BANGALORE, India, Oct. 23, 2020 /PRNewswire/ -- According to the Latest Market Research Report "Cyber Security Market by Security Type (Application Security and Cloud Security), by Services (Managed Services and Professional Services), by Solution (Distributed Denial of Service (DDoS), Risk and Compliance Management, and Unified Threat Management), by Deployment mode (Cloud and On-premise), by End user (Aerospace and Defense, Healthcare, IT and Telecom, Manufacturing, and Public Sector) and Region – Global Forecast to 2025", published on Valuates Reports.
The Global Cyber Security Market size is expected to grow from USD 158,425.94 Million in 2019 to USD 267,420.59 Million by the end of 2025 at a CAGR of 9.11%.
Major factors driving the growth of cybersecurity market size are an increase in the frequency and complexities of cyber-attacks, stringent data protection regulations for information security, the emergence of disruptive digital technologies like IoT, and a surge in the number of supply chain based attacks exploiting the software supply chain.
The cybersecurity market size is expected to increase due to the integration of technologies like the Internet of Things (IoT), machine learning, and big data in threat and security technique upgradation. Companies operating in the cybersecurity market are shifting from a 'signature-based' malware detection system to 'signature-less' systems that feature technologies such as IoT, machine learning, and big data.
Another trend that's influencing the cybersecurity market size is the rising adoption of cloud-based services in IT securities. Generally, all cybersecurity solutions are based on complex mathematical prediction models and deciphering from large amounts of data. This handling of data and accurate prediction can only be fulfilled with the adoption of cloud-based technology that's backed by Analytics as a Service (AaaS), as it allows users to find and mitigate uncertain security threats.
North America is expected to hold the largest cybersecurity market share during the forecast period. This North America dominance is attributed to high section security breaches and dependency. Also, the evolution of the online e-commerce platform is increasing the market growth rate in North America. Furthermore, the government in the U.S. and Canada are introducing cybersecurity protocols for advanced security measures.
Europe is expected to grow with the highest CAGR in the forecast period due to the rise in cyber projects and related investments made by some major companies in the country like UK, Germany, Spain, Italy, France, etc.
Asia Pacific region is expected to witness a remarkable during the forecast period. Due to its rising demand for location-based services from the entertainment, transportation, and logistics, and education and research sectors. Countries like India, China, and Korea are anticipating an exceptional CAGR in the forecast period due to two factors - an increase in investments by the government and foreign investors in smart city projects.
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