The astonishing growth of new technologies and solutions in the cyber security market was spurred by the increased number of data breaches across the globe, rising digitalization, and increasingly sophisticated cyber intrusions. A report from MarketsAndMarkets projected that the global cyber security market is poised to reach $266.2 billion by 2027, growing at a CAGR of 8.9% from 2022 to 2027. The report said: “Targeted attacks have seen a rise in recent years, infiltrating targets’ network infrastructure and maintaining anonymity. Attackers with a specific target in mind mostly attack endpoints, networks, on-premises devices, cloud-based applications, data, and other IT infrastructures. The primary motive behind targeted attacks is to intrude on targeted companies’ or organizations’ networks and steal critical information. As a result of these targeted attacks, business-critical operations in organizations are negatively impacted in terms of business disruptions, intellectual property loss, financial loss, and loss of critical and sensitive customer information. The impact of targeted cyberattacks affects not only targeted organizations but also domestic and global customers. In today’s virtual enterprise network environment, targeted threats are constantly increasing in volume, breadth, and complexity. Due to the diverse nature of threats, it has become a challenge to understand the type of attacks. With the rapidly changing nature of threats and to avoid any loss of sensitive information, it is vital to deploy multi-layered cyber security solutions at the initial stage of security solutions enabling protection against any type of cyberattacks. The evolving nature of threats has become the top security challenge for organizations. Cyber-attacks have significantly increased over the last five years and have become a top security challenge for both large and SMEs.” Active tech companies in the markets this week include Trend Innovations Holding Inc., Fortinet, Inc. CrowdStrike Cloudflare, Inc., and Check Point® Software Technologies Ltd.
Another report from Spherical Insights went even further projecting that: “The Global Cybersecurity Market Size To Grow USD $501.6 Billion By 2030 at a CAGR of 11.6%. The global cybersecurity market is dominated by North America, which has the world’s largest number of cybersecurity vendors. The region, comprising the US and Canada, boasts the most advanced infrastructure and has a significant technological adoption and infrastructure. North America is expected to be the largest contributor to the global cybersecurity market in terms of market size. The regional presence of key industry players offering cybersecurity technology solutions is the main factor driving the growth of the North American cybersecurity industry. The region is at the forefront in terms of cyber technology adoption. The changing working scenarios because of COVID-19, BYOD trend, IoT, adherence to compliance and regulations, and elevating risks from APT threats are prompting organizations to adopt cyber security solutions.”
Trend Innovations Holding Inc. BREAKING NEWS: Trend Innovations Holding’s (TREN) Newly Acquired AI Technology Successfully Proves It’s Highly Effective in Real-Time Cybersecurity Incidents – Trend Innovations Holding Inc. (“TREN” or the “Company”), a company creating, developing and acquiring innovative software technologies providing complex solutions utilizing Artificial Intelligence (AI) as well as providing Information Technology (IT) that includes consulting services, including project management and software administration, financial and asset management, service management and event management for IT solutions, today announced that together with GBT Technologies Inc. (OTC PINK: GTCH) (“GBT”), they mutually and successfully tested Avant! AI in a theoretical cybersecurity incident simulation. In the simulation, Avant! AI proved to have superior capabilities when performing real-time cyber incident analysis, identifying weak spots, assessing the impact experienced across the organization, and recommending immediate technical remediation methods in the $200+ billion Global Cybersecurity market.
Natalija Tunevic, the President, CEO of TREN said, “The Global Cybersecurity Market was valued at $220.51 billion in 2021, and the worldwide cybersecurity market is expected to reach $501.6 billion by 2030. Our Avant! AI machine learning technology will help the Company to compete for a substantial percentage of this ever-growing market. Avant! AI was trained to analyze the cybersecurity incident in our simulation by pointing out threats and vulnerabilities, prioritizing remediation methods, and recommending a course of action for recovery.”
Tunevic continued, “Avant! also proved to have superior capabilities by successfully recommending efficient response strategies to contain, eradicate and recover from the cyber incident. Finally, it also evaluated and recommended communication strategies during the incident, internally and publicly.
“The Company plans to continue its efforts to adapt Avant! AI performs as an intelligent cybersecurity agent so that it can assist organizations with monitoring, identifying, remediating, and recovering from any potential cyber-attacks. By conducting such simulations, organizations can identify weaknesses in their security posture, improve incident response procedures, and ultimately reduce the likelihood of a successful cyberattack.”
The Company believes that robust cybersecurity theoretical incident simulations are essential in helping organizations proactively prepare for potential cyber threats and enhancing their ability to respond to security incidents effectively. Avant! AI was trained to perform as an intelligent agent for a large-scale corporation, to analyze a simulated cyber-attack, reach conclusions, recommend mitigation methods, and quickly recover the attacked company back to regular operation. Particularly, in today’s economy, it is insufficient to simply identify and mitigate cyberattack incidents. The future of an entire organization depends on how fast it can return to regular operations in order to stay in business. The process involves logical, calculated threat modeling, risk assessment, and how organizations handle the challenges of leading a crisis, responding, and recovering. During the simulation, Avant! AI considered technical remediations, executive team decisions, public communication, and aftermath improvements.