Tag Archive for: market

Managed Security Services Provider (MSSP) Market News: 15 November 2023


Each business day, MSSP Alert delivers a quick lineup of news, analysis and chatter from across the managed security services provider ecosystem.

  • The Content: Written for MSSPs and MSPs; threat hunters; security operations center as a service (SOCaaS); managed detection and response (MDR) and eXtended detection and response (XDR) providers; and those who partner with such companies.
  • Frequency and Format: Every business morning. Typically, one or two sentences for each item below.
  • Reaching Our Inbox: Send news, tips and rumors to Managing Editor Jim Masters: [email protected].

Today’s MSSP, MSP, MDR, XDR and Cybersecurity Market News

1. Security Partnership: Cloud Range, a cyber range-as-a-service solution provider, is partnering with Washington Technology Solutions (WaTech) to engage in incident response training to enhance the state of Washington’s cyber readiness and prepare practitioners to detect and remediate threats. WaTech operates the state’s core technology services, providing strategic and comprehensive information security to protect state networks from increasing cyber threats while serving state agencies, county, city and tribal governments, and public-benefit nonprofits.

2. Zero Trust Security Certification: The Cloud Security Alliance (CSA), an organization dedicated to defining standards, certifications and best practices to help ensure a secure cloud computing environment, is offering the Certificate of Competence in Zero Trust (CCZT). CSA created the CCZT to help security professionals build knowledge to drive the definition, implementation and management of zero trust.

3. Leadership Move: Adlumin, a managed detection and response (MDR) provider, has hired Jessvin Thomas as its first chief product officer. With more than two decades of cybersecurity experience at organizations, including Barracuda Networks, Optiv and Blackstone Group, Thomas will lead Adlumin’s product and services teams to continue developing innovative offerings that solve critical security needs.

4. New Security Center Debuts: Living Security, a specialist in human risk management, has launched the Human Risk Operations Center (HROC), fueled by Living Security’s Unify Platform….

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Industrial and Commercial Bank of China suffers ransomware attack; trades in US Treasury market disrupted: Report


Industrial and Commercial Bank of China (ICBC), the country’s largest commercial lender by assets, reportedly suffered a ransomware attack on Thursday that disrupted the trades in the US Treasury market. However, the impact of the ransomware attack seemed to be limited, Reuters reported.

In a statement, ICBC Financial Services said a ransomware attack resulted in disruption to certain systems and it was conducting an investigation and “progressing its recovery efforts.”

The bank said it had successfully cleared Treasury trades executed on Wednesday and repurchase agreements (repo) financing trades done on Thursday.

The Treasury trades executed on Wednesday and repurchase agreements (repo) financing trades done on Thursday had been successfully cleared, the bank said.

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Bloomberg reported citing people familiar with the situation that a prolific criminal gang known as Lockbit is suspected to have orchestrated the hack.

According to some market participants, trades going through ICBC were not settled due to the attack and this affected market liquidity, Reuters reported.

In ransomware attacks, hackers encrypt an organization’s systems and demand ransom payments in exchange for unlocking them. 

The Financial Times earlier had reported that the US Securities Industry and Financial…

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Application security market to grow by USD 16.68 Billion between 2022-2026 | The market is driven by the growing number of data leaks


NEW YORK, Nov. 5, 2023 /PRNewswire/ — According to Technavio, the global application security market size is estimated to grow by USD 16.68 billion from 2021 to 2026. The market is estimated to grow at a CAGR of 25.55% during the forecast period. The market is driven by the growing number of data leaks. Globally, the number of cybercrimes is growing at an alarming rate. For instance, the number of data breaches jumped to 68% in 2021 compared to the previous year. In March and April 2020, hackers leaked the login credentials of staff at the World Health Organization (WHO). Similarly, in April 2020, about 500,000 passwords of Zoom users, a virtual meeting app, were stolen and were made available for sale in the black market. The increasing incidences of cyber attacks is compelling enterprises to invest in security solutions to safeguard critical areas of concern, which is driving the growth of the market. Gain deeper insights into the market study. Buy the report!

Application security market – Five Forces
The global cloud data warehouse market is fragmented, and the five forces analysis covers– 

  • Bargaining Power of Buyers 
  • The threat of New Entrants
  • Threat of Rivalry
  • Bargaining Power of Suppliers
  • Threat of Substitutes
  • Interpretation of porter’s five models helps to strategize the business. For highlights – Download Sample Report

Application security market – Customer Landscape 

The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Application Security Market – Segmentation Assessment

Segment Overview
Technavio has segmented the market based on end-user (web application security and mobile application security) and geography (North America, Europe, APAC, Middle East and Africa, and South America). 

  • The market growth in the web application security segment will be…

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Cybersecurity Mesh Market to reach $5 Bn by 2032, Says


Selbyville, Delaware, Oct. 29, 2023 (GLOBE NEWSWIRE) —

The cybersecurity mesh market valuation is expected to surpass USD 5 billion by 2032, as reported in a research study by Global Market Insights Inc.

Increasing advancements in the IT environment are predicted to have a positive impact on the industry outlook. Modern IT ecosystems are becoming more complex and interconnected, with a combination of on-premises systems, cloud services, mobile devices, and IoT devices. Traditional perimeter-based security approaches are no longer sufficient to protect these diverse systems. This has pushed the use of cybersecurity mesh for more adaptable and context-aware security models that can protect these complex environments effectively.  

The cybersecurity mesh market from the SMEs segment is set to generate substantial revenues by 2032, owing to increasing adoption cloud-based technologies in organizations to streamline their operations and reduce costs. These cloud-based solutions, however, expose the firms to new security risks. This is bolstering the demand for cybersecurity mesh solutions for cloud-native security capabilities, allowing SMEs to secure their cloud environments effectively.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/5769

The cybersecurity mesh market share from government segment is slated to witness remarkable growth between 2023 and 2032, driven by the vast amount of sensitive data government agencies possess. The cybercriminals, state-sponsored hackers, and other malicious actors often attempt to breach government systems to gain access to classified information or disrupt critical infrastructure. This has prompted governments to invest heavily in cybersecurity solutions, including cybersecurity mesh, to protect their networks, systems, and data, adding to industry share.

Europe cybersecurity mesh market is estimated to grow massively through 2032, attributed to the digital transformation across various sectors, including finance, healthcare, manufacturing, and government services in the region. The governments across the region have implemented strict data protection regulations such as…

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