Cybersecurity - Thematic Intelligence

The cybersecurity industry faces a challenge that is anything but business as usual. The prospect of offensive attacks using artificial intelligence (AI) is prompting increases in cybersecurity budgets as organizations try to understand the impact of generative AI on their security. Hacking groups will likely use large language models (LLMs) trained on malware to target their attacks more effectively. AI is already used for threat detection, and its greater adoption will help offset attacks. However, learning how to counter AI-led attacks will take time, and cybersecurity vendors and users will face a bumpy ride for the next two to three years.

• Cybersecurity budgets will grow in step with IT budgets in 2024 as organizations come to terms with AI's impact on their operations. PwC’s 2024 Global Digital Trust Insights report states that cyber investments will take 14% of the total IT, operational technology (OT), and automation budget in 2024, up from 11% in 2023. Overall, the publisher forecasts that the cybersecurity market will be worth $290 billion by 2027, growing at a compound annual growth rate of 13% between 2022 and 2027. Managed security services, application security, and identity and access management will be high-growth areas.
• Cisco’s $28 billion acquisition of Splunk will be a catalyst for AI-led cybersecurity M&A deals in 2024 and beyond as the cybersecurity industry comes to terms with generative AI-led cyberattacks. Both start-ups and maturing cyber companies will be on the radar of larger cybersecurity companies looking for products and talent. Cybersecurity M&A will likely attract regulators’ interest, particularly as a small group of private equity players are buying up numerous cybersecurity companies.

Scope

• This report provides an overview of the cybersecurity theme.
• It identifies the key trends impacting growth of the theme over the next 12 to 24 months, split into three categories: technology trends, macroeconomic trends, and regulatory trends.
• It includes comprehensive industry analysis, including market size forecasts for cybersecurity and analysis of patents, company filings, and hiring trends.
• It contains details of M&A deals driven by the cybersecurity theme, and a timeline highlighting milestones in the development of cybersecurity.
• The detailed value chain is split into three main areas: hardware, software, and services. The hardware segment includes chip-based security. The software segment includes identity management, network security, endpoint security, threat detection and response, cloud security, data security, email security, application security, unified threat management, and vulnerability management. The services segment includes managed security services, post-breach response services, and risk and compliance services.

Reasons to Buy

• Cybersecurity is one of the most fertile and fast-moving areas of technology. New exploits are developed daily, and organizations worldwide repel hundreds of attacks each week. This report provides an invaluable guide to this extremely disruptive theme. It includes comprehensive lists of the leading players across all aspects of the cybersecurity value chain, helping companies identify the right partners.
• The report also includes a guide to the major threat actors and looks at the main types of cyberattack, from un-targeted attacks like phishing to targeted attacks like distributed denial of service (DDoS).