In the modern information age when more and more things are getting connected, cybersecurity becomes an ever-relevant topic. Major data breaches, such as the 2014 hacking of Yahoo’s online platform, saw hundreds of millions of accounts being affected. Today, potentially AI-enabled phishing and network intrusion are some of the most common cyberattacks experienced by organizations, causing serious damages including information or revenue loss.
The information security market includes subsegments such as identity access management (IAM), infrastructure protection, and security services. Global security spending on IAM is forecasted to reach over 20 billion U.S. dollars in 2023. Spending on security services, the largest segment of the information security market, is projected to reach nearly 76.5 billion U.S. dollars in the same year.