The global cyber security market size is expected to reach USD 311.73 Billion at a steady CAGR of 7.6% in 2028, according to latest analysis by Emergen Research. Steady cyber security market revenue growth is due to increase in the number of data breaches and increasing deployment to the cloud, driven by the digitization shift across various industries, sectors, and verticals.The report offers a detailed overview of the market with precise information about product type, application, market size, revenue share, key drivers, restraints, opportunities, and challenges
Adoption of cloud-based services in various industries has increased thus driving growth of the cyber security market to a significant extent. Enterprises are increasingly adopting cloud-based services as this is less expensive and does not require an IT infrastructure setup. Cloud deployment leads to vulnerabilities in software and makes information easily accessible by cyber criminals. Companies are focused on improving their cyber security software to protect their data from cyber-attacks.
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The study is a professional probe into the revenue generated and capacity estimates for the Cyber Security market for the forecast period 2020 – 2027 empower the business owners to maintain a competitive edge over their rivals. The research further examines and provides data on the market by type, application and geography interspersed with illustrations and other graphical representations. The market analysis not only determines the attractiveness of the industry but also the evolving challenges and opportunities and their association with the weaknesses and strengths of prominent market leaders. Other factors taken into consideration when studying the industry include profitability, manufacturing capability, distribution channels and industry cost structure and major success factors.
A novel research report on global Cyber Security has been recently published by Emergen Research to offer a comprehensive overview of the industry with latest and emerging market trends between 2021 and 2028.The report also assesses market trends that can have favorable impact on the market in the coming years along with detailed examination of various market segments on global and regional levels.
Retailers, medical service providers, and public entities witness the highest number of breaches and malware is mostly responsible for most of these incidents. Some sectors are more attractive for cyber criminals and they collect medical and financial data, but all sectors are vulnerable and can be targeted for corporate espionage, customer data, and customer attacks. Attacks on cyber security can result in identity theft, extortion attempts, and loss of important and sensitive data, which is driving demand for more effective cyber security solutions.
Key players in the market include IBM Corporation, Cisco Systems, Juniper Networks, CyberArk, Forcepoint, McAfee, Microsoft, F5 Networks, Oracle, and Fortinet.
COVID-19 Impact Analysis:
This report is the latest document encompassing the massive changes that took place in the Cyber Security market following the emergence of the COVID-19 pandemic. The pandemic has drastically affected the global economic landscape, thereby disrupting the operating mechanism of the Cyber Security market. The severe global crisis has prompted organizations to efficiently respond to the rapidly shifting business environment.
In March 2021, NFP introduced new cybersecurity product to suit the personalized coverage need of customers. DigitalShield solution was made possible due to the company’s partnership with CyberScout, which is a cyber-specialist claims management provider. DigitalShield offers protection for a variety of cyber-crimes, such as ransomware, cyber-attacks, identity theft, cyber bullying, and cyber stalking, among others.
Encryption is a cyber-security measure which protects personal and private data through the use of unique codes that scramble the data and make it almost impossible for intruders to read. Even if there is a data breach, encryption ensures institution’s private data is safe even when cyber criminals get past the firewall.
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Current and upcoming trends impact analysis
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Emergen Research has segmented the global cyber security market on the basis of component, solution, services, security type, deployment, organization size, end-use, and region:
Component Outlook (Revenue, USD Billion; 2018–2028)
Hardware
Software
Solution Outlook (Revenue, USD Billion; 2018–2028)
Threat Intelligence
Identity and Access Management
Security and Vulnerability Management
Risk and Compliance Management
Others (Others include threat intelligence platforms, SIEM, and incident forensics)
Encryption
Data Loss Prevention
Network DLP
Storage/ Data Center DLP
Endpoint DLP
Unified Threat Management
Firewall
Antivirus/ Antimalware
Intrusion Detection Systems/ Intrusion Prevention Systems
Network-based
Host-based
Wireless
Disaster Recovery
Distributed Denial of Service
Web Filtering
Others (Other solutions include application whitelisting and patch management)
Services Outlook (Revenue, USD Billion; 2018–2028)
Professional Services
Design and Integration
Risk and Threat Assessment
Consulting
Training and Education
Support and Maintenance
Managed Security Services
Security Type Outlook (Revenue, USD Billion; 2018–2028)
Application Security
Network Security
Cloud Security
Endpoint Security
Others
Deployment Outlook (Revenue, USD Billion; 2018–2028)
Cloud
On-Premises
Organization Size Outlook (Revenue, USD Billion; 2018–2028)
Small and Medium Enterprises
Large Enterprises
End-use Outlook (Revenue, USD Billion; 2018–2028)
Government and Defense
Healthcare
BFSI
Energy and Utilities
Manufacturing
IT and Telecom
Retail
Others
Key points discussed in the report for Global Cyber Security Market:
Chapter 1: Introduction, market driving force product, Objectives of the Study, and Research Scope of the Cyber Security market
Chapter 2: Exclusive Summary –vital information of the Cyber Security Market.
Chapter 3: Market Dynamics- Drivers, Trends, and Challenges of the Cyber Security Market
Chapter 4: Cyber Security Market Factor Analysis Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Market segmentation by Type, End-User and Region 2016-2018
Chapter 6: Analysis of the market by segments, by countries and by manufacturers with revenue share and sales by key countries in these various regions.
Chapter 7 & 8: Appendix, Methodology and Data Source…Continued
Finally, Cyber Security Market is a valuable source of guidance for individuals and companies.
Regional Overview:
The global Cyber Security market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global Cyber Security market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.
Key questions addressed in the report:
What are the key factors driving the global Cyber Security market?
Who are the key manufacturers in this market space?
Who are the distributors, traders and dealers of this market?
What are the market opportunities and risks affecting the performance of the vendors in the global Cyber Security market?
What are the sales and revenue estimations for the top manufacturers in this market over the projected timeline?
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