To know the impact of COVID-19 On Cybersecurity Market Size By Solution (Identity and Access Management (IAM), Infrastructure security, Governance, risk, & compliance, Unified vulnerability management service offering, Data security and Privacy service offering, Others) Forecast 2021-2027
Market Size Forecast Scenarios (Optimistic, Baseline and Pessimistic) 2021-2027
Global Cybersecurity Market is valued at USD 176.50 Billion in 2020 and expected to reach USD 403.01 Billion by 2027 with the CAGR of 12.5% over the forecast period.
Global Cybersecurity Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Rising number of cases of malware and phishing threats and growing adoption of IoT and BYOD trend among organizations are some of the major factors driving the Global Cybersecurity Industry Growth.
Scope of Global Cybersecurity Industry Report-
The practice of protecting networks, systems and programs from digital attacks is nothing but the cybersecurity. The cyber-attacks are usually aimed at changing, accessing or interrupting normal business processes or destroying sensitive information thus, the cybersecurity is necessary. The world is depending on technology more than ever before so, digital data creation has surged as a result. As the governments and businesses store a great deal of their data on computers and transmit it across networks to other computers thus, there is a threat of cyber-attacks. Common types of cybersecurity are such as data loss prevention (DLP), network security, identity and access management (IAM), intrusion detection systems (IDS) or intrusion prevention systems (IPS) and antivirus/anti-malware. cybersecurity is important because it is used by military, government, financial, corporate and medical organizations that collect, store and process unprecedented amounts of data on computers & other devices. Cyber security industry is expected to show a significant growth is the coming few years.
Global cybersecurity Industry report is segmented on the basis of solution, component, security type, service, organization size, industry vertical and region & country level. On the basis of solution, the market is segmented into identity and access management (IAM), infrastructure security, governance, risk, & compliance, unified vulnerability management service offering, data security and privacy service offering and others. On the basis of component, the market is segmented into solutions and services. On the basis of security type, the market is segmented into network security, endpoint security, application security, cloud security and others. On the basis of service, the market is segmented into professional services and managed services. On the basis of deployment mode the market is segmented into on-premises and cloud. On the basis of organization size, the market is segmented into small and medium-sized enterprises (SMEs) and large enterprises. On the basis of industry vertical, the cyber security market is segmented into aerospace and defense, government, banking, financial services and insurance (BFSI), it and telecom, healthcare, retail, manufacturing, energy and utilities and others.
The regions covered in this Global Cybersecurity Industry report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Cybersecurity is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Cybersecurity Companies–
The prominent players included in the report of global cyber security Industry are IBM Corporation, Trend Micro, Inc., Fortinet, Inc., F-Secure, Trustwave Holdings, Inc., Qualys, Inc., Proofpoint, Inc., FireEye, Inc., Sophos Ltd., Rapid7, Inc. and others.
Crossword Cybersecurity Launched Rizikon Pro to Address Demand for Supplier Assurance in SME Organizations.
On July 17th, 2020; Crossword Cybersecurity Plc, the technology commercialization company focused solely on cybersecurity and risk, announces the launch of Rizikon Assurance Professional Edition (“Rizikon Pro”), a new edition of its supplier assurance and third party risk management platform aimed primarily at small and medium sized organizations.
NORDLOCKER, Creators of Nordvpn Announce Launch of New Cybersecurity Product.
On November 14th, 2019; NordVPN announced the launch of its latest cybersecurity product, NordLocker. The new digital tool secures all types of files stored on your computer or in the cloud with end-to-end encryption. NordLocker is perfect for both personal use and handling work-related data. Running on both Windows and macOS, NordLocker supports documents of any type and size.
Rapidly Increasing Cases of Cyber-attacks is one of the Major Factors driving the Global cybersecurity Industry Growth.
As the Cyber security are against online threats undertake greater significance in today’s digital changing landscape and it has become vital amid for the organizations due to the rapidly cybercrimes, increasing frauds, threats, risk and vulnerabilities. For instance; According to KPMG International, Malware Constitutes the biggest share of cyber-attacks faced by organisations with about 73% of organisations indicating it as a menace, followed by spear phishing about 49%, about 43% of organisations indicated that they have experienced ransomware attacks in the fast year and in contrast to organisation’s views 73% of Law Enforcement Authorities (LEAs) indicated that only ATM card theft was the most commonly reported cybercrime to the Cybercrime Investigation Cells, followed by phishing attacks i.e. about 47% and data theft i.e. about 40%. Hence, rapidly increasing demand for cybersecurity is one of the major factors driving the growth of cybersecurity market size.
As the emerging business models & applications are coupled with the reducing device costs which have been instrumental in driving the adoption of IoT and consequently the number of connected devices such as connected machines, cars, wearables, meters and consumer electronics. Hence, adoption of M2M/IoT connections demands strengthened for cybersecurity in enterprises also have a great impact on the growth of cybersecurity market size. Furthermore, growing need for strong authentication techniques is expected to boost the cybersecurity industry growth. However, constant need to conform to cyber security industry regulations, standards and complexities of device security are some of the major factors which may restrain the cyber security industry growth.
North America is Expected to Dominate the Global Cybersecurity Market.
North America region is expected to dominate the global cyber security market due to the presence of prominent security vendors that have global and regional headquarters in U.S. In addition, the increased spending on security solutions & services by large enterprises and SMEs are the other factors driving the cyber security market growth in this region. Furthermore, increasing stringency in standards & policies for maintaining data privacy and security also contributes to the cybersecurity industry trends in this region. For instance, According to Council of Economic Advisers, malicious cyber activity cost the U.S. economy is between about $57 billion and about $109 billion in 2016.
The Asia Pacific is expected to emerge as a fastest-growing regional market over the forecast period due to the increasing efforts toward securing networks; endpoints and cloud infrastructure in this region. In addition, rapid adoption of smartphones & the usage of the internet are impacting the digital services across the region. According to Internet Society – APAC Bureau, Smartphones continue to be the mobile device of choice for Internet users in Asia-Pacific, across all age groups in the survey, smartphone ownership does not go below 94% in 45-59 year olds, peaking at about 96% among 15-24 year olds.
Global Cybersecurity Market Segmentation:-
By Solution: Identity and Access Management (IAM), Infrastructure security, Governance, risk, & compliance, Unified vulnerability management service offering, Data security and Privacy service offering, Others
By Component: Solutions, Services
By Security Type: Network Security, Endpoint Security, Application Security, Cloud Security, Others
By Service: Professional Services, Managed Services
By Deployment Mode On-premises, Cloud
By Organization Size: Small and Medium-sized Enterprises (SMEs), Large Enterprises
By Industry Vertical: Aerospace and Defense, Government, Banking, Financial Services, and Insurance (BFSI), IT and Telecom, Healthcare, Retail, Manufacturing, Energy and Utilities, Others
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
Key Benefits for Global Cybersecurity Market Report–
- Global market report covers in depth historical and forecast analysis.
- Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global market report helps to identify opportunities in market place.
- Global market report covers extensive analysis of emerging trends and competitive landscape.
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