Global Cyber Security Market to Witness a CAGR of 11.2% during 2019-2025
NEW YORK, May 02, 2019 (GLOBE NEWSWIRE) -- The global cyber security (CS) market is likely to grow with a significant CAGR of 11.2% during 2019-2025, and reach USD 284.34 billion by 2025. The market growth is primarily driven by increasing cybercrimes, growing adoption of Internet of Things (IoT) and Bring Your Own Device (BYOD) trends, rising expenditure on cyber security, and strict data protection directives. Moreover, increased deployment of web and cloud-based business applications, and emergence of digital technologies has also led to the greater demand for the CS market. However, limited security budget among small and medium enterprises (SMEs) may hamper the market growth to some extent.
Cyber security refers to the practice of securing computer information, network, and data from cyber attacks. It provides various solutions to protect the network infrastructure, and the devices connected in it. The demand for cyber security is propelling on account of the emergence of internet of things (IoT) and BYOD technology. These technologies enable a way to connect a large number of devices and applications via internet. In addition, the safety and security of these devices and applications is essential to the organizations.
Key findings of the report:
-- The global cyber security market is estimated to reach USD 284.34 billion by 2025, at a CAGR of 11.2% over the forecast period -- Based on component, the solutions segment held the major market share in 2018, and is anticipated to continue its dominance over the forecast period. The service segment is likely to register the highest CAGR during the forecast period. -- Based on deployment, cloud-based segment is likely to emerge as the fastest growing segment during 2019-2025 -- Large enterprise dominated the organization size segment in 2018, owing to the increased implementation of security solutions with rapid expansion of large enterprises. -- Based on end-use, the market is dominated by the BFSI sector owing to the growing need for security and privacy in financial institutions. Moreover, increasing adoption of internet banking is further fueling the demand for cyber security in the segment. Furthermore, Aerospace & defense segment are expected to exhibit a significant CAGR during 2019-2025. Aerospace & defense industry access applications to hold critical data and are prone to advanced threats, thus impelling the demand for the cyber security technology. -- Key players operating in the global cyber security market include; Cisco Systems Inc.; Trend Micro Incorporated; IBM Corporation; Symantec Corporation; Verizon; McAfee LLC.; Check Point Software Technologies Ltd.; Dell Inc.; Proofpoint; Palo Alto Networks, Inc.; Imperva, Northrop Grumman; Sophos Ltd.; FireEye; Intel Corporation; LogRhythm Inc; Webroot Inc.; Fortinet, Inc.; F-Secure; Trustwave Holdings, Inc.; Microsoft Corporation; and Capgemini among others.
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Global Cyber Security Market - Regional Insight
Geographically, the global cyber security market is segmented into North America, Asia-Pacific, Europe, Middle East and Africa, and Central & South America. North America is anticipated to dominate the market over the forecast period. The regional growth is owing to the prevalent use of data and advanced technology, presence of prominent players, rising cyber attacks, and increasing government initiatives for cyber security. However, Asia-Pacific is likely to augment with the highest CAGR over the forecast period. Increasing adoption of advanced technology, and strict derivatives for data privacy in emerging economies such as China and India is expected to fuel the demand for cyber security market in the region.
The report segments the global cyber security market on the basis of solution, service, deployment, organization size, end-use, and region.
-- By Solution o Encryption o Data Loss Prevention o Antivirus/Anti-Malware o Unified Threat Management o Identity and Access Management o Risk and Compliance Management o Disaster Recovery o Others -- By Service o Threat Intelligence & Behavior Analysis o Auditing & Logging o Monitoring & altering o Others -- By Deployment o Cloud-Based o On-Premise -- By Organization Size o Small and Medium Enterprise (SMEs) o Large Enterprise -- By End-Use o Aerospace and Defense o Banking, Insurance, and Financial (BFSI) o IT and Telecom o Retail o Manufacturing o Energy and Utilities o Healthcare o Others -- By Region: o North America # U.S. # Canada o Europe # UK # Germany # France # Italy # Spain # Russia # Rest of Europe o Asia-Pacific # China # Japan # India # Australia # Singapore # Malaysia # Rest of Asia-Pacific o Central and South America (CSA) # Brazil # Mexico # Rest of CSA o Middle East and Africa # UAE # Saudi Arabia # South Africa # Rest of MEA
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