacted the manufacturing, automotive, retail, and transportation industries. However, the adoption of IoT security witnessed a significant rise in the healthcare sector. The rapid spread of the COVID-19 outbreak strained the global healthcare networks and systems, affecting critical, life-saving operations and processes. Also, with the rise of telemedicine and remote working due to the COVID-19 pandemic, vigilance became an even greater priority in the healthcare sector. Therefore, healthcare facilities increasingly adopted IoT security technology to control fraud related to health devices and patient data security. Also, IoT security solutions play a significant role in handling uncertainties in the manufacturing sector. These solutions facilitate secure communication, unified threat management, and identity and access management. Such applications have helped the IoT security market sustain during the COVID-19 crisis.

The global IoT security market is segmented based on component (solutions, services), type (network security, endpoint security, application security, cloud security, other security types), deployment mode (on-premises, cloud-based), organization size (small & medium enterprises, large enterprises), application (smart manufacturing, smart retail, smart energy management, connected cars, connected logistics, connected healthcare, smart supply chain, other applications), end user (manufacturing, government & public, retail, consumer electronics, automotive, healthcare, energy & utilities, supply chain & logistics, transportation, and other end users). The study also evaluates industry competitors and analyses the market at the country level.

Based on component, the solutions segment accounted for the largest share of the IoT security market in 2021. The large share of this segment is mainly attributed to the growing number of IoT deployments, the increasing focus on solution-centric security capabilities, and the rising vulnerabilities on IoT devices. In addition, the benefits offered by IoT security, such as high performance, reliability, comprehensive vulnerability coverage, efficiency, and real-time applications, further augment the growth of this segment. However, the service segment is expected to record the fastest growth during the forecast period due to the wide adoption of IoT security services across numerous industry verticals.

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Based on type, the network security segment accounted for the largest share of the IoT security market in 2021. The large share of this segment is mainly attributed to the rising incidences of data breaches, the growing demand for filtering and monitoring network traffic, and the increasing need to protect connected network infrastructure. However, the cloud security segment is expected to record the fastest growth during the forecast period. The rising need to secure workload on the cloud is expected to support the growth of this segment.

Based on application, the smart manufacturing segment accounted for the largest share of the IoT security market in 2021. The large share of this segment is mainly attributed to the growing cybersecurity risks, the rising demand for real-time security monitoring, and the growing automation in the industry. However, the connected logistics segment is expected to record the fastest growth during the forecast period.

Based on geography, North America accounted for the largest share of the global IoT security market in 2021. The large market share of North America is attributed to the presence of prominent players offering advanced IoT security solutions and services to various sectors in the region. Also, in 2020, the U.S. government passed a new IoT cybersecurity law, the NIST Internet of Things Cybersecurity Improvement Act, to increase cybersecurity for IoT devices. Thus, favorable government initiatives across the region and investments by major IoT security companies are further accelerating the growth of this market in the region.

However, Asia-Pacific is expected to witness rapid growth during the forecast period. The region is transforming dynamically with respect to the adoption of new technologies across various sectors. The infrastructural growth in APAC, especially in China, South Korea, Australia, Singapore, Japan, and India, and the high IoT penetration provide huge opportunities for the IoT security solution. For instance, according to GSMA Intelligence, the number of IoT connections in Asia-Pacific is expected to grow to 11.5 billion by 2025.

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The report also includes an extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past four years (2019–2022). The IoT security market has witnessed a number of product launches in recent years. For instance, In 2019, FogeRock introduced its open-source IoT Edge solution to deliver trusted ecosystems at the edge. Similarly, in 2020, Checkpoint introduced its IoT protection solution to secure both IoT devices and networks in smart building, smart city, healthcare, industrial, and critical infrastructure environments against all types of advanced Gen VI cyber-threats.

The key players operating in the IoT security market are Cisco Systems, Inc. (U.S.), Forescout Technologies, Inc. (U.S.), Fortinet, Inc. (U.S.), Palo Alto Networks, Inc. (U.S.), Rapid7, Inc. (U.S.), Armis, Inc. (U.S.), Microsoft Corporation (U.S.) Entrust Corporation (U.S.), Karamba Security Ltd. (Israel), ForgeRock, Inc. (U.S.), IBM Corporation (U.S.), Checkpoint Software Technologies, Ltd. (Israel), Allot Communications Ltd. (Israel), JFrog, Inc. (U.S.), Broadcom, Inc. (U.S.), and PTC, Inc. (U.S.).

