At 10.1% CAGR of Global Cyber Security Market Size to Report Spectacular Growth, Revenue to Hit US$210 Billion by 2028 - Zion Market Research
NEW YORK, April 21, 2022 /PRNewswire/ -- As per Zion Market Research study, Cyber security industry accrued ROI of approximately around US$ 139 billion in 2021 and is set to gain income of almost US$ 210 billion in 2028. In addition to this, Cyber security Market is estimated to register highest gains of nearly 10.1% in period of 2022 to 2028. Moreover, Cyber security market is anticipated to gain traction over forthcoming years subject to rise in cyber-attacks with a view of damaging or stealing key information along with stalling business processes. With rise in cybercrimes, cyber terrorism, hacking, and online frauds, deployment of cyber security tools has become need of an hour for every small & big firm. Increase in infiltration of network infrastructure targets and surge in malware attacks as well as cyber wars have resulted in humungous demand for strong cyber security. This has driven expansion of Cyber security market. Strict data protection law enforcement by various firms and evolution of disruptive online systems prone to cyber-attacks has prompted need for cyber security, thereby boosting market growth.
Key Industry Insights & Finding of the Cyber Security Market Reports:
- As per the analysis shared by our research analyst, the Cyber Security Market is expected to grow annually at a CAGR of around 10.1% (2022-2028).
- Through the primary research, it was established that the Cyber Security Market was valued approximately USD 139 Billion in 2021 and is projected to reach to roughly USD 210 Billion by 2028.
- North America over forecasting timeframe is subject to rise in high section security breaches leading to humungous demand for cloud application security solutions in countries such as Canada and the U.S.
- Rise in need for cloud security has resulted in massive necessity of cyber security technologies, thereby boosting cyber security market trends.
Zion Market Research published the latest report titled as "Cyber Security Market – By Security Type (Network Security, Cloud Security, Wireless Security, And Others), By Solution (Identity And Access Management (IAM), Encryption, Risk And Compliance Management, Data Loss Prevention, Antivirus & Antimalware, Firewall, And Others), And By Vertical (Aerospace, Government, Financial Services, Telecommunication, Healthcare, And Others): Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends And Forecast, 2022 – 2028." into their research database.
Cyber Security Market: Overview
Cyber security is the use of technologies, processes, and controls for protecting networks, devices, and confidential data from cyber-attacks. Furthermore, cyber security tools also protect computer system against theft, information disclosure, and software & hardware damage as well as disruption of electronic information in coded format. Moreover, there are various kinds of cyber threats including malware, formjacking, backdoors, cryptojacking, DNS poisoning attacks, and DDoS attacks. Hence, to counter such cyber-attacks, strong cyber security has become a need of the moment.
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Industry Dynamics:
Cyber Security Market: Growth Dynamics
- Focusing on introducing robust security solutions for safeguarding industrial functions along with combating cyber terrorism.
Rise in cybercrimes over last few years has led to massive financial losses for business, thereby boosting demand for cyber security systems. Additionally, rise in use of e-commerce tools and breakthroughs in disruptive technologies including AI and connected things has resulted in surge of cyber-crimes that can take undue advantage of weak cyber-security. Hence, need for strong cyber-security due to growing cyber security concerns will drive market trends. In addition to this, rise in need for cloud security has resulted in massive necessity of cyber security technologies, thereby boosting cyber security market trends.
Furthermore, rapid expansion of security services in healthcare, manufacturing, and government sectors will proliferate size of cyber security market. In addition to this, key players are focusing on introducing robust security solutions for safeguarding industrial functions along with combating cyber terrorism. This will promulgate scope of cyber security market growth. Citing an instance, in December 2020, IBM Corporation introduced IBM security X-Force for determining cyber-attacks. Apart from this, the firm introduced phishing campaign across nearly six countries.
Cyber Security Market: Segmentation
- Government Sector To Contribute Largest Share To Cyber security Market In 2022-2028
Segmental surge over forecasting time interval is due to massive cyber threats & cyber-attacks on government organizations & public utilities. Apart from this, new technologies, supply chain, and encrypted tools used by government agencies are also susceptible to cyber-attacks and hence has resulted in large-scale use of Cyber security systems in government organizations.
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Cloud Security Segment To Record Highest CAGR In 2022-2028
Growth of cloud security segment in ensuing years is owing to rising acceptance of cloud-based security solutions by firms. Moreover, data leaks related to cloud services will further prompt segmental growth. Apart from this, increase in malware infiltration risks and data breach issues linked with use of cloud services will proliferate size of cloud security segment over years ahead. Additionally, massive requirement of increasing filtering of web traffic accessing media contents will proliferate expansion of cloud security segment in ensuing years.
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List of Key Players of Cyber Security Market:
- McAfee Corp.
- Symantec Corporation
- Zscaler Inc.
- Microsoft Corporation
- Booz Allen Hamilton Holding Corporation
- Sophos Ltd.
- IBM Corporation
- Northrop Grumman Corporation
- Palo Alto Networks Inc.
- Broadcom Inc.
- Fortinet Inc.
- Cisco Systems Inc.
Key questions answered in this report:
- What are the growth rate forecast and market size for Cyber Security Market ?
- What are the key driving factors propelling the Cyber Security Market forward?
- What are the most important companies in the Cyber Security Market Industry?
- What segments does the Cyber Security Market cover?
- How can I receive a free copy of the Cyber Security Market sample report and company profiles?
Report Scope:
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Regional Dominance:
- North America Cyber Security Market To Expand Leaps & Bounds By 2028
Growth of cyber security market in North America over forecasting timeframe is subject to rise in high section security breaches leading to humungous demand for cloud application security solutions in countries such as Canada and the U.S. Rise in online e-commerce tools will provide impetus to expansion of cyber security market in North America. Reportedly, regional government executes modern network security protocols for providing improved secured measures for firms.
Global Cyber Security Market is segmented as follows:
Cyber Security Market: By Security Type Outlook (2022-2028)
- Network Security
- Cloud Security
- Wireless Security
- Others
Cyber Security Market : By Solution Outlook (2022-2028)
- Identity And Access Management (IAM)
- Encryption
- Risk And Compliance Management
- Data Loss Prevention
- Antivirus & Antimalware
- Firewall
- Others
Cyber Security Market : By Vertical Outlook (2022-2028)
- Aerospace
- Government
- Financial Services
- Telecommunication
- Healthcare
- Others
Cyber Security Market : By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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