Global Cyber Security Market Overview:
Cybersecurity refers to the technique used for technology security such as protecting the computer, networks attacks that are aimed for exploitation and unauthorized access. It helps in maintaining sensitive information of an organization, especially in transferring data through networks. There are various types of cybersecurity threat such as ransomware, malware, phishing, and data breach. The main aim of cybersecurity is to provide security against financial data, personal data and intellectual property and so on. Hence this cybersecurity is gaining attraction in the market. Some of the key players profiled in the study are IBM Corporation (United States), Hewlett Packard Enterprise (United States), McAfee LLC (United States), Trend Micro Inc. (Japan), Symantec Corporation (United States), Check Point Software Technologies Ltd. (Israel), Cisco Systems Inc. (United States), Palo Alto Networks Inc. (United States), Juniper Networks Inc. (United States), Fortinet Inc. (United States), FireEye Inc. (United States), Sophos Ltd. (United Kingdom), Rapid7 Inc. (United States) and EMC RSA (United States). According to Market Analyst at AMA, the Global Cyber Security market may see a growth rate of 12.48% and would reach the market size of USD355.74 Billion by 2025.
On the basis of geography, the market of Cyber Security has been segmented into Americas (North America, South America), North America (United States, Canada, Mexico), Asia Pacific (China, Japan, India, South Korea, Taiwan, Rest of Asia-Pacific), Europe (Germany, France, Italy, UK, Netherlands, Rest of Europe), MEA (Middle East, Africa). North America region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Industry Vertical, the sub-segment i.e. Aerospace and Defense will boost the Cyber Security market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service, the sub-segment i.e. Professional Services will boost the Cyber Security market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. Cloud will boost the Cyber Security market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organisation Size, the sub-segment i.e. Small and Medium Enterprise will boost the Cyber Security market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Solution, the sub-segment i.e. Identity and Access Management (IAM) will boost the Cyber Security market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Constant Increase in Cyber Terrorism
- Growing Advanced Digital Devices Fuelled by Emergence of IoT
- Stringent Government Regulations for Information Security
- Rapid Adoption of Cloud-Based Services & Wireless Communication
- Adoption of More Sophisticated Security Technologies and Operationalizing GDPR
- Maximizing Attacks Through Theft of Bio-metric Data
- Use of Pirated Cyber-security Solutions
- Limited Security Budgets and Difficulty Associated with Deployment of Cyber Security Tools
- Rise in E-commerce Penetration Across Industry Verticals
- Demand For AI, Machine Learning and Block Chain Technologies
- High Cost Associated with Cyber Security Tools
- Growing Cyber Threat Owing to 5G Deployment
- Growing Software-as-a-Service (SaaS) Deployment and Over-dependency on Cloud
Major Market Developments:
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. Additionally, In April 2018, Palo Alto Networks acquired Secdo, an Israel-based incidence response solution provider. With this acquisition, the company integrates its security operating platform with Secdoís endpoint detection and response capabilities to offer rapid detection and response services to enterprises.
In April 2018, Symantec announced the development of a powerful threat detection technology, which was used by its world-class research teams. Symantecís Targeted Attack Analytics (TAA) enables ATP, thereby helping customers leverage advanced machine learning and discover targeted attacks.
California Consumer Privacy Act (CCPA) is passing a law for the protection of data in the United States which will be effective by January 2020. It is expected to be the countryís highest commendable security and privacy law. Also, SEC is taking risk prohibiting steps to overcome breaches in financial sectors specific to public listed companies to increase risk assurance. European Union laws (GDPR) is taking important measures to protect data privacy and is expected to impact ~4% of global annual sales.
Government Agencies, Cybersecurity Vendors, Network Solution Providers, Independent Software Vendors, Consulting Firms, System Integrators, Value-Added Resellers, IT Security Agencies and Managed Security Service Providers (MSSPs)
Major Objectives Focused through this Study
To define, describe, and forecast the Global Cyber Security market on the basis of product [Enterprise Security, Network Security, Endpoint Security, Application Security, Cloud Security and Others] , application , key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Cyber Security market with respect to major geographies, namely, Americas (North America, South America), North America (United States, Canada, Mexico), Asia Pacific (China, Japan, India, South Korea, Taiwan, Rest of Asia-Pacific), Europe (Germany, France, Italy, UK, Netherlands, Rest of Europe), MEA (Middle East, Africa)
To strategically profile the key players and analyzing their market shares and core competencies in the Cyber Security industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Optiv Security Inc. (United States), Webroot, Inc. (United States), CyberArk Software Ltd. (United States), Qualys, Inc. (United States), F-Secure (Finland), Trustwave Holdings Inc. (United States), Proofpoint Inc. (United States), Splunk Inc. (United States) and Kaspersky Lab (Russia).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Cyber Security market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.