Cyber Security Market
Cyber Security Market Size, Share & Trends Analysis Report by Component (Hardware, Software, Services), by Software (APT, Threat Intelligence Platform, SIEM, Security and Vulnerability Management), by Security Type (Network Security, Endpoint Security, Application Security, Cloud Security), by Deployment Type (Cloud, On- Premises), by Organization Size (Large Enterprise, SMEs), by Verticals (Aerospace and Defense, Government, BFSI, IT), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)
|Cyber Security Market Forecast Year:||2022 - 2028|
|Cyber Security Market Historical Year:||2016 - 2021|
|Cyber Security Market 2021:||USD 217.5 Billion|
|Cyber Security Projected Market 2028:||USD 374.9 Billion|
|Cyber Security Market CAGR:||9.5%|
|Fastest Growing Region:||Asia Pacific|
|Largest Region:||North America|
The Global Cyber Security Market is valued at USD 217.5 Billion in the year 2021 and is projected to reach a value of USD 374.9 Billion by the year 2028. The Global Market is anticipated to grow exhibiting at a Compound Annual Growth Rate (CAGR) of 9.5% over the forecast period.
Cyber Security refers to the protection of internet-connected devices from various threats in cyberspace. It entails safeguarding software, data, and hardware while also assisting in the prevention of fraudsters gaining access to devices or networks. Businesses require cyber security to safeguard their data, cash, and intellectual property. Individuals require it for similar reasons, except that intellectual property is less of a concern and the risk of losing vital information, such as family photos, is greater. When it comes to public services or governmental entities, cyber security ensures that the public can continue to rely on them.
The rise in malware and phishing threats among enterprises, as well as the increased adoption of loT and the BYOD trend, are driving the growth of the cyber security market. Furthermore, the increased demand for cloud-based cyber security solutions has a positive impact on market growth. However, budget constraints among organizations, as well as the complexities of device security, are impeding market growth on the contrary, throughout the projection period, the growing usage of mobile device applications and platforms, the requirement for strong authentication techniques, and the transition of the traditional antivirus software sector are projected to give attractive market expansion prospects.
Market Size Provided for Years
Region & Counties Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
The Cyber Security Market is segmented on the basis of Component, Software, Security type, Deployment type, Organization size and Verticals. On the basis of Component, the market is segmented into Hardware, Software and Services. On the basis of Software, the market is segmented into APT, Threat Intelligence Platform, SIEM, Security and Vulnerability Management, Network Access Control, Antivirus/Antimalware, Firewall, Secure Web Gateway, SOAR, IAM, Encryption, Disaster Recovery, IDS/IPS, Risk and Compliance Management and Others. On the basis of Security type, the market is segmented into Network security, Endpoint security, Application security, Cloud security and Others. On the basis of Deployment type, the market is segmented into Cloud and On-Premises On the basis of Organization site the market is segmented into Large Enterprise and SMEs. On the basis of Verticals, the market is segmented into Aerospace and Defense, Government, BFSI, IT, Healthcare, Retail, Manufacturing, Energy and Utilities, Telecommunications, Media and Entertainment and Others.
Based on Organization Site:
On the basis of Organization site, the market is segmented into Large Enterprise and SMEs. Small and medium-sized enterprises (SMEs) are expected to grow at the fastest rate. A surge in demand for end-point security solutions across a number of e-commerce firms, including those in the retail and finance sectors, has prompted this expansion. Due to the increased demand for application security services, the large enterprise is expected to grow significantly.
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Based on verticals:
On the basis of Verticals, the market is segmented into Aerospace and Defense, Government, BFSI, IT, Healthcare, Retail, Manufacturing, Energy and Utilities, Telecommunications, Media and Entertainment and Others. Among all industries, BFSI is expected to grow at a significant Compound Annual Growth Rate (CAGR) during the forecast period. A growth in demand for comprehensive security and digital privacy technologies across financial, insurance, and banking sectors is driving his expansion. Cloud application security solutions assist banks, insurance companies, and financial institutions in safeguarding highly confidential data while incorporating real-time intelligence against persistent cyber-attacks.
North America is expected to acquire the largest market share during the year 2021
North America is likely to be the fastest-growing regional market over the forecast period with a market share of 39.10%. During the forecast period, North America is expected to have the largest Cyber Security Market share. The region's demand for cloud application security solutions is being driven by an increase in the number of high-level security breaches. The growing number of online e-commerce platforms boosts market growth in countries like the United States and Canada. To provide enhanced security measures to businesses, the government implements advanced network security protocols. End-user investment is increasing, and enterprise security solutions are in high demand, accelerating the adoption of security solutions.
Key players operating in the Global Cyber Security Market include 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), Oracle (US), Fortinet (US), Palo Alto Networks (US), Accenture (Ireland), McAfee (US), RSA Security (US), Forcepoint (US), Sophos PLC (UK), Imperva (US), Proofpoint (US), Juniper Network (US), Splunk (US), SonicWall (US), CyberArk (US), F-secure (Finland), Qualys (US), F5 (US), AlgoSec (US), SentinelOne (US), DataVisor (US), RevBits (US), Wi-Jungle (India), BluVector (US), Aristi Labs (India), Securden (US). and others
Segmentation of the Global Cyber Security Market:
Frequently Asked Questions
the global demand for Cyber Security
in terms of revenue?
The global Cyber Security valued at USD 217.5 Billion in 2020 and is expected to reach USD 374.9 Billion in 2028 growing at a CAGR of 9.5%
are the prominent players
in the market?
The prominent players in the market are 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), Oracle (US), Fortinet (US), Palo Alto Networks (US), Accenture (Ireland), McAfee (US), RSA Security (US), Forcepoint (US), Sophos PLC (UK), Imperva (US), Proofpoint (US), Juniper Network (US), Splunk (US), SonicWall (US), CyberArk (US), F-secure (Finland), Qualys (US), F5 (US), AlgoSec (US), SentinelOne (US), DataVisor (US), RevBits (US), Wi-Jungle (India), BluVector (US), Aristi Labs (India), Securden (US)..
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 9.5% between 2021 and 2028.
the driving factors
fueling the growth of the market.
The driving factors of the Cyber Security include
- Rapidly Increasing Cybersecurity Incidents and Regulations Requiring its Reporting
region accounted for the
largest share in the market?
North America was the leading regional segment of the Cyber Security in 2020.