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Cyber Security Market Size to Reach $478.68 Billion, Globally, by 2030 at 9.5% CAGR: Allied Market Research

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The rise in malware and phishing threats among enterprises and the increase in the adoption of IoT and BYOD trends are boosting the growth of the cyber security market. In addition, the surge in demand for cloud-based cybersecurity solutions positively impacts the growth of the market.

PORTLAND, Ore. , Sept. 19, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Cyber Security Market by Component (Solution and Service), Solution (Identity & Access Management, Infrastructure Security, Governance Risk & Compliance, Unified Vulnerability Management Service Offering, Data Security & Privacy Service Offering and Others), Deployment Model (Cloud and On-premise), Enterprise Size (Large Enterprises and SMEs) and Industry Vertical (Telecom, Automotive, BFSI, Public Sector, Retail, Healthcare, IT, Energy & Utilities, Manufacturing, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030″. According to the report, the “cyber security market” was valued at $197.36 billion in 2020, and is projected to reach $478.68 billion by 2030, growing at a CAGR of 9.5% from 2021 to 2030.

The rise in malware and phishing threats among enterprises and the increase in the adoption of IoT and BYOD trends are boosting the growth of the cyber security market. In addition, the surge in demand for cloud-based cyber security solutions positively impacts the growth of the market. However, budget constraints among organizations and complexities of device security hamper the market growth. On the contrary, the increase in adoption of mobile device applications and platforms, the need for strong authentication methods, and the transformation in the traditional antivirus software industry are expected to offer remunerative opportunities for the expansion of the market during the forecast period.

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The enterprise size segment held the highest market share in 2020. 

By enterprise size, the large enterprise segment dominated the market in 2020, this dominance can be attributed to the high volume of sensitive data and critical infrastructure large enterprises need to protect, as well as their greater financial capacity to invest in advanced cybersecurity solutions. With increasing cyber threats, such as ransomware attacks, data breaches, and sophisticated phishing schemes, large organizations are heavily investing in comprehensive security systems, including firewalls, intrusion detection, threat intelligence, and incident response. However, the SMEs segment is expected to witness the largest CAGR of 10.9%, this growth is driven by the increasing awareness among small and medium-sized enterprises (SMEs) of the rising threats posed by cyberattacks, such as data breaches, phishing, and ransomware. As SMEs often lack the robust IT infrastructure of larger corporations, they are becoming prime targets for cybercriminals, which has accelerated their adoption of cybersecurity solutions.

The BFSI segment held the highest market share in 2020.

By industry vertical, the BFSI segment accounted for the largest share in 2020. This dominance is driven by the critical need for data protection and fraud prevention in the financial sector, where organizations handle vast amounts of sensitive personal and financial information. With the growing digitization of banking services, online transactions, and mobile banking, the BFSI sector has become a primary target for cyberattacks such as data breaches, identity theft, and phishing. However, the healthcare segment is expected to witness the largest CAGR of 6.5%. This growth is driven by the increasing digitalization of healthcare services, including electronic health records (EHRs), telemedicine, and connected medical devices, which have significantly expanded the attack surface for cybercriminals. The healthcare sector is highly vulnerable to cyberattacks, such as ransomware and data breaches, due to the sensitive nature of patient data and the critical need for uninterrupted medical services.

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Regional Insights: The North America region held the highest market share in 2020. 

By region, the cyber security market was dominated by North America in 2020. driven by its advanced technological infrastructure, high level of digitalization, and significant investment in cybersecurity solutions. The U.S., in particular, led the charge with substantial expenditures on cybersecurity to protect critical infrastructure, financial systems, and sensitive data from escalating cyber threats. 

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Key Industry Developments

In March 2024, The U.S. raised $25 million in investment to protect the nation from malicious cyber actors and cyber campaigns. These investments work on countering emerging cyber threats, enhancing federal cybersecurity measures, safeguarding federal cyberspace and critical infrastructure, and ensuring robust disaster resilience, response, and recovery mechanisms.

In October 2023, Japan announced a $6.7 million cyber defense project to integrate locally developed security software into government computers by 2025. The platform will be compatible with Microsoft security software installed in most of the covered devices.

In March 2021, the Government of Canada launched the Cyber Security Innovation Network program. This program is being launched with an investment of $80 million. The program will fund the creation of a national network composed of multiple centers of expertise on cyber security that are affiliated with post-secondary institutions from across Canada, in collaboration with partners in the private sector, not-for-profits, provincial/territorial/municipal governments, and other Canadian post-secondary institutions.

