Global Cyber Security Market
Posted: Jul 20, 2019
Global Cyber Security Market was around US$ 92.7 Bn in 2017 and is expected to grow at a CAGR of around 10.81% in the forecast period of 2018-2026. The cyber security market is by segmented component, organization size, deployment mode, security type, industry, and region. In terms of component, the cyber security market is categorized into solution, services, professional, and managed. Based on organization size, the cyber security market is classified into large enterprise, and SMEs. On the basis of deployment mode, the cyber security market is segmented into cloud, and on-premises. In terms of security type, the cyber security market is segregated into application security, wireless security, endpoint security, network security, cloud security, and others. Based on industry, the cyber security market is categorized into banking, financial services, and insurance, government, aerospace & defense, IT and telecom, manufacturing, healthcare, energy & utilities, retail, and others. Region wise into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Improved security along with enhanced defense & speed are some of the major drivers for the cyber security market. In addition to this, it is the protection of confidential company data as well as providing protection against virus, malware. That forms some other key factors to have driven the cyber security market. Protecting individual private information along with networks and resources are some other key factors driving the cyber security market. In addition, the cyber security also help to fight against computer hackers and identity theft as well. A strong cyber security layer in a business environment is aimed to detect, prevent, and react to the network attack or cyber-attack at the time of intrusion. A scalable and flexible strategy while taking advantage of the requisite solution prepares an organization to combat unforeseen challenges to their security infrastructure. In terms of deployment mode, the demand for cloud-based cyber security solutions is increasing due to cost-effectiveness and time-efficient features of cloud. The growth of cyber security is specifically high in enterprises, where the low-cost solutions are much required. Based on industry, the healthcare industry vertical is anticipated to grow at the highest CAGR from 2017 to 2026, as the medical data and digital medical devices used in cyber security industry vertical are prone to advanced threats. The government is anticipated to have largest market size in 2017, due to the increased adoption of cyber security solutions in this industry vertical. The Banking, Financial Services, and Insurance, Information Technology, and telecom industry verticals are also estimated to gain traction during the forecast period. North America is estimated to hold the largest market size in 2018. The North America is estimated to become the largest region for cybersecurity market in 2017 followed by Europe. This is mainly because in the developed economies of the US and Canada, there is a high focus on innovations obtained from Research and Development (R&D), and technology. The key players of cyber security market include IBM Corporation (US), McAfee LLC (US), Symantec Corporation (US), Hewlett Packard Enterprise (US), and Trend Micro, Inc. (Japan).Scope of Global Cyber Security Market:-
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Global Cyber security Market by Component:
- Solution • Services • Professional • Managed
- Large Enterprise • SMEs
- Cloud • On-premises
- Application Security • Wireless Security • Endpoint Security • Network Security • Cloud Security • Others
- Banking, Financial Services, and Insurance • Government • Aerospace & Defense • IT and Telecom • Manufacturing • Healthcare • Energy & Utilities • Retail • Others
- North America • Europe • Asia-Pacific • Middle East & Africa • Latin America
- Check Point Software Technologies Ltd. • Cisco Systems, Inc. • CyberArk Software Ltd. • Qualys, Inc. • Palo Alto Networks, Inc. • LogRhythm, Inc. • IBM Corporation • Hewlett Packard Enterprise • Kaspersky Lab • Symantec Corporation • Optiv Security Inc. • Webroot, Inc. • Fortinet, Inc. • Imperva, Inc. • McAfee LLC • Trend Micro, Inc. • F-Secure • Trustwave Holdings, Inc. • FireEye, Inc. • Sophos Ltd.
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