Latest News

Network Security Market Set to Reach $58.42 Billion by 2031 Due to Emerging Threats | SkyQuest Technology

Published

5 months ago

June 28, 2024

WESTFORD, Mass., June 28, 2024 /PRNewswire/ — According to SkyQuest, the global Network Security Market size was valued at USD 19.92 Billion in 2022 and is poised to grow from USD 22.45 Billion in 2023 to USD 58.42 Billion by 2031, at a CAGR of 12.70 % during the forecast period (2024-2031).

Network security refers to the act of securing a network and data stored on it. Multiple software and tools are used to ensure network security and the rapidly evolving cyber threat landscape is forecasted to augment the network security demand outlook. Growing investments in bolstering online security are predicted to augment the demand for network security. The global network security market is segmented into type, industry, enterprise size, deployment, and region.

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Network Security Market Overview:

Report Coverage	Details
Market Revenue in 2023	$ 22.45 billion
Estimated Value by 2031 Advertisement	$ 58.42 billion
Growth Rate	Poised to grow at a CAGR of 12.70%
Forecast Period	2024–2031
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Advertisement	Component, End-user, Enterprise Size and Deployment
Geographies Covered	North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunities	Increasing cyber threats targeting network infrastructure
Key Market Drivers	Incorporation of Bring Your Device (BYOD) Policies in Organizations to Boost Demand

Segments covered in Network Security Market are as follows:

Component
- Solution (Firewall, Antivirus/Antimalware, Network Access Control (NAC), Data Loss Prevention, IDS/IPS, Secure Web Gateways, Distributed Denial-Of-Service (DDoS) Mitigation, Unified Threat Management, Vulnerability Scanning, Sandboxing, Others), Service (Professional Service (Design & Implementation, Consulting, Training & Education, Support & Maintenance), Managed Services)
End-user
- Aerospace & Defense, IT & telecom, Government, Banking, Financial Services, & Insurance (BFSI), Healthcare, Retail, Manufacturing, Energy & Utilities, Others
Enterprise Size
- Small & Medium Enterprises, Large Enterprise
Deployment
- On-Premises, Cloud

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Firewall to Remain the First Line of Defence in Any Network Security Solution

Firewall is the primary line of defense for any network and this is why it is the most prominent sub-segment for network security companies to invest in. Firewall keeps a track of everything that is shared across a network and monitors its sources whether they are internal or external. Surging demand for advanced intrusion prevention technologies is also forecasted to help the firewall sub-segment’s prominence. Firewalls can easily stop and detect threats that could go unmissed by other network security measures.

The rapidly evolving cyber threat landscape and the growing prevalence of cyberattacks and data breaches are promoting the use of antivirus/antimalware software and solutions. High investments in the development of novel antivirus products to cover new threats and viruses are also forecasted to help this sub-segment bolster network security market growth. Secure web gateways (SWGs) are also emerging in popularity as a highly popular type of network security solution. An increasing number of websites on different networks are opting for secure web gateways to enforce better network security measures.

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BFSI Industry to Remain Highly Lucrative for Network Security Providers

The banking, financial services, and insurance industry is forecasted to lead the demand for network security over the coming years. The BFSI industry deals with highly valuable information from customers directly converting into financial security, which is why this industry needs to deploy the most advanced type of network security measures available in the market. Rapid digitization of the BFSI sector and the increasing number of digital transactions depending on networks are also estimated to bolster the demand for network security in this sub-segment.

Governments are also expected to promote the adoption of advanced network security measures to safeguard crucial data from cyberattacks and data breaches. Increasing adoption of paperless solutions in governments around the world will bolster the importance of network security going forward. Healthcare, aerospace, and defense are also expected to emerge as highly lucrative industry verticals for network security providers across the forecast period and beyond.

Cloud Segment to Gain Prominence in Network Security Deployment

The majority of organizations around the world are focusing on utilizing cloud platforms and technologies to optimize their businesses, which is why cloud-based network security software and solutions are gaining popularity around the world. Network security companies should focus on cloud technologies to stay relevant in the future.

