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Global Cybersecurity Market - Market Size & Forecasting (2017-2028)

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  • 182 Pages
  • April 2021
  • Region: Global
  • Quince Market Insights
  • ID: 5514242
The global cybersecurity market size is estimated to be USD 162.5 billion in 2020 and is projected to register a CAGR of 12.5% to reach USD 418.3 billion by 2028. But due to the covid-19 impact, the market size estimation has fallen down to USD 160.8 billion in 2020 and is projected to register a CAGR of 10.2% to hit USD 349.0 billion by 2028.

The process of securing devices, networks, and programs from digital attacks is known as cybersecurity. Typically, cyberattacks are aimed at obtaining, modifying, or damaging confidential information; extorting users' money; or disrupting normal business processes. Today, it is becoming especially difficult, but important to enforce successful cybersecurity measures because there are more devices than people, and attackers are becoming more innovative.

An increase in the frequency and complexity of cyber-attacks, demand for increased cybersecurity in enterprises, and increasing internet penetration in developing and developed countries, driving the growth of the market. The need for security solutions have been strongly influenced by the private financial and banking services, healthcare, aerospace and defense, and telecom sectors due to increased cyber-attacks, is another factor anticipated to propel the growth of cybersecurity market.

In the past years, disruptive and evolving technologies in the banking, retail, IT, defense, and manufacturing industries have offered new capabilities, encouraged automation, and offered ease of operation. In the development of the global threat environment of exploits, vulnerabilities, and malware, these innovations have also emerged as a powerful factor. In the global technological environment, an emerging threat landscape can be observed with an increased number of cybercrime activities.

Rising popularity of digitalization has forced organizations to rely extensively on digitized information. In an external and internal world as well as across the globe, exchanging a large amount of data has made organizations fall victim to cybercrime through various types of attacks. For organization growth, technologies such as the Internet of Things (IoT) and new business models depend extensively on global digitization. Connectivity through the use of big data, cloud, social media, and mobile services is the primary medium for an increase in cybercrime activities. Therefore, all these factors are expected fuel the growth of cybersecurity market over the forecast period.

This research report categorizes the market for cybersecurity based on various segments and region and forecasts revenue growth and analysis of trends in each of the submarkets. The report analyses the key growth drivers, opportunities and challenges which influence the cybersecurity market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger and acquisition have been included in order to draw the competitive landscape in the cybersecurity market. The report strategically identifies and profiles the key market players and analyses their core competencies in each segment such as component, application deployment model, organization size, and vertical of the cybersecurity market.

Based on component, this market is bifurcated into solution and services. The solution segment is anticipated to account for the largest share in the global cybersecurity market in 2020. The solution segment offers various easy, flexible, affordable, and scalable features in cybersecurity, such as identity and access management, infrastructure security, governance, risk & compliance, unified vulnerability management, data security, and others. The identity and access management further offer access and authorization management, password management, biometric authentication, and directory services.

The infrastructure security segment is further divided into threat intelligence, network access control and firewalls, encryption, and others. The governance, risk, & compliance offers audit management, risk management, incident management, and compliance management. The data security provides backup and recovery, data masking and encryption, and access control.

Based on the security type, the global cybersecurity market is classified into network security, endpoint security, application security, cloud security, and others. The network security segment is anticipated to account for the largest share in the global cybersecurity market in 2020. Over the forecast period, the global demand for network security is expected to record substantial growth. On every network, there is a clear need for protection, as network security issues are increasing exponentially. Network administrators are now focused on the introduction of emerging technologies and modules. Security of the network includes systems and devices used to define and monitor the prevention of failure or exploitation and the prevention of unauthorized access. Owing to the growing number of hackers, network security has gained attention in the past few years.

Based on the organization size, the global cybersecurity market is segregated into SMEs and large enterprises. Large enterprises are gradually improving their cybersecurity capabilities. However, an increase in the sophistication of attacks and evolving security threats are becoming a corporate data security concern. Over the forecast period, an increase in web-based applications and endpoint protection services in large enterprises are expected to drive the growth of cybersecurity solutions.