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Cybersecurity Market by Type (Network Security, Endpoint Security, Application Security, Cloud Security), Solution (Unified Threat Management, Antimalware, Firewall, Disaster Recovery, Web Filtering, DDS Management, Encryption) – Global Forecast to 2027

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Global Health IT Security Market Expanding at a CAGR of 15.0% during the forecast (2015-2022)

The global health IT security market is estimated to expand at a CAGR of 15.0% during the forecast period of 2015 to 2020. The growth of the market for health IT security is prognosticated to be driven by many factors including rise in the number of #healthcare data breaches across the globe.

Government authorities of several nations around the world are implementing stringent regulations related to patient data safety. This factor is anticipated to fuel the sales prospects in the global health IT security market in the years to come. Moreover, the market for health IT security is being driven by increase in investments by venture capital firms, growing number of interconnected medical devices, and rising use of mobile devices across the globe.

Some of the key services offered by companies operating in the global health IT security market include identity and access management solutions, antivirus and antimalware, risk and compliance management solutions, encryption and data loss protection (DLP) solutions, intrusion detection/intrusion prevention systems (IPS), and firewalls and unified threat management (UTM) solutions. Rise in the demand for these services globally is generating sizable sales avenues in the market for health IT security.

The health IT security market is anticipated to gain lucrative prospects owing to development of cloud computing and advanced IT security solutions globally. However, the market for health IT security is estimated to experience sluggish growth owing to many factors including restricted expenditure on IT security in healthcare organizations and scarcity of cyber security professionals.

Players operating in the health IT security market are increasing expenditure on R&D activities in order to develop highly advanced solutions. Moreover, companies in the health IT security market are indulging in strategies such as partnerships, collaborations, and joint ventures in order to expand their businesses in newer regions.

Health IT security is needed by organizations to combat cybercrime and ransomware that hospitals and healthcare organizations are susceptible to. The complex infrastructure and the range of devices used by healthcare organizations provide a host of entry and pivot points that cybercriminals can exploit. This requires hospitals and healthcare organizations to be equipped to sustain the evolving threat landscape and comprehend the most common areas of cyber security risk.

Amongst all attacks that hospitals and healthcare organizations are susceptible to, ransomware has surfaced as the most feared hacking technique. The technique has the potential to allow hackers to seal access to data until a sum of money is paid to them. As per findings of a recent research, hospitals are the target of 88% of cases of ransomware. The other areas that pose risk of data breach for hospitals and healthcare organizations are inadequately secured IoT devices and human error element. This, along with HIPPAA and other regulatory requirements necessitate health information to be protected. Healthcare organizations have plentiful serious security considerations that must be timely addressed in order to ensure patient safety and privacy.

Healthcare organizations are implementing a number of processes to maximize the security effort and attain compliance. These are establishing a security plan, prioritize offline storage, secure biomedical devices, educate users, and train patients. This is because information security and patient privacy are key components of a well-operating healthcare environment. Moreover, the privacy and security realms of healthcare information and management systems society (HIMSS) provide resources so as to assist healthcare organizations with their privacy and security goals.

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Global Health IT Security Market: Overview

Increasing incidences of highly specialized and extensive data security breaches in the healthcare industry has brought to the fore the pressing need to employ effective security measures across healthcare IT systems. Data breaches continue to cost the healthcare industry hefty sums on an annual basis, with countries having technologically advanced healthcare infrastructures such as the U.S. and several European countries suffering the most. As a result, the tremendous monetary pressure as well as negative publicity that weak cybersecurity can bring to an organization is garnering increased focus and the healthcare industry is ramping up its spending on IT security.

This report on the global health IT security market presents a detailed overview of the growth dynamics of the market in present times and includes vast projections regarding the growth prospects of the market over period between 2016 and 2024. The report includes comprehensive qualitative as well as quantitative data pertaining to key market segments and their valuation, expected rate of growth over the mentioned period, and overall attractiveness across regional markets.

Global Health IT Security Market: Trends and Opportunities

The healthcare industry is coming to terms with the fact that data breaches have been consistently rising in terms of impact, frequency, volume, and cost over the past few years. Also, the fact that data breaches in present times are highly professional in the way they are planned and executed makes it necessary for healthcare organizations to be equally proactive and prepared in the way security of the organization is planned and executed. The need to assess the present state of security readiness and implement a much more effective security model is the key factor driving the global health IT security market.