The BFSI industry vertical will be a gold mine of opportunities for network security providers of all kinds across the forecast period and beyond. Network security companies should also focus on continually updating their offerings to keep up with the rapidly evolving threat landscape. New companies can target any segment to penetrate the market whereas established network security providers need to select their segments smartly to get the best return on their investments.

Related Reports:

Cyber Security Market

Secure Access Service Edge (SASE) Market

Edge Security Market

Application Security Market

Identity And Access Management (IAM) 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: [email protected]
Visit Our Website: https://www.skyquestt.com/

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Latest News

COCA Celebrates Q2 2024 with Record-Breaking Milestones and New Launches

Published

4 months ago

August 7, 2024

CISION (PR Newswire)

HONG KONG, Aug. 7, 2024 /PRNewswire/ — COCA, a pioneering force in the crypto wallet and financial services industry, has achieved several remarkable milestones in Q2 2024. Thanks to the steadfast support of its user community, COCA has launched new features, expanded its partnerships, and garnered prestigious accolades, further solidifying its position as a leader in the crypto space.

Launch of Physical Cards

COCA has introduced its highly anticipated physical cards, which are now available globally and compatible with Apple Pay and Google Pay. These cards allow users to make transactions with ease, earning cashback rewards on their purchases. This significant launch marks a step forward in integrating crypto with everyday financial activities, enhancing user convenience and financial flexibility.

Wallet Growth Milestone

The company has reached a significant milestone with 510,000 active wallets, reflecting a 102% growth quarter-on-quarter. This surge in active wallets highlights the increasing trust and adoption of COCA’s platform, as more users join the COCA community to manage their crypto assets securely and efficiently.

Transaction Volume Surge

In Q2 2024, COCA processed over USD 450,000 in transactions through its platform, demonstrating the robust usage and popularity of its financial services. This impressive transaction volume underscores COCA’s commitment to providing smooth and efficient crypto payment solutions.

Integration with Revolut

COCA has made it easier for users to fund their wallets by integrating with Revolut. This new feature allows seamless loading of crypto assets, enhancing the overall user experience and accessibility of COCA’s services.

Award Recognition

COCA has been honoured with the “Best Startup” award in the Financial Revolution category at CONF3RENCE & BLOCKCHANCE 2024. This award is a testament to COCA’s innovative approach and significant impact on the future of finance, recognizing its efforts in driving forward the digital financial ecosystem.

New Strategic Partnerships

COCA has formed strategic partnerships with industry leaders such as Wirex Pay and GoMining. These collaborations aim to provide users with enhanced rewards and a superior overall experience. The partnerships signify COCA’s dedication to expanding its ecosystem and delivering greater value to its users.

Welcoming Pavel Matveev

COCA is excited to announce the addition of Pavel Matveev, Founder of Wirex, to its team as a Strategy and Product Advisor. Pavel’s extensive experience and visionary approach are expected to drive COCA’s strategic initiatives and product development, contributing to the company’s continued growth and innovation.

Season 2 Point System Launch

Season 2 of COCA’s popular point system has launched, offering users the opportunity to earn points through various activities, including trades, referrals, holding assets, and spending with COCA cards. With a prize pool of USDT 3500 and 5 Wirex Pay Nodes, this season promises exciting rewards and increased user engagement. The season ends on August 9th, so users are encouraged to participate actively.

NFT Giveaway

In a special giveaway, COCA distributed 1000 GoMining NFTs to lucky users. These NFTs provide unique benefits, including enhanced mining capabilities and exclusive digital collectibles, adding significant value to the user experience.

For further details on COCA’s Q2 achievements and upcoming initiatives, visit the company’s blog.

Website: coca.xyz

COCA continues to redefine the crypto experience with its innovative solutions, seamless integrations, and user-focused approach. The company’s recent milestones and future plans highlight its commitment to leading the way in the digital financial landscape.

About COCA

COCA is a next-generation crypto super app designed to simplify and secure the crypto experience for users worldwide. With innovations in security, usability, and integration, COCA is at the forefront of the digital asset revolution. For more information, visit coca.xyz.

