Global Cyber security Market, By Component (Solution, Service), By Solution (Threat Intelligence, Identity and Access Management, Security and Vulnerability Management, Risk and Compliance Management, Encryption, Data Loss Prevention, Network DLP, Storage/ Data Center DLP, Endpoint DLP, Unified Threat Management, Firewall, Antivirus/ Anti Malware, Intrusion Detection Systems/ Intrusion Prevention Systems, Network-based, Host-based, Wireless, Disaster Recovery, Distributed Denial of Service, Web Filtering, and Others (Other solutions include application whitelisting and patch management), By Service (Professional Services, Design and Integration, Risk and Threat Assessment, Consulting, Training and Education, Support and Maintenance, and Managed Security Services), By Security Type (Network Security, Endpoint Security, Application Security, Cloud Security, and Others (Other security types include content security, ICS security, database security, and web security), By Deployment (on-premises and cloud), By Organisation Size (SMEs and large enterprises), By Vertices (BFSI, Government and Defense, Energy and Utilities, Healthcare, IT and Telecom, Manufacturing, Retail, Others (Other verticals include education, media & entertainment, and transportation & logistics)), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global cyber security market was valued US$ 172.4 Bn at the end of 2020 and expected to reach at a value of US$ 488.2 Bn by 2028 with a significant CAGR of 13.9%.
The Internet is one of the most significant discoveries of the 21st century which have touched and stirred our lives enormously. In the present day and times, the internet has passed overreach and every hindrance and has completely modified the way we used to work, talk, play games, greet friends on occasions or make new friends, shop, watch movies, listen to music, pay bills, order food, and everything and anything, and there is an application at fingertips for that.
People’s reliance on the computer devices and other internet supported devices has increased like greased lightning. Attributing to which, cyber crimes also started taking its toll over the world of the internet. Against the battle from cyber crimes, cyber security originated which is often referred to as IT security that focuses on protecting networks, computers, data, and programs from spontaneous or unlicensed access. It consists of application security, network security, identity management, endpoint security, cloud security, data security, and infrastructure security.
The increasing count of cyber threats at a worrying rate across the world and associated rising demand of security solutions among the population is majorly estimated to boost the growth of the global cyber security market in the forthcoming future.
In the same manner, the propelling demand of enterprise security solutions from various vertices across the world, including BFSI, Healthcare, Education, IT and others, is further playing a positive role in fueling the growth of the global cyber security market in the near future.
MMC Study identifies some of the key participating players in the cyber security market globally are IBM Corporation, Symantec, Check Point Software Technologies, Cisco Systems, Trend Micro, Sophos, Rapid7, McAfee, Micro Focus, Microsoft, Imperva, Splunk, F5 Networks, Proofpoint, RSA Security, AWS, Juniper Networks, Oracle, Fortinet, Palo Alto Networks, Cyberark, Forcepoint, Fireeye, F-Secure, and Qualys, among others.
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