Global Cybersecurity Market, By Component (Solution, Service), Security Type (Network Security, Endpoint Security, Application Security, Cloud Security and Others), Deployment Type (On-Premises and Cloud), Organization Size (SMEs, Large Enterprise), Vertical (BFSI, Government and Defense, Energy and Utilities, Healthcare, IT and Telecom, Manufacturing, Retail and Others) – Industry Trends and Forecast to 2029.
Global Cybersecurity Market Analysis and Size
The security solutions are being highly deployed for private financial and banking services sectors, along with aerospace defense and healthcare sectors. The increase in the demand for cyber-savvy boards is escalating the growth of cybersecurity market.
- Global Cybersecurity Market was valued at USD 217.90 billion in 2021 and is expected to reach USD 551.18 billion by 2029, registering a CAGR of 12.30% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Global Cybersecurity Market Definition
Cybersecurity solutions refer to the solutions that assist organizations in detecting, monitoring, reporting and countering cyber threats for maintaining data confidentiality. Safeguarding devices connected to the internet are categorised under cyber security that help in protecting from various threats in the cyberspace.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Component (Solution, Service), Security Type (Network Security, Endpoint Security, Application Security, Cloud Security and Others), Deployment Type (On-Premises and Cloud), Organization Size (SMEs, Large Enterprise), Vertical (BFSI, Government and Defense, Energy and Utilities, Healthcare, IT and Telecom, Manufacturing, Retail and Others)
U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium, Rest of Europe, Japan, China, South Korea, India, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Israel, U.A.E., Saudi Arabia, Egypt, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America
Market Players Covered
IBM (US), Check Point Software Technologies Ltd. (Israel), Cisco (US), CyberArk Software Ltd. (US), F5 Inc (US), FireEye (US), Forcepoint (US), Fortinet Inc (US), Amazon Web Services (US), Oracle (US), Palo Alto Networks (US), Imperva (US), Qualys Inc (US), Accenture (Ireland), HCL Technologies Limited. (India), Capgemini (France), cognizant (US), Symantec Corporation (US), Broadcom (US), and Wipro Limited (India), among others
Cybersecurity Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Internet Penetration
The rise in the internet penetration among developing and developed countries acts as one of the major factors driving the growth of cybersecurity market.
- Target–Based Cyber Attacks
The surge in the number of frequency and sophistication of target–based cyber-attacks accelerate the market growth.
- Use of a Variety of Technologies
The increase in the use of a variety of technologies in the industries, such as banking, manufacturing, retail, and telecom, among others further influence the market.
Furthermore, increase in incidents of cybercrimes extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, increase in the need for cloud–based cybersecurity solutions among SMEs will further expand the market.
Restraints/Challenges Global Cybersecurity Market
On the other hand, budgetary constraints among small and emerging startups in developing economies are expected to obstruct market growth. Also, design and implementation difficulties in deploying cybersecurity solutions are projected to challenge the cybersecurity market in the forecast period of 2022-2029.
This cybersecurity market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on cybersecurity market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Cybersecurity Market
The working environment have become more vulnerable to cyber-attacks owing the rapid transition to ‘work from home’ setups during the pandemic. Organizations were compelled to adopt work from home policies for preventing the spread of COVID-19. Remote working increases the threat of various cyber-attacks, such as spear phishing, Man-in-the-Middle (MITM) attacks and intrusions. The surge in the number of smartphone users and internet penetration is rising the spear phishing attacks.
- IBM Security announced a new and enhanced service in March’2021. The service aims to help organizations in managing their policies, cloud security strategies, and controls across hybrid cloud environments.
Global X-Ray Detectors Market Scope and Market Size
The cybersecurity market is segmented on the basis of component, security type, deployment, organization size and vertical. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
On the basis of component, the cybersecurity market is segmented into solution and service. The solution is further sub-segmented into threat intelligence and encryption, data loss prevention, unified threat management, firewall, antivirus, intrusion detection systems, disaster recovery, distributed denial of service mitigation, web filtering. Threat intelligence is sub-segmented into identity and access management, security and vulnerability management, risk and compliance management and others. Data loss prevention is sub-segmented into network Dlp, Storage Dlp and endpoint Dlp. Intrusion detection systems is sub-segmented into network-based, host-based and wireless. The service is further sub-segmented into professional and managed security services. Professional services are sub-segmented into design and integration, risk and threat assessment, consulting, training and education and support and maintenance.
- Network Security
- Endpoint Security
- Application Security
- Cloud Security
On the basis of security type, cybersecurity market is segmented into network security, endpoint security, application security, cloud security and others.
On the basis of deployment, cybersecurity market is segmented into on-premises and cloud.
- Large Enterprises
On the basis of organization size, cybersecurity market is segmented into SMEs and large enterprises.
- Government and Defense
- Energy and Utilities
- IT and Telecom
Based on vertical, cybersecurity market is segmented into BFSI, government and defense, energy and utilities, healthcare, IT and telecom, manufacturing, retail and others.
Cybersecurity Market Regional Analysis/Insights
The cybersecurity market is analysed and market size insights and trends are provided by country, component, security type, deployment, organization size and vertical as referenced above.
The countries covered in the cybersecurity market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium, Rest of Europe, Japan, China, South Korea, India, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Israel, U.A.E., Saudi Arabia, Egypt, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.
North America dominates the cybersecurity market because of the presence of prominent security vendors within the region.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the development of a strong cyber defense ecosystem in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Cybersecurity Market Share Analysis
The cybersecurity market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cybersecurity market.
Some of the major players operating in the cybersecurity market are:
- IBM (US)
- Check Point Software Technologies Ltd. (Israel)
- Cisco (US)
- CyberArk Software Ltd. (US)
- F5 Inc (US)
- FireEye (US)
- Forcepoint (US)
- Fortinet Inc (US)
- Amazon Web Services (US)
- Oracle (US)
- Palo Alto Networks (US)
- Imperva (US)
- Qualys Inc (US)
- Accenture (Ireland)
- HCL Technologies Limited (India)
- Capgemini (France)
- Cognizant (US)
- Symantec Corporation (US)
- Broadcom (US)
- Wipro Limited (India)
Research Methodology : Global Cybersecurity Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-cybersecurity-market