The largest cyber threat of 2018 will continue its unprecedented growth in 2019. Our insights cover a range of verticals and capabilities, and show how transformative technologies can accelerate growth in cybersecurity market.
Dallas, United States – February 26, 2019 /MarketersMedia/ —
According to the Adroit Market Research Report, we will see continued growth in cybersecurity market. Study detected a high number of regulations & investments in developing economies such as 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.
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The global cyber security market size was valued at USD 105.48 billion in 2018 and is presumed to witness significant growth USD 394.17 billion over the forecast period of 2019 to 2022. Cybersecurity has become a strategic imperative for firms owing to increased emphasize on inhibiting information in response to high profile data breaches and thefts. Cybersecurity solutions are used across public and private enterprises to ensure security of financial and personal information, reducing risks and establish protection against cyber-attacks.
The global cybersecurity market report also includes qualitative insights of the market such as drivers, restrains, value chain, regulatory framework, PESTLE analysis and Porter’s analysis. The value chain has been analyzed in detail covering key stages. Additionally, we have provided a glimpse of the global identity theft market. The global cybersecurity market 2018 gives a holistic view encompassing production, consumption, import and export for key regions and countries.
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The evolution of cloud computing technologies is becoming the major driver of cybersecurity market. The increasing adoption of cloud computing has moved the potential area of cyber-attacks from the corporate network to the cloud networks managed by third party across different geographies. In the era of industry 4.0, the organizations are connected with their smart devices and networks. This offers a very lucrative target for the cyber criminals to penetrate more easily through the connected devices and networks. Hence, increasing adoption of IoT devices will help in the growth of cybersecurity market.
The current cybersecurity market focuses mainly on the protecting the premises of organizations and companies. This includes preventing the cyber attackers from gaining access to the servers and training employees in order to prevent breaches. In future, the business to consumer aspect will play much bigger role as cybersecurity will enter into daily life activities such as cars and IoT devices which will eventually contribute to the cybersecurity services market.
Cybersecurity is one of the major concerns for healthcare organizations and the economic impact by the breaches has risen dramatically since 2010. According to a study conducted by Ponemon Institute in 2016, 89% of healthcare organizations have experienced a data breach in past two years, costing the industry USD 6.2 billion. Thus, the cybersecurity market in healthcare sector is expected to grow at a CAGR above 20% in the forecast period.
IBM, Microsoft, Oracle, McAfee, Cisco, and Symantec are the leading players present within the global cybersecurity market. These companies are focusing on expanding their presence in the global cybersecurity market over the next few years by adopting strategies such as mergers & acquisitions and product standardization. For instance, in November 2018, Symantec announced the acquisition of Appthority Inc. and Javelin Networks Inc., two startups focused on enterprise network protection.
Key segments of the global cybersecurity market
Deployment type Overview, 2012-2025 (USD Million)
Cloud
On premise
Solution Overview, 2012-2025 (USD million)
Identity access management
End-point
Web security
Network, Security & vulnerability management (SVM)
Messaging
Education & training
Consulting
Integration
Managed services
Others
Industry vertical Overview, 2012-2025 (USD million)
BFSI
ICT
Healthcare
Government
Manufacturing
Retail
Others
Regional Overview, 2012-2025 (USD million)
North America
S.
Canada
Europe
UK
Germany
Rest of Europe
Asia-Pacific
Japan
Australia
Rest of APAC
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
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About Us:
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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