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Cybersecurity Report 2024: Market Data, Innovations & more

The cybersecurity industry is rapidly evolving, driven by increasing cyber threats and advancements in security technologies. This report on cybersecurity explores key market data as well as areas of innovation and their implications for companies and governments worldwide.
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The 2024 Report on Cybersecurity explores the changing terrain of digital security while highlighting noteworthy progress and new trends. With the increasing complexity of cyber threats, the industry has responded with new technologies and more investment. This report gives an in-depth analysis of key developments and provides insights into workforce trends, investment behaviors, and innovative solutions that are influencing the trajectory of cybersecurity.

This cyber security outlook serves as a reference for stakeholders within the industry, investors, policymakers, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.

StartUs Insights 2024 Report on Cybersecurity Market

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Executive Summary: Cybersecurity Report 2024

This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 4.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 5700+ cybersecurity startups developing innovative solutions to present five examples from emerging cybersecurity industry trends.

  • Industry Growth Overview: The cybersecurity industry has seen a 0.78% growth rate in the past year with a total of 197000 companies in the sector.
  • Manpower & Employment Growth: The global cybersecurity workforce is at 16.1 million, with an increase of 1 million employees in the past year.
  • Patents & Grants: The sector holds 151000 patents, indicating its innovation and technological progress. It has also received 10100 grants, which show considerable research and development funding.
  • Global Footprint: Country hubs contributing to cybersecurity growth include the US, Germany, the UK, India, and Canada. City hubs for the industry are London, New York City, Berlin, Singapore, and Sydney.
  • Investment Landscape: The industry has witnessed active investment activity, with 35000 funding rounds and an average investment value of USD 46 million per round. The sector has drawn over 11800 investors and aided more than 14200 companies.
  • Top Investors: Insight Partners, Kohlberg Kravis Roberts, and Tiger Global Management, among others, have collectively invested over USD 22 billion.
  • Startup Ecosystem: Five startup features include Newky (Digital Keys), Cyclops (Risk Prioritization), ClearTrust (Ad Fraud Mitigation), Arcanna.ai (AI-Assisted Cybersecurity), and Parcoor (IoT Security & Anomaly Detection).
  • Recommendations for Stakeholders: Investors should focus on funding cybersecurity solutions such as threat detection and prevention technologies. Companies need to implement thorough security frameworks, regularly update their systems, and cultivate a culture of cyber security awareness among employees to protect their digital assets. Further, law enforcement and intelligence agencies should improve information sharing and adopt advanced analytics to protect critical infrastructure.

Explore the Data-driven Cyber Security Report for 2024

The Cybersecurity Report 2024 uses data from the Discovery Platform and encapsulates the key metrics that underline the sector’s dynamic growth and innovation. The cybersecurity industry has seen a steady growth of 0.78%. Our database includes 5700+ startups from a total of over 197000 companies, indicating the sector’s broad reach. The industry is also innovating as evidenced by more than 151000 patents and 10100 grants.

The global workforce in cybersecurity is at 16.1 million, with an increase of 1 million employees in the last year. The country hubs contributing to this growth are the US, Germany, the UK, India, and Canada. Important city hubs are London, New York City, Berlin, Singapore, and Sydney. The heatmap illustrates the distribution and density of the cybersecurity companies and their workforce, showing the industry’s evolving landscape.

What data is used to create this cybersecurity report?

Based on the data provided by our Discovery Platform, we observe that the cybersecurity industry ranks among the top 5% in the following categories relative to all 20K topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.

  • News Coverage & Publications: The industry has had over 83000 publications in the past year, indicating its relevance and public interest.
  • Funding Rounds: Our database contains data on over 35000 funding rounds, showing financial support and investor confidence.
  • Manpower: With over 16.1 million workers globally, the industry added over 1 million new employees in the past year.
  • Patents: The cybersecurity sector holds over 151000 patents, indicating its innovation and technological progress.
  • Grants: The industry has received over 10100 grants, showing research and development funding.
  • Yearly Global Search Growth: The sector has seen a 61.98% growth in global search interest, indicating its visibility and importance.
  • and more. Book a demo to explore all data points used to create this cybersecurity report.

A Snapshot of the Global Cybersecurity Industry

The cybersecurity industry is experiencing steady growth of 0.78%. The sector employs around 16.1 million individuals worldwide, with an addition of 1 million new employees in the past year. This workforce expansion indicates the rising demand for cybersecurity expertise in various sectors. Moreover, the industry includes over 197000 companies and highlights its broad reach and the increasing number of organizations focused on cybersecurity solutions.

