Cyber Security Market 2021 Growth Statistics, Industry Share, Latest Trends, Comprehensive Overview, Business Development Plans, Cost Analysis, Revenue, Growth Drivers, Size Estimate and Forecast till 2027

Cyber security incorporates the safety of assets from cyber-crime and terrorism and other network service interruptions that affect daily operations. Cyber security can be accomplished through active monitoring, exposure of outages or malicious movement, and timely response to disruptions.

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With the proliferation of cloud, mobility, and bring your own device (BYOD), endpoint protection is crucial for all security departments. Cyber security threats and vulnerabilities can change from day to day, and even hour to hour. Effective steps for managing cyber risks today are unlikely to suffice for very long, and thus maintaining security in a wireless environment is challenging for most vendors in the ecosystem.

Cyber threats affect more than just the Information Technology (IT) infrastructure of a company. These threats cause disruptions to the entire network that impact principal business functions and mission. Moreover, organizations evaluate cyber security in terms of direct influence to the successful execution of an organization’s primary mission.

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The growth in volume and sophistication of cyber-attacks majorly drive the market growth. Partnerships and acquisitions were the key strategies adopted by the market players to enhance their market share. For instance, Tenable Network Security collaborated with Thycotic, a provider of Privileged Account Management solutions. AurionPro Solutions, a global leader in enterprise security acquired Spikes Security, a network-based web malware provider. This acquisition enabled AurionPro to expand its customer base and develop a broader product portfolio by leveraging low cost R&D.

Based on solutions, global cyber security market is segmented into risk and compliance management, security incident management, Unified Threat Management (UTM), Identity and Access Management (IAM), encryption, intrusion prevention systems, and others. The UTM trend is expected to increase as these are typically purchased as cloud services, and include advanced features such as identity based access control, intrusion prevention, and Quality of Service.

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The services segment is classified based on professional services and managed services. Managed services are expected to exhibit the highest growth rate during the forecast period, as they integrate along with the company’s intellectual property to provide end-to-end solutions tailored to meet the organization’s exact requirements.

Small and Medium Enterprises (SMEs) adopt the BYOD policy, which demands varied security software to protect the corporate data. Different industry verticals such as Banking, Financial Services & Insurance (BFSI), retail, IT & telecom, manufacturing, aerospace & defense, healthcare, and others use cyber security solutions to protect their data. The financial institutions such as banking sector dominates the enterprise security usage followed by public sector.

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Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region has shown a prominent growth and is expected to grow further at a CAGR of 17.8% over the forecast period. In the years to come, Asia-Pacific should be a prominent cyber security market, owing to the rapid growth in population and increase in IT hubs. This would indirectly boost the market for cyber security market in the Asia-Pacific region.

KEY BENEFITS

The study provides an in-depth analysis of the cyber security market along with current and future trends to elucidate the imminent investment pockets.
Information regarding key drivers, restraints, and opportunities along with their impact analysis on the cyber security market is discussed.
Porter’s Five Forces analysis illustrates the potency of buyers and suppliers in the cyber security market.
The value chain analysis of the cyber security market signifies the key intermediaries involved, and elaborates their roles & value additions at every stage.
The quantitative analysis of the market from 2014 to 2022 is provided to elaborate the market potential.

According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.

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This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).

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)

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.

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)

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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

What is the goal of the report?

The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.

During the forecast period, the report analyzes the growth rate, market size, and market valuation.

The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.

The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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Following are the questions answered by the Market report:

What are the goals of the report?

This market report shows the projected market size for the Multi-Cloud Management Market at the end of the forecast period. The report also examines the historical and current market sizes.

On the basis of various indicators, the charts present the year-over-year growth (%) and compound annual growth rate (CAGR) for the given forecast period.

The report includes an overview of the market, its geographical scope, its segmentation, and the financial performance of key players.

The report examines the current state of the industry and the potential growth opportunities in North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa.

The research report includes various factors contributing to the market’s growth.

The report analyzes the growth rate, market size, and market valuation for the forecast period.

This report covers aspects of the regional analysis market.

The report includes data about North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

This report analyzes current and future market trends by region, providing information on product usage and consumption.

Reports on the market include the growth rate of every region, based on their countries over the forecast period.

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What factors are taken into consideration when assessing the key market players?

The report analyzes companies across the globe in detail.

The report provides an overview of major vendors in the market, including key players.

Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.

This report includes a comparison of market competitors and a discussion of the standpoints of the major players.

Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.

What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

The report offers the current state of the market and future prospects for various geographical regions.

This report provides both qualitative and quantitative information about the competitive landscape of the market.

Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.

It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.

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