Join date: Nov 22, 2021

The global cyber security market size was valued at USD 167.13 billion in 2020 and is expected to register a CAGR of 10.9% from 2021 to 2028. The growth of the market can be attributed to the growing sophistication of cyberattacks. The frequency and intensity of cyber scams and crimes have increased over the last decade, resulting in huge losses for businesses. As incidents of cybercrimes increased significantly, businesses worldwide channeled their spending on advanced information security technologies to strengthen their in-house security infrastructure. Furthermore, the need to defend critical infrastructure from Advanced Persistent Threats (APTs) has encouraged governments across the globe to reform their cyber security strategies, creating a pool of opportunities for industry participants. The increasing use of a variety of technologies in the retail, banking, telecom, and manufacturing sectors is driving the need for assimilating, processing, and storing large amounts of confidential information. Breaching of such confidential information can cause steep financial damage to an organization.

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