Although, on the one hand, it is good data for cybersecurity companies, it is obviously bad for consumers and users, who see how malware and scams do not stop growing, which somehow benefits this market.
Revenues grow 14%
This has been reflected by the consulting firm Canalys in its latest report on the cybersecurity market. In it, he highlighted that this market has grown by 14% in 2022 to 19,600 million dollars, which is precisely in line with the best forecasts that this consultant had made for this market. Spending on cybersecurity technology through this channel has grown by 16.2%, to $18 billion.
The region that has grown the most during 2022 in relation to cybersecurity has been the North American, with 16.3%, up to 10,200 million dollars. She has followed European and Middle East region with growth of 12.9%, with a turnover of 5,900 million dollars. It was followed by the Asia Pacific region, with 2.7 billion dollars and growth of 11.2%.
Lastly the smaller market is represented by latin america, with 690 million dollars and significant growth, the second of the four regions, with 14.4%. Therefore, although it is the one with the lowest turnover, it is the one with the most room for growth in the future. This market is highly fragmented, with no less than 12 cybersecurity providers representing 47.1% of billing during the last quarter of 2022. At the top of this list is “Palo Alto Networks” which has a market share of 7.9%, and profit growth of 24.8%.
Although the highest growth when it comes to profit has been for Crowdstrike, with a positive 45%, even though its market share is only 3.2%. In any case, as indicated from Canalys, the fragmentation of this market is really high and at the moment there are no signs that this is going to change. Therefore, it is evident that the results of this fourth quarter confirm that 2022 has been a good year for cybersecurity, which means that more and more is being invested in it to be more protected.
In the heat of a cybercrime on the rise
These good results are a consequence precisely of this increase in cybercrime. A few days ago we learned that more and more hackers are spending their time phishing through QR codes, a method that has become one of his favorites, since it requires little investment and the return is great. This is a good way to gain access to victim devices by spoofing and coaxing them into clicking malicious links or downloading infected attachments. But this is just the tip of the iceberg, because at the company level, ransomware continues to be the main scourge, with the kidnapping of huge amounts of company data for ransom.
Yes, in recent months The percentage of companies that agree to pay these ransoms has decreased, and it seems that it is increasingly difficult for criminals to find victims in this regard. In any case, the fact that the cybersecurity market is doing well does not mean that cybercrime must necessarily continue to rise, since many of these revenues have to do with the prevention of risks faced by companies and end users in material of security.