Cybersecurity Market to Witness a Massive Growth | CAGR 11.21 % over the forecast period 2019-2026

Global Cybersecurity Market is valued approximately USD 169 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.21 % over the forecast period 2019-2026. Cybersecurity is the protection of the computer systems from theft or damage of their hardware, software and other electronic data. With the rising dependency on computer systems, internet and wireless connection the need for cyber security is increasing. As it ensures data privacy and avoids any loss from theft of data or damage of hardware. Hence the rising penetration of connected devices has changed the life style with most of the data available online. This drives the market for cyber security. Also, increasing consumer awareness and rise in inclination towards data privacy and security fuels the market growth. Further, the rising instances of cyber attacks, where cyber terrorists attacks networks, IT infrastructure and data leading to huge financial losses to individuals, enterprises and governments.