RiskPulse: Cybersecurity Aug 2023

Description

Baker Ing’s RiskPulse Dashboard for August 2023 distils essential insights from the expansive cybersecurity landscape, providing a concise, real-time analysis tailored for swift decision-making.

Key Insights:

1. Worldwide Risk Score (WRS): The Cybersecurity sector registers a moderate WRS of 6.3 out of 10, reflecting the combined impact of weak global financial conditions, decelerating economic performance, and heightened geopolitical risks, especially from the ongoing Ukraine conflict.
2. WRS Development: A year-by-year progression of the WRS, noting the rise to 6.2 in 2020 during COVID, its subsequent drop in 2021, and the present landscape in 2023 that suggests cautious optimism.
3. Sector Dependencies: Unpack how the sector’s health intertwines with economic performance, highlighting the importance of disposable income, business environment, and the industry’s inherent innovative spirit.
4. Revenue Outlook: Observe a projected sector revenue of USD172bn for 2023, and its expected evolution to an impressive USD260bn by 2027.
5. Challenges and Outlook: While the COVID-19 pandemic didn’t hinder the sector, it now faces increased threat sophistication, security challenges, and geopolitical tension impacts.
6. Commercial Landscape: The accelerating pace of digitalisation means escalating cyberattack threats and costs. Understand the key drivers behind market innovation, from market structure to financial availability for R&D and M&A activities.

This dashboard serves as a critical accompaniment to our thorough Cybersecurity Landscape 2023 Report. While the RiskPulse offers an immediate pulse-check, the full report delivers an immersive exploration into the sector’s intricacies.

For a comprehensive dive, check out the full Cybersecurity Landscape 2023 Report here.