DUBLIN, Aug. 9, 2021 /PRNewswire/ — The “Cyber Security – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Cyber Security Market to Reach $296.5 Billion by 2027
Amid the COVID-19 crisis, the global market for Cyber Security estimated at US$162.9 Billion in the year 2020, is projected to reach a revised size of US$296.5 Billion by 2027, growing at a CAGR of 8.9% over the analysis period 2020-2027.
Endpoint Security, one of the segments analyzed in the report, is projected to record a 10.4% CAGR and reach US$100.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Network Security segment is readjusted to a revised 9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $44 Billion, While China is Forecast to Grow at 13.4% CAGR
The Cyber Security market in the U.S. is estimated at US$44 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$70 Billion by the year 2027 trailing a CAGR of 13.6% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.8% and 7.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.8% CAGR.
Cloud Security Segment to Record 8.3% CAGR
In the global Cloud Security segment, USA, Canada, Japan, China and Europe will drive the 7.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$24.3 Billion in the year 2020 will reach a projected size of US$40.9 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$41.4 Billion by the year 2027, while Latin America will expand at a 9.8% CAGR through the analysis period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Internet & the Modern Digital Infrastructure
- Recent Market Activity
- Key Statistical Findings
- Internet Opens Up a Range of Online Security Issues for Organizations, Brings Importance of ‘Cyber Security’ to the Forefront
- Avoiding Unnecessary Costs – Key Rationale for Organizational Adoption of Cyber Security Solutions
- Difficult Economic Environment Increases Cyber Crime Attacks – Magnifies the Business Case for Cyber Security
- Outlook
- Developed Markets Lead from the Front But Developing Markets Turn Hotspots for Growth
- Competitive Landscape
- Consolidation Wave in Cyber Security Market
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
- Avast Software (Czech Republic)
- Booz Allen Hamilton (USA)
- CA Technologies, Inc. (USA)
- Check Point Software Technologies Ltd. (Israel)
- Cisco Systems, Inc. (USA)
- CSC (USA)
- Deloitte LLP (USA)
- Forcepoint LLC. (USA)
- F-Secure Corporation (Finland)
- IBM Corporation (USA)
- Juniper Networks, Inc. (USA)
- Kaspersky Lab (Russia)
- Lockheed Martin Corporation (USA)
- McAfee, Inc. (USA)
- Microsoft Corporation (USA)
- Northrop Grumman Corp. (USA)
- Panda Security (Spain)
- SafeNet, Inc (USA)
- Sophos PLC (UK)
- Symantec Corporation (USA)
- Trend Micro Incorporated (USA)
- Utimaco Safeware AG (Germany)
- Wisekey SA (Switzerland)
3. MARKET TRENDS & DRIVERS
- Major Trends & Growth Drivers
- Rise in Volume & Magnitude of Cyber Crime to Drive Increased Adoption of Cyber Security Solutions & Services
- Increasing Prevalence of Malware to Drive Robust Demand for Cyber Security Solutions & Services
- Trojan: Fastest Growing Data-Stealing Malware
- Hactivism on the Prowl – Creates Need for Efficient Cyber Security Solutions
- APTs Emerge as a New Sophisticated Threat
- Instances of Cyberterrorism to Strengthen Demand for Cyber Security Solutions & Services
- Security Threats from Virtualization & Cloud Infrastructure Deployments to Drive Demand for Cyber Security Solutions in Government & Private Organizations
- Inherent Security Challenges of Mobile Infrastructure Lends Traction to Cyber Security Market
- Phenomenal Rise of Social Networking Sites Drives Usage Case for Cyber Security Solutions
- IPv6 Boosts Adoption of Cyber Security Solutions and Services
- Regulatory Compliance Requirements Continues to Drive Demand for Cyber Security
- Government Sector – A Major Revenue Contributor
- Priority for Cyber Threat Listed by Country
- Growing Use of Cyber Security Solutions in Public Utilities for Securing Smart Grid Infrastructure
- Cyber Security Seeks New Opportunities in Defense Applications
- Private Organizations Lend Traction to Growth in Cyber Security Market
- High Usage of Digital Platforms Makes Private Establishments Highly Vulnerable to Cyber Security Threats
- Cyber Security Turns into a Top Investment Priority for Businesses
- Cyber Security – A Critical Necessity in Banking and Finance Sector
- Major External & Internal Breaches in Financial Services Sector
- Top Security Initiatives by Industry Segment
- Mobile Banking Keeps Cyber Security Busy
- Broker Dealers & Investment Advisers in Securities Market too Embrace Cyber Security Solutions
- Regulatory Compliance: A High Priority for Financial Institutions
- Advanced Solutions Gain Traction in Financial Services Sector
- Key Barriers in Cyber Security for Financial Services Sector
- Telecommunication and IT
- DOS Attacks Threaten Mobile Network Security – Drive Demand for Cyber Security Solutions in Telecom Industry
- Overbilling Attack: A Business Case for Cyber Security Solutions in Telecom Industry
- VPN to Make Telecommunication Networks More Safer
- Opportunities for Wireless Network Security in Telecom Industry
- Production Systems Also Seek Cyber Security
- Growing Demand in Healthcare Sector
- Small and Mid-Sized Businesses – A Lucrative Market Segment
- Key Issues
- Major Restraints to Effective Cyber Security in Enterprises
- Inadequate Budget – The Key Constraint
- Lack of Comprehensive Security Solutions
- Lack of Alignment between Business Objectives and Security
- External Threats More Recognized than Internal Threats
- Most Organizations Continue to Remain Reactive Rather than Proactive
- Availability of ‘Freemium’ and Free Products Niggles the Market
- Growing Sophistication & Complexity of Security Threats – A Challenge to Reckon With for Cyber Security Solution Providers
- Advanced Security Solutions – The Need of the Hour
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 213
For more information about this report visit https://www.researchandmarkets.com/r/yff5fo
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