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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THE KOREA INDUSTRY DAILY: ROBOTWORLD 2026 to Spotlight Physical AI and AI-Driven Manufacturing With 402 Exhibitors From 17 Countries

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Rainbow Robotics, Neuromeka and Samhyun to exhibit Nov. 4–7 near Seoul; NVIDIA and Qualcomm to participate in conference

GOYANG, South Korea, Nov. 3, 2026 /PRNewswire/ — ROBOTWORLD 2026 will bring together 402 companies from 17 countries at the Korea International Exhibition Center (KINTEX) Nov. 4–7. The 1,198-booth exhibition will explore how Physical AI and AI-driven manufacturing systems are being developed for industrial applications.

International exhibitors will include Taiwan’s Advantech, Japan’s FANUC and China’s Booster Robotics, PAXINI and Unitree. A Canadian delegation of 10 technology companies will participate in the exhibition and conference, while companies from India and Bangladesh will exhibit at ROBOTWORLD for the first time.

The International Robot Business Conference 2026 will extend the discussion of industrial applications through 36 sessions on Nov. 4–5. Its three tracks — Manufacturing AX (AI transformation), Humanoid with Physical AI and Mobility — will address AI adoption in production, robot intelligence and mobility across industrial and service environments. The Manufacturing AX track will feature presentations by representatives from Qualcomm and Advantech, while a speaker from NVIDIA will present in the Humanoid with Physical AI track. Qualcomm will also sponsor the exhibition.

According to the International Federation of Robotics’ World Robotics 2026 report, global industrial robot installations reached a record 603,307 units in 2025, marking an 11% increase from the previous year and surpassing 600,000 units for the first time. Asia accounted for 76% of all newly installed industrial robots, with 457,315 units installed, up 14% year-on-year. Global installations are forecast to reach 655,000 units in 2026, reflecting the continued expansion of industrial automation.

Against this industrial backdrop, the exhibition will explore Physical AI technologies that enable robots to perceive their surroundings, assess conditions and perform physical tasks. Korean exhibitors will address both task intelligence and the platforms and components that enable movement and manipulation.

Rainbow Robotics will exhibit its RBY mobile humanoid and RBQ quadruped series, while Neuromeka will present its Physical Skill Foundation (PSF) technology alongside the EIR humanoid and NAMI mobile humanoid platforms. Neuromeka describes PSF as supporting task execution involving unfamiliar objects and changing work environments. Samhyun will showcase its AXLON actuator series for robot joint actuation, torque control and linear motion, together with the BOLDUM autonomous transport robot for industrial material handling with payloads of up to 3 metric tons.

Beyond individual robots, the exhibition will examine AI-driven manufacturing through systems that combine collaborative robots, autonomous mobile robots (AMRs), machine vision and manufacturing software. Exhibitors will demonstrate how process data and material flows can inform robot and equipment operations across production processes.

Humanoid, food-tech and healthcare pavilions will provide focused views of these technologies and their applications. The newly established humanoid pavilion will cover complete robots, actuators, reducers, sensors, controllers and AI software. The food-tech pavilion will feature cooking, serving and kitchen automation. The returning healthcare pavilion will cover surgical, rehabilitation, wearable and care robots, as well as hospital logistics.

Business programs will connect the technology presentations with opportunities for procurement, exports and investment. Export and procurement matchmaking sessions will run Nov. 4–6, with suppliers and prospective buyers matched in advance for one-to-one meetings. A seminar on entering international markets will be held on Nov.5 providing practical information on certification requirements in different countries.

Global Scale-up Day on Nov. 6 will be open to small and medium-sized enterprises as well as startups in AI and robotics seeking investment and growth capital. Conducted entirely in English, the program will bring together venture capital firms, accelerators, strategic investors and M&A specialists.

“With increased participation by global companies and the addition of national and special pavilions, we hope this year’s exhibition will showcase the capabilities of Korean robotics companies and expand opportunities for practical cooperation between Korean and international businesses,” a ROBOTWORLD representative said.

ROBOTWORLD 2026 will take place at KINTEX Exhibition Center 1, Halls 3–5, in Goyang. Information on exhibitors, conference sessions and business programs are available at https://eng.robotworld.or.kr/.

