BOTS Inc to Offer Portfolio of Cybersecurity Services
BOTS, Inc., an emerging innovator of products, technologies, and services for the rapidly growing digital robotic automation and manufacturing industry announced that the Company is offering a portfolio of Cyber Security Services including cyber threat monitoring and analysis through Israel based operations centers, real-time monitoring, and industry-specific threat intelligence and incident response services. The Company is developing plans to set up operations centers in the U.S.
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BOTS Inc cybersecurity services are supported by a cloud-based platform that delivers an uninterrupted threat intelligence monitoring through a portal that will be available on the Company website.
“Cybersecurity has become one of the most critical business necessities for all organizations worldwide in every industry,” said Paul Rosenberg, Chief Executive Officer. “With the addition of BOTS Cyber – Security Services business, we will offer comprehensive cyber-security services for businesses to detect and manage threats and phishing attempts aimed at their companies and employees.”
“Companies face an ever-increasing volume of cyber threats that are highly-sophisticated and targeted to their businesses. They can no longer rely simply on generic in-the-box solutions. With the BOTS Cyber Security Services business, we can now offer our clients services powered by advanced analytics, automation, and machine learning.”- added Mr. Rosenberg.
Cybersecurity Ventures reported recently that the cybersecurity market is continuing its stratospheric growth and hurtling towards the trillion-dollar mark that we originally predicted on May 31, 2017. They anticipate 12-15 percent year-over-year cybersecurity market growth through 2021, compared to the 8-10 percent projected by several industry analysts.
The most massive cybersecurity budgets belong to Fortune 500 corporations, with financial institutions seemingly having the deepest pockets. In a 2018 letter to its shareholders, Jamie Dimon, chairman, and CEO at J.P. Morgan Chase & Co. (NYSE: JPM), states that the financial services giant spends roughly $600 million each year on cybersecurity (up from a projected $500 million in 2016), with a staff of around 3,000 IT security people.
U.S. Government spending on cybersecurity
The 2019 U.S. President’s budget includes $15 billion for cybersecurity, a $583.4 million (4.1 percent) increase over 2018. The Department of Defense (DoD) was the largest contributor to the budget. The DoD reported $8.5 billion in cybersecurity funding in 2019, a $340 million (4.2 percent) increase over 2018.
Driven by the federal government’s desire to enhance agency cybersecurity posture at every possible level, Deltek forecasts the demand for vendor-furnished information security products and services by the U.S. federal government will increase from $10.9 billion in FY 2018 to over $14.1 billion in FY 2023 at a compound annual growth rate (CAGR) of 5.3 percent.
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