Global Cybersecurity Market Could Exceed $320 Billion in Revenues by 2027

Global Cybersecurity Market Could Exceed $320 Billion in Revenues by 2027

PR Newswire

PALM BEACH, Fla., July 29, 2020

- Financialnewsmedia.com News Commentary

PALM BEACH, Fla., July 29, 2020 /PRNewswire/ -- The global cyber security market has been growing exponentially over the past several years and is expected to continue for the coming years. The global cyber security market size is expected to reach USD $326.4 billion by 2027, registering a compound annual growth rate (CAGR) of 10.0% from 2020 to 2027, according to the new study conducted by Grand View Research, Inc. It said: "The rising number of cyber-attacks across networks, applications, and endpoints severely impact organizations in terms of both losses of sensitive data and costs associated with it. Moreover, the increased usage of Internet of Things (IoT), cloud computing environment for improved data sharing and storage, and the rising trend towards the digital business transformation expose cases of cyber espionage, phishing, and other security incident breaches. The magnitude of such sophisticated cyber threats is compelling every industry and businesses to secure their networks, protect their data, and enhance their systems to detect threats in advance."  Active Companies from around the market with recent developments this week include:  Data443 Risk Mitigation, Inc. (OTCPK: ATDS), Cisco Systems, Inc. (NASDAQ: CSCO), CrowdStrike Holdings, Inc. (NASDAQ: CRWD), Cloudflare, Inc. (NYSE: NET), Fortinet® (NASDAQ: FTNT).

The report continued: "The cyber threat landscape is continuously evolving with the advancement in technologies such as blockchain technologies, online payment transaction models, digital file-sharing platforms, and digital collaboration and marketing tools. Such technologies increase the potential risk factors for cybersecurity threats. This is due to the influx of the high volume of user traffic that shares sensitive data such as transaction information, demographics, and psychographic information across the web. According to Verizon's Data Breach Investigations Report published in 2020, 86% of the overall breaches were financially motivated, and 22% of the overall breaches involved phishing. On the other hand, 37% of the overall breaches involved were of stolen or used credentials. With rising cases of data breaches, cybersecurity vendors are increasingly investing in analytics, data science models, and predictive machine learning technologies to detect, block and quarantine device vulnerabilities at real-time."

Data443 Risk Mitigation, Inc. (OTCPK: ATDS) BREAKING NEWS:  DATA443 RISK MITIGATION WELCOMES MR. OMKHAR ARASARATNAM TO ITS ADVISORY BOARD  - Data443 Risk Mitigation, a leading data security and privacy software company, today announced that it has appointed Mr. Omkhar Arasaratnam, a 20-year expert in information technology and leadership in global cybersecurity projects to its Advisory Board effective immediately.

Mr. Arasaratnam currently serves as Director of Engineering, Assurant Security for Google LLC, and is a Senior Fellow with the NYU Center for Cybersecurity at the NYU Tandon School of Engineering, and a member of the NYU Cyber Fellow Advisory Council. Previously, Mr. Arasaratnam served as Executive Director of Data Project Engineering at JPMorgan Chase, and has previously led security organizations at financial and technology institutions, such as Credit Suisse, Deutsche Bank, TD Bank Group, and IBM. In this capacity, he has revolutionized the effectiveness of cybersecurity controls. He is an accomplished author with several granted patents and has led contributions to many international standards.

"As someone who has dedicated my career to cybersecurity, I am honored to join the Data443 Advisory Board and work with such accomplished peers. Data443 truly stands out as an innovative leader in data classification, security, and privacy, with significant momentum. Data443's solves these problems today, and I can't wait to start collaborating with Jason and the team in its mission for data privacy," commented Mr. Omkhar Arasaratnam.

Jason Remillard, CEO of Data443, commented, "As CEO, I am consistently looking for industry leaders that can add expertise and push the development of our company forward. Today, we are excited to welcome such an experienced and high-quality candidate in Omkhar Arasaratnam to the Data443 team. Omkhar's vision, passion, and his depth of experience in precisely the area in which Data443 operates are truly invaluable and will be instrumental as Data443 continues to expand its service offerings. Omkhar's impressive leadership in cybersecurity coupled with his deep knowledge of banking data protection and his vast presence in Silicon Valley, will help Data443 in a variety of ways."

