Global Cybersecurity Market Size Expected to Reach $298 Billion By 2028 as Cyber Threats Skyrocket

Cloud Computing and Cybersecurity Market Growth - The widespread adoption of cloud computing is creating significant opportunities in the cybersecurity market, driven by the need for robust and flexible infrastructure [1] - Organizations are increasingly moving towards cloud solutions for easier data storage and access to powerful computing resources, enabling effective management of applications and complex analytics [1] - The integration of cloud with technologies like software-defined perimeters is enhancing platform security, particularly for SMEs seeking to secure their data on the cloud [1] - The global cybersecurity market size is projected to grow from USD 190.4 billion in 2023 to USD 298.5 billion by 2028 at a CAGR of 9.4% [5] - North America, particularly the US, is anticipated to have the largest market size due to the concentration of leading cybersecurity companies and a high number of cyber threats [1] SentinelOne's Market Position - SentinelOne's Singularity Platform is among the highest-rated vendors in the Gartner Peer Insights™ Voice of the Customer for Endpoint Protection Platforms report, with 95% of over 1,600 end users recommending the solution [3] - The platform is recognized for its AI-powered, autonomous capabilities, protecting organizations across industries with a single management console and unified agent [14] Oracle's Cloud Infrastructure Adoption - Hitachi Construction Machinery has selected Oracle Cloud Infrastructure (OCI) to migrate its large-scale, mission-critical business systems, achieving fast and reliable cloud migration with minimal changes to applications and databases [4] - The migration supports Hitachi's digital transformation efforts, unifying data from mission-critical systems and preparing for future AI implementation [8] Emerging Cybersecurity Trends - The cybersecurity market is driven by escalating cyber threats, regulatory compliance demands, and the adoption of digital technologies like cloud computing and IoT [5] - Opportunities are emerging in AI and ML for threat detection, cloud security services, and cybersecurity for IoT devices, alongside growth in managed security services (MSS) and the need for skilled professionals [5] Scope Carbon Corp's Quantum Security Acquisition - Scope Carbon Corp has acquired Ovryde's quantum resilient entropy (QSE) technology, enhancing its cybersecurity offerings to address emerging quantum-computing threats [12] - The acquisition enables faster deployment of solutions, opens new revenue streams in industries like finance and healthcare, and helps clients comply with quantum-resistant encryption regulations [6] - The QSE technology positions Scope AI as a leader in quantum-resilient security solutions, setting it apart from competitors [6] Cloudflare's Application Security Report - Cloudflare's State of Application Security 2024 Report highlights the challenges security teams face in managing risks from modern applications, including software supply chain issues, DDoS attacks, and malicious bots [7] Varonis' Data Security Platform - Varonis' cloud-native Data Security Platform uses AI-powered automation to discover, classify, and protect critical data, helping organizations meet Zero Trust requirements and federal compliance mandates [9][17] - The platform has secured the "In Process" designation with FedRAMP, affirming its alignment with secure and compliant cloud services for the federal government [16]