The Cybersecurity services market is expected to grow 5.7% year over year. The growth is primarily due to companies resuming operations and adapting to the new normal while recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working, and the closure of business activities that resulted in operational challenges.
The cybersecurity services market consists of the sale of cybersecurity services that are used in IT and telecommunications and other industries.Cybersecurity refers to the collection of technologies, processes and practices designed to protect networks, computers, software and data from online attacks, data destruction or theft.
The increasing cases of massive cyber-attacks are a key factor driving the growth of the cybersecurity services market. The main motive behind cybercrimes is political competition, financial gain, negative credibility, foreign competition and radical involvement of religious groups.
Leveraging AI, machine learning, and blockchain technologies for cyber defense is a key trend in the cybersecurity services market. Cybersecurity vendors are integrating artificial intelligence (AI) and machine learning principles into their solutions to address crucial hyperconnected risks in the workplace, with faster identification, prevention and response capabilities, advances in technology such as AI and machine learning turn the tables against cybercrime.
Cybersecurity experts are therefore leveraging AI and machine learning technology to solve emerging cyber threats faced by individuals, businesses, and governments.