The market is also driven by the increasing penetration of mobile devices in internal networks of a healthcare IT infrastructure, stringent regulations, and rising spending by government bodies on IT security. Evolution of highly effective futuristic IT security solutions for the healthcare industry and the increasing adoption of cloud computing models for accessing IT security solutions at economical and pay-as-use pricing models are also fueling the adoption of health IT security solutions globally.

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Global Health IT Security Market: Segmentation

The key product varieties offered by the health IT security market include risk and compliance management solutions, disaster recovery, firewalls and unified threat management solutions, antimalware and antivirus, intrusion detection/intrusion prevention systems, and identity and access management solutions. On the basis of services, the health IT security market can be segmented into upgradation, maintenance, implementation, managed services, consulting, and on-going support.

The key applications of health IT security solutions are found across areas such as endpoint security, content security and network security. Based on the mode of delivery of health IT security solutions, the market is segmented into on-premise, cloud, and hybrid. The key end users of health IT security solutions are healthcare payers (insurance firms) and healthcare providers.

Global Health IT Security Market: Regional and Competitive Outlook

From a geographical perspective, developed regions such as Europe and North America are the leading contributors to the revenue of the global health IT security market. The digitally and technologically advanced healthcare infrastructures in these regions have been the prime targets of the recent times’ most costly and sophisticated cyber-attacks. In response to this, these regions are significantly increasing spending on cybersecurity. These regions are expected to remain the leading contributors to the global market in the next few years as well.

In the highly competitive and fragmented vendor landscape of the global health IT security market, no major vendor accounts for a dominant share. Some of the leading companies operating in the market are Intel Corporation, SailPoint Technologies, Symantec, Hewlett Packard, AT&T, EMC Corporation, IBM Corporation, Wipro, and Verizon.

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Payment Security Market Worth $54.1 Billion by 2028 – Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Meticulous Research®

REDDING, Calif., May 4, 2022 /PRNewswire/ — According to a new market research report titled, “Payment Security Market by Offering (Solution, Services), Platform (Web, PoS), Payment Mode (Cards, Digi Wallets, Internet Banking, PoS), Vertical (Retail, Travel, Healthcare, IT & Telecom, Media), Organization Size, and Region – Global Forecast to 2028″, the #payment security market is expected to grow at a CAGR of 16.5% from 2021 to 2028 to reach $54.1 billion by 2028.

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Online payment security solutions are used to frame and regulate rules, regulations, and security measures to protect customers’ privacy, data, and the money involved during any form of the online transaction. Secure payment processing facilitates the hassle-free and safe transfer of online payments, client data, and other sensitive information and protects against fraud and other security issues. As payments through electronic mediums are becoming common among consumers, the threats to online payment confidentiality and integrity have also escalated.

Increased adoption of digital payment approaches, the need to adhere to PCI DSS guidelines, and the rise in fraudulent activities in e-commerce are the major factors driving the growth of this market. In addition, the increasing use of payment applications across different industry verticals is expected to offer prominent growth opportunities for the growth of this market. However, the lack of trust in online banking is expected to restrain the growth of this market.

The Impact of COVID-19 on the Payment Security Market

The outbreak of the COVID-19 pandemic resulted in increased usage of digital payment modes, leading to a significant increase in the growth of the payment security market. According to ACI Worldwide Inc., a payment systems company, real-time payments are expected to witness exponential growth due to the COVID-19 pandemic, with more than half a trillion transactions and a compound annual growth rate of almost 23% between 2019 and 2024.

Digital payment firms such as PhonePe, Paytm, and Amazon Pay witnessed a nearly 50% spike in transactions through their digital wallets since the COVID-19 pandemic, particularly in India. The sudden increase in digital adoption dramatically advanced the digital transformation agendas for numerous banks, with banking leaders recognizing online banking services as a critical means for increasing customer retention and growing revenue streams through personalized services. The impact of the COVID-19 pandemic accelerated the adoption of a broad range of digital banking offerings and shifted consumers of all ages away from traditional banking branches and ATMs at an unprecedented pace.

The COVID-19 pandemic accelerated consumer interest in adopting digital banking and payments interactions. For example, Americans set a record with 1.2 billion transactions on the instant payment network Zelle in 2020, a 62% increase from the previous year. Meanwhile, in October 202, more than 53% of consumers who had access to a smartphone and a bank account stated that there had been an increase in the utilization of banking apps compared to the pre-COVID-19 pandemic scenario (Source: MasterCard).