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Latest News

Stake and Earn with KuCoin’s Innovative GemPool Platform

Published

4 months ago

August 7, 2024

CISION (PR Newswire)

VICTORIA, Seychelles, Aug. 7, 2024 /PRNewswire/ — KuCoin, a leading global cryptocurrency exchange, is excited to announce the launch of GemPool, its innovative new platform that allows users to acquire token airdrops as a reward for staking their crypto assets. This unique product is designed to provide early access to emerging crypto projects while offering rewards for their existing holdings at zero cost. By staking respective tokens in separate pools, users can farm new tokens and gain a foothold in the latest developments within the cryptocurrency market.

GemPool also offers flexible staking terms, allowing users to stake and un-stake their assets anytime within the designated period without lock-up restrictions. This flexibility ensures that users can manage their assets according to their preferences and market conditions. Additionally, GemPool provides zero-cost rewards, enabling users to earn tokens while holding their existing cryptocurrencies. By staking their tokens, users contribute to the growth of promising new projects, supporting innovation and development within the crypto space. With completion of tasks offered, users are eligible to earn multiplier bonus and receive more rewards.

Users can participate by staking KCS, USDT, or other specified assets in designated pools. The rewards are earned according to the respective yields of the pools, ensuring a fair and exciting experience for all users.

For more information on how to participate and the benefits of GemPool, please visit the KuCoin GemPool page.

About KuCoin

Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 900 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 34 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/.

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Latest News

Trust Wallet Launches Gamified Education Platform and Loyalty Program to Enhance and Reward Web3 Learning

Published

4 months ago

August 7, 2024

CISION (PR Newswire)

DUBAI, UAE, Aug. 7, 2024 /PRNewswire/ — Trust Wallet, the world’s leading self-custody Web3 wallet and Web3 gateway trusted by over 130 million users, has launched Trust Wallet Quests, a gamified education platform within the Trust Wallet mobile app which encourages users to earn points while exploring and learning about Web3.

Users can engage in task-based challenges ranging from quizzes to complex problem-solving scenarios composed of various DeFi and Web3 activities, all designed to deepen their understanding of blockchain technology and decentralized applications (dApps), and expose them to exciting opportunities within Web3. As an incentive, users will earn Trust Points, a loyalty-based points system designed to reward user activity within the Trust Wallet mobile app. With Trust Points, users can earn rewards upon the completion of specific tasks, making Web3 more rewarding and fun.

In the future, Trust Points will offer additional gamification features, such as unlocking achievements, badges, and levels. This interactive approach not only boosts individual learning but also contributes to broader community education and adoption of decentralized technologies, making Trust Wallet Quests a dynamic and exciting way to reward loyal users and engage with communities in Web3.

On the motive for launching Trust Wallet Quests, Eowyn Chen, CEO of Trust Wallet, stated: “The complex technology and fast-paced industry can be intimidating for both new and seasoned users. The introduction of Quests on Trust Wallet further solidifies our commitment to making it easier for millions to navigate Web3, aligning perfectly with our mission to build a seamless Web3 hub and open ecosystem for all.”

Nate Zou, Head of Product at Trust Wallet, highlighted what to expect from Trust Points and Trust Wallet Quests: “Trust Points and Quests are just the first iteration of a much-needed reward system for our community. Within 2024, we have plans to build on this, combining rewards with many of our other web3 product offerings. Overall, we envision this points system not only changing how users engage with Trust Wallet, but also encouraging more collaboration between Trust Wallet, our users and other web3 ecosystem players.”

Trust Wallet Quests and Trust Points are now available on both Android and iOS versions of Trust Wallet’s mobile app. Download here: https://short.trustwallet.com/TrustWalletQuests

About Trust Wallet

Trust Wallet is the self-custody, multi-chain Web3 wallet and Web3 gateway for people who want to fully own, control, and leverage the power of their digital assets. From beginners to experienced users, Trust Wallet makes it easier, safer, and convenient for millions of people around the world to experience Web3, access dApps securely, store and manage their crypto and NFTs, buy, sell, and stake crypto to earn rewards, all in one place and without limits.