Page 35 - Cyber Defense Magazine for August 2020

Since the cloud business infrastructure is vulnerable to cyber risks, cloud security solutions allows the
company to maintain efficient network operations by following set rules. They tend to manage the total
network security and also prevents unauthenticated alterations over network.

The adoption of cybersecurity solutions across SMEs is likely to grow over 15% CAGR through 2020-
2026. The increasing number of cyber-attacks over small & medium enterprises along with rising
monetary losses have further led to increasing adoption of cutting-edge security solutions.

Furthermore, these enterprises have also embraced the BYOD guidelines to lessen the capital
expenditure as well as enhance the productivities of employees. They are also making substantial
investments in advanced security solution in order to secure their data, majorly because they are prone
to data breaches and cyber threats.

Cybersecurity products & services demand is increasing in the IT and Telecommunication organizations
owing to the demand for protecting of personal sensitive data. The companies are adopting security
solutions in efforts to protect their virtual information systems, servers, and data centers. This further
helps them to alleviate cyber risks and also sense vulnerabilities at an early stage, thereby protecting
from live attacks. In addition to this, the introduction of strict regulations from government authorities is
impelling the cyber security market growth.

The Europe cyber security market is likely to grow at a CAGR of over 15% by the end of the forecast
timespan. Several enterprises functioning in banking sectors are increasingly adopting technologically
advanced cybersecurity solutions. The private corporates and government enterprises have registered
increasing number of cyberattacks. Additionally, private corporates and government authorities are also
making collective efforts to stop such vulnerabilities.

Citing an instance, European Central Bank collaborated with the members of Euro Cyber Resilience
Board. The two together introduced the Cyber Information and Intelligence Sharing initiative, which
focuses on detecting and preventing cyberattacks as well as enhancing the cybersecurity throughout
financial institutions.

The competitive landscape of the global cyber security market is inclusive of players such as Google
LLC, Nokia Networks, Oracle Corporation, IBM Corporation, Microsoft Corporation, Amazon Web
Services, and others.

Source: - https://www.gminsights.com/pressrelease/cyber-security-market

Cyber Defense eMagazine – August 2020 Edition 35
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