Explore the Funding Landscape of the Cyber Security Industry

Investment activity in the sector is active, with an average investment value of USD 46 million per funding round. This financial support shows investor confidence in the industry’s prospects. Moreover, the cybersecurity industry has completed more than 35000 funding rounds. This is backed by a diverse group of over 11800 investors. This considerable investment activity has aided more than 14200 companies, further enabling their growth and innovation in cybersecurity technologies. These data points together underscore the industry’s substantial contributions to the global security infrastructure and its crucial role in safeguarding digital assets.

Who is Investing in Cyber Security?

The combined investment value by investors in the cybersecurity industry is more than USD 22 billion. Here are the investors along with their invested value in USD and the number of companies they have invested in:

Explore the firmographic data of the emerging trends in cybersecurity:

  • The cloud data security trend is expanding, with 1573 companies identified in this space. It employs a total of 127500 individuals, with an addition of 11100 new employees in the last year. This trend experienced a growth rate of 5.8% in the last year.
  • Cyber security analytics is an important and growing field, comprising 1012 companies and employing 147100 individuals. Over the past year, the sector has seen an influx of 10200 new employees. In addition, the trend is experiencing an annual trend growth rate of 13.08%.
  • Post-quantum cryptography is emerging as a trend, with 175 companies dedicated to this field. The sector employs 8600 individuals, with 979 new employees joining in the last year. This trend shows an annual growth rate of 62.32, indicating the importance of developing cryptographic systems resistant to quantum computing threats.

5 Top Examples from 5700+ Innovative Cybersecurity Startups

The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a platform demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.

Newky produces Digital Keys

Turkish startup Newky creates a digital key to the physical world through its cybersecurity software that pairs users with vehicles, doors, devices, and folders. It utilizes technologies such as optical character recognition (OCR), face-based biometrics, data anonymization, and liveness detection. These technologies prevent fraud, abuse, and unauthorized use. Further, Newky’s platform enhances security while saving companies time and money.

Cyclops enables Cyber Security Risk Management

Israeli startup Cyclops offers an AI-Powered Risk Management platform. This platform consolidates alerts and data points from all security tools. An autonomous AI-powered correlation engine normalizes, enriches, and analyzes this data. A unified security intelligence graph displays all data relations in the organization. CyclopsIQ suggests queries for additional insights based on user role, past query history, and current trends. Further, the automation workflows define ownership, map business lines, tag critical assets, open and track tickets in ticketing systems, remediate vulnerabilities, and mitigate threats. In addition, Cyclops Copilot uses AI to decipher and comprehend free text entered by users in the search window.

ClearTrust enables Ad Fraud Mitigation

Indian startup ClearTrust provides a cybersecurity platform for mitigating ad fraud and invalid traffic. This B2B SaaS solution offers real-time protection against cyber threats. Its proprietary intelligence allows it to adapt and evolve its algorithms. The low latency ensures real-time detection and blocking of threats, while a scalable and flexible filter system tailors to unique business needs. The startup’s advanced techniques and behavioral analysis detect and prevent fraudulent activities. Further, its user-friendly dashboard provides actionable insights and detailed analytics. ClearTrust integrates into existing advertising ecosystems and offers a cost-effective and scalable solution suitable for businesses of all sizes.

Arcanna.ai builds Decision Intelligence Platform

US-based startup Arcanna.ai develops an AI-powered cybersecurity platform that augments and scales SOC analyst capacity. The decision intelligence platform mimics human decision-making in the SOC and integrates information from SOC tools and processes. This integration enhances decision-making and automates post-decision actions. The platform uses natural language processing, deep learning, and a human-on-the-loop approach. Further, Arcanna.ai’s context-aware AI models incorporate cybersecurity and organizational distinctiveness knowledge and experience, which streamlines threat handling and mitigates risk associated with alert fatigue.

Parcoor provides IoT Security & Anomaly Detection

French startup Parcoor specializes in monitoring and enhancing protection for IoT devices. The startup offers embedded software solutions that ensure the high availability of connected equipment. Its on-device solutions comprise independent blocks: system monitoring and machine learning (ML) signal classification. These blocks work together to detect anomalies in the device’s current state. The first block, core monitoring, provides actionable insights from the deep core of systems. Whereas, the second block, signal processing, is an in-house cutting-edge machine learning layer designed for embedded systems.

Looking for Comprehensive Insights into Cybersecurity Trends, Startups, or Technologies?

The 2024 report on cybersecurity shows a dynamic and evolving sector, driven by increasing digital threats and technological advancements. Trends like cloud data security, cyber security analytics, and post-quantum cryptography are shaping the future, protecting against sophisticated cyber attacks. Book a platform demo to explore all 5700+ startups and scaleups, as well as all industry trends impacting cybersecurity companies.

 

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