Find stats on top websites

Industry Landscape

The IT and Communications industry is experiencing rapid evolution, driven by digital transformation, cloud adoption, and the increasing sophistication of cyber threats. Hybrid work models necessitate robust UCaaS and collaboration tools. Specialized solutions for verticals like healthcare and education are in high demand, emphasizing integrated, secure, and scalable systems.

Industries:
UCaaSCybersecurityManaged ServicesCloud SolutionsDigital Transformation

Total Assets Under Management (AUM)

Managed Services Market Size in United States

~$101.4 billion (2023)

(8.1% (2023-2028 CAGR) CAGR)

Growth driven by demand for cybersecurity, cloud services, and network management. Enterprises seek to reduce operational costs and enhance efficiency. Focus on specialized services for critical sectors.

Total Addressable Market

500 billion USD

Market Growth Stage

Low
Medium
High

Pace of Market Growth

Accelerating
Deaccelerating

Emerging Technologies

AI-powered Cybersecurity

AI and machine learning are increasingly used to detect and respond to sophisticated cyber threats in real-time, moving beyond traditional signature-based detection.

Generative AI in UCaaS/CCaaS

Generative AI is transforming unified communications and contact centers by enabling advanced automation, personalized customer interactions, and intelligent assistant functionalities.

Edge Computing for IoT/OT

Edge computing pushes data processing closer to the source (e.g., IoT devices, operational technology) to reduce latency, enhance security, and enable real-time analytics.

Impactful Policy Frameworks

Cybersecurity and Infrastructure Security Agency (CISA) Shields Up (2022)

CISA's 'Shields Up' campaign urges organizations to strengthen their cybersecurity defenses against potential cyberattacks, providing resources and guidance for critical infrastructure protection.

This policy increases the demand for comprehensive cybersecurity services, threat intelligence, and compliance assistance from providers like Global CTI.

HIPAA Omnibus Rule (2013, with ongoing enforcement)

The HIPAA Omnibus Rule strengthens patient privacy protections, increases penalties for breaches, and extends compliance requirements to business associates of healthcare providers.

This rule mandates secure and compliant data handling, communication systems, and physical security measures, driving demand for specialized HIPAA-compliant solutions from Global CTI in healthcare.

NIST Cybersecurity Framework (CSF) 2.0 (2024 Update)

NIST CSF 2.0 provides a comprehensive framework for organizations to understand, manage, and reduce cybersecurity risks, emphasizing governance and supply chain risk management.

This updated framework influences best practices and compliance requirements for all sectors, prompting organizations to seek partners like Global CTI who can implement and align their security architectures with these robust guidelines.

Transform Your Ideas into Action in Minutes with WaxWing

Sign up now and unleash the power of AI for your business growth