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Cybersecurity Industry Witnesses Emergence of Dominant Players Including Accenture, Alphabet, Cisco, Cloudflare, and IBM – GlobalData Plc

This press release was orginally distributed by SBWire

London, UK -- (SBWIRE) -- 10/21/2022 -- The latest publication by GlobalData Plc titled Cybersecurity – Thematic Research predicts the market to witness considerable growth during the projected period. Securing hybrid working, coping with ransomware, continuing supply chain threats, and moving to a zero-trust security model as a long-term solution to data breaches will drive strong security growth over the next three years. These factors will propel the cybersecurity market to garner an accelerated growth momentum at a CAGR of over 9% during the forecast period.

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Companies manage an array of assets, including infrastructure, applications, managed and unmanaged endpoints, mobile devices, and cloud services—all of which are under threat. New vulnerabilities can be uncovered at any time, and there is also the worry of an insider attack. This results in an increased demand for innovation and collaboration among companies to counter evolving cyber threat landscape.

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Top Cybersecurity Trends

The main trends shaping the cybersecurity theme over the next 12 to 24 months are covered in this report.

Technology trends
- Ransomware
- Ransomware as a service (RaaS)
- Cloud security
- Convergence of security technology solutions
- Chip-based security
- Supply chain threats
- Critical national infrastructure threats
- IoT threats
- AI threats
- Insider threats
- Growing use of managed security services
- New vulnerabilities
- Zero trust adoption
- Offensive approach to cyber defense
- Password-less security
- Extended detection and response (XDR)

Macroeconomic trends
- Ukraine conflict
- COVID-19
- Cyber budgets
- State-sponsored attacks
- Cyber skills shortage
- Cybersecurity and elections
- Overworked chief information security officers (CISOs)
- Increase in financial sector cyberattacks

Regulatory trends
- US banks' breach reporting
- Co-operation on supply chain security
- Mandatory disclosure of cyberattacks
- EU cybersecurity legislation
- Consumer software security standards

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Top Cyber Security Companies

- Accenture: Accenture made several acquisitions in 2020 and 2021 to add to its cybersecurity portfolio, including French cybersecurity services company Openminded and cyber defense company Sentor.
- Alphabet: Google has dramatically increased its cybersecurity focus with the January 2022 purchase of Israeli start-up Siemplify for $500 million and the $5.4 billion acquisition of Mandiant two months later. Siemplify provides security orchestration, automation, and response (SOAR) capabilities and will be integrated into Google Cloud's security offerings to help companies better manage their threat response.
- Check Point Software: In February 2022, Check Point expanded its CloudGuard cloud security platform by acquiring Spectral, an Israel-based security tools startup. Spectral focuses on code safety and trust and code scanning, and though only two years old, is regarded as an innovator in developer security.
- Cisco: Cisco's chief strategy officer Liz Centoni has said that quantum networking could enable a new secure connection between digital devices, making them impenetrable to hacks. In February 2022, it emerged that Cisco and Splunk had discussed a $20 billion deal under which Cisco would acquire the security and data company.
- Cloudflare
- Crowdstrike
- Darktrace
- Dell Technologies
- Fortinet
- Microsoft
- Palantir Technologies
- Palo Alto Networks
- Rapid7
- Splunk
- Trellix
- Zscaler
- Cybereason
- Code42
- ForgeRock
- Illumio
- Lookout
- Netskope
- OneTrust
- Socure
- Snyk
- Tanium

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About GlobalData
GlobalData is a leading data, analytics, and insights provider in the world's largest industries. As a leading information services company, thousands of clients rely on GlobalData for trusted, timely, and actionable intelligence. Our mission is to help our clientele ranging from professionals within corporations, financial institutions, professional services, and government agencies to decode the future and profit from faster, more informed decisions. Continuously enriching 50+ terabytes of unique data and leveraging the collective expertise of over 2,000 in-house industry analysts, data scientists, journalists, and a global community of industry professionals, we aim to provide decision-makers with timely, actionable insights.
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