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Cybersecurity Market Sees Surge with 13.38% CAGR through 2031 Due to Increasing Threats | SkyQuest Technology

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WESTFORD, Mass., June 24, 2024 /PRNewswire/ — As per SkyQuest, the Global Cyber Security Market was valued at USD 150.02 Billion in 2022 and is poised to grow from USD 168.04 Billion in 2023 to USD 452.08 Billion by 2031, growing at a CAGR of 13.38% during the forecast period (2024-2031).

The global cybersecurity market is growing exponentially and is expected to continue to rise. A major factor in this growth is the frequent and dramatic increase in cyber threats targeting businesses, governments, and individuals. The increasing integration of digital technologies into critical infrastructure, such as strength grids, transportation systems, and healthcare facilities, has appreciably intensified the potential damages due to cyber-attacks.

Cybersecurity is growing as international organizations adopt technology like cloud computing, artificial intelligence (AI), the Internet of Things (IoT), and large information analytics as a part of their virtual transformation tasks. This enormous shift might present corporations that adopt virtual transformation with the chance of encountering new and unexpectedly converting cybersecurity threats.

Download a detailed overview:

https://www.skyquestt.com/sample-request/cyber-security-market

Cybersecurity Market Overview: 

Report Coverage 

Details 

Market Revenue in 2023 

$ 168.04 billion 

Estimated Value by 2031 

$ 452.08 billion 

Growth Rate 

Poised to grow at a CAGR of 13.38% 

Forecast Period 

2024–2031 

Forecast Units 

Value (USD Billion) 

Report Coverage 

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends 

Segments Covered 

Type, Industry, Deployment Mode and Organization Size

Geographies Covered 

North America, Europe, Asia Pacific, Middle East & Africa, Latin America

Report Highlights 

Updated financial information / product portfolio of players 

Key Market Opportunities 

Integration of Quantum Cryptography Represents a Pivotal Opportunity 

Key Market Drivers 

The Adoption of AI-powered Security Solutions Offers Substantial Growth Prospects for Participants Within Market 

Segments covered in Cybersecurity Market are as follows:

TypeData Privacy, Data Security, Cloud Security, Industry Security, Integrated Risk Management, Consumer Security Software, Identity Access Management, Network Security Equipment, Infrastructure Protection, Security Services (Professional Services (Risk & Threat Management, Professional Services, Design, Consulting, And Implementation, Training & Education, Support & Maintenance), Managed Services), and Others (Antivirus/Antimalware, Patch Management, Security Information and Event Management (SIEM), OthersIndustryAerospace & Defence, Government, BFSI, Healthcare, IT, Telecommunication, Manufacturing, Retail, Energy & Utilities, Media & Entertainment, and OthersDeployment ModeCloud, On-premises, & HybridOrganization SizeSmall Enterprises, Medium Enterprises, and Large Enterprises

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Palo Alto Networks

Palo Alto Networks is a global leader in the global cybersecurity market, known for its advanced security programs and a wide range of services designed to protect against a variety of cyber threats The company focuses on breeding the next generation of firewalls on a large scale, including the use of artificial intelligence (AI) and machine learning identify and mitigate threats strength. Bolstered by acquisitions like io and RedLock, which has enhanced their Prisma cloud security suite Palo Alto Networks is also a strong proponent of zero trust architecture, which ensures strict access controls to mitigate vulnerability under various types.

In recent news, the acquisition of Sider Security in 2023 aims to strengthen its capabilities in supply chain security, addressing growing concerns about software supply attacks. The company’s hybrid of AI and machine learning sets a high standard in their security measures and continuous threat detection and prevention, contributing significantly to the global cybersecurity agenda.

Cisco Systems

Cisco Systems, a leading force in the cybersecurity landscape, leverages its extensive networking expertise to deliver robust security solutions. One of its key strategies is Secure Access Service Base (SASE) integration, which encompasses networking and security functions combine into a unified cloud-native service offering comprehensive solutions to enhance threat detection, detection and response. Their secure network analytics use network behavior analytics to detect and address anomalies in real time.

While the recent acquisition of Kenna Security enhanced Cisco’s risk-based vulnerability management capabilities, enabling them to better prioritize threats, Duo Security’s ongoing expansion enhances multifactor authentication and zero trust capabilities. Adding security to Cisco’s networking products provides enterprises with simple and scalable solutions, dramatically improving enterprise security worldwide.

