Recent Cyber Attacks Drive Growth in Cyber Security Markets

FinancialBuzz.com, prnewswire.com

The cyber security market is one of the fastest growing industries in the past few years. According to a report published by Zion Market Research, the global cyber security market is expected to reach $181.77 billion in 2021, with a compound annual growth rate of 9.5 percent from 2016 to 2021. The market is growing rapidly due to increasing penetration of the internet and growing adoption of cloud computing. Demand for cyber security solutions and products are expected to increase in the forecast period as cyber threats and cyber-crimes continue to grow. Big Wind Capital Inc. (CSE: BWC), FireEye, Inc. (NASDAQ: FEYE), Palo Alto Networks, Inc. (NYSE: PANW), CyberArk Software Ltd. (NASDAQ: CYBR), Symantec Corporation (NASDAQ: SYMC).

The report also indicates that North America is the world’s largest market for cyber security, while emerging markets in Asia Pacific will have a huge opportunity. The need for government, military, financial organizations, hospitals and other organizations to protect confidential data on computers is one of the major factors that drive the cyber security market. The cyber security market is divided into network security, cloud security, wireless security and others. Network security is dominating the market, with over 40 percent of market shares.

Big Wind Capital Inc. (CSE: BWC) listed on the Canadian Stock Exchange under the Ticker “BWC” and Hill Top Security Inc, (“HTSI”) announced earlier today that, “HTSI has filed a patent for its Vauban cyber security platform, which provides an unprecedented level of risk assessment to help prevent and respond to cyber security attacks, including ransomware, Denial of Service (DoS) and malware. The company recently signed an LOI agreement with Big Wind, pursuant to which Big Wind intends to acquire various interests in HTSI and its assets. The patent filing covers the Vauban’s platform’s unique, secure complex event processing system. Vauban was developed by HTSI’s in-house team, which is comprised of former U.S. military officers and personnel.

Hill Top’s Vauban Cyber Security Platform: – Military-grade cybersecurity platform, called Vauban, aimed at small to medium-sized businesses (SMB). – Unique, world-leading ability to analyze and validate potential system threats – both internal and external. – Patent filing entitled ‘Computerized System and Method for Providing Cybersecurity Detection and Response Functionality’, covers Vauban’s multi-layered threat assessment system and processes. – Vauban has been developed by a team of security experts with substantial military and commercial experience and the company holds a Top-Secret clearance based on the work it currently carries out for the U.S. government.

SMB Cyber Security Statistics: – Small-to-medium sized businesses have become the top target for cyber criminals. – Estimated $75 Billion per year is lost to ransomware attackers alone. – Average hourly cost to small businesses being $8,581/hr in lost productivity. – SMB’s (2,500 employees or less) number over 27 million. – Total addressable market expected to exceed $2.2 Billion by 2020

Corby Marshall, CEO of Hill Top Security, said, “Small businesses have become the number one target for cyber criminals. The sheer volume and sophistication of modern cyber-attacks has reached the stage at which most companies cannot protect themselves without equally advanced defence mechanisms. This patent filing reflects our unique, unprecedented ability to scrutinize and assess potential cyber threats. The very limited resources available to most small businesses means the biggest gap in defences is the ability to both detect but assess and prioritize threats at a very early stage. Our Vauban platform addresses that vulnerability with a specialised, multi-layered approach.”

Dev Randhawa, CEO of Big Wind, commented, “Hill Top Security is filling a gap in the cyber defences of small and medium-sized businesses that, until now, has left companies highly vulnerable. With its strong, military background, Hill Top’s team and its technology is of the highest calibre and we are excited at the potential as we move forward with them.”

FireEye, Inc. (NASDAQ: FEYE) is the intelligence-led security company. Working as a seamless, scalable extension of customer security operations, FireEye offers a single platform that blends innovative security technologies, nation-state grade threat intelligence, and world-renowned Mandiant consulting. On August 1st, FireEye reported financial results for the second quarter that had better than expected guidance revenue and improved operating margins. “We executed well against our priorities in the second quarter, delivering billings, revenue, earnings per share and operating cash flow above expectations,” said Kevin Mandia, FireEye chief executive officer. “We have made great progress rationalizing our cost structure, and reduced our operating losses by more than $100 million in the first six months of the year compared to the first six months of 2016.”

Palo Alto Networks, Inc. (NYSE: PANW) is the next-generation security company, leading a new era in cybersecurity by safely enabling applications and preventing cyber breaches for tens of thousands of organizations worldwide. On July 14th, Palo Alto Networks announced that Bank OCBC NISP – one of the oldest and largest banks in Indonesia – selected the Palo Alto Networks Next-Generation Security Platform to strengthen security as the bank pursues a mobile, digital-first business strategy. “Compared to other offerings we evaluated, the threat identification and prevention capabilities of the Palo Alto Networks Next-Generation Security Platform are of a different standard and allow our staff to work securely from anywhere. It has transformed our productivity,” Filipus H. Suwarno, technology security and governance division head, Bank OCBC NISP, said.

CyberArk Software Ltd. (NASDAQ: CYBR) is the only security company focused on eliminating the most advanced cyber threats; those that use insider privileges to attack the heart of the enterprise. Dedicated to stopping attacks before they stop business, CyberArk proactively secures against cyber threats before attacks can escalate and do irreparable damage. On May 4th, CyberArk announced cloud automation capabilities that enable customers to protect against advanced security threats in dynamic cloud environments. CyberArk’s cloud automation capabilities incorporate the CyberArk Amazon Machine Images and Amazon Web Services CloudFormation templates that are specifically optimized for AWS environments.

Symantec Corporation (NASDAQ: SYMC) , the world’s leading cyber security company, helps organizations, governments and people secure their most important data wherever it lives. Organizations across the world look to Symantec for strategic, integrated solutions to defend against sophisticated attacks across endpoints, cloud and infrastructure. On July 6th, Symantec announced that it has entered into an agreement to acquire Israel-based Fireglass, the leading agentless isolation solution that eliminates ransomware, malware and phishing threats in real-time by preventing potentially harmful content from ever reaching user endpoints or the corporate network. With this acquisition, Symantec further strengthens its Integrated Cyber Defense Platform and dramatically extends the Company’s leadership in Secure Web Gateway and Email protection delivered both on premises and in the cloud.

DCL: All of these Cyber attack detection systems will be using some forms of home-grown CEP although only one of them mentions that explicitly. This is obviously a growth area for CEP. One wonders exactly how much CEP is being used – event abstraction hierarchies perhaps?

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