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The increased usage of digital transactions increased cyber-crime attacks. There has been a gradual increase in payment fraud activities at organizations. Nearly 75% of organizations were targets of payment fraud attacks in 2020 (Source: JP Morgan). Thus, increasing payment-related frauds are expected to propel the growth of the payment security market in the coming years.

To arrive at the most precise impact assessment for the payment security market, Meticulous Research® applied different scenarios to estimate the #market size. As the demand for payment security solutions increased among end users from various sectors, including healthcare, pharmaceuticals, e-commerce, and manufacturing, significant developments were observed in the payment security market post-COVID-19. Market forecasting was performed by assessing the impact of COVID-19 on individual payment modes, and the revenue growth patterns of key players from each payment mode segment were considered for market estimation.

Increased adoption of digital payment modes is expected to drive the payment security market growth

In the past few years, major advances in technology, massive shifts in consumer buying behavior, government policies and regulations, sharp e-commerce growth, and the global proliferation of connected devices have driven significant changes in digital payments.

The adoption of digital payment modes, such as internet banking, mobile money, and card payments, has rapidly increased in recent years and is a cornerstone for financial inclusion initiatives in various countries. Payments are becoming increasingly cashless, and the industry’s role in fostering inclusion has become a significant priority. Rising government initiatives for the adoption of digital payments, the proliferation of smartphones, increasing e-commerce sales, and rising internet penetration are driving the adoption of various digital payment modes worldwide.

According to a report by FIS (U.S.), a financial services technology group, the use of digital-wallet-based transactions grew globally by 7% in 2020 and predicts that digital wallets will account for more than half of all e-commerce payments worldwide by 2024, as consumers shift from card-based to account and QR code-based transactions.

In addition, due to the COVID-19 pandemic, the adoption of contactless payment methods increased worldwide as consumers preferred low- or no-touch interactions. Digital wallets are becoming the mainstay of in-store payment choices, with contactless cards, kiosk payments, and QR codes increasing in popularity for a safer commerce experience. According to Visa’s Back to Business Study, 63% of consumers indicated switching to a business offering contactless payment options.

Furthermore, the sudden increase in digital adoption has dramatically advanced the digital transformation agendas for many banks, with banking leaders recognizing online banking services as a critical means for increasing customer retention and growing revenue streams through personalized services.

The impacts of the COVID-pandemic accelerated the adoption of a broader range of digital banking offerings and shifted consumers of all ages away from traditional banking branches at an unprecedented pace. Thus, the rising adoption of different payment modes has accelerated the demand for payment security solutions as secure payment processing facilitates the transfer of online payments, client data, and other sensitive information and protects against fraud and other security issues.

To provide efficient analysis, Meticulous Research® has segmented this market based Offering (Solution (Encryption, Tokenization, Fraud Detection & Prevention) & Services (Integration Services, Support Services & Consulting Services)), Platform (Web Platform & PoS Platform), Payment Mode (Banking Cards, Digital Wallets, Internet Banking, Point of Sales and Others), Industry Vertical (Retail, Travel and Hospitality, Healthcare, IT and Telecom, Education, Media and Entertainment), By Organization Size (Large Enterprises, Small and Medium-Sized Enterprises) and geography (Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa).

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Based on offering, the payment security market is segmented into solutions and services. In 2021, the solution segment commanded the largest share of the overall payment security market. Additionally, this segment is expected to grow at the highest CAGR during the forecast period. The rising demand for advanced payment security solutions, particularly from the e-commerce sector, and the surge in the usage of payment applications across different industry verticals are driving the growth of this market.

With the enforcement of the PCI DSS regulatory compliances by local governing bodies, digital payments have become a secure mode of payments, and hence, digital payments are gaining popularity amongst consumers. In addition, the growing number of data breaches and financial losses associated with digital transactions is also one of the primary factors contributing to the growth of the payment security solutions market.

Based on platform, the payment security market is broadly segmented into web and PoS. In 2021, the web platforms segment commanded the largest share of the overall payment security market. The large share of this segment is attributed to the increasing adoption of digital payment platforms worldwide. Furthermore, the increasing demand for secure and integrated ways to pay for any service or product is expected to drive the growth of this segment.

However, the PoS platforms segment is expected to grow at the highest CAGR during the forecast period. The positive encouragement by the government for the adoption of PoS technology, the rising demand for easy & convenient payment methods, and security & privacy concerns associated with PoS terminals are expected to drive the growth of this segment.

