Global Cybersecurity Market - Growth Drivers, Opportunities and Forecast Analysis to 2027
Summary - A new market study, titled “Global Cybersecurity Market - Growth Drivers, Opportunities and Forecast Analysis to 2027” has been featured on
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Global
Cybersecurity Market likely to drive by increasing instances of online threats
and growing need for strict compliance with regulatory requirements
The
global cybersecurity market accounted for revenue over USD 192 billion in 2019
and estimated to reach more than USD 218.9 billion by 2027, with a CAGR of over
6.56% during the forecast period, 2020-2027. Owing to the growing penetration
of internet users among the developing and developed countries along with the
rise in demand for security solutions in financial and banking services
sectors, and aerospace defence sector. The rapid development and popularity of
big data, artificial intelligence, and the Internet of Things have made the
dangers of cyber-attacks more realistic and more significant. Therefore, the
proportion of cybersecurity and informatization investment is continuously
increasing, opening a comprehensive cybersecurity market.
The continuously increasing number of targeted attacks is driving the growth in cybersecurity services as venture capital firms and governments continued to invest significant money into cybersecurity companies.
Government
across the globe have put cybercrime at the top of the list as cyber-attacks
are growing exponentially and putting potential threats to national security.
They are spending more money on new ways to protect themselves against such
risks. Additionally, the rising popularity of digitalization has forced
organizations to rely extensively on the digitized information coupled with the
sharing of a vast amount of data in an external and internal environment and
across the globe has made organizations to fall prey to cybercrime attacks.
The
emergence of IoT and BYOD trend among organizations, and the increasing number
of mobile devices among organizations will make more vulnerable towards
cyber-attacks, which led to augment the global cybersecurity market in the
projected period. Further, the surge in the utilization of emerging
technologies in the banking, retail, information technology, defence, and
automotive sectors have offered new options for cyber-attackers.
Components
Overview in the Global Cybersecurity Market
Based
on the component, the global cybersecurity market bifurcated into Solution and
Service. The solution segment likely to lead the market by 2027, as it provides
the most secure solution through identity and access management, security and
vulnerability management, unified threat management, and intrusion detection
systems.
Solution
Overview in the Global cybersecurity market
Based
on the solution, the global Cybersecurity market segmented into Threat
Intelligence, Unified Threat Management, Data Loss Prevention, Antivirus/Antimalware,
Intrusion Detection Systems, and Others (Firewall, Disaster Recovery, Web
Filtering, etc.). The Threat Intelligence segment estimated to exhibit maximum
revenue by 2027 due to the increasing popularity of connected devices (BYOD)
and IoT.
Security
Type Overview in the Global Cybersecurity Market
Based
on security type, the global cybersecurity market classified into Network
Security, Endpoint Security, Application Security, Cloud Security, and Others
(Content Security, ICS Security, Database Security, and Web Security, etc.).
The Network Security segment projected to lead the market due to its security
benefits for traditional products such as firewalls, identity authentication,
terminal security management, and security management platforms, emerging
products such as cloud security, big data security, and industrial control
security.
Deployment
Overview in the Global Cybersecurity Market
Based
on deployment, the global cybersecurity market bifurcated into Cloud-based and
On-premise. Cloud-based segments estimated to dominate the market by 2027 due
to rapidly accepted by various enterprises, as critical data stored on the
cloud across various verticals.
Industry
Verticals Overview in the Global Cybersecurity Market
Based
on Industry verticals, the global cybersecurity market categorized into BFSI,
IT and Telecom, Manufacturing, Government and Defense, Healthcare and Others
(Energy and Utilities, Retail, Media & Entertainment, etc. The BFSI segment
will lead the market on account of increased cybercrime activities, and the
BFSI sector is among the vital factors of economics. Its safety is a matter of
deep concern.
Regional
Overview in the Global Cybersecurity Market
By
geography, the Global cybersecurity Market segmented into North America,
Europe, Asia Pacific, Middle East & Africa, and South America. North
America anticipated dominating the market owing to the growing awareness
regarding cybersecurity among small and medium organizations and the presence
of key market players in the region.
Global
Cybersecurity Market: Competitive Landscape
Companies
such as IBM Corporation, Symantec, Check Point Software Technologies, Cisco
Systems, Trend Micro, Sophos, Rapid7, McAfee, Micro Focus, Microsoft, Imperva,
Splunk, F5 Networks, Proofpoint, RSA Security, Juniper Networks, and Oracle are
the key players in the Global Cybersecurity Market.
FOR MORE DETAILS: https://www.wiseguyreports.com/reports/5624674-global-cybersecurity-market-by-component-solution-and-service
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