The cybersecurity market is expected to reach USD 351.43 billion,
By 2030, the cybersecurity market is expected to reach USD 351.43 billion CAGR of 13.10%.
Cybersecurity is the blend of many technologies and procedures to protect devices, networks, and data from illegal intrusions and attacks. The demand for cybersecurity products has increased dramatically with the rise of internet marketing. Growing organizations need to reduce risk, and strict compliance with the regulatory framework requires a solution to stop cybercrime using cybersecurity services. In addition to being necessary for businesses, cybersecurity services
are in high demand owing to the lucrative prospects presented by BFSI (Banking, Finance, Services, and Insurance) cyber attacks in the global market. For this reason, one of the factors creating a huge market for the cybersecurity industry is the frequency of cyberattacks around the world. The budget restriction prevents small and medium-sized enterprises from meeting this need.
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Main market players
Intel Corporation (USA)
HP Enterprise (US)
Cisco Systems Inc. (USA)
Sophos ltd. (UK)
IBM Corporation (USA)
BAE system (UK)
Carbon Black Inc. (USA)
Akamai Technologies (US)
Symantec Corporation (USA)
FireEye Inc. (USA)
Rapid7 Inc. (USA)
EMC RSA (USA)
The opportunities for market players are growing rapidly as the adoption of cloud-based applications increases. Since data is now easily accessible with the rise of technology and is therefore of utmost importance to any organization, be it for individuals or businesses, it is expected that the cybersecurity trend will grow.
The cybersecurity market has been segmented on the basis of component, organization size, security type, deployment, vertical, region and country.
data loss prevention
Professional Services Training
Small and medium-sized enterprise
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Depending on a component
Solutions and services make up the global cybersecurity market. The solution category has been divided into the following subcategories: Data Loss Prevention, Web Filtering, Antivirus, Disaster Recovery, and Unified Threat Management. Additionally, the service section includes managed and professional services such as consulting, support, maintenance, design, and training.
Regarding the size of the organization
Application security, cloud security, wireless security, endpoint security, and other subsectors have been added to the global cybersecurity market segmentation.
According to the vertical
Manufacturing, BFSI, Government, Aerospace & Defense, IT & Telecom, Retail, Healthcare, and Others are the categories of the global cybersecurity market.
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The growing need for cybersecurity opportunities. Due to the new normal i.e. working from home and cybernization attacks, proper cyber security is necessary. It is needed despite the size of the organization and hence there is a boom for the cybersecurity market. This will not only bring us safety benefits, but also contribute to the smooth running of work even at home. The cybersecurity industry has become a very important player in this world based on computer technology. Its increasing demand can also be evidenced by its use in (BFSI) and many other IT-based industries
Regions with the highest cybersecurity ratings globally include North America, Europe, Asia-Pacific, Middle East, Africa, and South America.
Due to the worrying increase in cyberattacks in North America, the region has the largest cybersecurity market. Moreover, America is the most technologically advanced nation and a large portion of its population uses the cloud.
More concerned with the prevention of cyber risks, cybersecurity professions in Asia-Pacific are gaining notoriety. In addition, all organizations are moving towards secure networks and data to efficiently operate their transactions and protect their private information.
Majority of the major players are relying heavily on agreements, collaborations, and partnerships to increase their market share in the cyber security industry. By doing so, they will increase their customer base and meet the needs of their customers all over the world.
Since automobiles now communicate via Bluetooth and WiFi technologies, hacking has grown in the automotive industry. As a result, it is necessary to put in place strong cybersecurity measures.
As AI (artificial intelligence) is a mixture of machine learning, cybersecurity now interacts with AI. From face detection, autonomous hazard detection, natural language processing, and more, AI has benefited humans in many ways. It can also identify any cyber attacks that are fueling the current trend in cyber security.
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