Cybersecurity Market Rise in Demand, Opportunities, Types, Future Analysis and Growth during 2020-2030
Cybersecurity Market: Introduction
- Cybersecurity is the process of protecting networks, systems, and programs from digital attacks. Cyber-attacks are usually aimed at changing, accessing, or destroying sensitive information; extorting money from users; or interrupting normal business processes.
- As the world relies more on technology, cybersecurity plays a crucial role in protecting the digital data of governments and various business.
- Different forms of cybercrimes, such as phishing and hacking have increased rapidly, especially after the increasing use of internet during the COVID-19 quarantine phase, which has led to business interruptions and financial losses around the world.
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Global Cybersecurity Market: Dynamics
Global Cybersecurity Market: Key Drivers and Restraints
- Increase in the frequency and sophistication of cyber-attacks is one of the major factors driving the growth of the cybersecurity market.
- The growing need for advanced cybersecurity among small and large enterprises is likely to be a major triggering factor for the market in the coming years.
- The occurrence of massive cyber-attacks across the world is gradually increasing. Cyber terrorists attack endpoints, data, networks, and other IT infrastructure that leads to huge financial losses to enterprises, individuals, and governments. This in turn is expected to accelerate the growth of the cybersecurity market.
- Leveraging artificial intelligence, machine learning, and Blockchain technologies for cyber defense is projected to create an opportunity for the cybersecurity market.
- However, use of pirated and open source cybersecurity solutions are expected to hamper the growth of the market.
North America to Account for Major Share of the Global Cybersecurity Market
- In terms of region, the global cybersecurity market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America is anticipated to lead the global cybersecurity market, due to adoption of advanced internet security solutions by enterprises. In addition, the significant adoption of internet services and importance of cyberspace in the digital world are the major factors accelerating the growth of the cybersecurity market across the region. Extensive adoption of cybersecurity by several industries, and technological developments across these industries are some of the other key factors anticipated to boost the growth of the market in North America.
- The cybersecurity market in Asia Pacific is expected to garner significant share due to increasing complexities faced by enterprises in implementing network security, coupled with compliance mandates, workforce mobility, and growing cyber-attacks. This in turn is expected to fuel the growth of the cybersecurity market across the Asia Pacific region.
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Global Cybersecurity Market: Competitive Landscape
Key Players Operating in the Global Cybersecurity Market
Local, regional, and international players are present in the cybersecurity market. The market is highly consolidated, with top manufacturers accounting for approximately 25%–30% share. Key players operating in the global cybersecurity market are:
- BAE Systems Plc
- Check Point Software Technologies Ltd.
- Cisco Systems Inc.
- FireEye Inc.
- Fortinet Inc.
- Hewlett Packard Enterprise Development LP
- IBM Corporation
- Intel Corporation
- McAfee LLC
- Microsoft Corporation
- Oracle Corporation
- Symantec Corporation
- Trend Micro Inc.
- In April 2018, IBM Security and McAfee extended their partnership to integrate IBM IRP with Data Exchange Layer (DXL) and provide better protection through automation and intelligence sharing.
- In April 2018, Symantec announced the development of a powerful threat detection technology used by its world-class research teams. Symantec’s Targeted Attack Analytics (TAA) enables advanced threat protection (ATP), thereby helping customers leverage advanced machine learning and discover targeted attacks.
- In January 2018, FireEye acquired X15 Software, a provider of big data and machine learning-based solutions and plans to add X15 Software’s big data and machine learning capabilities to its security tools.
Global Cybersecurity Market: Research Scope
Global Cybersecurity Market Segmentation, by Deployment
- Cloud
- On- premise
Global Cybersecurity Market Segmentation, by Security Type
- Network Security
- Endpoint Security
- Application Security
- Cloud Security
- Others (Content security, ICS security, database security, and web security)
Global Cybersecurity Market Segmentation, by Component
- Solutions
- Threat Intelligence
- Identity and Access Management
- Security and Vulnerability Management
- Risk and Compliance Management
- Unified Threat Management
- Firewall
- Antivirus/ Antimalware
- Others (threat intelligence platforms, SIEM, and incident forensics, etc.)
- Services
- Professional
- Training and Consulting
- Integration and Deployment
- Support and Maintenance
- Managed
Global Cybersecurity Market Segmentation, by Industry
- BFSI
- IT & Telecommunication
- Retail
- Healthcare
- Government
- Manufacturing
- Travel & Transportation
- Energy & Utilities
- Others
Global Cybersecurity Market Segmentation, Enterprise Size
- Large Enterprise
- Small & Medium Enterprise
Global Cybersecurity Market Segmentation, by Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- Germany
- France
- U.K.
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- U.A.E.
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
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