Global Cybersecurity Market is valued at USD 176.50 Billion in 2020 and expected to reach USD 403.01 Billion by 2027 with a 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 the growing adoption of IoT and BYOD trends among organizations are some of the major factors driving the Global Cybersecurity Industry Growth.
The practice of protecting networks, systems, and programs from digital attacks is nothing but cybersecurity. The cyber-attacks are usually aimed at changing, accessing or interrupting normal business processes or destroying sensitive information thus, cybersecurity is necessary. The world is depending on technology more than ever before so, digital data creation has surged as a result. As 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 components, 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.
|Historical data||2015 - 2020|
|Forecast Period||2022 - 2028|
|Market Size in 2020:||USD 176.50 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||12.5%|
|Market Size Expected in 2027:||USD 403.01 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||IBM Corporation, Trend Micro, Inc., Fortinet, Inc., F-Secure, Trustwave Holdings, Inc., Qualys, Inc., Proofpoint, Inc., FireEye, Inc., Sophos Ltd., Rapid7, Inc., and others|
|Segments Covered||By Solution, By Component, By Security Type, By Service, By Deployment Mode, By Organization Size, By Industry Vertical|
|Regional 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 the Middle East and Africa|
By Security Type:
By Deployment Mode:
By Organization Size:
By Industry Vertical:
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.
The prominent players included in the report of the global cyber security Industry are
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.
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.
As the Cyber security are against online threats undertake greater significance in today’s digital changing landscape and it has become vital amid for 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 organizations with about 73% of organizations indicating it as a menace, followed by spear phishing about 49%, about 43% of organizations 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 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 the 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.
Middle East and Africa