In the realm of technology, the landscape of cybersecurity is ever-evolving, marked by shifts in patent applications and notable trends in strategic deals. These dynamics underscore the industry’s concerted efforts to fortify its defenses against emerging threats and position itself at the forefront of cybersecurity innovation. The impact of cybersecurity extends beyond the technology sector, influencing various industries. GlobalData’s cybersecurity market report provides comprehensive analysis of the market. 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.
The industry experienced an 11% decline in the number of cybersecurity-related patent applications in Q1 2024 compared with the previous quarter. On an annual basis, the number of cybersecurity-related patent applications in the technology industry witnessed a rise of 2% compared with Q1 2023.
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 Q1 2024, the number of cybersecurity-related deals in the technology industry grew by 2% compared with Q1 2023. On a quarterly basis, there was 16% increase in the number of deals in Q1 2024 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q1 2024, the technology industry experienced a 42% growth compared with the previous quarter. On an annual basis, job postings also grew by 13%. Notably, computer and mathematical occupations, with a share of 32%, emerged as the top cybersecurity-related job roles within the technology industry in Q1 2024, with new job postings rising by 18% quarter-on-quarter. Management occupations came in second with a share of 15% in Q1 2024, with new job postings rising by 47% over the previous quarter. The other prominent cybersecurity roles include sales and related occupations with a 5% share in Q1 2024, and business and financial operations occupations with a 5% share of new job postings.
Palo Alto Networks, Accenture, Motorola Solutions, CrowdStrike, and Zscaler are among the top companies leading in cybersecurity hiring within the technology industry.
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 India also maintain significant positions in cybersecurity adoption within the technology industry.
In conclusion, despite fluctuations in patent applications and deal trends, the technology industry's commitment to cybersecurity remains steadfast, as evidenced by ongoing investments and a surge in job postings. These collective efforts signify a dedicated push towards bolstering cybersecurity measures and safeguarding digital infrastructure in an increasingly interconnected world.
To further understand GlobalData's analysis on cybersecurity in the technology industry, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData patent analytics tracks patent filings and grants across companies and themes. Proprietary databases on deals and job analytics are used to respectively monitor global deal activity and uncover insights from daily job postings to identify trends, company activities, and industry dynamics across different sectors globally.
