The global cyber security market size is expected to reach USD 241.1 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 11.0% over the forecast period. Cyber security focuses on protection of the network, programs, computers, and data from unauthorized access. In the recent past, it has become increasingly vital owing to the storage and transmission of confidential information by government and corporations. Such a vast amount of data transmitted across networks is prone to data breaches, thus raising concerns among public as well as government.
Online threats are identified as one of the highest occurring global risks. Growing technological advancements and capabilities of disrupting cyberspace are continuously reshaping the global threat landscape. Cybercrimes have increasingly affected several industries in myriad ways, thereby boosting demand for internet safety solutions. Various organizations are focusing on improving security systems, owing to the rise in online threats and malware attacks in sectors such as government, defense, and IT.
Increasing number of high-profile cases of cybercrime has augmented the demand for sophisticated and advanced security software products and services. Furthermore, such cyber hacks have increased the awareness regarding potential threats amid industries such as BFSI, healthcare, and defense. Thus, it has resulted in improved allocation of resources among organizations that help to mitigate risk.
Cloud-based platforms and smartphone devices are predominant sources of online data breach among organizations. Proliferation of threats, along with the traditional safety models, has been proven ineffective to keep pace with increasing challenges pertaining to safety. In order to overcome such challenges, organizations are rapidly adopting a robust cybersafety stance. Thus, the global market is driven by necessary measures required to counteract growing cybercrimes.
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Increasing number of targeted attacks is propelling the demand for these solutions as major governments such as that in the U.S. and the European Union as well as venture capital firms are continuously investing funds into cybersafety enterprises. Furthermore, rapid advancements in technologies such as cloud, artificial intelligence, and IoT are anticipated to boost the demand for these solutions over the forecast period.
Further key findings from the study suggest:
- Based on component, the services segment dominated the market in 2018 and is anticipated to register the highest CAGR of 11.8% over the forecast period. The solution segment was valued at USD 57.3 billion in 2018
- On the basis of type, the enterprise segment was valued at USD 58.4 billion in 2018, expanding at a healthy CAGR over the forecast period. The application segment is anticipated to register the highest CAGR of 17.9% over the forecast period
- The managed services segment is expected to retain its dominance in the market and is projected to reach USD 76.3 billion by 2025
- The cyber security market in North America was valued at USD 44.6 billion in 2018 and is expected to expand at a healthy CAGR over the forecast period
- Key players in the market include Symantec Corporation; Cisco Systems Inc.; Checkpoint Software Technologies Ltd.; Fortinet Inc.; and Trend Micro.
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Key Topic Covered
Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
Chapter 3 Cyber security Market Snapshot
3.1 Cyber security – Market snapshot & key buying criteria, 2015 – 2025
Chapter 4 Cyber security Industry Outlook
4.1 Market segmentation
4.2 Cyber security – Market size and growth prospects
4.3 Cyber security – Value chain analysis
4.3.1 Vendor Landscape
4.4 Market Dynamics
4.4.1 Market driver analysis
4.4.1.1 Growing use of cloud-based security solutions
4.4.1.2 Increasing cyber threats
4.4.1.3 Growing government and compliance regulations
4.4.2 Market restraint analysis
4.4.2.1 Lack of training and inadequate workforce
4.5 Industry Analysis – Porter’s
4.6 Penetration & growth prospect mapping
4.7 Cyber security – Key Company Analysis, 2018
4.8 Cyber security – PEST analysis
Chapter 5 Cyber security Market: Component Estimates & Trend Analysis
5.1 Cyber security market: Component movement analysis
5.1.1 Solution market estimates and forecasts, 2015 – 2025 (USD Billion)
5.1.2 Service market estimates and forecasts, 2015 – 2025 (USD Billion)
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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