Cyber Security Market

Cyber Security - Global Market Outlook (2020-2028)

4.4 (34 reviews)
Published: April 2021 ID: SMRC20430
4.4 (34 reviews)
Published: April 2021 ID: SMRC20430

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Cyber Security Market is accounted for $143.09 billion in 2020 and is expected to reach $475.62 billion by 2028 growing at a CAGR of 16.2% during the forecast period. Rise in demand for cloud-based cyber security solutions, increasing malware and phishing threats among enterprises, and growing need for strong authentication methods are the major factors propelling the market growth. However, challenges associated with storage of unstructured data and constantly changing cyber security industry regulations, standards, and complexities of device security are hampering the market growth.

Cyber security, also referred to as IT security, emphasizes on safeguarding computers, programs, networks, and data from unlicensed or spontaneous access. It comprises network security, application security, endpoint security, identity management, data security, cloud security, and infrastructure security. As cyber threats have increased at an alarming rate, security solutions have been gaining traction, globally. Solutions such as antivirus software and firewalls have grown in complexity and proven to be effective at preventing threats and attacks, such as malware, Trojans, and phishing. The success of these solutions has led to rapid development of the cyber security industry, as implementing technical defense has become a standard best practice in every enterprise.

Based on end user, the healthcare segment is going to have a lucrative growth during the forecast period owing to the rampant growth of cybercrime activities in healthcare in recent years. Cybercrime activities in healthcare facilities involve insider threats, data breaches, ransomware, advanced malware attacks, and distributed denial of service attacks, which may compromise the integrity of systems and disrupt patient care services. Moreover, the creation of misleading websites and phishing activities to obtain sensitive information could also increase investments in cyber preparedness measures. Besides, the growing adoption of cloud applications, connected devices, digital solutions, and open-source information for creating awareness among healthcare providers, payers, and patients also emphasizes the need for security solutions to reduce the risk of vulnerabilities.

By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the rising digitalization era at a rapid pace across the region. Enterprises from industries, such as telecom, energy, finance, and technology, in the region are targets of advanced persistent threat actors. Most attacks are prevalent amongst Southeast Asian nations. Governments and enterprises are involved in framing cyber defense strategies for future cyber defense preparedness. Some of the initiatives include strengthening critical infrastructures and developing a strong cyber defense ecosystem comprising skilled professionals. These efforts toward securing IT networks, critical infrastructures, and endpoints are anticipated to contribute to the growth of the regional market over the forecast period.

Some of the key players profiled in the Cyber Security Market include Accenture, Broadcom, Capgemini, Check Point Software Technology Ltd., Cisco Systems, Inc., Cognizant, F5, Inc., Fireeye, Inc., HCL Technologies Limited, IBM Corporation, Infosys Limited, L&T Technology Services Limited, McAfee, LLC, Palo Alto Networks, Inc, Pricewaterhousecoopers International Limited,Tata Consultancy Services Limited, Tech Mahindra Limited, Trend Micro Incorporated, and Wipro Limited.
Components Covered:
• Hardware
• Software

Solutions Covered:
• Intrusion Detection Systems/Intrusion Prevention Systems
• Threat Intelligence
• Next Generation Firewall
• Antivirus/Antimalware
• Web Filtering
• Distributed Denial Of Service Mitigation Protection Appliance
• Disaster Recovery
• Encryption
• Data Loss Prevention
• Other Solutions

Deployment Types Covered:
• Cloud
• On-premises

User Types Covered:
• Large Enterprises
• Small & Medium Enterprises

Services Covered:
• Professional Services
• Managed Services
• Integration Services

Securities Covered:
• Content Security
• Data Security & Privacy Service
• Infrastructure Protection
• Enterprise
• Industrial Control System (ICS) Security
• Internet of Things (IoT) Security
• Application Security
• Web Security

Use Cases Covered:
• Security Monitoring
• Network Traffic Analysis
• Threat Hunting
• Incident Response
• Data Exfiltration

End Users Covered:
• Automotive
• Banking, Financial Services and Insurance (BFSI)
• Government and Defense
• Education
• Energy & Utilities
• Healthcare
• Information Technology (IT) & Telecom
• Discrete Manufacturing
• Media & Entertainment
• Public Sector
• Process Manufacturing
• Retail
• Transportation & Logistics
• Investment Services & Insurance
• Aerospace

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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• Competitive Benchmarking
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