Cybersecurity Services and Solutions Market Size is Projected to Reach USD 258.99 Billion by 2025 - Valuates Reports

BANGALORE, India, June 22, 2020 /PRNewswire/ -- The cybersecurity market size was valued at USD 104.60 Billion in 2017 and is projected to reach USD 258.99 Billion by 2025, growing at a CAGR of 11.9% from 2018 to 2025. 

Cybersecurity refers to the practice of ensuring the integrity, confidentiality, and availability (ICA) of information. Cybersecurity consists of an evolving set of tools, risk management approaches, technologies, training, and best practices designed to protect networks, devices, programs, and data from attacks or unauthorized access.

The growth of the cybersecurity industry is driven by factors such as the increase of malware and phishing threats and the increase of IoT and BYOD trends between organizations.

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TRENDS INFLUENCING THE GROWTH OF CYBERSECURITY MARKET SIZE

The recent IoT and BYOD developments among enterprises have increased the risk of advanced persistent threats (APTs) to devices and applications. Therefore, it is difficult for IT managers to monitor and track data flows in different systems. Organizations are increasingly utilizing cybersecurity technologies to counter such situations. This growing need for strong authentication techniques is expected to increase the growth of the cybersecurity market size during the forecast period.

The priority of each organization has further shifted to cybersecurity as each adapts to a post-COVID 19 world. The change in work style with remote workers and devices calls for a new safety perimeter, which is expected to boost the cybersecurity market during the forecast period.

With multiple organizations increasingly digitizing the workflow, there is a huge surge in digital data. Sharing of data in both an external and an internal environment and around the globe has made organizations susceptible to cybercrimes. A successful online attack will damage the business and its brand. This can lead to loss of competitive advantage and a serious financial loss. This increase in digital data and cybercrimes is, in turn, expected to increase the cybersecurity market size.

Due to the implementation of cloud-based mode by organizations to combine supplementary infrastructure technologies such as software-defined perimeters, cloud-based cybersecurity solutions are expected to grow rapidly during the forecast period. This, in turn, is expected to increase the cybersecurity market size. 

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CYBERSECURITY MARKET SHARE ANALYSIS

• The solutions sector dominated the cybersecurity market in 2017. Due to the increasing need to monitor external and internal threats for large and small businesses, this segment is expected to remain dominant during the forecast period.
• During the forecast period, the cloud segment is expected to show substantial growth in the cybersecurity industry. The growth of the segment comes mainly from the low maintenance costs, which is preferred by small and medium-sized.
• BFSI dominated the market as a whole and is projected to show strong growth during the forecast period as well. The growth in this sector is mainly due to the increased need in financial institutions for security and digital privacy. In addition, the rise in adoption of smartphones, internet banking, and cloud are fuelling the cybersecurity market growth in this sector.
• Based on the region, North America holds the largest cybersecurity market share during the forecast period. This dominance can be attributed to the presence of leading security providers with global and regional headquarters in the USA. In addition, the growing expenditure of large companies and SMEs on safety solutions and services is another factor propelling market growth.
• Asia Pacific is expected to grow at the highest CAGR. Increased efforts to ensure endpoints, networks, and cloud infrastructure are expected to help the Asia-Pacific market growth.

KEY MARKET SEGMENTS

 The cyber security market is segmented on the basis of solutions, services, deployment type, user type, industry verticals, and geography.

BY SOLUTIONS

• Risk and compliance management
• Unified threat management (UTM)
• Security incident management
• Identity and access management (IAM)
• Encryption
• Intrusion prevention systems
• Others (disaster recovery, vulnerability assessment, and social media control).

BY SERVICES

• Professional services
• Managed services.

BY DEPLOYMENT TYPE

• Cloud
• On-premises.

BY USER TYPE

• Large enterprises
• Small and medium enterprises (SMEs).

BY INDUSTRY VERTICAL

• Aerospace and defense
• BFSI
• Public sector
• Retail
• Healthcare
• IT and telecom
• Energy and utilities
• Manufacturing
• Others (automotive, education, and media and entertainment).

