Cybersecurity Market Will Reach USD 300 billion by 2027: Meticulous Research®
Cybersecurity Market by Type (Network Security, Endpoint Security, Application Security, Cloud Security), Solution (Unified Threat Management, Antimalware, Firewall, Disaster Recovery, Web Filtering, DDS Management, Encryption) – Global Forecast to 2027
Pune, India – January 13, 2020 /MarketersMedia/ —
Cybersecurity is a practice of protecting programs, networks, and systems from digital attacks. These cyberattacks are usually aimed at accessing, changing, damaging, or destroying sensitive data, and interrupting business and public sector processes. The rapidly increasing cybercrimes and continuously increasing demand for security services to mitigate the risk of cyberattacks are driving the growth of global cybersecurity market. The global cybersecurity market is witnessing consistent growth and is expected to maintain its growth throughout the forecast period. Meticulous Research® in its latest publication estimates that the cybersecurity market will increase at a CAGR of 11.2% from 2019 to 2027 to reach $300.9 billion by 2025.
To provide efficient analysis, Meticulous Research has segmented this market on the basis by component (solution, services), type (network security, endpoint security, application security, cloud security), deployment (on-premises, cloud), industry size (SME, large enterprises), industry vertical (aerospace and defense, government, BSFI, IT & telecom, healthcare, retail, manufacturing and others) and region – global forecast to 2027.’’
Geographic Review
Geographically, North America commanded the largest share of the cybersecurity market followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa. The major share of North America is mainly attributed to high awareness for cybersecurity solutions and growing number of cyberattacks in the region in the recent past. Growing investments in network security, rapid adoption of IoT solutions, and increasing threats of cyberattacks are further supporting the growth of the cybersecurity market in North America. However, the Asia-Pacific region is promising fastest growth of cybersecurity market due to the rapid economic development, digitization in developing countries, increasing adoption of cloud-based solutions, and increased sophistication of cyber-attacks in the region.
On the basis of component, the cybersecurity market is segmented into solutions and services. The solutions segment claimed majority share of the global cybersecurity market in 2018. This segment is expected to lead throughout the forecast period as various cybersecurity solutions are increasingly creating a huge impact as the first line of defense for data security. Owing to the sophisticated modern design of firewalls capable of tackling issues such as denial of service and frauds, cybersecurity solutions have become an essential tool for securing sensitive data of an organization. Furthermore, factors such as prevention of long-term evolution networks against unlawful messages and malicious attacks are also driving the demand of various cybersecurity solutions.
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In terms of industry verticals, the market is segmented into aerospace & defense, government, BFSI, IT & telecom, healthcare, retail, and manufacturing, among others. Among these, the demand for cybersecurity solutions in healthcare vertical is expected to grow at a fastest pace during the forecast period. In the recent past, the healthcare industry faced some of the biggest cybercrimes, exposing critical and confidential information of thousands of patients. This has created a sense of urgency among healthcare organizations to implement cybersecurity solutions. Thus, increasing concerns among healthcare organizations for patient data security are expected to support the growth of the cybersecurity solutions market for the healthcare industry.
Key Players:
The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in this market including Fortinet, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Juniper Networks, Inc. (U.S.), Palo Alto Networks, Inc. (U.S.) ,IBM (U.S.), Check Point Software Technologies Ltd. (Israel), F5 Networks, Inc. (U.S.) ,FireEye, Inc. (U.S.) ,Splunk Inc. (U.S.) ,Symantec Corporation (U.S.), Oracle (U.S.) ,Microsoft Corporation (U.S.) ,Intel (U.S.) Imperva Inc(U.S.), CyberArk Software Ltd. (U.S.), RSA Security LLC. (U.S.) among others.
Browse 220 Market Data Tables and 34 Figures spread through 235 Pages and in-depth TOC:
https://www.meticulousresearch.com/product/cybersecurity-market-5069/
Key Topics Covered in This Report:
1. Introduction
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency and Limitations
1.3.1. Currency
1.3.2. Limitations
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Approach
2.2. Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research
2.2.3. Market Size Estimation
2.2.3.1. Bottom-Up Approach
2.2.3.2. Top-Down Approach
2.2.3.3. Growth forecast
2.2.4. Market Share Analysis
2.3. Assumptions for the Study
3. Executive Summary
3.1. Market Overview
3.2. Market Analysis, by Component
3.3. Market Analysis, by Security Type
3.5. Market Analysis, by Deployment
3.6. Market Analysis, by Industry Size
3.9 Market Analysis, by Industry Vertical
3.7. Market Analysis, by Geography
3.8. Competitive Analysis
4. Market Insights
4.1. Introduction
4.2. Market Dynamics
4.2.1. Driver
4.2.1.1. Increasing Demand for Network Security and Privacy
4.2.1.2. Increasing Adoption of Cloud Computing
4.2.1.3. Adoption of Digital Transformation in Telecommunication Industry
4.2.1.4 Increasing Frequency of Cyberattacks
4.2.1.5 Growing Regulations for Information Security
4.2.2. Restraints
4.2.2.1. Lack of Preventive Firewall Maintenance
4.2.2.2. Rapid Proliferation of New Malware Samples
4.2.2.3 Budgetary Constraints of SMEs
4.2.3. Opportunities
4.2.3.1.Growing E-commerce Industry
4.2.3.2 Growing Adoption of Cloud Computing Among SMEs
4.2.3.3 Increased Adoption of Network Function Virtualization
4.2.4. Challenges
4.2.4.1. Growing Grey Route Fraudulent Activities
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5. Cybersecurity Market, by Component
5.1. Introduction
5.2. Solution
5.2.1. Encryption
5.2.2. Data Loss Prevention
5.2.3. Unified Threat Management
5.2.4. Firewall
5.2.5. Antivirus/Antimalware
5.2.6. Intrusion Detection System/Intrusion Prevention System
5.2.7. Security and Vulnerability Management
5.2.8. Disaster Recovery
5.2.9. Web Filtering
5.2.10. Identity & Access Management
5.2.11. Risk & Compliance Management
5.2.12. DDS Management
5.3. Service
5.3.1. Professional Services
5.3.2. Managed Services
6. Cybersecurity Market, by Type
6.1. Introduction
6.2. Network Security
6.3 Endpoint Security
6.4. Application Security
6.5. Cloud Security
7. Cybersecurity Market, by Deployment
7.1. Introduction
7.2. On-Premises
7.3. Cloud
8. Cybersecurity Market, by Industry Size
8.1. Introduction
8.2. Small and Medium Enterprises
8.3. Large Enterprises
9. Cybersecurity Market, by Industry Vertical
9.1. Introduction
9.2. Aerospace and Défense
9.3. Government
9.4. BFSI
9.5. IT and Telecom
9.6. Healthcare
9.7. Retail
9.8. Manufacturing
9.9. Others
10. Cybersecurity Market by Geography
10.1. Introduction
10.2. North America
10.2.1. U.S.
10.2.2. Canada
10.3. Europe
10.3.1. U.K.
10.3.2. Germany
10.3.3. France
10.3.4. Italy
10.3.5. Spain
10.3.6. Rest of Europe
10.4. Asia Pacific
10.4.1. China
10.4.2. India
10.4.3. Japan
10.4.4. South Korea
10.4.5. Australia and New Zealand
10.4.6. Rest of Asia Pacific
10.5. Latin America
10.5.1. Mexico
10.5.2. Brazil
10.5.3. Argentina
10.6. Middle East and Africa
10.6.1. Israel
10.6.2. GCC
10.6.3. Rest of MEA
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