The global edge computing market was valued at US$39,887 million in 2022 and is projected to grow at a CAGR of 17.8% during the forecast period 2023-2033.

The global military cyber security market was valued at US$14,187 million in 2021 and is projected to grow at a CAGR of 5.8% during the forecast period 2022-2032.

The adoption of remote work due to the pandemic has compelled companies to upgrade their security control systems to ensure the safety and privacy of their employees. Owing to the significant increase of threats and data risks, large investment is made by IoT security manufacturers and the government for advancements in IoT security.

The importance of cybersecurity is increasing so is the funding for it. Fundamentally, society is more technologically reliant than it has ever been, and this tendency shows no signs of slowing.

Cyber risk is far more than a data breach, as traditional insurance companies are quickly understanding. Hackers and/or system failures can cause physical damage, accidents, and theft, and digital technology has introduced a wide range of unexpected hazards that undermine existing insurance coverage.