Source:MarketUs
March23,202306:46ET
CyberSecurityMarketSizeIsValuedAtUS$534Bnby2032:DataAnalysisby ExpertsatMarketUs
RisingNeedfor Cloud-basedCybersecurity Solutions andTechnologicalProgress toPropeltheCybersecurity Market BeyondUSD 534Billionby 2032
New York,March23,2023(GLOBE NEWSWIRE) -- AccordingtoMarketus,theGlobalCyber Security Marketis anticipatedtosurpass aroundUSD 534billionby 2032from USD 193billionin2022anditis poisedtoreachaCAGR of11%from 2023to2032 Emergingonlinee-commerceplatforms andtheemergenceofcoretechnologies likethe IoT(InternetofThings),cloudsecurity,AI,andothers aretheprimary drivers ofCyber security Themajor market players arefocusedonthedevelopmentofinternetsecurity solutions thatuses AI
Togetadditionalhighlights onmajor revenue-generatingsegments,RequestaCyber Security Marketsamplereport athttps://marketus/report/cyber-security-market/request-sample/
Key Takeaway:
By component,theservices segmentgeneratedthehighestrevenueintheglobalcyber security marketsharein 2022.
By DeploymentMode,theCloud-Basedsegmentis dominatingthemarket,anditis growingatasignificantrate over theforecastperiod2023to2032.
In2022,NorthAmericadominatedthemarketwiththehighestrevenueshareof36% APAC regionheldthesecondpositioninrevenuesharein2022.
APAC willgrow atasignificantratefrom 2023-2032
Withthecumulativeinvestmentfrom France,Germany,Spain,India,Italy,SouthKorea,Qatar,Canada,etc ,and increasedadoptionofenterprisesecurity solutions inbanking,manufacturing,andinsurance(BFSI), thedemandfor cybersecurity solutions is anticipatedtoincrease Cybersecurity companies areworkingonAIandML-basedsecurity solutions thatwillhelpbusinesses automateITsecurity ITcompanies canreducethetimeconsumedandtheeffort requiredtotrack malicious activities,tactics,andstrategies throughautomatedthreatdetection,whichhas madeit possibleby suchsecurity solutions
Factors affectingthegrowthofCyber Security industry?
Thereareseveralfactors thatcanaffectthegrowthoftheCyber Security industry.Someofthesefactors include:
AdvancementinTechnologies:Theadvancements intechnologies suchas cloud,artificialintelligence,and blockchainandtheriseinthenumber ofe-commerceplatforms,arethemainfactors for theadoptionofcyber security solutions by companies
RiseinCloudComputingConcept:Theriseintheconceptofcloudcomputinggives access tocustomers and makes datastoragesimple Whichresults intheriseintheadoptionofCloud-basedCybersecurity Solutions
Increaseinpenetrationofconnecteddevices & systems:Increaseintheneedfor cybersecurity measures to protectwhichis ledby increasingpenetrationofdevices & systems whichareconnected,risingvulnerabilities in systems & networks aredrivingthedemandfor cybersecurity as cyber-attacks becomemoresevereand frequent
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TopTrends inCyber Security Market
Major players inthis cyber security marketareincludingfundamentaltechnologies liketheinternetofthings (IoT), machinelearning,thecloud,andbigdata,intheir business security departments.Theplayers wouldacquireabetter understandingofuncertaintrials,activities,andthreats withthis adoption AnIoTandmachinelearningwhichis based onasignature-less security system is beingfurther implemented.Bigdataandcloudcomputingalsohelpbusinesses learnandinvestigatepotentialthreats As theinternetofthings (IoT) marketexpands,IOTsolutions willbecome increasingly popular inavariety ofinformationsecurity applications.As aresult,oneoftherapidly developingmarket trends is theuseofadvancedinternetsecurity technologies
MarketGrowth
Inthepastfew years,many businesses haveimplementedcloud-basedtechnology solutions thatenablecustomers to obtainstoragesystems,software,andother resources viaaninternetnetwork Whichresultedintheriseof cyberattacks andcrimes Thedemandfor cyber security solutions is expectedtogrow duringtheforecastedperiod duetotheincreasinguseofcloudstorageservices by smallandlargecompanies
RegionalAnalysis
NorthAmericadominates thegrowthofthemarket,over thepastyears theearly adoptionofnew technologies has driventhegrowthoftheregionglobally.NorthAmericaholds amarketrevenueshareof36%.Furthermore,thehigh number ofITmarkets andtheir diversifiedbusinesses,andthehighestnumber ofcapitalarethemainkey factor for the growthofthis market.APAC regionis theseconddominatingregionfor theCyber Security Marketgrowthglobally. APAC regionis expectedtoregister thehighestCAGR duringtheforecastedperiod Countries likeChina,India,Japan, SouthKorea,andothers haveincreasedtheir spendingfrom thegovernmentanddefensesectors tosavethemselves from cyber warfare,whichis expectedtodrivemarketgrowth
