In the recent trend, the market of cyber security in its growth stage. The market presents a robust competitive scenario where the international players which positively control the majority of the stake are constantly trying to augment their prevailing market share in the industry. The several start-ups in the recent past 5 years has positively lead in the import oriented market to rely heavily on the In-House products and services. The market of the cyber security is also very receptive to the newness, innovations and the next generation solutions. Moreover, augmented the usage of mobile phones and the internet are the major growth factors of this market. The network security is the most broadly utilized technology in the market and positively controls a foremost share of the market. Not only has this, Cyber Security Industry Research Report states that the growing awareness among the European Union and Government of dissimilar regions in the EU along with the SME’s and the mid-caps has positively supported the industry to effectively attain the momentum. Mainstream of the corporates in the Europe are SME’s which are going through the digital transformation helped by the funds from the EU. The cyber security market is increasing parallel to the digitization of the corporates in the whole Europe.
Market Research Reports Of Cyber Security states that in the developed regions the banking and finance segment are the foremost users of the cyber security in the sector of end users, as the information stored with the banking and finance segment is greatly sensitive and positively demands to be kept secure with the contemporary solutions. Not only has this, the healthcare, IT and Telecom and the Energy segment have been looking for more developed and advanced solutions in the market owing to the shared network systems. Furthermore, as the IoT pursues to increase across the developed and undeveloped regions, the respective government has also begun to proficiently aim on cyber security.
Nonetheless, in the many regions such as Vietnam, the Firewall & Unified Threat Management (UTM) apprehended the majority of the market share in the terms of revenue during the recent past. The UTM is the most frequent security solutions and involves Antivirus, Firewall, Email Security, Intrusion Detection system, Web Content security and many more. The left out share was positively gained by the Antivirus, Intrusion detection system, Identity and access management and several other numerous solutions during the recent past years.
The cyber security market in the respective regions was effectively monitored to be moderately fragmented in the nature with the existence of both the international as well as domestic players in the services and the solutions sector. Few of the foremost corporates were effectively observed to lead in terms of the market share.
Not only has this, over the analyzed duration, the market of cyber security is anticipated to increase in the terms of revenue because of the potential increase in the cyber crimes in the region. Apart from the reliable growth in the market of corporate, the security services and Solutions sales in the developed regions was monitored to be effectively fostered by the growth in the digital advancement of SMEs and few other aspects. Therefore, during the reviewed duration, the market of cyber security will increase more significantly over the coming decades.
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Ankur Gupta, Head Marketing & Communications