Crowd Protection 

CrowdStrike has created a strong niche in the global cybersecurity market with its cloud-native Falcon platform, which specializes in endpoint security, threat intelligence, and cyberattack response services. The company’s cloud-native approach scales. Ensures feasible and efficient security solutions. CrowdStrike places a strong emphasis on threat intelligence, providing deep insights to anticipate, prevent, and respond effectively to cyber threats. Their Managed Detection Response (MDR) service delivers proactive monitoring and response, helping companies better manage security operations.

Recent developments have enhanced their existing platform to enable expansion with the introduction of the Falcon XDR year 2023 in the country Cisco Systems, a leading force in the cybersecurity landscape, leverages its extensive networking expertise to deliver robust security solutions.

Check Point Software Technology 

Check Point Software Technologies is known for its comprehensive threat mitigation and comprehensive security solutions. The company’s Infinity architecture combines multiple security applications, including threat mitigation, mobile security, and cloud security into a consolidated platform. Their SandBlast solution uses advanced threat simulation and extraction technologies to create protection against sophisticated cyber-attacks. Check Point also offers a compatible security management system, which simplifies and streamlines security operations and policies.

Recently, their Cloud Guard security portfolio extension brought new capabilities to protect cloud-native applications and services. The acquisition of Avanon in 2021 strengthened the security of their email collaboration app, providing improved protection against phishing malware.

View report summary and Table of Contents (TOC):

https://www.skyquestt.com/report/cyber-security-market

Fortinet

Fortinet stands out in the global cybersecurity market with its high-performance security fabric and wide range of security solutions. The company’s security fabric integrates a broad range of security features, ensuring seamless cooperation in the face of digital attack. Fortinet’s strategic focus on AI and machine learning enhances their threat detection and automated response capabilities.

The acquisition of Panopta in 2020 enhanced Fortinet’s network monitoring and security management capabilities. Fortinet’s comprehensive security fabric provides a unified and robust approach to cybersecurity, dramatically improving security in network endpoint cloud environments. Their new solution is a focused approach that has contributed significantly to cybersecurity, providing robust security for many businesses. It has also been extended to Operations Technology (OT) security to protect industrial applications and critical infrastructure. The 2023 release of FortiOS 7.2 brought new features and enhancements to their flagship operating system, improving network security and user experience.

Cyber Security: Fortifying the Digital Fortress

The conclusion on cybersecurity was that it is absolutely necessary in our modern digital age. We cannot ignore the risks of cyberattacks, data breaches, and other online threats. Instead, we must take proactive measures to protect our information and systems from this threat.

Cybersecurity must be an ongoing effort: Threats to our information and systems are constantly evolving, so we must remain vigilant and constantly update our security measures. 

Prevention is key: The best way to protect against a cyberattack is to prevent it in the first place. This means implementing strong security measures such as firewalls, anti-virus software and encryption.

Education is essential: Everyone who uses the internet and digital devices should be aware of the risks and best practices for online safety. Education and awareness campaigns are an important part of defending against cyber threats.

Related Reports:

Network Security Market

Managed Security Services Market

Cloud Security Market

Application Security Market

Zero Trust Security Market

About Us:

SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific. 

Contact:
Mr. Jagraj Singh
Skyquest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/

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Nanalysis Announces Board Transition and Appointment of Three New Directors

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CALGARY, AB, May 1, 2026 /CNW/ – Nanalysis Scientific Corp. (the “Company”, TSXV: NSCI, FRA: 1N1), a leader in portable NMR spectrometers and MRI technology for industrial and research applications, is pleased to announce the appointment of Jonathan Ladd, Werner Maas, and Steve Feick to its Board of Directors effective May 1, 2026.

Mr. Ladd is an experienced technology executive and former Chief Executive Officer of NovAtel Inc., a Nasdaq-listed GPS technology company acquired by Hexagon AB. He has a track record of scaling global technology businesses and brings extensive experience in capital markets, corporate governance, and strategic execution within advanced technology companies. He currently serves on the following boards: Takemetoit Inc., AgriRobot, Litus Inc., and is an advisor at Tall Grass Ventures. Mr. Ladd earned a bachelor’s degree with distinction in engineering and is a member of Tau Beta Pi National Engineering Honor Society.