Based on payment mode, the payment security market is segmented into banking cards, digital wallets, internet banking, point of sales, and other payment modes. In 2021, the digital wallets segment commanded the largest share of the overall payment security market. Additionally, this segment is expected to grow at the highest CAGR during the forecast period. The emergence of multiple smartphone-enabled payment platforms, the availability of real-time payment solutions, social media influencing digital wallets promotion, and the increasing shift towards QR code-based transactions are some of the major factors driving the growth of this segment.

Based on industry vertical, the payment security market is segmented into retail, travel and hospitality, healthcare, IT and telecom, education, media and entertainment, and other industry verticals. In 2021, the BFSI segment commanded the largest share of the overall payment security market. The growth of this segment is attributed to the positive surge in the implementation of regulatory security compliance, the rising demand for cloud-based security solutions, and the increasing risks of cyber threats against BFSI infrastructure. However, the retail segment is expected to grow at the highest CAGR during the forecast period. The increasing usage of mobile payments in the retail industry, primarily in the e-commerce sector, and proportionally rising associated frauds are boosting the payment security market.

Based on organization size, the payment security market is broadly segmented into large enterprises and small and medium-sized enterprises. In 2021, the large enterprises segment commanded the largest share of the overall payment security market. Additionally, this segment is expected to grow at the highest CAGR during the forecast period. The increasing number of high valuations transactions in large enterprises is compelling these enterprises to opt for premium payment security solutions. In addition, the growing necessity to create a safe environment for payment transactions of customers is expected to drive payment security adoption among large enterprises.

Based on geography, the payment security market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa (MEA). In 2021, North America accounted for the largest share of the overall payment security market, followed by Asia-Pacific, Europe, Latin America, and the Middle East & Africa. The high penetration of smartphones, the increase in internet speed and reliability, and a growing user base of tech-savvy millennials in North America provide prominent opportunities for payment security market growth and integration. In addition, the increasing shift in consumers towards online payments mode due to the conveniences offered is driving the growth of this market.

However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period. The market growth in this region is driven by the increasing adoption of advanced payment technologies within organizations to perform business transactions. In addition, the positive encouragement by the governments for the adoption of digital payments and the growing number of fraudulent activities associated with digital payments is promoting market growth in Asia-Pacific.

The key players operating in the global payment security market are Bluefin Payment Systems LLC (U.S.), Braintree (U.S.), Cybersource (U.S.), Elavon (U.S.), Ingenico (France), Broadcom, Inc. (U.S.), Thales Group (France), Shift4 Payments, LLC (U.S.), Signifyd (U.S.), TNS, Inc. (U.S.), TokenEx (U.S.), SISA Information Security Pvt. Ltd. (India), Stripe (U.S.), GEOBRIDGE Corporation (U.S.), MasterCard (U.S.), and Verifone Systems Inc. (U.S.).

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Network Encryption Market to Surpass US$ 8.2 Bn by 2032

According to the network encryption market analysis by Future Market Insights (FMI), the demand registered in the market will grow at a healthy CAGR of 7.5% from 2022-2032. 

The report also forecasts that the market will surpass a valuation of ~US$ 4.0 Bn by the end of 2022. As per FMI, rapid technological advancements and introduction of artificial intelligence, machine learning, network security and cyber security have created prospects for network encryptions. These technologies have become essential in improving economic competitiveness, thereby propelling the market growth. 

As more IoT products enter the market, new security and policies will likely be established to prevent cyber assaults and the theft of personal information. IoT products are sophisticated, hence it will be critical to manage the risks that come with them. On the back of these factors, the #network encryption market is anticipated to grow at a significant rate. 

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Key Takeaways  

  • By solution, network encryption platforms segment is anticipated to account for the leading share 46.4% in the global demand for network encryption during the forecast period. 
  • By enterprise size, the adoption of network encryptions in small enterprises is anticipated to increase at a CAGR of 8.9% between 2022 & 2032. 
  • By industry, the adoption of network encryptions in healthcare is anticipated to increase at a CAGR of 11.7% between 2022 & 2032, while BFSI segment is currently dominating the market share. 
  • North America is expected to lead the market followed by Europe in 2021.  
  • South Asia & Pacific is anticipated to emerge as the fastest growing region between 2022 & 2032. 

https://www.digitaljournal.com/pr/network-encryption-market-to-surpass-us-8-2-bn-by-2032

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