CyberSecurity Market Scenario:
The global cybersecurity market is estimated to register a CAGR of 10.5% over the forecast period. Market Research Future (MRFR) recently published their latest report on cybersecurity market which states that it is bound to garner a market revenue valuation of USD 199.98% billion by the end of the forecast period. cybersecurity is a combination of various technologies and processes that are deisgned for shielding networks, devices, as well as data, from a cyber attack or unauthorized access. Cybersecurity is also called as information technology security.
Speedy deployment of web and cloud-based applications is one of the factors that is boosting market growth over the forecast period. Growing need from enterprises for the reduction of risks and stringent compliance and regulatory requirements are also expected to supplement cybersecurity market share growth for cybersecurity over the forecast period.
A climb in the frequency of cyber-attacks on a global scale is one of the most primary factors driving the global cybersecurity market. However, limitations on security budget in small and medium enterprises are bound to hamper market growth over the forecast period. Upscaling demand for cybersecurity solutions and services from the banking financial services and insurance (BFSI), IT and telecommunication, and many other verticals has opened new growth prospects for the vendors functioning in the global cybersecurity market, fostering massive growth.
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Major Key Players:
Some distinguished players in the global cybersecurity market include Intel Corporation (US), Symantec Corporation (US), HP Enterprise (US), IBM Corporation (US), Cisco Systems, Inc. (US), Rapid7, Inc. (US), EMC RSA (US), FireEye, Inc. (US), Trend Micro, Inc. (Japan), Sophos Ltd. (UK), SecureWorks, Inc. (Dell Technologies) (US), Imperva (US), BAE Systems (UK), Carbon Black, Inc. (US), and Akamai Technologies (US).
The global cybersecurity market is segmented by component, organization size, deployment, security type, vertical, and region. Such segmentation has enabled the research experts at Market Research Future (MRFR) to inculcate a detailed analysis of the global cybersecurity market in the report to aid in better understanding of the landscape and faster decision making of the audience to this report.
• Based on component, the global cybersecuirty market is segmented into solutions and services. The solutions segment is further segmented into identity and access management, risk and compliance management, firewall, disaster recovery, unified threat management, antivirus, web filtering, data loss prevention, security information and event management, and others. The services segment is further segmented into managed services and professional services. The professional service segment is further sub-segmented into consulting, training and education, support and maintenance, and design and integration.
• Based on organization size, the global cybersecurity market is segmented into small and medium-sized enterprises, and large enterprises.
• Based on security type, the cybersecurity market is segmented into endpoint security, network security, cloud security, application security, and wireless security.
• Based on deployment model, the global cybersecurity market is segmented into cloud and on-premise.
• Based on vertical, the global cybersecurity market is segmented into BFSI, healthcare, IT and telecommunication, manufacturing, retail, government, and aerospace and defense.
Detailed Regional Analysis:
The global cybersecurity market is segmented into the regions of North America, South America, the Middle East & Africa, Asia Pacific, and Europe. North America held the largest share of the global cybersecurity market at the beginning of the forecast period. This market dominion can be owed to the enterprises deploying cybersecurity solutions as the number of cyberattacks rise rapidly. The US is estimated to lead the country-specific market for cybersecurity over the forecast period.
Asia Pacific is anticipated to witness fast paced ascension in cybersecurity market during the forecast period. This is attributable to the rising need to prevent enterprises from cyberthreats. Further, rising application in various verticals is also boosting regional market growth.
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October 2019: Tines, a cybersecurity automation startup based in Dublin recently raised USD 4.1 million in Series a funding.
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