Dr. Maas is a senior executive in the analytical instrumentation sector, having previously served as President of Bruker BioSpin Corporation and currently serving as Chief Executive Officer of Hudson Lab Automation. He brings deep expertise in nuclear magnetic resonance (NMR) technologies, as well as global sales, marketing, and commercialization of scientific instrumentation. Dr. Maas holds a Ph.D. in Chemistry from Radboud University in The Netherlands, as well as several executive management designations from the MIT Sloan School of Management.

Mr. Feick is President of Manvest Inc., part of the Mancal Group. He has a track record of developing and growing a portfolio of investments in agriculture, finance, supply chain, infrastructure technology, energy efficiency, and data analytics. As a former entrepreneur, he ensures that his operational and investor experience elevates the growth of the portfolio. He is an experienced investor and brings expertise in capital allocation, governance, and long-term strategic planning across private and public market investments. Mr. Feick holds a Bachelor of Science degree in Chemical Engineering from Queen’s University.

In connection with these appointments, Martin Burian and Jennifer Stubbs will be stepping down from the Board of Directors, effective May 1, 2026. The Company thanks Mr. Burian and Ms. Stubbs for their contributions and service and wishes them continued success in their future endeavours.

“On behalf of the Board, I would like to thank Martin and Jennifer for their contributions to Nanalysis and dedicated service to the Company and wish them continued success in their future endeavours.” said Sean Krakiwsky, Chief Executive Officer. “We are pleased to welcome Jonathan, Werner, and Steve. Their collective experience across instrumentation, global commercialization, and capital allocation will support the Company as we focus on scaling our core NMR platform and executing on our services growth strategy.”

About Nanalysis Scientific Corp. (TSXV: NSCI, OTCQX: NSCIF, FRA: 1N1)

Nanalysis Scientific Corp. develops and manufactures portable Nuclear Magnetic Resonance (NMR) spectrometers used worldwide in pharma, biotech, energy, food, materials, and security industries, as well as in academic and government labs. The Company also operates a growing services division that maintains both its own products and third-party imaging equipment, anchored by a $160 million long-term contract with the Canadian Air Transport Security Authority (CATSA) to maintain security scanners at more than 80 Canadian airports.

Notice regarding Forward Looking Statements and Legal Disclaimer

This news release contains certain “forward-looking statements” within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as “anticipates”, “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed”, “positioned” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Nanalysis Scientific Corp.

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PCIS Emerges as Leading Risk and Claims Provider in Mid-Atlantic with Three Major Wins

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SEPTA, City of Baltimore, and Maryland Department of Transportation MTA adopt ClaimsVISION to modernize risk and claims operations

NEW YORK, May 1, 2026 /PRNewswire-PRWeb/ — PCIS, a leading provider of Risk & Claims Management Information System (RMIS), today announced a series of new and expanded client engagements across the Mid-Atlantic region, further solidifying its position as a trusted partner for transit agencies and public sector organizations.

“The biggest barrier to innovation in the public sector isn’t a lack of tools—it’s the weight of legacy data environments that were never built for real-time intelligence. You can’t layer AI on top of fragmented, batch-driven systems and expect results.

The Southeastern Pennsylvania Transportation Authority (SEPTA) has selected PCIS ClaimsVISION RMIS to enhance its risk management capabilities and support more efficient claims oversight. The City of Baltimore has chosen ClaimsVISION Claims and RMIS to modernize its claims administration and enterprise risk management operations. In addition, the Maryland Department of Transportation Maryland Transit Administration (MDOT MTA) has entered into a new five-year agreement with PCIS, extending a long-standing partnership and continuing its use of the ClaimsVISION platform.

These engagements reflect a broader trend among public entities seeking modern, configurable platforms to improve visibility, streamline workflows, and strengthen compliance across increasingly complex risk environments.

“The biggest barrier to innovation in the public sector isn’t a lack of tools—it’s the weight of legacy data environments that were never built for real-time intelligence. You can’t layer AI on top of fragmented, batch-driven systems and expect results. Organizations like SEPTA and Baltimore are rethinking the foundation—moving toward continuous, streaming data models that actually enable AI to deliver value”, said Michael Loizou, CSO of PCIS.

Across these implementations, PCIS will deliver a unified platform designed to:

Centralize claims and risk data for improved decision-makingEnhance BI and intelligent analytics capabilitiesStreamline workflows and reduce manual processesSupport regulatory compliance and audit readinessEnable scalable, configurable solutions tailored to public sector needs

The continued expansion of PCIS within the Mid-Atlantic region underscores the company’s growing presence among transit agencies and public entities seeking proven, purpose-built risk and claims management solutions.

