Cyber Situational Awareness Global Market Report 2024

The global cyber situational awareness market has grown exponentially in recent years. It will grow from $67.85 billion in 2023 to $83.11 billion in 2024 at a compound annual growth rate (CAGR) of 22.5%. The growth observed in the historical period can be attributed to incidents of data breaches, compliance with regulatory mandates, the increasing digitalization across various industries, vulnerabilities in the supply chain, and a shortage of cybersecurity skills.

The global cyber situational awareness market is expected to see exponential growth in the next few years. It will grow to $188.1 billion in 2028 at a compound annual growth rate (CAGR) of 22.7%. The projected growth in the forecast period can be attributed to the increasing frequency of cyber attacks, ongoing regulatory changes, a heightened focus on cloud security, and growing concerns related to the security of Internet of Things (IoT) and Operational Technology (OT). Major trends expected in this period include the acceleration of digital transformation initiatives, the increasing complexity of networks, the widespread adoption of cloud solutions, and continuous enhancement of threat intelligence capabilities within the cybersecurity landscape.

The escalating instances of cyberattacks and online fraudulent activities are poised to drive demand in the cyber situational awareness market. Organizations, particularly those lacking robust customer protection and corporate cyber situational awareness, are vulnerable to cyber threats. The need for a strong identity solution has led to investments in identity verification systems and cyber situational awareness among employees. Forbes reported a 15.1% increase in the average frequency of data breaches and cyberattacks in 2021 compared to the previous year. Gartner highlighted a significant rise in spending on data security, growing from $2.98 billion in 2020 to $3.5 billion in 2021, representing a growth rate of 17.5%. This underscores the increasing focus on cybersecurity measures, fueling the growth of the cyber situational awareness market.

The growing adoption of threat intelligence is set to propel the cyber situational awareness market. Threat intelligence involves collecting, analyzing, and interpreting information to understand cybersecurity threats and risks. Cyber Situational Awareness (CSA) enhances threat intelligence capabilities by providing real-time insights into the dynamic cybersecurity landscape. By continuously monitoring and analyzing data from various sources, CSA enables organizations to proactively identify potential threats, vulnerabilities, and emerging attack patterns. Trend Micro's report highlighted that organizations leveraging threat intelligence are 2.5 times more likely to have an effective cybersecurity posture, and 71% of those using cyber threat intelligence experienced improved incident response. The increasing integration of CSA with threat intelligence processes contributes to the market's growth.

Technological advancements emerge as a significant trend in the cyber situational awareness market, with major companies focusing on developing new solutions to fortify their positions. For instance, the Oulu University Secure Programming Group introduced an open-source implementation of the STIX 2.0 specification in Gson/Java in April 2021. STIX, a structured language for describing cyber threat information, facilitates consistent sharing, storage, and analysis. This open-source Java technology is designed for the cybersecurity community, offering a generic solution for users requiring the latest STIX 2.0 specification. Technological innovation remains a key driver for growth in the cyber situational awareness market.

Leading companies in the cyber situational awareness market are introducing innovative products, including mobile applications, to solidify their market presence. Mobile applications, commonly referred to as mobile apps, are software designed for mobile devices like smartphones and tablets. CYFIRMA, a Singapore-based cybersecurity company, exemplifies this trend by launching DeFNCE in February 2022. DeFNCE, a groundbreaking app, employs advanced algorithms to identify users' digital risk profiles and alerts them to various cyber threats such as spying, phishing, ransomware, and malware. The app utilizes over a million data sources to notify users of compromised emails and passwords available in underground marketplaces, as well as specific hacking campaigns targeting sensitive applications like banking. DeFNCE aids users in ensuring their device settings adhere to cybersecurity standards, enhancing overall cyber safety.

In August 2022, Flashpoint, a US-based actionable intelligence company, made a strategic acquisition by acquiring Echosec Systems for an undisclosed amount. This acquisition significantly expands Flashpoint's open-source intelligence (OSINT) capabilities, supporting various applications such as on-the-ground situational awareness, executive protection, geopolitical risk assessments, counterterrorism efforts, identification and response to misinformation and disinformation, and crisis response. Echosec Systems, a Canada-based company specializing in cyber situational awareness, is a key addition to Flashpoint's capabilities in addressing a wide range of intelligence and response needs in the ever-evolving cybersecurity landscape.

Major companies operating in the cyber situational awareness market report are International Business Machines Corporation, Verint Systems Inc., Marklogic Corporation, Firemon LLC, Honeywell International Inc., DXC Technology Co., Microsoft Corporation, Field Effect Software Inc., Cyware Labs India Pvt. Ltd., Paolo Alto Network Inc., Darktrace PLC, SAS Insitute Inc., Palantri Technologies Inc., Lynx Technology Partners LLC, The Mitre Corporation, Vehere Inc., Anomali Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., Cofense Inc., CrowdStrike Holdings Inc., Cybereason Inc., Digital Guardian Inc., Exabeam Inc., FireEye Inc., Fortinet Inc., F-Secure Corp., LogRhythm Inc., McAfee LLC.

North America was the largest region in the cyber situational awareness market in 2023. The regions covered in the cyber situational awareness market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cyber situational awareness market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Key facets of cyber situational awareness comprise network forensics, network traffic analysis, DNS threat analysis, network detection and response, network performance monitoring and diagnosis, intrusion detection systems, intrusion prevention systems, among others. Network forensics, for instance, pertains to the systematic retrieval and discovery of evidential information in a networked environment, ensuring its admissibility in legal proceedings. These components are delivered through solutions and services, available for deployment both on-premise and in the cloud. Businesses of varying sizes, including small and medium-sized enterprises and large enterprises, across industries such as BFSI, military and defense, healthcare, aerospace, marine security, automotive, mining, oil and gas, IT and telecom, and government agencies, employ cyber situational awareness tools and services. This is essential for maintaining a vigilant and informed stance against cyber threats.

This report provides cyber situational awareness market statistics, including cyber situational awareness industry global market size, regional shares, competitors with a cyber situational awareness market share, detailed cyber situational awareness market segments, market trends and opportunities, and any further data you may need to thrive in the cyber situational awareness industry. This cyber situational awareness market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The cyber situational awareness market includes revenues earned by entities by identifying, processing, comprehending information in real-time, and providing situational analysis or situational awareness (configuration management and network management). The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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