The global cyber security market size is expected to reach USD 311.73 Billion at a steady CAGR of 7.6% in 2028, according to latest analysis by Emergen Research. Adoption of cloud-based services in various industries has increased thus driving growth of the cyber security market to a significant extent. Enterprises are increasingly adopting cloud-based services as this is less expensive and does not require an IT infrastructure setup. Cloud deployment leads to vulnerabilities in software and makes information easily accessible by cyber criminals. Companies are focused on improving their cyber security software to protect their data from cyber-attacks.
Retailers, medical service providers, and public entities witness the highest number of breaches and malware is mostly responsible for most of these incidents. Some sectors are more attractive for cyber criminals and they collect medical and financial data, but all sectors are vulnerable and can be targeted for corporate espionage, customer data, and customer attacks. Attacks on cyber security can result in identity theft, extortion attempts, and loss of important and sensitive data, which is driving demand for more effective cyber security solutions.
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Some Key Highlights From the Report
- Encryption is a cyber-security measure which protects personal and private data through the use of unique codes that scramble the data and make it almost impossible for intruders to read. Even if there is a data breach, encryption ensures institution’s private data is safe even when cyber criminals get past the firewall.
- The professional services segment accounted for largest revenue share in 2020. Increased demand is due to use of cyber security software in enterprise risk assessment, penetration testing, employee training, physical security testing, and cyber security defense. With the use of extensive information and knowledge, companies could reduce additional costs.
- Key players in the market include IBM Corporation, Cisco Systems, Juniper Networks, CyberArk, Forcepoint, McAfee, Microsoft, F5 Networks, Oracle, and Fortinet.
Cyber Security Market Segmentation:
Emergen Research has segmented the global cyber security market on the basis of component, solution, services, security type, deployment, organization size, end-use, and region:
- Component Outlook (Revenue, USD Billion; 2018–2028)
- Hardware
- Software
- Solution Outlook (Revenue, USD Billion; 2018–2028)
- Threat Intelligence
- Identity and Access Management
- Security and Vulnerability Management
- Risk and Compliance Management
- Others (Others include threat intelligence platforms, SIEM, and incident forensics)
- Encryption
- Data Loss Prevention
- Network DLP
- Storage/ Data Center DLP
- Endpoint DLP
- Unified Threat Management
- Firewall
- Antivirus/ Antimalware
- Intrusion Detection Systems/ Intrusion Prevention Systems
- Network-based
- Host-based
- Wireless
- Disaster Recovery
- Distributed Denial of Service
- Web Filtering
- Others (Other solutions include application whitelisting and patch management)
- Threat Intelligence
- Services Outlook (Revenue, USD Billion; 2018–2028)
- Professional Services
- Design and Integration
- Risk and Threat Assessment
- Consulting
- Training and Education
- Support and Maintenance
- Managed Security Services
- Professional Services
- Security Type Outlook (Revenue, USD Billion; 2018–2028)
- Application Security
- Network Security
- Cloud Security
- Endpoint Security
- Others
- Deployment Outlook (Revenue, USD Billion; 2018–2028)
- Cloud
- On-Premises
- Organization Size Outlook (Revenue, USD Billion; 2018–2028)
- Small and Medium Enterprises
- Large Enterprises
- End-use Outlook (Revenue, USD Billion; 2018–2028)
- Government and Defense
- Healthcare
- BFSI
- Energy and Utilities
- Manufacturing
- IT and Telecom
- Retail
- Others
Regions Covered in This Report:
- North America(U.S., Mexico, and Canada)
- Asia Pacific(China, Japan, India, and Rest of Asia Pacific)
- Europe(U.K., Germany, France, and Rest of Europe)
- Latin America(Brazil and Rest of Latin America)
- Middle East & Africa(GCC Countries and Rest of Middle East & Africa)
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Target Audience of the Global Cyber Security Market report:
- Global Cyber Security providers, distributors, traders, and suppliers
- End-use industries
- Research organizations, consulting companies, and various alliances interested in this particular business sphere.
- Government bodies, independent regulatory authorities, and policymakers.
Table Of Content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2028
Chapter 3. Key Insights
Chapter 4. Cyber Security Market Segmentation & Impact Analysis
4.1. Cyber Security Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Rapidly increasing cybersecurity incidents and regulations requiring its reporting
4.2.2.2. Growing M2M/IoT connections demanding strengthened cybersecurity in enterprises
4.2.3. Market restraints analysis
4.2.3.1. Lack of skilled professionals
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Cyber Security Market By Component Insights & Trends, Revenue (USD Billion)
5.1. Component Dynamics & Market Share, 2024 & 2028
5.1.1. Hardware
5.1.2. Software
READ MORE…!
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