Cyber Security
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India's Cybersecurity Market Hits $6 Billion, Poised for 5% Global Share by 2028
The cybersecurity products segment alone witnessed an extraordinary leap, catapulting more than 3.5 times from $1 billion in 2019 to an impressive $3.7 billion in 2023.
Report Reveals 761 Cyber Threat Detections per Minute in India for 2023
Behavior-based detections accounted for 49 million instances, constituting 12.5 percent of the total detections.
RBI Urges Banks to Strengthen Cybersecurity Amidst Rising Fraud Cases
In his address at the FIBAC 2023 conference, Rao highlighted the rapidly evolving banking landscape, emphasizing the rise in financial inclusion, customer access, product diversity, and convenience.
Cyber protection company Acronis lays off employees amid restructuring
“We will prioritise projects and initiatives that immediately benefit our partners: Best-in-class product capabilities, reliability and performance, top-notch technical and business education, and increased sales and marketing support,” Acronis said in a blog post.
Cisco to acquire cybersecurity leader Splunk for $28 bn in GenAI era
Upon close of the acquisition, Splunk’s CEO, Gary Steele, will join Cisco’s Executive Leadership Team, reporting to Cisco Chairman and CEO Chuck Robbins.
IBM confirms acquisition of Polar Security reportedly for $60 mn
Founded in January 2021, Polar Security is a pioneer of data security posture management (DSPM), an emerging cybersecurity segment that reveals where sensitive data is stored, who has access to it, how it's used, and identifies vulnerabilities.
Patent filings soar 13.6% in India, tech domain leads
Further, the year witnessed a rise in the share of domestic filings to 44.4 per cent of total patents filed, compared to 41.6 per cent in FY2021, according to Nasscom which released the report on the occasion of World Intellectual Property Day. Out of the 584,000 patents filed in India between FY2010 and FY2022.
China probes US chip maker in apparent retaliation
The Cyberspace Administration of China (CAC) will review products sold by Micron in the country, CNN quoted a statement issued by the watchdog as saying. The move is aimed at "ensuring the security of key information infrastructure supply chains, , preventing cybersecurity risks caused by hidden product problems.
Global cybersecurity market grows 16% to reach $17.8 bn in Q3
Cisco was the second-largest cybersecurity vendor, with growth of 16.7 per cent and a flat market share of 6.9 per cent. Fortinet placed third, achieving growth of 29.9 per cent to reach a 6.7 per cent market share, up from 6 per cent a year ago, according to market research firm Canalys. Endpoint security was the fastest-growing category, up 18.7 per cent year on year at $2.7 billion.
A firm faced 270 cyber attacks on average at $3.6 mn per incident: WEF study
Perhaps even more troubling is the growing trend that companies need 280 days on average to identify and respond to a cyberattack. As many as 80 per cent of cyber leaders stressed that ransomware is a dangerous and evolving threat to public safety, with 50 per cent of respondents indicating that ransomware is one of their greatest concerns when it comes to cyber threats, according to WEF's 'Global Cybersecurity Outlook 2022', released during its online Davos Agenda summit.
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