The global market for Cyber Security is expected to register a CAGR of more than 14.9% during the forecast period 2022-2027.
Cyber-attacks are on the rise, thanks to the rise of e-commerce platforms, cloud deployment, and the proliferation of smart devices, to name a few drivers driving market expansion. With the increased use of devices with intelligent and IoT technology, cyber dangers are expected to evolve. As a result, businesses are likely to adopt and install advanced cyber security solutions to identify, mitigate, and minimise the risk of cyber-attacks, resulting in market growth.
Due to the closure of various firms in the first and second quarters of 2020, cyber security took a modest hit in 2020. However, by the end of the second quarter, the industry had begun to rebound as a result of several companies installing cyber security solutions in conjunction with the adoption of a remote working culture. Employees used personal devices for business purposes while connected via private Wi-Fi or anonymous networks, jeopardising the company's security. As a result, numerous firms have implemented cyber security solutions to manage and safeguard the growing number of endpoint devices while simultaneously providing network threat protection.
The Cyber Security Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end users. The three dependencies for the status of major companies in the market are: company profile, profitable gross margin, the prices they charge. These are the main players in this market Cisco, Palo Alto Networks, Fortinet, Check Point, Broadcom (Symantec), Deloitte, EY, PwC, KPMG, IBM, Venustech Group, NSFOCUS, DBAPPSECURITY, Sangfor Technologies, Hangzhou DPtech Technology, Hillstone, QIANXIN, Meiya Pico, TOPSEC, H3C, Beijing Leadsec Technology, Asiainfo-Sec and others.
Recent Developments
July 2021 - Check Point Software Technologies announced its sponsorship to The Smart Factory at Wichita, which is Deloitte’s new industry 4.0 immersive experience center, identifying the need for cyber security as a core component to any smart factory; the sponsorship will allow Check Point’s customer to experience the advanced technologies and manufacturing methods in digital transformation with security.
June 2021 - Check Point Software Technologies launched its automated, unified cloud workload protection, which increases the capabilities of its unified cloud-native security platform; this empowers the security teams with tools for microservices, Application Programming Interfaces (APIs), and automation in security across applications through a single interface.
Cyber Security Market is segmented based on the type, applications, companies and regions.
By Type, it is segmented into
By Applications it is segmented into
Over the projected period, Asia Pacific is expected to grow at the quickest rate, with a CAGR of more than 15.2 percent. The high deployment of cloud technologies, the proliferation of IoT devices, and the growing number of data center constructions are all contributing to the region's growth. Furthermore, because the region's huge working population has a big number of endpoint devices and creates a large volume of data, several firms are installing cyber security solutions. Furthermore, rising government and defense spending in nations such as China, India, Japan, South Korea, and others to protect themselves from cyber warfare is predicted to propel market expansion.
The Cyber Security Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Cyber Security Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
Report Attributes | Report Details |
Forecast Period 2022 to 2027 CAGR | CAGR of 14.9% over the forecast period (2022-2027) |
By Type |
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By Application |
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By Companies | Cisco, Palo Alto Networks, Fortinet, Check Point, Broadcom (Symantec), Deloitte, EY, PwC, KPMG, IBM, Venustech Group, NSFOCUS, DBAPPSECURITY, Sangfor Technologies, Hangzhou DPtech Technology, Hillstone, QIANXIN, Meiya Pico, TOPSEC, H3C, Beijing Leadsec Technology, Asiainfo-Sec |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 155 |
Customization Available | Yes, the report can be customized as per your needs |
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Who are the key players in Cyber Security Market?
Cisco, Palo Alto Networks, Fortinet, Check Point, Broadcom (Symantec), Deloitte, EY, PwC, KPMG, IBM, Venustech Group, NSFOCUS, DBAPPSECURITY, Sangfor Technologies, Hangzhou DPtech Technology, Hillstone, QIANXIN, Meiya Pico, TOPSEC, H3C, Beijing Leadsec Technology, Asiainfo-Sec
What regions does this Cyber Security Market report cover?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Cyber Security Market?
On-premise, Cloud-based, Others
What are the major end-use applications of the Cyber Security Market?
SMBs, Large Enterprises, Others
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SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
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REPORT WRITING/ PRESENTATION
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