Global Proactive Security Market Set for Massive Progress in the Nearby Future
Market Synopsis
The Global Global Proactive Security Market is Expected to Register a CAGR of 16.4% During The Forecast Period to Reach USD 43.4 billion by 2024.
Small- and medium-sized as well as large enterprises are heavily investing to prevent instances of cyberattacks and data breaches before they happen. Similarly, managed service providers are also focussing on proactively safeguarding data instead of troubleshooting the issues later. The rising adoption of IoT, smart mobile devices and trends like BYOD has increased the number of connected devices in enterprises which gives rise to the need for having a proactive security system in place. A higher number of connected devices leads to vulnerabilities in the IT infrastructure. A large number of enterprises are thus opting for proactive security solutions over reactive security solutions. The increasing number, as well as variety of cyberattacks, has urged the companies to implement proactive security solutions. Also, the rising need to comply with stringent data protection regulations is another factor contributing to market growth. However, the budgetary constraints to deploy proactive cybersecurity solutions are expected to limit market growth during the forecast period. Growing adoption of cloud-based solutions across verticals and the increasing trend of digital transformation of enterprises offer lucrative opportunities to the key providers of proactive security in the global market. The market faces challenge of a limited number of skilled cybersecurity professionals.
Segmentation
The Global Proactive Security Market has been segmented based on component, organization size, vertical, and region/country.
By component, the Global Proactive Security Market has been divided into solutions and services. The solutions segment has been further categorized into security monitoring and orchestration, attack simulation, risk and vulnerability management, security analytics and advanced malware protection. The services segment has been categorized as professional services and managed services.
Based on organization size, the global Global Proactive Security Market has been divided into small- and medium-sized enterprise (SME) and large enterprise.
On the basis of vertical, the global Global Proactive Security Market has been divided into IT and telecommunication, banking, financial services, and insurance (BFSI), healthcare and life sciences, government and defense, retail and e-commerce, energy and utilities, manufacturing, and others.
The global Global Proactive Security Market has been analyzed for four regions—North America, Europe, Asia-Pacific, and the rest of the world.
Key Players
The key players in the Global Proactive Security Market are identified based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. These include IBM Corporation (US), Corvil (Ireland), Altran (France), Cisco Systems Inc. (US), Palo Alto Networks, Inc. (US), Securonix, Inc. (US), LogRhythm, Inc. (Netherlands), Rapid7 ( US), Symantec Corporation (US), FireEye, Inc. (US), McAfee, LLC (US), CyArx Technologies LTD (US), Oracle Corporation (US), AT&T (US), and FUJITSU (Japan). The key strategies adopted by most of the players are partnerships, agreements, and collaborations.
The other players in the Global Proactive Security Market are Skybox Security, Inc. (US), Splunk Inc. (US), Swimlane LLC. (US), Centrify Corporation (US), ThreatConnect Inc. (US), DEMISTO (US), RSA Security LLC. (US), FireMon, LLC. (US), CyberSponse, Inc. (US), Trustwave Holdings, Inc. (US), Qualys, Inc. (US) and others.
Regional Analysis
The Global Global Proactive Security Market is estimated to grow at a CAGR of 16.4% during the forecast period from 2019 to 2024. The geographic analysis of the global Global Proactive Security Market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.
North America accounted for the highest market share, owing to the strategic shift of enterprises towards proactive security solutions due to increasing sophistication of cyber attacks. The US leads the market in North America owing to the early adoption of cybersecurity solutions and initiatives by key players in the form of partnerships with different technology players for product enhancement. Prevention of increasing security attacks and breaches act as a driving force for the growth of the market.
Europe is expected to be the second-largest market during the review period due to the rising need among enterprises to maintain the confidentiality of data and comply with stringent regulations. Asia-Pacific is anticipated to be the fastest growing market in the global Global Proactive Security Market during the forecast period. The rise in the adoption of proactive security services among SMEs and large enterprises and growing adoption of cloud-based security solutions are the key drivers for the growth of the Global Proactive Security Market in Asia-Pacific.
Competitive Analysis
The Global Proactive Security Market has witnessed a high demand globally due to the rise in demand from industries such as BFSI, government and IT and telecommunication. Major players have opted for partnerships and new product development as their key organic growth strategies to strengthen their position in the market and cater to the demands of enterprises across verticals. For instance, in February 2019, Trustwave Holdings, Inc. (US) launched a proactive threat hunting service particularly for the government sector; the service strengthens government agencies' cyber defenses, letting them prevent an attack by detecting cybersecurity threats sooner.
Intended Audience
· Cybersecurity vendors
· Information security consultants
· Security system integrators
· Managed Security Service Providers (MSSPs)
· Independent software vendors
· Proactive security vendors
· Cloud services providers
· Distributors and Value-Added Resellers (VARs)
· Investors and venture capitalists
· Compliance officers
· Regulators
· Chief Financial Officers
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LIST OF TABLES
Table 1 Global Global Proactive Security Market, By Region, 2019–2024
Table 2 North America: Global Global Proactive Security Market, By Country, 2019–2024
Table 3 Europe: Global Global Proactive Security Market, By Country, 2019–2024
Table 4 Asia-Pacific: Global Global Proactive Security Market, By Country, 2019–2024
Table 5 Rest Of The World: Global Global Proactive Security Market, By Country, 2019–2024
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LIST OF FIGURES
FIGURE 1 Global Global Proactive Security Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Global Proactive Security Market
FIGURE 4 Value Chain/Supply Chain Of Global Global Proactive Security Market
FIGURE 5 Share Of The Global Global Proactive Security Market In 2019, By Country (In %)
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