Cyber Insurance Market Is Dominated by BFSI Category The cyber insurance market was USD 11,904.6 million in 2022, and it will reach USD 48,328.4 million, growing at a CAGR of 19.1%, by 2030 as per a report by a market research institution, P&S Intelligence. The growth in the cyber insurance industry is attributed to the adoption of cyber insurance as a risk mitigation strategy, the growing number of virus, malware, and various types of attacks on IT networks, and the increasing regulation concerning cybersecurity. The healthcare category is expected to witness the fastest growth, progressing at a rate of more than 20%. The growing digitalization and increasing internet penetration in the healthcare sector to access individual information easily have resulted in online vulnerabilities, because of which crucial data are being exposed to external and internal threats. Due to such factors, the healthcare vertical has become a main target for attackers in recent years. Therefore, to shield themselves from mitigating related and malicious intent losses, numerous healthcare organizations are choosing cyber insurance. Read More: https://www.psmarketresearch.com/market-analysis/cyber-insurance-market

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Mobile VPN Market Growth To Be Fastest in Asia-Pacific (APAC) The growth of the mobile virtual private network (MVPN) market is being driven by the increasing rate of cybercrime and rising demand for remote accessibility in large businesses. In 2017, revenue of $525.4 million was generated from the sales of the such solutions, which is predicted to witness a 19.7% CAGR during the forecast period (2018–2023), to surge to $1,560.7 million in 2023. A VPN uses the public internet to channel the traffic securely and secretly to a network from a computer or mobile phone. On the basis of end user, the mobile VPN market is divided into government, telecommunication, financial, healthcare, utilities, military, oil and gas, mining, and others. During the historical period (2013–2017), the telecommunication division held the largest share, as with the increasing adoption of smartphones, these devices are being used to transfer business-critical information in organizations, which needs to be protected. Till 2023, the healthcare division will grow the fastest in the market due to the usage of these solutions for accessing confidential medical information by healthcare providers. The key trend in the market presently is the adoption of VPNs for cybersecurity. With the increasing popularity of laptops, smartphones, and tablets, businesses are focusing on making their employees and information mobile, at the same time protecting the latter from unauthorized access. For this, MVPN continues to function even after mobile devices exit its coverage area or change networks. In addition, the processing power required and memory print created by MVPNs is smaller than wired VPNs, which allows the applications to run with more speed and the mobile battery to last longer. One of the major drivers for the mobile VPN market is the increasing need for remote operations in large firms. With organizations having employees around the world, they require a centrally managed and simplified remote office, so that business application and database access can be provided to employees at low cost. Moreover, MVPNs offer remote employees flexibility, enhance productivity and user satisfaction, reduce help desk expenditure, and provide better support for issues that are common with VPNs. Another major factor boosting the growth of the mobile VPN market is the increase in the number of cyberattacks. Because of this, $655 billion was estimated to be spent on cybersecurity solutions between 2015 and 2020, of which $113 billion was estimated to be specifically for securing mobile devices. As organizations grow, they generate increasing amounts of sensitive data, which makes them a potential target for cybercriminals. With a lot of this data now being stored on and exchanged via mobile devices, the demand for MVPNs is rising. In 2017, the mobile VPN market generated the highest revenue in North America, because of the high incidence of cyberattacks, rapid sales of mobile phones, increasing implementation of the bring-your-own-device (BYOD) policy, heavy public and private spending on cybersecurity, and technological advancements. The fastest growth during the forecast period will be witnessed by Asia-Pacific (APAC), as a result of the rising sales of smartphones in India and China. Moreover, the increasing penetration of the internet, strict regulations regarding cybersecurity, and rapid industrializing are driving the demand for MVPN solutions in APAC. Hence, the market will witness continuous growth around the world as more smartphones are bought and cybersecurity threats increase. Read More: https://www.psmarketresearch.com/market-analysis/mobile-virtual-private-network-products-market

Connected Workplace has A Lot to do with the Increasing Demand for Networking Equipment in the APAC The APAC networking equipment market will have significant growth in the years to come. This is because of the factors like increasing bandwidth requirements and mounting data traffic. Additionally, rising incidents of cyber-attacks are also pushing the demand for networking equipment where organizations are obligated to accept networking security solutions so as to alleviate risks ascending from this kind of attack. The industry is considered into routers, security devices, switches, modems, cables, storage devices, access points, repeaters, bridges, NIC, and others including amplifiers, antennas, and hubs. Of these, routers had the maximum demand in the past. Furthermore, momentous demand for high-speed data transmission from clients has permitted large enterprises to improve network competence at reduced working costs, which will improve the growth prospects for routers in the future. Repeaters with speeds above 300 Mbps will have the largest share in the years to come. Furthermore, the demand for these will exhibit the fastest growth in the near future. This is a result of the requirement of incessant availability of robust network and internet connectivity in administrations in addition to consumers. An unmanaged switch will hold a larger revenue share in the near future. Though, managed switches will register faster growth in the coming years. This is a result of the fact that managed switches bid better control as compared to the data access authorization, and has the aptitude to arrange, accomplish, and monitor the LAN. The initial funding is in managed switches as opposed to unmanaged switches, but large enterprises prefer managed switches because of their improved quality of security and service. The growing hospitality sector is posing a prospect for the APAC networking equipment market. Japan and India are posting healthy development in hospitality sector. Currently, Wi-Fi in hotels is not a luxury facility anymore. As Wi-Fi connection is a vital part of contemporary lifestyle, many guests are seeing the attendance of Wi-Fi facility as a part of their policymaking process whilst confirming reservations. Consequently, increasing the hospitality sector would surge the requirement for networking equipment. Growing acceptance of category 6 cable is one of the main trends in the industry. Before, category 5 and improved category 5e UTP cables had been favored for data applications. Though, new applications necessitate cables with high performance that can deliver superior bandwidth and a high rate of data transfer. Particularly, there was a necessity to decrease both signal attenuation and alien crosstalk amid cable pairs to accommodate the obligation of cutting-edge applications like gigabit ethernet, where four cable pairs are used to communicate data instantaneously. The category 6 cable comes to terms with these necessities with a larger copper conductor to decrease signal reduction between receiver and transmitter. Because of the increasing demand for a connected workplace, increasing penetration of BYOD, the evolution of the OTT industry, and increasing cybersecurity spending, the demand for networking equipment is on the rise in the APAC region. Read More: https://www.psmarketresearch.com/market-analysis/apac-networking-equipment-market

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