The Global Cyber Security Market is expected to reach USD 379.74 billion by 2027, according to research released by Maximize Market Research titled “Global Cyber Security Market by Organization Type, Deployment Mode, Component, Security Type, Industry, and Geography: Industry Analysis and Forecast.”
Significant areas of the market are examined in-depth, including market potential, import/export statistics, market dynamics, top manufacturers, growth rate, and important regions. In the Cyber Security Market research study, the market is split by manufacturers, geographies, organization type, deployment model, component, security type, and industry. The market study on Cyber Security comprises enabling technologies, presents market conditions, market assumptions, and restraining factors, and provides a comprehensive view of the market.
Global Cyber Security Market Dynamics:
A new approach to thinking about security architectures is the cyber security mesh. It enables dispersed businesses to supply and enhance security where it is most needed. It’s a decentralized concept that aims to protect the identities of users or computers, and it’s now one of the most popular tactics. The purpose is to limit access to an organization’s network to authorized personnel, whether on-premises or in the cloud (or systems).
Young startups’ cyber security expenditures are insufficient to implement Next-Generation Firewalls (NGFWs) and Advanced Threat Protection (ATP) technologies. Due to a lack of investment and resources, small firms in developing markets are projected to have challenges in adopting cyber security solutions. These firms lack the requisite IT security infrastructure due to their limited financial resources, resulting in delayed adoption of new technologies and corporate security solutions. Budget funds for a number of operational challenges and business continuity plans are charged with small firms.
Global Cyber Security Market Insights:
The market is divided into two segments based on deployment mode: cloud and on-premises. Among these, the cloud segment is expected to increase at a CAGR of 9.7% percent during the forecast period. Depending on the needs of the organization, cyber security solutions can be installed on-premises or in the cloud. When organizations adopt on-premises, they have more control over all Cyber security solutions, such as next-generation firewalls and next-generation intrusion prevention systems. Because cloud-based solutions enable speed, scalability, and better IT security, enterprises benefit from the cloud deployment style of Cyber security solutions. As more applications are put in the cloud, cloud-based cyber security solutions are becoming increasingly popular among SMEs and large corporations.
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COVID-19 Impact Analysis on Global Cyber Security Market:
Countries throughout the world have taken precautionary precautions in response to the current COVID-19 epidemic. While schools are closed and communities are being advised to stay at home, many firms are figuring out how to allow their staff to work from home. In the last four months, the number of new domain registrations on various video communication sites, including Zoom, has skyrocketed. According to Checkpoint Security, over 1700 new domains have been registered since January 2020, with 25% of them being registered in the first week of March 2020.
Global Cyber Security Market Regional Insights:
During the forecast period of 2021-2027, North America will dominate the global cyber security market. In the North American area, several major market businesses operate, delivering cutting-edge solutions to all of the region’s industrial verticals. Strategic investments, collaborations, and big R&D initiatives, in addition to geographic presence, are all contributing to the large-scale adoption of Cyber security solutions. Major heavyweights including IBM, Oracle, Fortinet, Microsoft, and Trend Micro, as well as numerous start-ups in the region, are delivering enhanced cyber security software solutions and services to fulfil the demands of clients. As a consequence of these factors, the market in North America is expected to grow.
Global Cyber Security Market Segmentation:
By Organization Type
Large Enterprise
SMEs
By Deployment Mode
Cloud
On-premises
By Component
Solution
Services
Professional
Managed
By Security Type
Application Security
Wireless Security
Endpoint Security
Network Security
Cloud Security
Others
By Industry
Banking, Financial Services, and Insurance
Government
Aerospace & Defense
IT and Telecom
Manufacturing
Healthcare
Energy & Utilities
Retail
Others
By Geography
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
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Global Cyber Security Market Key Players:
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.
About Maximize Market Research:
Maximize Market Research, a global industry study business with a committed team of professionals and data, conducted extensive research on the Cyber Security market. Syndicated and custom B2B and B2C business and market research on 12,000 high-growth emerging technologies, opportunities, and threats from Maximize Market Research can benefit companies in the chemical, healthcare, pharmaceuticals, electronics, and communications, internet of things, food and beverage, aerospace and defense, and other manufacturing sectors. Maximize Market Research is well-positioned to assess and forecast market size while also taking into account the competitive landscape of the sectors.
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