Market Opportunity

Cyber Security Industry Growth Potential

The global cyber security market is undergoing rapid expansion, driven by the escalating frequency and sophistication of cyber threats coupled with the increasing digitisation of business operations worldwide. Market research forecasts indicate that the industry, valued at $87 billion in 2024, is expected to burgeon to $271.9 billion by 2029, representing a compound annual growth rate (CAGR) of 26%. This growth is not only a reflection of rising demand for robust cyber security solutions but also signals a significant opportunity for innovative approaches like those offered by $CENTRY.

$CENTRY targets four key challenges in the cybersecurity industry, drawing from both its current mission and the foundational insights of the original $CENTRY project:

High Fees in Cyber Security: Globally, cyber security is a significant financial burden for individuals and businesses due to the high costs associated with securing digital assets against increasing threats. The Global Cyber security Outlook 2024 by the World Economic Forum highlights that the complexity and necessity of cyber security measures continue to drive up costs, which can be particularly challenging for SMEs that may lack the resources for such significant investments (World Economic Forum, 2024).

Lack of Transparency in Cyber Security Billing: The World Economic Forum also notes issues related to the transparency of cyber security efforts, including how costs are calculated and billed. This lack of transparency can lead to difficulties in financial planning and budgeting for businesses, exacerbating the challenge of managing cyber security expenditures (World Economic Forum, 2024).

Rigid Payment Structures in Cyber Security: As reported by Cobalt, the rigid payment structures commonly seen in the cyber security industry often do not align well with the dynamic nature of cyber threats and the evolving needs of individuals and businesses. This can prevent access to the most effective and up-to-date security measures when they are most needed, thus increasing their vulnerability to cyber-attacks (Cobalt, 2024).

Global Cyber Security Job Shortage: According to Cybersecurity Ventures, there were 3.5 million unfilled cybersecurity jobs worldwide in 2021, highlighting a significant skills gap in the industry. This shortage has persisted, with projections suggesting that the number of unfilled positions remains at around 3.5 million through 2025. This gap is creating a bottleneck in the global fight against cybercrime, as there are not enough trained professionals to secure the digital infrastructure against the ever-evolving threats (Cybersecurity Ventures, 2024).

$CENTRY'S Solution:

Transparent Pricing: Leveraging blockchain technology, $CENTRY aims to eliminate hidden fees and provide complete visibility into transaction histories, thereby addressing global concerns about billing transparency in cyber security.

Flexible Access: By allowing users to pay for cyber security services on-demand, $CENTRY addresses the need for more adaptable payment structures that can quickly adjust to the evolving landscape of cyber threats.

Global Accessibility: $CENTRY uses blockchain to lower entry barriers, making high-quality cyber security services affordable and accessible to markets worldwide, particularly benefiting regions, individuals, and businesses previously underserved.

@centry_agent: Introduced by Cybercentry, @centry_agent is a revolutionary tool within the $CENTRY ecosystem. It automate the aggregation and analysis of cyber security information, ensuring users receive up-to-date insights on best practices, compliance updates, and industry developments, enhancing the security posture of users at a fraction of traditional costs. The agent operates seamlessly within the $CENTRY framework, ensuring users can scale their security measures without financial strain.

Leveraging Global Trends for Local Impact

$CENTRY is uniquely positioned to capitalise on the shift towards more digital and decentralised individual and business environments, which demand innovative cyber security solutions. By addressing the specific needs and challenges identified in various global markets, $CENTRY can tailor its offerings to provide maximum value, enhancing its adoption and impact.