About ROBOTWORLD

ROBOTWORLD is an international robotics exhibition covering industrial and service robots, core components, AI software and manufacturing automation solutions, alongside a conference and business programs. ROBOTWORLD 2026 is hosted by South Korea’s Ministry of Trade, Industry and Resources (MOTIR) and jointly organized by the Korea Association of AI Robot Industry (KAR), the Korea Institute for Robot Industry Advancement (KIRIA) and the Institute of Control, Robotics and Systems (ICROS).

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How President Xi Jinping Has Charted the Course for Boosting China’s Strength in Finance: Nurturing a Financial Culture with Chinese Characteristics

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BEIJING, Nov. 4, 2026 /PRNewswire/ — A news report from en.qstheory.cn:

Boosting strength in finance requires us to enhance not only China’s hard power but also its soft power. With an outstanding financial culture, we can shape the values that orient the financial sector, create internal incentives and constraints, and provide the moral foundations for the law and supervision. In this regard, President Xi Jinping has stressed the need to operate in an honest and trustworthy way and never cross the line; to prioritize the greater good in the pursuit of interests, rather than placing self-interest above all else; to adopt a steady and prudent approach and resist the urge to recklessly seek quick gains; to uphold fundamental principles while breaking new ground and ensure finance does not become decoupled from the real economy; and to uphold the law, ensure regulatory compliance, and refrain from misconduct. These requirements not only draw on the essence of traditional Chinese culture, but also articulate the philosophy underpinning modern finance.

Honesty is the lifeblood of finance. Since its advent, finance has been intrinsically tied to trust. China’s commercial traditions have long placed a premium on honoring one’s commitments. The requirement to operate in an honest and trustworthy way and never cross the line aims to turn the pursuit of honesty into a binding code of conduct that spans all dimensions of financial activity and ensure that financial institutions and practitioners consciously honor their commitments. In this way, the spirit of the contract, market rules, and professional ethics will become conscious norms throughout the financial sector, leaving no room for fraud or breaches of trust.

Properly managing the relationship between principle and profit is the linchpin for balancing the dual nature of finance. While capital is inherently profit-seeking, it must adhere to the baseline requirement of upholding principle. Finance is both functional and profit-driven in nature. The unique wisdom of Chinese culture lies in valuing both principle and profit, while placing greater emphasis on the former. At its core, the requirement to prioritize the greater good in the pursuit of interests aims to ensure that the pursuit of profit gives way to the functional role of finance. Financial activities must remain anchored in the overriding goals of enhancing the efficiency of the real economy and improving public wellbeing. The financial sector must fulfill its social responsibilities and develop symbiotically with the economy, society, and the environment.

Prudence can be thought of as an “immune system” preventing the spread of risk. As finance carries risk in its very DNA and has the effect of amplifying leverage, the reckless pursuit of quick gains must be avoided at all costs in the financial sector. So-called innovation and growth pursued without sufficient prudence will ultimately backfire. A steady and prudent approach must therefore become an innate part of the self-discipline and conscious practice guiding the sector. Institutions must cultivate the correct perspectives on operations, performance, and risk management. They need to strike the right balance between stability and progress, between short-term and long-term development, and between development and security, all aimed at steady and sustainable high-quality development.

*This is an excerpt from an article titled “How President Xi Jinping Has Charted the Course for Boosting China’s Strength in Finance” by Qiushi Editorial Department published in Qiushi Journal, English edition, No. 2, 2026. Full text: https://en.qstheory.cn/2026-05/25/c_1184007.htm 

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Avaada Electro Achieves Major Milestone with 7.1 GW of ALMM-Enlisted TOPCon Solar Cell Manufacturing Capacity

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MNRE’s latest notification recognises 7,117 MW of N-type TOPCon solar cell manufacturing capacity at Avaada Electro’s Butibori facility in MaharashtraAdvanced G12 TOPCon technology with manufacturer-declared cell efficiency reaching up to 26.8% reinforces India’s growing capabilities in solar manufacturing.

MUMBAI, India, Nov. 4, 2026 /PRNewswire/ — Avaada Electro Limited, the solar manufacturing arm of Avaada Group, has achieved a significant milestone in India’s clean energy manufacturing journey, with 7,117 MW (7.117 GW) of N-type TOPCon solar cell manufacturing capacity enlisted under the Ministry of New and Renewable Energy’s (MNRE) 13th revision of the Approved List of Models and Manufacturers (ALMM) List-II, dated 28 October 2026.