"We have reconfigured our advisory board to add important insights to three strategic areas: product consulting and strategy, acquisition sourcing and advisory, and capital markets advisory. We are actively filling our roster with leaders in these respective areas to help Data443 reach its fullest potential," concluded Mr. Remillard. Read this full release and more news for ATDS at:  https://www.financialnewsmedia.com/news-atds

In the industry developments and happenings in the markets include: 

Cloudflare, Inc. (NYSE: NET) the security, performance, and reliability company helping to build a better Internet, recently announced the release of Cloudflare Workers® Unbound, offering a serverless platform for developers with unparalleled flexibility, performance, security, ease of use, and pricing. Cloudflare Workers Unbound allows developers to run complicated computing workloads across the Cloudflare network and pay only for what they use. In addition to being more flexible, Cloudflare Workers Unbound can save users up to 75 percent for the same workloads running on legacy, centralized serverless platforms such as AWS Lambda.

"Cloudflare Workers Unbound is the most compelling serverless platform available," said Matthew Prince, co-founder and CEO of Cloudflare. "I challenged our team to build a platform that didn't just compete with niche edge computing solutions, but would provide developers the fastest, most secure, most flexible, and most cost-effective general-purpose serverless offering — period. I'm incredibly proud of Cloudflare Workers Unbound and can't wait to see what developers will build with it."

Cisco Systems, Inc. (NASDAQ: CSCO) and Acacia Communications, Inc. (NASDAQ: ACIA) recently issued a joint statement on the status of the ongoing regulatory review for the pending acquisition of Acacia by Cisco that is being conducted by the State Administration for Market Regulation of the People's Republic of China ("SAMR"). Cisco and Acacia remain actively engaged with SAMR and expect the acquisition to receive regulatory clearance.

"We are looking forward to Acacia joining Cisco and are excited to partner with their world class team to build on the great success in their core markets," said Bill Gartner, Cisco senior vice president and general manager for the Optical Systems and Optics Group. "We are fully committed to and strongly believe in the merits of this pending acquisition. Together, we will support and strengthen their existing customer base around the world, and look forward to further expansion, underpinned by Acacia's current portfolio and future product roadmaps."

CrowdStrike Holdings, Inc. (NASDAQ: CRWD) a leader in cloud-delivered endpoint protection, recently announced the release of the 202 CrowdStrike Asia Pacific and Japan (APJ) State of Cybersecurity Report, produced by independent research firm StollzNow. Commissioned by CrowdStrike, the study surveyed 2,017 business leaders in Australia, New Zealand, India, Singapore, Philippines, Thailand, Malaysia, Indonesia, Hong Kong and Japan. The study found that amongst those respondents who believe there should be more investment in remote working, the highest number (74%) list enhancement of cybersecurity measures as a priority for additional investment. Further, despite a grim economic outlook, 65% expect technology budgets to increase.

The report indicates that many organizations have experienced digital transformation at an unprecedented pace and scale across business segments and operations, as they have quickly moved to mass remote working arrangements during COVID-19 in order to survive. In fact, 44% of business leaders surveyed said the pandemic accelerated their move to cloud solutions, while 82% say COVID-19 changed the way they interact or deliver products and services to customers. These results indicate a strong shift and rapid investment into transformation projects that move from on-premises security solutions to next generation cloud-native solutions as organizations look to protect today's distributed workforce.

Fortinet® (NASDAQ: FTNT), a global leader in broad, integrated and automated cybersecurity solutions, recently announced it is helping Continent 8 Technologies, Illinois State Treasurer and SuperCare Inc. secure and centralize management of their cloud environments through its Security-as-a-Service delivery platform, FortiCloud.

Through FortiCloud, Fortinet delivers many of its Security Fabric's products and solutions as Security-as-a-Service (SECaaS) offerings. This has made it easy for customers ranging from small businesses to enterprises and managed security service providers (MSSPs) to secure their users, applications and critical data in the cloud. - FortiCloud enables customers to access and manage a range of Fortinet solutions and services from an online portal with a common user experience. Customers are able to centralize the management of multiple Fortinet devices and quickly make on-premises configurations from anywhere. - FortiCloud delivers the industry's most comprehensive Security-as-a-Service portfolio, including FortiGate Cloud, FortiWeb Cloud and FortiCWP, through a single sign-on. FortiCloud also provides access to FortiCare services, which includes global support for all Fortinet products.

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