The global cybersecurity market was valued at USD 150.37 billion in 2021 and is expected to reach a value of USD 317.02 billion by 2027, registering a CAGR of 13.37%. Cybersecurity protects the network, information, and personal data from cyberattacks and the trends of BYOD, AI, IoT, and machine learning in cybersecurity are rapidly growing. The cybersecurity industry ecosystem comprises several regional clusters of cybersecurity firms contributing to global market dynamics. Ransomware attacks have ravaged many state and local public sector agencies, with JBS Foods paying an USD 11 million ransom to REvil ransomware threat actors in June 2021.