Covina, United States: Cyber Security Market, By Component (Solution and Services), By Deployment Model (Cloud and On-Premise), By Enterprise Size (Large Enterprises and SMEs), By Solution (Identity & Access Management, Infrastructure Security, Governance Risk & Compliance, Unified Vulnerability Management Service Offering and Others), By Industry Vertical (Telecom, Automotive, BFSI, Public Sector, Retail, Healthcare, IT and Others) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2030
Cyber Security Market Outlook
- Market Value 2020: US$ 200.26 Bn
- Market Value Estimation 2030: US$ 471.49 Bn
- CAGR: 9.0%
The growth of IoT usage and the BYOD trend, as well as the increase in malware and phishing threats among businesses, are driving the market for cyber security ahead. Additionally, the rising demand for cloud-based cyber security solutions benefits market expansion. The complexity of device security and organisational budget restrictions are limiting market expansion, nevertheless. Contrarily, it is anticipated that during the forecast period, lucrative opportunities for market expansion will arise as a result of the rising adoption of mobile device applications and platforms, the demand for reliable authentication techniques, and the transformation of the traditional antivirus software industry.
Top News relating to Industry, Innovation:
- In March 2022, Mandiant Inc. announced the launch of mWISE, the Mandiant Worldwide Information Security Exchange. mWISE is a dynamic, vendor-neutral cyber security event series that brings practitioners, executives, and visionaries together from around the world to discuss best practises, uncover new and emerging trends, and translate knowledge into collective action to reduce cyber threats.
- In February 2022 Check Point Software Technologies Ltd acquired Spectral, a key innovator in developer-first security tools. This acquisition will allow the company to expand its cloud solutions, Cloud Guard, by utilising developer-first security platforms and providing the most comprehensive range of cloud application security use cases.
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Key Segmentation of the Cyber Security market:
Global Cyber Security Market size accounted for US$ 200.26 billion in 2020 and is estimated to be US$ 471.49 billion by 2030 and is anticipated to register a CAGR of 9.0%. The global Cyber Security Market is segmented based on component, deployment model, enterprise size, industry vertical, solution and region.
- Based on Component, Cyber Security Market is segmented into Solution and Service.
- Based on Deployment Model, Cyber Security Market is segmented into Cloud and On-Premise.
- Based on Enterprise Size, Cyber Security Market is segmented into Large Enterprises and SMEs.
- Based on Industry Vertical, Cyber Security Market is segmented into Telecom, Automotive, BFSI, Public Sector, Retail, Healthcare, IT and Others.
- Based on Solution, Cyber Security Market is segmented into Identity & Access Management, Infrastructure Security, Governance Risk & Compliance, Unified Vulnerability Management Service Offering and Others.
- By Region, the Cyber Security Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The Cyber Security Market Report mentions the following promising regions:
- North America – U.S., Canada
- Europe – UK, Germany, Spain, France, Italy, Russia, Rest of Europe
- Asia Pacific – Japan, India, China, South Korea, Australia, Rest of Asia-Pacific
- Latin America – Brazil, Mexico, Argentina, Rest of Latin America
- Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
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Top-tier significant players:
The prominent player operating in the global Cyber Security market includes IBM (US), Cisco (US), Check Point (Israel), FireEye (US), Trend Micro (Japan), NortonLifeLock (US), Rapid7 (US), Micro Focus (UK), Microsoft (US), Amazon Web Services (US).
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- Assessments of market share for the regional and national segments
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- In addition to a comprehensive analysis of market share, the report contains data on significant drivers, restraints, and opportunities.
- The market power of consumers and suppliers is demonstrated via Porter’s five forces study.
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