CompetitiveLandscape
Major key players intheoverallmarkethavebeenfocusedonadvancingthecapabilities oftheir networks by adopting advancedtechnologies,suchas advancedanalytics andmachinelearning,intheir organizations A widerangeof internetsecurity solutions whicharebasedonareas relatedtothenetworks,is offeredby Ciscosystems Threat protection,unifiedthreatmanagement,web,access andpolicy,network anddatacenter security,advisory,integration, emailsecurity,andmanagedservices arealltheservices thatareprovidedby Ciscosystems
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ScopeoftheReport
MarketDrivers
Companies inthee-commercesector arefocusingontheadoptionofnetwork security solutions intheir electronic security andITsystems Theaugmentationofinternetsecurity solutions inconnectednetwork infrastructurehas been seenduetotheadvancements intechnologies suchas cloud,artificialintelligence,andblockchainandtheriseinthe number ofe-commerceplatforms For example,inSeptember 2020,theadoptionoftheadvancednetwork security
solutionShadankunwhichwas developedby Cyber Security Cloud,Inc ,was doneby AskulCorp intheir business unittosecuretheir assets from cyber threats
Investmentininternetsecurity solutions is growingday by day;for example,in2020,thegovernmentintheU K financedaroundUSD 2.43billiontoexecutevarious internetandnetwork security projects inresearchanddefense, accordingtotheEuropeanCyber Security Organizationreport
Investmentininternetsecurity solutions is doneby thegovernments ofcountries suchas Germany,India,Israel, France,andBrazil,amongothers,tosecuretheir hugevolumeofinformationandconfidentialdata This investment woulddrivetheoveralladoptionratefor ITsecurity solutions across theglobeandtheindustries thatwillfavor the globalcyber security marketgrowthfor theforecastperiod Thegrowingdemandfor thesetechnologies toeliminate cyber threats is drivingthedemandfor themarketglobally.
MarketRestraints
Theneedfor advancedsolutions is risingatanexponentialrateduetotheincreaseinthenumber ofthreats toonline security Enterprises arenotprotectedenoughfrom theadvancedcloud,network,andend-pointsecurity threats by the outmodednetwork security solutions Key restrainingfactors suchas alack ofprofessionals andexperts inthefieldof advancedsecurity solutions restrainthegrowthofthemarket Smallandmedium enterprises (SMEs) arestrugglingto adoptinternetsecurity services andsolutions duetotheir highcosts
MarketOpportunities
Cloudsolutions arebecomingpopular withbusinesses worldwidebecausethey makedatastoragesimpleandgive access tousers withunlimitedcomputingcapacity viainternet-accessibleremoteservers.Duetoits dependableand adjustablearchitecture,cloudcomputingis apopular concept For example,AmazonWebServices is thelargestcloud computingcompany intheworldaccordingtoindustry share.A subsidiary ofAmazoncalledAmazonWebServices (AWS),currently holds 315%ofthemarketshare,whichis thenfollowedby MicrosoftAzure(20%) andthenGoogle Cloud(7%).Becauseoftheability tomanagealltheapps becausecloud-basedmodels providechallenginganalytics thatruns inthebackground
Thevalidationoflegislationandspecific recommendations for cloudplatform security by governments inavariety of nations fuels thegrowthofthemarket Businesses cancombineadditionalinfrastructuretechnologies,whenusingthe cloudsolution,suchas software-definedperimeters,whichcreateplatforms thatarestableandhighly secure.By movingtocloud-basedplatforms likeInfrastructure-as-a-Service,and,Software-as-a-Servicewhichis alsocalled SaaS,smallandmedium-sizedenterprises (SMEs) areconstantly tryingtomodernizetheir infrastructureand applications
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ReportSegmentationoftheCyber Security Market ComponentInsights
Themarketis dividedintoservices andservices accordingtothecomponentsegment End-pointsecurity,network security,cloudapplicationsecurity,applicationsecurity,securewebgateway,andothers arethesub-segments for the solutionsegment Thesegment's growthis expectedtobeaidedby therisinguseofhardware,access management software,andend-pointsecurity softwareinITandtelecom,financialinstitutions,andother sectors.Duetotherisein thedemandfrom largeandmedium-sizedbusinesses for updating,consulting,andmaintenanceservices,theservice segmentis expectedtogrow atahigher CAGR over theforecastperiod.
