GAITHERSBURG, Maryland, May 28, 2020 /PRNewswire/ -- According to Stratistics MRC, the Global Cybersecurity market is accounted for $152.71 billion in 2018 and is expected to reach $430.33 billion by 2027 growing at a CAGR of 12.2% during the forecast period.
Some of the key players in Cybersecurity Market include Intel Corporation, IBM, Microsoft, Google, McAfee LLC, Cisco, Sophos Ltd, Check Point Software Technologies Ltd, FireEye Inc, Trend Micro Incorporated, Imperva, Symantec Corporation, Micro Focus, and Rapid7.
Some of the key factors propelling the market growth are increasing acceptance of Internet of Things, technological advancements, and high demand for cloud solutions. However, insufficient number of expert workforce is the restraining factor for the growth of the market.
Cybersecurity is the protection of computer systems and networks from the theft of or damage to their hardware, software, or electronic data, as well as from the disruption or misdirection of the services provided by them.
By deployment, the cloud segment is expected to grow at a significant market share during the forecast period. The growth of this segment is mainly attributed to low cost of maintenance, which mainly attracts the small & medium enterprises. Also, they do not require purchase, installation and maintenance of hardware or software.
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