Cyber Security Market
The global cybersecurity market is highly fragmented and competitive, comprising several international and regional players.
PORTLAND, PORTLAND, OR, UNITED STATE, October 27, 2022 /EINPresswire.com/ — The emergence of IoT & BYOD, the surge in malware and phishing threats among enterprises, and the rise in demand for cloud-based solutions propel the growth of the global cybersecurity market. However, complexities regarding device security and tight budgets restrain market growth. Contrarily, the rise in requirements regarding strong authentication methods and the rise of the antivirus industry would offer new opportunities in the coming years.
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Based on components, the solutions segment held more than two-thirds of the total share and is estimated to maintain its lead position in terms of revenue throughout the forecast period. This is due to the rise in requirements regarding monitoring of external and in-house attacks in large and small & medium enterprises. Contrarily, the services segment is estimated to register the highest CAGR of 13.8% from 2018 to 2025, owing to the increase in the adoption of digital technologies from various industries and the requirement for data privacy.
On the basis of deployment type, the on-premise segment accounted for the highest share in 2017, holding nearly three-fifths of the total share. This is attributed to large enterprises adopting cybersecurity solutions and an increase in requirements regarding securing critical data from cyberattacks. On the other hand, the cloud segment is estimated to register the highest growth rate, registering a CAGR of 13.9% from 2018 to 2025, owing to the requirement for cloud-based security along with reduced maintenance and investment costs.
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Based on region, North America held nearly one-third of the total share in 2017 and is estimated to maintain its leadership status on the basis of revenue during the forecast period. This is attributed to rise in dependency upon social media applications and penetration of internet. However, Asia-Pacific is estimated to grow at the highest CAGR of 13.6% from 2018 to 2025, owing to ease in availability of smartphones in nations such as China and India that led to surge in adoption of cyber security measures.
Leading market players discussed in the report are Accenture, Capgemini, Cognizant, HCL Technologies Limited, IBM Corporation, Symantec Corporation, Tata Consultancy Services, Wipro Limited, and others. They have adopted various strategies including expansions, mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.
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Key Benefits For Stakeholders:
• The study provides an in-depth analysis of the global cyber security market forecast along with current & future trends to explain the imminent investment pockets.
• Information about key drivers, restraints, & opportunities and their impact analysis on global cyber security market trends is provided in the report.
• Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
• The quantitative analysis of the market from 2021 to 2030 is provided to determine the market potential.
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