DeploymentInsights
Themarketis dividedintocloud-basedandon-premises accordingtothedeploymentmodesegment Thedemandfor applications thatstoreandprotectthedatausingimprovedsecurity measures is thecauseoftheexpansion Thecloud segmentis saidtoregister thehighestCAGR for theforecastedperiod Additionally,themarketparticipants are developingadvancedcloud-basedsecurity solutions intheconjunctionwithother key players Therisingdemandfor managedsecurity services is expectedtodrivetheon-premisesegmentmarket
EnterpriseSizeInsights
Themarketcanbedividedintosmallandmedium enterprises whicharealsocalledSMEs andLargeenterprises basedontheir enterprisesize.Itis expectedthattheSME segments willexpandatthehighestCAGR.Therising demandfor end-pointsecurity solutions inavariety ofe-commercestartups,includingthoseintheretailandfinancial sectors,is thereasonfor theexpansionofthemarketgrowth.Duetotherisingdemandfor applicationsecurity services,itis expectedthatlargeenterprises willexperiencesignificantgrowth
IndustrialVerticalInsights
Themarketis dividedintoITandtelecommunications,BFSI,manufacturing,retail,government,traveland transportation,energy andutilities,healthcare,andothers accordingtotheindustrialvertical Digitalprivacy and security systems arehighindemandacross insurance,banking,andfinancialinstitutions,drivingthegrowthofthe market Amongalltheverticals theBFSIsegmentis expectedtogrow atasignificantratefor theforecastedperiod Withreal-timeintelligenceandcloudapplications banks,security solutions,insurancecompanies,andother financial institutions canprotecthighly sensitivedatafrom cyberattacks
For moreinsights onthehistoricalandForecastCyber Security Marketdatafrom 2016to2032- downloadasample reportathttps://market.us/report/cyber-security-market/#requestSample
MarketSegmentation
By Component
Solutions Services
By DeploymentMode
Cloud-Based On-premises
By EnterpriseSize
LargeEnterprises SMEs
By IndustrialVertical
Telecom
Automotive
BFSI
Retail Healthcare
IT
Energy & Utilities Manufacturing
Others
By Geography
NorthAmerica TheUS
Canada
Mexico
WesternEurope
Germany
France
TheUK
Spain
Italy
Portugal
Ireland
Austria
Switzerland
Benelux
Nordic
RestofWesternEurope
EasternEurope
Russia
Poland
TheCzechRepublic
Greece
RestofEasternEurope
Indonesia
Malaysia
Philippines
Singapore
Thailand
Vietnam
RestofAPAC
LatinAmerica
Brazil
Colombia
Chile
Argentina
CostaRica
RestofLatinAmerica
MiddleEast& Africa
Algeria
Egypt
Israel
Kuwait
Nigeria
SaudiArabia
SouthAfrica
Turkey
UnitedArabEmirates
RestofMEA
Key MarketPlayers
Accentureplc
Broadcom Inc
CapgeminiSE
Cognizant
F5Networks Inc
FireEyeInc
HCLTechnologies Limited
IBM Corporation
Infosys Limited
L&TTechnology Services Limited
PwC InternationalLimitedBroadcom Inc
TataConsultancy Services
TechMahindraLimited
WiproLimited
BishopFox Inc.
Fortinet,Inc
Other Key Players
RecentDevelopmentoftheCyber Security Market
BishopFox Inc raised$75millioninfundinginJuly 2022as thecompany was preparingfor globalexpansionvia channels inthecomingyears.This roundofcapitalwas ledby Carrick CapitalPartners.Cosmos is aplatform, thatthecompany BishopFox uses tosimulatecyberattacks inorder tofindvarious vulnerabilities intheIT systems ofits customers.TheenhancementofBishopFox's fundamentaltechnology platform willreceivethe precedingfunding
Security incidentresponseandtraininginvestments weremadeinFebruary 2022for organizations across APAC A componentofIBM's globalnetwork,thenew Security Operations Center (SOC) assists customers worldwideinrespondingtocyberattacks.AccordingtotheIBM Security X-ForceThreatIntelligenceIndex,which was justreleased,Asiawas themostfrequently targetedregionfor cyberattacks in2021
BrowseMoreRelatedReports:
Healthcarecyber security marketwas worthUSD 152Bnin2022 Itis projectedtogrow ataCAGR of 17.1%andis expectedtoreachUSD 73.7Bnfrom 2023to2032.
Governmentcyber security marketsizeintheUS willgrowuptoUSD839billionataCAGRof1422%during 2021-2025.
Criticalnationalinfrastructurecyber security market Sizeis projectedtoReachMultimillionUSD by 2032,In comparisonto2023,atunexpectedCAGR duringtheForecastPeriod2023-2032.
Cybersecurity ConsultingServices Marketis USD 981Bnin2023andis increasingby USD 5134Bnin2033at aCAGR of18%.
is estimatedtoregister thehighestCAGR of137%
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