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Industry Landscape
The cybersecurity and risk management industry is experiencing rapid growth, driven by increasing digital transformation, the proliferation of cyber threats, and evolving regulatory landscapes. Organizations are seeking comprehensive solutions for attack surface management, supply chain risk, and actionable threat intelligence to protect their digital assets and ensure compliance.
Total Assets Under Management (AUM)
Cybersecurity Market Size in United States
~Approximately $250 billion in 2023
(13-15% CAGR)
- Increased investment in security solutions.
- Rising awareness of cyber risks.
- Regulatory compliance pressures.
Total Addressable Market
Approximately $250 billion
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Generative AI for Threat Detection
Utilizing advanced AI models to predict, identify, and simulate novel cyber threats and attack vectors, enhancing proactive defense capabilities.
Zero Trust Architecture (ZTA)
Implementing a security framework that requires strict identity verification for every user and device, regardless of network location, to minimize attack surfaces.
Attack Surface Management (ASM) Automation
Automating the continuous discovery, inventory, classification, and monitoring of an organization's digital assets to identify and remediate vulnerabilities in real-time.
Impactful Policy Frameworks
NIST Cybersecurity Framework (CSF) 2.0 (2024)
NIST CSF 2.0 is an update to the voluntary framework for improving critical infrastructure cybersecurity, expanding its scope to all organizations and emphasizing governance, supply chain risk management, and continuous improvement.
This policy will drive increased adoption of comprehensive risk management practices, pushing businesses like Bitsight to align their offerings with the framework's expanded guidelines, especially in supply chain risk and governance reporting.
SEC Cybersecurity Disclosure Rules (2023)
The U.S. Securities and Exchange Commission (SEC) mandated new rules requiring public companies to disclose material cybersecurity incidents within four business days and annually report on their cybersecurity risk management, strategy, and governance.
This regulation directly increases the demand for accurate, real-time cyber risk intelligence and executive reporting tools, directly benefiting Bitsight's focus on security ratings and governance solutions for publicly traded companies.
Cyber Incident Reporting for Critical Infrastructure Act of 2022 (CIRCIA)
CIRCIA requires critical infrastructure entities to report covered cyber incidents and ransomware payments to the Cybersecurity and Infrastructure Security Agency (CISA) within specific timeframes.
This act will increase the need for robust incident response planning, continuous monitoring, and the ability to rapidly assess and report on cyber risks, strengthening the market for Bitsight's intelligence and monitoring capabilities.
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