New York, NY -- (SBWIRE) -- 01/25/2021 -- The major contributing factor for the growth of the market for Cyber Security can be the focus of enterprises and government for secured sharing of information. For more secured sharing, it is necessary to use appropriate cyber security solutions.

Market Size – USD 148.1 billion in 2018, Market Growth - CAGR of 8.9%, Market Trends –Increasing demand for cloud based solutions.

The Cyber Security market is expected to grow from USD 148.1 billion in 2018 to USD 267.7 billion by 2026, at a CAGR of 8.9% during the forecast period. Focus of enterprises and government for secured sharing of information, rise in digitized workplaces & mobile workforce, increasing number of supply chain-based attacks damaging the software supply chain, strict government norms regarding security of data, increasing demand for cloud based solutions, increase in the Ecommerce penetration across industry verticals and emergence of AI, machine learning and block chain technologies for cyber defense are some of the driving factors of the market.

The report is furnished with the latest market scenario pertaining to the COVID-19 pandemic and its after-effects on the Cyber Security industry and the key segments. The pandemic has disrupted the workflow of the industry and created financial difficulties. The report assesses the complete impact of the pandemic on the market and offers key insights into the market scenario along with trends and demands disruptions. The report also offers an outlook on the market scenario in the forecast timeline.

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Some of the players profiled in the report are Sophos (UK), Cisco (US), F5 Networks (US), CyberArk (Israel), FireEye (US), Forcepoint (US), Check Point (US), Fortinet (US), Amazon Web Services (US), Oracle (US), Imperva (US), Qualys (US), Palo Alto Networks (US), RSA Security (US), McAfee (US), F-Secure (Finland), Micro Focus (UK), Microsoft (US), Proofpoint (US), Symantec (US), IBM (US), Rapid7 (US), Splunk (US), Trend Micro (Japan), and Juniper Networks (US), among others.

Further key findings from the report suggest

- The Cyber Security market is expected to grow from USD 148.1 billion in 2018 to USD 267.7 billion by 2026, at a CAGR of 8.9% during the forecast period.

- The major contributing factors for the growth of the market for Cyber Security can be focus of enterprises and government for secured sharing of information, rise in digitized workplaces & mobile workforce, increasing number of supply chain-based attacks damaging the software supply chain, strict government norms regarding security of data, increasing demand for cloud based solutions, increase in the Ecommerce penetration across industry verticals and leveraging AI, machine learning and block chain technologies for cyber defense.

- The Cyber Security market is segmented by deployment type into cloud and on-premises. The cloud deployment type is expected to witness highest growth, at a CAGR of 9.1% during the forecast period, due to its high demand by organizations, since it provides many benefits like affordable, scalability, reliability, flexibility, and remote location access.

- The Cyber Security market is segmented by security type into network security, endpoint security, application security, cloud security, others (content security, industrial control system (ICS) security, database security, and web security). The network security type is expected to witness highest growth, at a CAGR of 8.8% during the forecast period, due to rise in the number of security breaches targeting networks where hackers try to gain access to sensitive data.

- The Cyber Security Market is segmented by component into solutions and services. Solutions segment is expected to grow with the highest CAGR of approximately 10.1% during the forecast period, due to growth of encryption solutions since they offer consistent protection to sensitive data across all critical points in the entire lifecycle which enables enterprises to hide their critical data from unauthorized bad actors.
- The Cyber Security market is segmented by organization size into large and small & medium-sized enterprises. Large and medium-sized mostly adapt the cyber security solutions, small-sized enterprises may find the cyber security solutions a little unaffordable, thus lowering the market of cyber security in the small-sized enterprise segment.

- The Cyber Security Market is segmented by industry vertical into aerospace and defence, government, banking, financial services, and insurance (BFSI), IT and telecom, healthcare, retail, manufacturing, energy and utilities and others (education, media and entertainment, and transportation and logistics). Healthcare segment is expected to witness the highest growth, at a CAGR of 9.3% during the forecast period, since the segment is prone to security breaches. Other segments which are expected to witness growth are the banking, financial services and insurance, and IT and telecom industries.

- The Cyber Security Market is segmented by Geography into North, America, Europe, Asia Pacific and Rest of the World. North America, being a developed region, dominates the market, with a market share of around USD 45.9 Billion in the base year, since it focuses on utmost security and is readily adopting new and advanced technologies.

The Global Cyber Security Market is segmented as follows:

Deployment type Outlook (Revenue, USD Million; 2018–2026)
- Cloud
- On-Premises

Security type Outlook (Revenue, USD Million; 2018–2026)
- Network Security
- Endpoint Security
- Application Security
- Cloud Security
- Others (Content Security, Industrial Control System (ICS) Security, Database Security, and Web Security)

Component Outlook (Revenue, USD Million; 2018–2026)
o Solution
? Identity and Access Management (IAM)
? Risk and Compliance Management
? Encryption
? Data Loss Prevention (DLP)
? Unified Threat Management (UTM)
? Firewall
? Antivirus/Antimalware
? Intrusion Detection System (IDS)/Intrusion Prevention System (IPS)
? Security and Vulnerability Management
? Disaster Recovery
? Distributed Denial of Service (DDoS) Mitigation
? Web Filtering
? Others (Application Whitelisting and Patch Management)
o Services
? Professional Services
? Design and Implementation
? Risk and Threat Assessment
? Consulting
? Training and Education
? Support and Maintenance
? Managed Services

Organization size (Revenue, USD Million; 2018–2026)
- Large Enterprises
- Small and Medium-Sized Enterprises

Industry vertical Outlook (Revenue, USD; 2018-2026)
- Aerospace and Defense
- Government
- Banking, Financial Services, and Insurance (BFSI)
- IT and Telecom
- Healthcare
- Retail
- Manufacturing
- Energy and Utilities
- Others (Education, Media And Entertainment, and Transportation and Logistics)

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Market Segmentation by Regions:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Point Summary of the Report:

The global Cyber Security market research report is an investigative study offering key insights into the latest growth trends, developments, technological and product advancements, and the research and development scenario. The report also covers the market aspects that directly influence the growth of the market. These features include strategies undertaken by the prominent players, their expansion tactics, and the product portfolios of the companies, and micro and macro-economic factors.

The study also analyses the crucial market aspects, including R&D, product launches and brand promotions, mergers and acquisitions, collaborations, joint ventures, and the growth pattern on both regional and global levels. The report offers an in-depth evaluation of factors such as cost, capacity, rates of production and consumption, gross revenue, profit margin, demand and supply ratio, import/export, market share, market size, and market trends.

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The Global Cyber Security Market includes relevant and verified information relating to the overall market, key players, and their market position and financial standing. The report utilizes advanced analytical tools such as SWOT analysis, Porter's Five Forces Analysis, investment return analysis, and feasibility analysis to offer a comprehensive view of the market position of the major players of the industry.

Key Coverage of the Cyber Security Market:

Insightful information regarding the global Cyber Security market
Identification of growth in various segments and sub-segments of the Cyber Security market
Strategic recommendations for investment opportunities
The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
Emerging trends and current market segment analysis to help investors formulate new business strategies
Accelerates the decision-making process through the availability of the drivers and limitations

Global Cyber Security Market: Table of Contents

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2018-2026

Chapter 3. Indicative Metrics

Chapter 4. Cyber Security Market Segmentation & Impact Analysis

Continued……….

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