Cyber Security Market

SKU: DMICT296 | Last Updated On: Jan 09 2023 | Available Formats

> Cyber Security Market Expected to reach a high CAGR of 13.2% By 2029

Cybersecurity Market is segmented By Type (Network Security, Cloud Security, Application Security, End-Point Security, Wireless network Security, and Others), By Solution (Threat Intelligence and Response, Identity and access management, Data Loss Prevention, Threat mitigation, Encryption, Firewall, others), By Industry Sector (BSFI, IT & Telecom, Government, Healthcare, Others) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2022-2029.

Cybersecurity Market Overview

Cyber Security Market is expected to grow at a CAGR of 13.2% during the forecasting period (2022-2029).

Cyber security is a broad collection of technologies, solutions, services, and risk management approaches to protect organizational and user personal and professional data from cybercrimes. Market size – The government, public utilities, and enterprises are all dependent on the internet, wireless technologies, and cloud-based services for storage, processing, and retrieval of data. With the increase in this dependency over the years, cyber-attacks have increased exponentially and have generated the need for unified cybersecurity solutions that support enhanced enterprise mobility and strict data disclosure laws. The cybersecurity market is experiencing a boom because of the need for global cybersecurity for secure and resilient cyberspace.

Cybersecurity Market Scope and Summary

Metrics

Details

Market CAGR

13.2%

Segments Covered

By Pet Type, By Solution, By Industry Sector, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

 

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Cybersecurity Market Dynamics and Trends

Drivers

  • The emerging global economy is driving and inviting technology adaption with the advancement in cloud computing and hosting services.

  • An increase in the number of internet users is stirring strong requirements for various cybersecurity solutions such as cloud-based IAM products, UTM, web filtering, and so on require a minimum initial investment.

  • In the coming years, it is expected that the majority of the big cybersecurity providers will widen their product portfolio and enhance the network of their partners globally.

Challenges

The Biggest Challenge for Cyber Security organizations results from two Mega Trends

  • The exponential growth in data from business systems and security sensors is meant to protect those businesses.

  • The extreme and growing shortage of skilled cybersecurity personnel to analyze and respond to incidents is illuminated by this data.

  • The other challenge is the Budget. 62% of CIOs and other cybersecurity professionals from the Global Information Security survey, in 2015 said budget constraints are their biggest challenge.

Cybersecurity Market Segmentation Analysis

Based on the Security Type

  • The global cybersecurity market is segmented into Network Security, Wireless security, Cloud security, etc.

  • More than 40% of the overall share is with the Network security market due to the increasing visualization of servers and the rise in the use of Network security solutions by medium and small-sized businesses across the globe.

Based on Industry/Sector

  • The banking and finance sector is witnessing significant changes due to the adaption of IT solutions for the improvement of banking services.

  • Increasing adoption of online transactions and increasing use of services such as National Electronic Fund Transfer (NEFT), Real-time Gross Settlement Systems (RTGS), Electronic Clearing Service (ECS), and mobile transactions has propelled the demand for security solutions to carry out these tractions safely and securely.

  • The count is expected to rise to 181.77 billion users by 2025.

  • The continuous increase will raise the market demand.

Global Cybersecurity Market Geographical Share

  • Based on geography, the Cyber Security Market is segmented into Asia Pacific, Europe, North America, South America, and the Rest of the world.

  • The global cyber security market is dominated by North America as the US is a significant contributor.

  • Europe is the second leading player in the cyber security market.

  • Asia-Pacific is also rapidly emerging as a prominent market for cybersecurity products and service providers due to rising concerns of governments toward safeguarding their respective cyber ecosystems.

Report Scope

  • The report covers factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.

  • It profiles companies like Check Point Software Technologies, Fire Eye Inc. Intel Security, Cisco Systems Inc. IBM Corporation, Symantec Corporation, and Dell Technologies, Inc. Cyber-Ark Software.

 

Frequently Asked Questions

What is the Projected CAGR value of the Cyber Security Market?

Cyber Security Market is expected to grow at a CAGR of 9.4% during the forecasting period 2022-2029.

What is the Airbag Cyber Security Market size in 2021?

The Market size was valued at USD YY million in 2021.

Who are the key players in Airbag Cyber Security Market?

Major Players are Check Point Software Technologies, Fire Eye Inc. Intel Security, Cisco Systems Inc. IBM Corporation, Symantec Corporation, Dell Technologies, Inc. Cyber-Ark Software.

 

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