Media Contact

Helene Quinn, PCIS, 1 2124051625, hquinn@pcisvision.com, www.pcisvision.com

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SOURCE PCIS

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Private Equity’s AI Moment: The Greatest Value Lever in Decades — and the Hardest to Pull

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The following article is authored by Neil Dhar, Senior Vice President, IBM Consulting Americas

ARMONK, N.Y., May 1, 2026 /PRNewswire/ — Next week at Think 2026, we’ll outline the forces shaping the Enterprise AI Race, forces that apply with particular urgency to private equity. The organizations gaining ground today are not the ones betting on a single model. They are the ones redesigning how their businesses operate, building hybrid architectures that give them control, and deploying AI in ways that orchestrate value that compounds over time. 

The private equity industry understands this better than most. The days of pilots and promises are over, and the demand for hard proof (a.k.a. ROI) has begun. Is your revenue accelerating? Can you drive efficiency and profitability at the same time? What does long-term growth look like? These are the questions sitting across the table at every board meeting and investment committee, and the pressure is only intensifying.  

This pressure has forced major PE firms to move aggressively to formalize their AI strategies, including exploring joint ventures with leading LLM companies. They’re making a calculated bet on AI as the most powerful value‑creation lever the industry has seen in its history, and they recognize that the window to move is now. 

The logic is unmistakable. PE firms don’t run single businesses, they run portfolios. Which means AI playbooks that work don’t just transform one company; they compound across ten, twenty, fifty, hundreds. A workflow reinvented once becomes a repeatable asset. A governance framework built once becomes portfolio infrastructure. That multiplier effect is native to how PE creates value, and it’s what makes the intersection of private equity and enterprise AI one of the most consequential arenas in business right now. 

The bet is a no-brainer. Execution is where it gets hard.  

Here’s what we know to be true: competitive advantage won’t come from betting on a single LLM. It will come from building AI tailored to your business, shifting to a hybrid strategy that combines custom models, foundation models, and smaller specialized models, all grounded in an architecture that connects your data, your workflows, and your intelligence. In private equity, where the same playbook has to work across an entire portfolio, that distinction isn’t academic. It’s the difference between value that compounds and value that stalls. 

We know this because we lived it. We turned our own operations into the proving ground, analyzing nearly 400 operational workflows and deploying AI solutions across more than 100 so far, coupled with AI governance and enablement.

The result was $4.5B in productivity gains from AI, hybrid cloud, automation and consulting expertise, and proof of what works.

We then took that proof and productized those validated workflows into IBM Enterprise Advantage, a first-of-its-kind asset-based consulting service that enables clients to build and operate their own tailored internal AI platform at scale.

With digital workers, prebuilt tools, and native governance, clients have a headstart rather than a blank slate. And because it’s multi-model, they retain the freedom to shift as technology evolves. For private equity, that flexibility determines whether a company is an asset or a liability at exit. 

We’re bringing this same approach to private equity-backed companies, where the defining question is what changed and can you prove it.

A major U.S. telecommunications provider is deploying digital workers and prebuilt AI tools from Enterprise Advantage to accelerate the migration of more than 150 critical applications, delivering measurable savings within two quarters.Working with a leading insurance administrator, IBM is using agentic AI to overhaul end-to-end claims processing, a function where a single claim can involve dozens of tightly regulated steps across multiple systems. AI agents now read and structure claim documents, perform compliance checks, assess eligibility, and route cases automatically, resulting in faster cycle times, fewer bottlenecks, and an operating model built to scale. 

What private equity does here will ripple far beyond its own portfolios. When PE-backed companies deploy production-ready AI across the business, they reset competitive expectations for entire industries, forcing every competitor to respond. That is the Enterprise AI Race playing out in real time.

The choices made today will define portfolio performance for the next decade. Move too slowly and you’re handing the advantage to every competitor who didn’t. Move without discipline and you’re betting the portfolio on a foundation that hasn’t been proven. The firms that win will be the ones who understood that distinction early enough to do something about it.

About IBM 

IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of governments and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information.

Media contact: 

IBM
Lily O’Brien
lilyobrien@ibm.com

SOURCE IBM

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