BY GEOGRAPHY

North America

• U.S.
• Canada
• Mexico

Europe

• U.K.
• Germany
• France
• Russia
• Rest of Europe

Asia-Pacific

• Australia
• Japan
• China
• India
• Rest of Asia-Pacific

LAMEA

• Latin America
• Middle East
• Africa

KEY MARKET PLAYERS PROFILED IN THE REPORT

• Cisco Systems
• IBM Corporation
• Intel Corporation
• Symantec Corporation
• HPE
• Trend Micro
• FireEye
• Sophos
• Verizon Communications
• Dell EMC (RSA Security)
• Others.

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OTHER COMPANIES MENTIONED IN THE REPORT

Cato Networks, Fireglass, A10 Networks, Palo Alto Networks, Check Point Software Technologies, Forescout Technologies, Rapid7, Zimperium, Linoma Software, InsideSecure, Coresec, and SecuEra Technologies.

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SIMILAR REPORTS

●  Automotive Cyber Security Market Report

 The Gl obal Automotive Cyber Security Market size is expected to grow from USD 1935.64 Millions in 2018 to USD 7145.84 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 20.51%.

Autonomous vehicles are gaining an unprecedented amount of traction. Corporations like Mercedes, Ford Motors, and Tesla are heavily investing in R&D to revolutionize the traditional driving method. The growth of Autonomous vehicles provides cloud providers, operators, and other stakeholders with unparalleled opportunities to work together and partner with automotive companies to promote this growth.

The introduction of Autonomous vehicles will increase cybersecurity threats and therefore drive Autonomous cybersecurity market size.

View Full Report: https://reports.valuates.com/market-reports/360I-Auto-4V34/global-automotive-cyber-security

●  Healthcare Cyber Security Market Report

The global Healthcare Cyber Security Market size was valued at USD 4,591 Million in 2016 and is projected to reach USD 12,467 Million by 2023, with a CAGR of 15.6% from 2017 to 2023.

Factors such as government regulations and initiatives aimed at protecting patient information against data infringements, increasing the incidence of cyberattacks, and growing demand for cloud services are expected to increase the healthcare cybersecurity market size.

 The lack of skilled professionals, however, restricts the market growth to some degree.

View Full Report: https://reports.valuates.com/market-reports/ALLI-Auto-1J168/healthcare-cyber-security

●  Network Security Market Report

The Network Security Market addresses both active and passive attacks to ensure system reliability and safety.

Cisco, McAfee, and Juniper Networks are major players in this market. Their services help in securing the network in a holistic manner.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-2W291/network-security

●   Industrial Cybersecurity Market

Industrial cybersecurity services are created to protect industrial environments against cyber threats at all levels. Cybersecurity for the industrial sector is a dynamic and growing area of focus.

This includes industrial control systems, software, hardware, and network security solutions. These cybersecurity solutions have been designed to operate machinery and plants securely in the industry. Increased implementation of cloud security solutions; increased IoT adoption in industrial control systems; an increasing number of incidents related to cybercrime in different end-use industries are some of the major factors that are expected to increase the Industrial Cybersecurity Market Size.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-14N2387/global-industrial-cyber-security

●  COVID-19 Impact on IT Security Market Report

The increasing use of mobile devices and cloud servers to store sensitive data and the subsequent rise in technologically sophisticated cybercriminals threatening to steal that data has accelerated growth in the IT Security Consulting industry. 

The COVID -19 pandemic has spread to nearly 100 countries across the globe since the outbreak in December 2019. The global impacts of the 2019 coronavirus disease (COVID- 19) are already starting to be felt and will affect the IT Security Market size significantly in 2020.

 View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-3T261/it-security

●  COVID-19 Impact on Global Aviation Cyber Security Market Report

The COVID -19 pandemic has spread to nearly 100 countries across the globe since the outbreak in December 2019. The global impacts of the 2019 coronavirus disease (COVID- 19) are already starting to be felt and will affect the Aviation Cyber Security Market size significantly in 2020.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-2B302/aviation-cyber-security

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