Based on the deployment model, global cybersecurity market is bifurcated into on-premises and cloud. The on-premises segment is anticipated to account for the largest share in the global cybersecurity market in 2020. However, the cloud segment is expected to grow with the fastest CAGR over the forecast period. The on-premise segment is projected to record substantial growth over the forecast period. Instead of turning it over to cloud vendors, companies tend to keep sensitive data in-house. Holding information in-house eliminates dependency on third-party agencies and allows them to specifically protect and monitor their data. In addition, on- premises solutions also allow hands-on ownership and security monitoring control, which provides a versatile and adaptive security program

Based on the vertical, the global cybersecurity market is categorized into professional/audio engineers and mixers, BFSI, government and defense, energy and utilities, healthcare, IT and telecom, manufacturing, retail, and others. In the BFSI sector, cybersecurity is of great significance. As the very cornerstone of banking lies in fostering trust and reputation, cybersecurity becomes all the more essential. Nowadays, it seems everyone is going cashless by using digital currency, like Credit Cards and Debit Cards. It is really important to ensure that all cybersecurity measures are in place in this context, in order to protect the data and privacy of users. Breaches of data can make it hard to trust financial institutions. When the data of a bank is breached, it also leads to the loss of customers’ time and money. In order to address such concerns, the demand for cybersecurity solutions in the BFSI sector will witness impressive growth in the coming years.

By region, the global cybersecurity market is segmented as North America, Europe, Asia Pacific, Middle East & Africa, and South America.

The North America region is expected to dominate the market over the forecast period. The growth of the market for cyber security solutions is due to the involvement of leading security vendors with global and regional headquarters in the United States. In addition, the other factors driving growth are the increased expenditure of large companies and SMEs on security solutions and services, the high level of adoption of internet services and the centrality of cyberspace across all aspects of the digital world, and in order to meet advanced cyber threat standards, companies in the region are constantly involved in product developments.

