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Business Data Digitization to offer Favorable Opportunities for Global Cyber Situational Awareness Market Growth
CYBER SITUATIONAL AWARENESS MARKET
"Browse 63 Market Data Tables and 58 Figures spread over 235 Pages, along with an in-depth TOC on the Global Cyber Situational Awareness Market Forecast 2021-2028."
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Situational awareness aids in making the information and understanding available to make informed decisions. It also helps them in protecting their assets in the cyber realm. It aids in minimizing the potential human errors and resultant damages. Further, it allows organizations to establish threat intelligence sharing channels.
Digitization of Business Data Propels Market Growth
Electronic data has become integral to the current business model, given the advantages like easy storage of large amounts of data, processing speed, and cost effectiveness. Sectors like healthcare, education, retail, and manufacturing adopt electronic media for data storage on electronic media. EDI (Electronic Data Interchange) is increasingly prioritized in several sectors. This is attributed to the growing need to enhance business efficiency. Electronic data is either stored on devices or exchanged, which are vulnerable to attacks from entities.
The electronic health record trend is on the rise in the healthcare sector. As a result, there is an increasing need in hospitals to protect their electronic records from data breaches. Such developments have raised the need for competent cyber situational awareness systems.
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Services is the Fastest-Growing Component
Services minimize the costs and time related to the system optimization in the initial phase of deployment. They help in deploying and integrating distinct IT solutions in an enterprise ecosystem, since they are an essential part of an organization. The increasing adoption of services among end-users is accredited to the efficient functioning of software and platforms. The increasing adoption of such platforms and software is projected to surge the demand for services. Some major services include consulting, managed detection response & services, next generation network security management, support & maintenance, etc.
Asia-Pacific is the Fastest-Growing Region
Social media, apps, and cell phones are surging in the Asia-Pacific region, thereby increasing the demand for the cyber situational awareness market. With several enterprises dependent on cloud services, the risk of cyberattacks is on the rise. Also, many companies are adopting managed security services for their network protection.
The competitive rivalry in the market is characterized by the presence of several regional and global players contesting for fair market space. The market has moderate barriers with regard to the entry of new players. Moreover, many new entrants have gained traction in the market. SAS Institute, IBM Corporation, Palo Alto Networks Inc, Honeywell International, etc., are among the market's main players.
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GLOBAL CYBER SECURITY MARKET
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