Cyber Security Global Market Overview:
The industry is experiencing a significant shift of technologies with the rise of internet of things which in result is creating a need for cyber security. The technology innovations, customer expectations, and advent of smart cities are all fusing to create a dramatic, new vertical destined to tremendously increase the market for cyber security market.
The Global cyber security market is growing with the rapid pace; mainly due to the proliferation of cyber-attacks. Cyber-attacks have been increasing rapidly around the globe. A study shows that only U.A.E region suffered from around 50 network attacks and 60 web attacks in 2014. According to a recent study report published by the Market Research Future, the global market of cyber security is booming and expected to reach huge market size over the forecast period. The market is projected to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023).
The factors driving the global market of cyber security market are increasing dependence on technology, increasing adoption of cloud computing and others. On the other hand, under skilled labour, high adoption of pirated software are some of the factors hindering the growth of cyber security market.
The Cyber Security Market is highly competitive due to the increase government initiatives to support cyber security start-ups. Recently UK government announced the collaboration of private company with government bodies to make the UK more secure.
The advent of smart cities is considered to be the biggest opportunity for the cyber security market. As smart cities result in the increasing adoption of IoT and large amount of data that creates huge demand for cyber security. Apart from it, the emerging market for smart devices is also an opportunity for the cyber security market.
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Major Key Players:
Intel Security (U.S.), Symantec Corporation (U.S.), Hewlett Packard Enterprise (U.S.), IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), Rapid7, Inc. (U.S.), EMC RSA (U.S.), FireEye, Inc. (U.S.), Trend Micro, Inc. (Japan) and Sophos Ltd. (U.K.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global cyber security Market.
June 2017 – Intel has joined Team8, an Israeli creator of cyber security start-ups, as a strategic partner and will help with the formation of companies that address the largest cyber security problems.
December 2017 – French technology consulting firm Atos ATO.O offered to buy Gemalto for 4.3 billion euros ($5.06 billion) to boost its cyber security services as states and big corporations seek to cope with a growing number of attacks on the Internet worldwide.
Cyber security Global Market Competitive Analysis:
The Market of cyber security appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio.
Major players are investing on internal R&D and, most of all, in acquiring other firms. Cisco and IBM have decided to join forces to swap threat intelligence between their internal research groups for investigating major hacks and moving forward. The two companies also plan to add product integrations that connect their portfolios over the course of the year. Also, Cisco Systems is continuously looking for acquisitions as it pushes towards working real time on cyber security intelligence data.
The rising government funding is also expected to motivate key companies to invent new cyber security modules that match the changing trends and needs across the globe. These players possess state of art R&D labs and strong sales and distribution network which have helped them to gain leadership position in the market.
Cyber security Global Market Segmentation:
The cyber security Market can be segmented in to 6 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Solution: Comprises Identity & Access Management, Risk & Compliance Management, Unified Threat Management, Disaster Recovery, Firewall, Antivirus, Web Filtering and others
Segmentation by Service: Comprises Managed Services, Professional Services, Training & Education, Consulting, Support & Maintenance, Design & Integration, Risk & Threat Assessment
Segmentation by Security Type: Comprises Network Security, End Point Security, Application Security, Cloud Security, Wireless Security & Others
Segmentation by Deployment: Comprises cloud and on premise
Segmentation by Vertical: Comprises BFSI, Manufacturing, Healthcare, Retail, IT & Telecommunication, Aerospace & Defense, Government, Others
Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
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Cyber Security Global Market Regional Analysis:
North-America is dominating the global cyber security market with the largest market due to the high technology dependence and high adoption of IoT. Cyber security market in Asia-Pacific market is expected to grow at a substantial CAGR during 2016 to 2023 owing to a large enterprises and SMEs in the region are increasingly adopting cloud-based Cyber Security solutions.
The Asian countries like China, Japan, South Korea and others are showing interests in the development of cyber security soultions. According to recent news, Japan is planning to invest in the cyber security sector in Zimbabwe to protect citizens and tourists from different countries. The European market for cyber security Market is expected to grow at a considerable CAGR (2016-2023).
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