Table of Contents

1 Market Abstract
2 Market Introduction
2.1 Market Scope
3 Qmi Research Practice
3.1 Research Practice
3.1.1 Supply Based Analysis
3.1.2 Demand Based Analysis
3.1.3 Global Level Analysis
3.1.4 Country Level Analysis
3.1.5 Triangulation
3.2 Primary Data
3.3 Secondary Data
3.4 Market Evaluation & Forecasting Methodology
3.5 Assumptions/ Limitations for the Study
3.6 What this Study Provides
3.7 Key Questions Answered by this Report
3.8 this Study is Intended for
4 Key Related Data
4.1 Competitive Positioning
4.1.1 Product Positioning
4.1.2 Regional Reach Positioning
4.2 Key Industry Trends in Major Countries
4.2.1 Us
4.2.2 Canada
4.2.3 Germany
4.2.4 India
4.2.5 China
4.3 Guidelines/ Regulations
4.4 Major Investments in the Last Five Years by Global Players
4.5 Technological Advancement
4.5.1 Quantum Computing
4.5.2 5G Mobile Technology
4.5.3 It-Ot Convergence
4.6 Covid- 19 Impact on Cybersecurity Market
4.6.1 Us
4.6.2 Canada
4.6.3 UK
4.6.4 Germany
4.6.5 France
4.6.6 China
4.6.7 India
4.6.8 Japan
5 Impact Factor Analysis
5.1 Drivers/Restraints/Opportunities/Challenges
5.1.1 Drivers Rapid Increase in Cybersecurity Attacks Increasing Investment by Government and Organizations in Cybersecurity Solutions
5.1.2 Restraints Lack of Identity Standards and Budgetary Constraints in Deploying Cybersecurity Solutions for Smes Usage of Cybersecurity Solutions from Pirated and Open Source Resources
5.1.3 Opportunities Leveraging of Ai, Machine Learning, and Cyber Security Web Technology
5.1.4 Challenges Dearth of Information in Cybersecurity for Proactive Strategic Planning
5.2 Porter's Five Forces Model
6 Market Development Analysis
6.1 Overview
6.2 New Product Development / Product Launch (2015-2020)
6.3 Agreements, Partnership & Collaborations (2015-2020)
6.4 Mergers and Acquistions (2015-2020)
7 Cybersecurity Market, by Component
7.1 Introduction
7.2 Solutions
7.2.1 Identity and Access Management Access and Authorization Management Password Management Biometric Authentication Directory Services Others
7.2.2 Infrastructure Security Threat Intelligence Network Access Control and Firewalls Encryption Others Patch Management
7.2.3 Governance, Risk, & Compliance Audit Management Risk Management Incident Management Compliance Management Others
7.2.4 Unified Vulnerability Management
7.2.5 Data Security Backup and Recovery Data Masking and Encryption Access Control Others
7.2.6 Others
7.3 Services
7.3.1 Professional Services Design and Integration Risk and Threat Assessment Consulting Training and Education Support and Maintenance
7.3.2 Managed Security Services
8 Cybersecurity Market, by Security Type
8.1 Introduction
8.2 Network Security
8.3 Endpoint Security
8.4 Application Security
8.5 Cloud Security
8.6 Others
9 Cybersecurity Market, by Organization Size
9.1 Introduction
9.2 Small and Medium Enterprise
9.3 Large Enterprises
10 Cybersecurity Market, by Deployment Model
10.1 Introduction
10.2 On-Premises
10.3 Cloud
11 Cybersecurity Market, by Vertical
11.1 Introduction
11.1.1 Bfsi
11.1.2 Government and Defense
11.1.3 Energy and Utilities
11.1.4 Healthcare
11.1.5 It and Telecom
11.1.6 Manufacturing
11.1.7 Retail
11.1.8 Others
12 Cybersecurity Market, Regional Analysis
12.1 Introduction
12.2 North America
12.3 Europe
12.4 Asia-Pacific
12.5 Middle East & Africa
12.6 South America
13 Company Profile
13.1 Amazon Web Services, Inc.
13.1.1 Company Overview
13.1.2 Amazon Web Services, Inc: Financial Overview
13.1.3 Amazon Web Services, Inc: Product Overview
13.2 Check Point Software Technologies.
13.2.1 Company Overview
13.2.2 Check Point Software Technologies.: Financial Overview
13.2.3 Check Point Software Technologies: Product Overview
13.2.4 Check Point Software Technologies: Key Developments (2015-2020)
13.3 Cisco System
13.3.1 Company Overview
13.3.2 Cisco System: Financial Overview
13.3.3 Cisco System: Product Overview
13.4 Cyberark Software Ltd
13.4.1 Company Overview
13.4.2 Cyberark Software Ltd: Financial Overview
13.4.3 Cyberark Software Ltd: Product Overview
13.4.4 Cyberark Software Ltd: Key Developments (2015-2020)
13.5 F5 Networks, Inc.
13.5.1 Company Overview
13.5.2 F5 Networks, Inc.: Financial Overview
13.5.3 F5 Networks, Inc.: Product Overview
13.5.4 F5 Networks, Inc.: Key Developments (2015-2020)
13.6 Fireeye, Inc.
13.6.1 Company Overview
13.6.2 Fireeye, Inc.: Financial Overview
13.6.3 Fireeye, Inc.: Product Overview
13.6.4 Fireeye, Inc.: Key Developments (2015-2020)
13.7 Fortinet, Inc.
13.7.1 Company Overview
13.7.2 Fortinet, Inc.: Financial Overview
13.7.3 Fortinet, Inc.: Product Overview
13.7.4 Fortinet, Inc.: Key Developments (2015-2020)
13.8 F-Secure Corporation
13.8.1 Company Overview
13.8.2 F-Secure Corporation: Financial Overview
13.8.3 F-Secure Corporation: Product Overview
13.8.4 F-Secure Corporation: SWOT Analysis
13.8.5 F-Secure Corporation: Key Developments (2015-2020)
13.9 Juniper Networks
13.9.1 Company Overview
13.9.2 Juniper Networks: Financial Overview
13.9.3 Juniper Networks: Product Overview
13.9.4 Juniper Networks: SWOT Analysis
13.9.5 Juniper Networks: Key Developments (2015-2020)
13.10 Micro Focus
13.10.1 Company Overview
13.10.2 Micro Focus: Financial Overview
13.10.3 Micro Focus.: Product Overview
13.10.4 Micro Focus.: Key Developments (2015-2020)
13.11 Microsoft Corporation.
13.11.1 Company Overview
13.11.2 Microsoft Corporation.: Financial Overview
13.11.3 Microsoft Corporation.: Product Overview
13.11.4 Microsoft Corporation.: Key Developments (2015-2020)
13.12 Forcepoint LLC
13.12.1 Company Overview
13.12.2 Forcepoint LLC: Product Overview
13.12.3 Forcepoint LLC: Key Developments (2015-2020)
13.13 Imperva Inc.
13.13.1 Company Overview
13.13.2 Imperva Inc.: Product Overview
13.13.3 Imperva Inc.: Key Developments (2015-2020)
13.14 Mcafee.
13.14.1 Company Overview
13.14.2 Mcafee.: Product Overview
13.14.3 Mcafee.: Key Developments (2015-2020)
14 Appendix
14.1 List of Abbreviation
14.2 Key Related Reports

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Amazon Web Services Inc
  • Check Point Software Technologies
  • Cisco System
  • Cyberark Software Ltd
  • F5 Networks Inc
  • Fireeye Inc
  • Fortinet Inc
  • F-Secure Corporation
  • Juniper Networks
  • Micro Focus
  • Microsoft Corporation
  • Forcepoint LLC
  • Imperva Inc
  • Mcafee