The enlistment marks an important step in Avaada Electro’s journey towards building a globally competitive solar manufacturing enterprise and strengthening India’s domestic solar technology ecosystem.

At a time when the world is seeking more diversified and resilient clean energy supply chains, India’s ability to manufacture advanced solar cells at scale is becoming increasingly important. Avaada Electro’s Butibori facility in Maharashtra represents a significant contribution to this national ambition.

Advanced Technology: Making Every Watt Count

A key highlight of the latest ALMM enlistment is Avaada Electro’s G12 N-type TOPCon solar cell technology, with manufacturer-declared maximum cell efficiency reaching up to 26.8% and the highest listed average cell efficiency of 25.89%.

The company’s G12 full-cell model has a declared maximum power output of 11.81 watts per cell.

These technical parameters reflect the potential of advanced TOPCon technology to generate more electrical power from a given silicon cell area, supporting the development of higher-power solar modules.

As solar technology advances, improving conversion efficiency remains an important pathway towards better utilisation of materials, manufacturing resources and installation infrastructure.

For Avaada Electro, the focus is not simply on achieving higher technical specifications, but on translating technological progress into consistent product quality, dependable performance and competitive manufacturing economics.

Manufacturing at Scale: Strengthening India’s Solar Supply Chain

With 7.117 GW of annual enlisted nameplate capacity, Avaada Electro’s Butibori manufacturing facility actual production and saleable output will depend on operating utilisation, manufacturing yields and product mix.

The scale of this manufacturing platform strengthens Avaada Electro’s ability to serve India’s expanding solar industry, including module manufacturers, renewable energy developers and engineering, procurement and construction companies.

It also contributes to the development of domestic manufacturing capabilities at a time when India is working to strengthen supply-chain resilience, promote industrial self-reliance and reduce dependence on imported solar components.

Beyond Capacity: Building a Culture of Manufacturing Excellence

Avaada Electro believes that manufacturing leadership cannot be measured by installed capacity alone.

Long-term competitiveness requires continuous improvement in cell efficiency, production yields, product reliability, manufacturing productivity and cost per watt.

The company is building its manufacturing approach around three fundamental principles:

First Time Right: Building quality into every stage of production.Every Time Right: Delivering consistent quality through disciplined processes.Everything Right: Integrating product performance, operational excellence, responsible manufacturing and customer satisfaction.

Through its continued investment in advanced TOPCon technology and manufacturing capabilities, Avaada Electro aims to build a dependable domestic supply platform capable of competing on quality, technology and cost.

Chairman’s Statement

Commenting on the milestone, Vineet Mittal, Chairman and Whole-time Director, Avaada Electro Limited, said, “India’s clean energy future cannot depend only on how much solar power we install. It must also depend on how much technology we develop, how much we manufacture ourselves, and how effectively we compete with the world.

Our 7.1 GW TOPCon solar cell manufacturing enlistment is an important milestone in that journey.

But manufacturing leadership is not about building the biggest factory. It is about making better products, improving efficiency every day, maintaining uncompromising quality and earning the trust of customers through consistent performance.

At Avaada, we believe that every improvement in technology must ultimately create value for our customers, for the environment and for our country. Our ambition is simple to Make in India. Compete with the world. Make every watt count. This milestone is not the destination. It is another step towards demonstrating that India can build advanced clean energy technology at scale and with globally competitive standards.”

Supporting India’s Energy Security and Manufacturing Ambitions

India’s energy transition presents an opportunity that extends far beyond renewable power generation. It offers the country a pathway to develop advanced industrial capabilities, create skilled employment, strengthen domestic supply chains and become an important participant in global clean energy manufacturing.

Avaada Electro aims to contribute to this transformation by combining manufacturing scale, technological development, disciplined operations and long-term customer relationships.

As the solar industry evolves, the companies that succeed will be those capable of delivering not only more manufacturing capacity, but also greater productivity, consistent quality and better value from every watt.

For Avaada Electro, the 7.1 GW ALMM enlistment represents an important foundation for that journey.

About Avaada Group

Avaada Group is an Indian integrated energy transition company with businesses spanning renewable power generation and advanced solar manufacturing. Through Avaada Electro, the Group is developing domestic solar photovoltaic cell and module manufacturing capabilities, with a focus on advanced N-type TOPCon technology, manufacturing excellence, product reliability and customer value.

The Group is committed to supporting India’s energy security, clean energy transition and ambition to become a globally competitive manufacturing economy.

For further information, visit www.avaada.com 

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