Digitalization and technology advancement leading to cyber security threats is providing new opportunities to the cyber situational awareness market.
Covid-19 Impact & Market Status
The COVID-19 situation had a severe impact on various industries and business companies. Due to lockdown, many companies faced a downfall in their work and progress as there was the unavailability of various services, infrastructure, laborers, transportation, and much more. Despite all these issues, the cyber situational awareness market lifted its progress during the COVID-19 period also. This is because of the shifting of offline work in online mode. With this shift, various organizations started using online platforms for data transfer and information sharing. This increased the usage of cyber security software and devices to ensure data protection and quality delivery of information.
Among all the available deployment platforms, the cloud requires high-security protection due to high networking interfaces.
The cloud deployment platform is highly preferred by almost all developing and developed organizations as it supports high networking and connection within various embedded and external devices. It supports various communication channels and provides a huge data volume to store the coming data systematically. These features make the cloud platform the most suitable choice. These features are also responsible for the high-security issue related to the cloud as it provides direct access to the external connections to store or retrieve data. Hence, it can suffer from various cyber attacks as a malicious hacker can connect with any of the connected devices or software platforms to interrupt the main system.
Hence, the cloud platform requires high security to protect against any malicious attack and secure the project.
The growing technical advancements for cyber security and digital platforms are driving the global cyber situational awareness market.
There is a tremendous increase in the number of developing industries and business companies leading to an increase in the amount of information generation. With the increasing amount of data and information comes the increased responsibilities for securing and maintaining data. Hence, there is an urgent need for the development of a platform or a network pipeline that would ensure safe generation, delivery, and storage of data during the process and after the completion of the process cycle
The growing rate of data generation increases the risk of cyber attacks as data handling and data storage are very important tasks. The information loss or corruption can severely affect the organization and interrupt its growth and development.
The market value of global cyber situational awareness market is estimated to reach close to USD 150.66 Billion in the forecast span with an annualized growth rate of 21.68%.
The implementation of proper and required cyber situational awareness models helps an organization to secure its data, gadgets, and software from the initial stage of the development lifecycle. Hence, the cyber situational awareness market comes with a wide variety of options for different organizations depending on the requirements and scope of their project. The scope of the project is very essential as it limits the features required for the security model depending on the type and number of electronic gadgets available for the project development.
One might find various websites that require private information like email id, mobile number, address, OTP, etc. All of these websites are not secure, hence, one needs to check and confirm the domain of the websites that he is visiting to eliminate any risk or attack to his device. For this, there is various cyber security software available that blocks such malicious activities to protect your device, attached hardware, and information stored in your computer.
The antivirus software or security hardware or software should be updated regularly as they require heavy maintenance. This is because the internet is constantly involved in numerous activities and transactions that change with the update of technologies. Hence, your security software should be able to handle advanced risks and other malicious activities. For this, you must maintain and upgrade the cyber situational security devices so that they function properly.
Many potential organizations across the world are paying high attention to the cyber situational awareness market because all the international transactions and trade are done via online platforms. Hence, most of the confidential data lie over the internet and needs high security. This data is confidential and contains very important information about trade, policies, etc. of a nation, company, or any other essential service. Hence, high-security software and other hardware devices are required that are generated by many potential companies.
Among all the nations, North America dominates the security market by investing heavily in the development of the cyber situational awareness market. With this, they hold a high revenue share of the cyber situational awareness market as many potential companies are based in North America and are working heavily to provide online security software platforms that will secure the data that is generated and flows via the internet.
Despite all these advancements, the implementation of the cyber situational awareness market is difficult due to its complex nature and the technologies involved. The flow of data over the internet is highly dynamic, hence, its security is very complicated as it requires handling the network architecture, database management systems, and many other related platforms that help in data generation, processing, storage, testing, etc.
The data generation via electronic devices is also increasing which leads to the implementation of various hardware security devices. Also, it has applications in various sectors including educational, healthcare, entertainment sectors, and much more.
The major players of the global cyber situational awareness market are IBM, Paolo Alto Network, Darktrace, Verint, MarkLogic, Palantir, Firemon , SAS, Honeywell, DXC Technology, Microsoft, Field Effect Software, L3 Technologies, and Cyware.
Latest Innovations in the Global Cyber Situational Awareness Market: a Snapshot
- With the involvement of various advanced technologies like artificial intelligence, big data analysis, and machine learning, threat intelligence platforms are developed to ensure high security.
Cyber Situational Awareness Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 150.66 Billion|
|Growth Rate||CAGR of 21.68% during 2021-2028|
|Segment Covered||Component, Solution Type, Deployment Model, Organization Size, Industry Vertical, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||IBM, Paolo Alto Network, Darktrace, Verint, MarkLogic, Palantir, Firemon , SAS, Honeywell, DXC Technology, Microsoft, Field Effect Software, L3 Technologies, and Cyware.|
Key Segments of the Global Cyber Situational Awareness Market
Component Overview, 2018-2028 (USD Billion)
Solution Type Overview, 2018-2028 (USD Billion)
- Network Forensics
- Network Traffic Analysis
- DNS Threat Analysis
- Network Detection & Response
- Network Performance Monitoring & Diagnosis
- Intrusion Detection System
- Intrusion Prevention System
Deployment Model Overview, 2018-2028 (USD Billion)
Organization Size Overview, 2018-2028 (USD Billion)
- Small Enterprises
- Medium Enterprises
- Large Enterprises
Industry Vertical Overview, 2018-2028 (USD Billion)
- Military & Defense
- Marine Security
- Oil & Gas
- IT & Telecom
- Government Agencies
- Energy & Utilities
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and South Africa