In 2017, the global cyber security market was valued at USD 105.48 billion driven majorly due to the proliferation of data breaches. The growth of global cybersecurity market size is in direct correlation with the rising cost of cyber-attacks, which is expected to grow in the forecast period. Organizations of all sizes are spending more money to bolster their defense against the growing severity and frequency of cyber-attacks.
Cybersecurity mainly includes protection of computers, networks, programs, and data from unauthorized access. Recently, the importance of cybersecurity has increased to a greater extent as vast amounts of confidential information and data is collected, stored and transmitted across networks by the corporations, governments and people. Over the last decade, high-profile incidents of cyber hacks have increased the demand for sophisticated software and security products. Companies around the world are growing more conscious towards potential threats, which is leading to greater allocation of resources to mitigate the risk. This, in turn, has led to the growth of cyber security market globally.
Internet connected industrial systems manage and control critical infrastructure such as the national energy grids. For instance, the US government has identified cybersecurity as one of the most serious economic challenge and spent around USD 19 billion in the year 2017. Owing to the rise in quantity and severity of cyber-attacks, investors are making more deals to back private cybersecurity companies as never before. In 2017 alone, around 170 deals were made by the investors in cybersecurity across the world. This creates an amount of opportunity in the global cyber security market.
Security and vulnerability management (SVM) provides policy and compliance context, vulnerability information and, a complete view of enterprise risk management. SVM simplifies the complexity involved in managing multiple security solutions while increasing the effectiveness and proactivity of security. The SVM segment is growing at a faster pace and at the second highest CAGR among the different solutions in the overall cyber security market. This is due to various technological advancements in the SVM such as, security intelligence and event management (SIEM) which includes huge amount of security data to be processed for finding critical information. The effectiveness of ransomware and increased demand of structured process around security and device management continues to drive the SVM and the overall cybersecurity market.
The cloud cyber security market segment is expected to perform well in the future owing to its numerous benefits. When cloud services are used in traditional classified environments, they provide opportunities to gain visibility across infrastructure, platforms and applications. Threat of breaching the infrastructure perimeter can be detected by collecting the pulse points from the high-speed networks which are connected to the cloud. New cybersecurity products are emerging to provide real-time and deep insight of metrics collected in the cloud infrastructure. Cloud computing offers better security by decreasing the need for deployment of thick client devices, which can be data breach entry points and require constant patchwork. Cloud-based companies are coming together to introduce innovative technologies designed to leverage the insights provided through cloud computing and produce awareness about improved cyber security at every layer of the IT stack. Hence, cloud computing offers greater visibility and insight which drives the global cybersecurity market.
The geographic analysis of cyber security market explores into the segments of solution, deployment type and industry vertical across five regional segments namely, North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. North America has always been the leader in terms of the market share in the overall cybersecurity market owing to the US domination in the industry, with 365 American companies among the top 500 innovative cyber security companies of the world.
The key market players in the cybersecurity market are IBM, Symantec, Microsoft, Cisco, McAfee, Oracle and others. These prominent players have always looked forward to implement eminent strategies through partnerships, agreements, collaborations and business expansions. For instance, Patriot One Technologies completed the acquisition of EhEye, a video threat recognition software in November 2018.
Cybersecurity Market Scope
|Growth Rate||CAGR of 20% during 2021-2028|
Key segments of the global cyber security market
Deployment type Overview, 2012-2025 (USD million)
- On premise
Solution Overview, 2012-2025 (USD million)
- Identity access management
- Web security
- Network, Security & vulnerability management (SVM)
- Education & training
- Managed services
Industry vertical Overview, 2012-2025 (USD million)
Regional Overview, 2012-2025 (USD million)
- North America
- Latin America
- Middle-East & Africa
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global cyber security industry.
- We have been following the global identity theft market. Data breaches are growing rapidly across various sectors as the companies are generating tons of data which could be exploited for monetary or other benefits.
- Rapid growth in technological advancements have led to the rise of new cybersecurity solutions which are dynamic and provides the customer with a meaningful proposition.
What does the report include?
- The study on the global cyber security market includes qualitative factors such as drivers, restraints, and opportunities.
- The study covers qualitative and quantitative analysis of the market segmented on the basis of application, deployment model, industry application and region. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
This study is suitable for industry participants and stakeholders in the IT security industry, who want an in-depth insight into the cybersecurity market. The report will benefit:
- Executives of any data-generating companies
- Managers within financial institutions looking to publish recent and forecasted statistics pertaining to fraud analytics
- Venture capitalist looking into investing capital
- Government organizations, regulatory authorities, policymakers and financial organizations looking for innovative solutions in the field of cyber security
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies