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In 2022, the total size of the global market for cyber security was estimated to be worth 153.68 billion USD. The market is anticipated to increase at a compound annual growth rate (CAGR) of 14.8% throughout the duration of the forecast, going from 172.33 billion USD in 2023 to 424.97 billion USD in 2030.
Protecting computer systems, computer networks, and computer programmes from being attacked digitally is what cyber security does. In most cases, the goal of a cyberattack is to extort money from users or disrupt routine corporate operations in order to edit, access, or delete important information. In the approaching years, it is anticipated that the growth of the cyber security market would be driven by the rising usage of enterprise security solutions in manufacturing, Banking, Financial Services, and Insurance (BFSI), and healthcare.
A number of companies went out of business in the first and second quarters of 2020, which led to a minor decrease in the overall level of cyber security in the year 2020. However, the market began to show signs of improvement towards the end of the second quarter as a result of a number of businesses installing cyber security solutions in conjunction with the adoption of a culture of remote work. Because employees utilised their own devices for corporate business while connecting to private Wi-Fi or anonymous networks, the organisation's security was compromised. As a result of this, a number of businesses have implemented cyber security solutions to help them manage and safeguard the growing number of endpoint devices, in addition to obtaining protection from threats posed to the network.
As a result of the hybrid working trend, which is likely to persist for the foreseeable future, it is estimated that the market will continue its growth after the epidemic. Because of the growing trend of bringing your own device to work (BYOD), many employees are likely going to continue working from their homes or other distant locations. According to research that was presented by Nine2FiveJobSearch.com, prior to the pandemic, 29% of the workforce in the United States had the option of working from home on a part-time basis. This number is expected to rise to 50% of the workforce by the year 2020 when it comes to working from home. The trend towards bringing your own device to work (BYOD) and hybrid working environments is likely to increase the danger of cyberattacks, which is anticipated to drive the use of cyber security solutions and fuel market growth.
In recent years, there has been an increase in the use of targeted attacks, which infiltrate their targets' network infrastructure while keeping their anonymity. Attackers that have their sights set on a particular target will typically launch their assaults against endpoints, networks, on-premises devices, cloud-based apps, data, and other IT infrastructures. The primary goal of targeted assaults is to break into the computer networks of the businesses or organisations that are the targets of the attacks and steal sensitive data. These targeted attacks have a severe impact on business-essential operations in organisations, resulting in business disruptions, loss of intellectual property, loss of financial resources, and loss of critical and sensitive customer information. Not only does the impact of targeted cyberattacks have an effect on the organisations that are attacked, but also on customers both domestic and international.
The requirements for cyber security are growing at a faster rate than the funds that are intended to fulfil them. The vast majority of smaller businesses do not have the financial resources or the IT security skills necessary to implement upgraded cyber security solutions that will protect their networks and IT infrastructures from a variety of cyberattacks. It is anticipated that a lack of investments and restricted funds would continue to act as a barrier to the implementation of cyber security solutions among smaller businesses in developing nations. The lack of financial competence in these companies leads to a lack of appropriate information technology security infrastructures, which in turn results in a sluggish adoption of new technologies and enterprise security solutions. The effective administration of allocated budget funds for a variety of operational difficulties and business continuity planning is a burden for small businesses, which leaves less focus on adopting cyber security solutions.
Report Coverage
Global Cyber Security research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Cyber Security report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Cyber Security competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Cyber Security market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Cyber Security market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Cyber Security market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
IBM (US), Cisco (US), Check Point (Israel), Trellix (US), Trend Micro (Japan), NortonLifeLock (US), Rapid7 (US), Micro Focus (UK), Microsoft (US), Amazon Web Services (AWS) (US), Oracle (US), Fortinet (US), Palo Alto Networks (US), Accenture (Ireland)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Cyber Security market based on the below-mentioned segments:
Global Cyber Security Market, By component
Hardware
Software
Services
Global Cyber Security market, By Software
IAM
Antivirus/Antimalware
Log Management and SIEM
Encryption and Tokenization
Compliance and Policy Management
Patch Management
Other Software
Global Cyber Security Market, By Vertical
Aerospace and Defense
BFSI
IT and ITeS
Telecommunication
Energy and Utilities
Retail and eCommerce
Healthcare
Transportation and Logistics
Manufacturing
Media and Entertainment
Other Verticals
Global Cyber Security market, Regional Analysis
Protecting computer systems, computer networks, and computer programmes from being attacked digitally is what cyber security does. In most cases, the goal of a cyberattack is to extort money from users or disrupt routine corporate operations in order to edit, access, or delete important information. In the approaching years, it is anticipated that the growth of the cyber security market would be driven by the rising usage of enterprise security solutions in manufacturing, Banking, Financial Services, and Insurance (BFSI), and healthcare.
A number of companies went out of business in the first and second quarters of 2020, which led to a minor decrease in the overall level of cyber security in the year 2020. However, the market began to show signs of improvement towards the end of the second quarter as a result of a number of businesses installing cyber security solutions in conjunction with the adoption of a culture of remote work. Because employees utilised their own devices for corporate business while connecting to private Wi-Fi or anonymous networks, the organisation's security was compromised. As a result of this, a number of businesses have implemented cyber security solutions to help them manage and safeguard the growing number of endpoint devices, in addition to obtaining protection from threats posed to the network.
As a result of the hybrid working trend, which is likely to persist for the foreseeable future, it is estimated that the market will continue its growth after the epidemic. Because of the growing trend of bringing your own device to work (BYOD), many employees are likely going to continue working from their homes or other distant locations. According to research that was presented by Nine2FiveJobSearch.com, prior to the pandemic, 29% of the workforce in the United States had the option of working from home on a part-time basis. This number is expected to rise to 50% of the workforce by the year 2020 when it comes to working from home. The trend towards bringing your own device to work (BYOD) and hybrid working environments is likely to increase the danger of cyberattacks, which is anticipated to drive the use of cyber security solutions and fuel market growth.
In recent years, there has been an increase in the use of targeted attacks, which infiltrate their targets' network infrastructure while keeping their anonymity. Attackers that have their sights set on a particular target will typically launch their assaults against endpoints, networks, on-premises devices, cloud-based apps, data, and other IT infrastructures. The primary goal of targeted assaults is to break into the computer networks of the businesses or organisations that are the targets of the attacks and steal sensitive data. These targeted attacks have a severe impact on business-essential operations in organisations, resulting in business disruptions, loss of intellectual property, loss of financial resources, and loss of critical and sensitive customer information. Not only does the impact of targeted cyberattacks have an effect on the organisations that are attacked, but also on customers both domestic and international.
The requirements for cyber security are growing at a faster rate than the funds that are intended to fulfil them. The vast majority of smaller businesses do not have the financial resources or the IT security skills necessary to implement upgraded cyber security solutions that will protect their networks and IT infrastructures from a variety of cyberattacks. It is anticipated that a lack of investments and restricted funds would continue to act as a barrier to the implementation of cyber security solutions among smaller businesses in developing nations. The lack of financial competence in these companies leads to a lack of appropriate information technology security infrastructures, which in turn results in a sluggish adoption of new technologies and enterprise security solutions. The effective administration of allocated budget funds for a variety of operational difficulties and business continuity planning is a burden for small businesses, which leaves less focus on adopting cyber security solutions.
Report Coverage
Global Cyber Security research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Cyber Security report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Cyber Security competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Cyber Security market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | IBM (US), Cisco (US), Check Point (Israel), Trellix (US), Trend Micro (Japan), NortonLifeLock (US), Rapid7 (US), Micro Focus (UK), Microsoft (US), Amazon Web Services (AWS) (US), Oracle (US), Fortinet (US), Palo Alto Networks (US), Accenture (Ireland) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Cyber Security Market from 2021 to 2030.
- Market Forecast for Cyber Security Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Cyber Security competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Cyber Security
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Cyber Security market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Cyber Security market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
IBM (US), Cisco (US), Check Point (Israel), Trellix (US), Trend Micro (Japan), NortonLifeLock (US), Rapid7 (US), Micro Focus (UK), Microsoft (US), Amazon Web Services (AWS) (US), Oracle (US), Fortinet (US), Palo Alto Networks (US), Accenture (Ireland)
Primary Target Market
- Market Players of Cyber Security
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Cyber Security market based on the below-mentioned segments:
Global Cyber Security Market, By component
Hardware
Software
Services
Global Cyber Security market, By Software
IAM
Antivirus/Antimalware
Log Management and SIEM
Encryption and Tokenization
Compliance and Policy Management
Patch Management
Other Software
Global Cyber Security Market, By Vertical
Aerospace and Defense
BFSI
IT and ITeS
Telecommunication
Energy and Utilities
Retail and eCommerce
Healthcare
Transportation and Logistics
Manufacturing
Media and Entertainment
Other Verticals
Global Cyber Security market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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