Cybersecurity, as a pivotal force, is transforming the realm of the technology sector and shaping its landscape. Groundbreaking patents are steering the industry’s evolution as companies solidify cutting-edge solutions, fortifying digital defenses and ushering in a transformative era marked by secure access and heightened data integrity. Simultaneously, strategic deals underline the sector’s resilience, with companies navigating a dynamic job market to meet the evolving demands of cybersecurity, unveiling a future where protection and innovation go hand in hand. The impact of cybersecurity extends beyond the technology sector, influencing various industries. GlobalData’s cybersecurity market report helps keep abreast of the latest trends in cybersecurity, market opportunity forecast and the competitive landscape. Buy the report here.
This article presents a quarterly round-up of the latest trends in the technology industry regarding cybersecurity. It provides an overview of recent developments in cybersecurity-related deals, talent acquisition, and patent filings within the technology industry.
Diverse applications of cybersecurity in technology industry
Technology companies in the field of cybersecurity have recently acquired patents that will enable them to innovate and improve their businesses. Weka.IO LTD has obtained a patent for an authenticated stateless mount string for a distributed file system. This technology allows for secure access to a file system using a cryptographically-signed key. BeeKeeperAI Inc has acquired a patent for synthetic and traditional data stewards, which provide confirmation of data selection in a zero-trust environment. This technology ensures the accuracy and completeness of datasets. Airties S.A.S has obtained a patent for client steering in a mesh network, optimizing the connection of a station by analyzing metrics and signal strength. Lastly, eBay Inc has acquired a patent for digital image presentation, allowing for the adjustment of cropping views based on identified regions of interest. These patents will benefit the acquirers by enhancing their cybersecurity technologies and applications, ensuring secure access, data integrity, network optimization, and improved user experiences.
The industry experienced a 15% decline in the number of cybersecurity-related patent applications in Q3 2023 compared with the previous quarter. On an annual basis, the number of cybersecurity-related patent applications in the technology industry witnessed a drop of 20% compared with Q3 2022.
Strategic deal trends in cybersecurity in technology industry
Technology companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in cybersecurity. These investments aim to secure lucrative deals with partners and position themselves at the forefront of industry advancements. Some of the recent deals underscore the importance of cybersecurity in the technology industry.
In Q3 2023, the number of cybersecurity-related deals in the technology industry declined by 30% compared with Q3 2022. On a quarterly basis, there was 4% drop in the number of deals in Q3 2023 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q3 2023, the technology industry experienced a 8% drop compared with the previous quarter. On an annual basis, job postings also declined by 35%. Notably, computer and mathematical occupations, with a share of 37%, emerged as the top cybersecurity-related job roles within the technology industry in Q3 2023, with new job postings drop by 5% quarter-on-quarter. Management occupations came in second with a share of 14% in Q3 2023, with new job postings dropping by 5% over the previous quarter. The other prominent cybersecurity roles include sales and related occupations with a 7% share in Q3 2023, and business and financial operations occupations with a 5% share of new job postings.
Countries driving adoption of cybersecurity in technology industry
The US is the leading country in cybersecurity adoption within the technology industry, boasting the highest number of cybersecurity-related patents, jobs, and deals. Meanwhile, China, the UK, Israel and Canada also maintain significant positions in cybersecurity adoption within the technology industry.
In conclusion, the technology industry charts a forward trajectory with strategic acquisition of cybersecurity patents, fostering innovation. Simultaneously, pivotal deals and evolving job dynamics underscore industry resilience, shaping a future defined by enhanced digital protection and technological advancement.
To further understand GlobalData's analysis on cybersecurity in the technology industry, buy the report here.