Cybersecurity Market Booming to $638B by 2032 Amid Soaring Threats, But Faces Talent Shortage for Advanced AI Defenses
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Global cybersecurity market projected to reach $638.2 billion by 2032 with a CAGR of 13.4% due to increasing cyber threats and regulatory demands.
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AI, machine learning, and cloud security driving innovations and investments, but critical skills gap remains.
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Economic impact severe, with cybercrime estimated to cost global economy $10.5 trillion annually by 2025.
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Cloud security remains largest segment, capturing over 31% revenue share, but facing challenges like misconfigurations.
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Key players like IBM, Cisco, Microsoft investing heavily in advanced solutions like AI, machine learning to combat threats; collaboration across industry also increasing.