Press release
Global Cyber Situational Awareness Market Size To Grow At A CAGR Of 22.76% In The Forecast Period Of 2023-2028
The key highlights of the report include
Market Overview 2018-2028
• Forecast CAGR (2023-2028): 22.76%
The major drivers aiding the market revenue growth of cyber situational awareness are the rapid adoption of the Internet of Things (IoT) and bring your own device (BYOD). These factors have been resulting in an increase in the number of connected devices, generating large volumes of data that need to be managed effectively.
A cyber situational awareness system aids in storage infrastructure analysis and lowers overall risk, creating a secure location for such data, due to which popularity of cyber situational awareness is on the rise. The use of mobility solutions in transforming military tactical operations, the rising demand for situational awareness solutions in aerospace, and the growing significance of cybersecurity situational awareness to prevent cyberattacks are the primary drivers of the growth of the cyber situational awareness market.
In order to safeguard digital assets and processes from cyberattacks, businesses need to be able to recognise, analyse, and resolve risks and vulnerabilities in real time. The cyber situational awareness market has seen a significant increase in demand as a result of technological improvements. The demand for such systems is also being driven by the increasing introduction of tech-enabled vehicles with situational awareness systems.
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Cyber Situational Awareness Industry Definition and Major Segments
Cyber situational awareness refers to an understanding of the surrounding IT environment and the potential cybersecurity risks and threats that specific environment faces, and the consequences of a cybersecurity breach. Cyber situational awareness assists businesses in identifying, analysing, and resolving risks and vulnerabilities in real-time, further securing their digital assets from a cyber-attack. This aids in establishing cyber threat intelligence within the company.
Based on component, the market can be bifurcated into:
• Solution
• Services
On the basis of solution type, the market can be segmented into:
• Network Forensics
• Network Traffic Analysis
• DNS Threat Analysis
• Network Detection and Response
• Network Performance Monitoring and Diagnosis
• Intrusion Detection System
• Intrusion Prevention System
• Others
By deployment type, the market can be divided into:
• On-Premises
• Cloud
On the basis of organisation size, the market can be categorised into:
• Large Enterprise
• Small and Medium Enterprise
Based on industry vertical, the market can be segmented into:
• Military and Defence
• Healthcare
• Aerospace
• Marine Security
• Automotive
• Mining Oil and Gas
• IT and Telecom
• Government Agencies
• BFSI
• Energy and Utilities
• Others
On the basis of region, the market is divided into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
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Cyber Situational Awareness Market Trends
The substantial rise of the global cyber situational awareness market over the projection period can be attributed to the wide range of crucial analyses needed by various sectors. For data breaches, hackers often target the financial services sector. In such circumstances, businesses require efficient network proactive monitoring systems to safeguard their environment from repeated hacker attempts.
North America has led the cyber situational awareness market due to a number of factors, including that businesses there are frequently endangered by cyberattacks and data security issues. The market for cyber situational awareness systems in North America is dominated by the United States and Canada. Growth in the North American region, notably in the United States, is being driven by the significant government expenditure in applications including military and defence, aviation, marine security, and homeland security.
For example, the United States Army has outlined network modernisation as one of its top six modernisation priorities, which will enable quick data sharing and advancements in cyber situational awareness architecture. Such developments are likely to improve the region's prospects in the cyber situational awareness market over the course of the forecast period.
Key Market Players
The major players in the global cyber situational awareness market report are
• Cyware Labs, Inc.
• Darktrace Holdings Limited
• FireMon, LLC
• IBM Corporation
• Honeywell International Inc.
• Others
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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