DUBLIN--(BUSINESS WIRE)--The "Cyber Security Market by Component (Solution, Service), by Security Type, by Deployment Mode, by Organization Size, by Industry, by Geography - Global Market Size, Share, Development, Growth and Demand Forecast, 2013-2023" report has been added to ResearchAndMarkets.com's offering.
The cyber security market has been gaining traction due to its increased adoption in multiple industries, such as aerospace and defense, government, banking, financial services and insurance (BFSI), healthcare, retail, IT & telecom, and manufacturing. Cyber security solutions have been garnering higher revenues as compared to services; however, a higher growth is being witnessed in the services category. They enable enterprises to identify threats and protect organizations' data from lethal cyber-attacks. It speeds up the process of noticing attacks and enables organizations to adopt predictive measures in combating cyber-crimes, which has been driving its market.
Based on security type, application was globally the largest security type, with $18.7 billion in 2016. Large enterprises accounted for larger share of the cyber security market compared to SMEs. The demand for cyber security has been growing by more than 5% in all the industries, however, the highest growth in demand has been observed from BFSI, where the rate of cyber-attacks is very high.
Geographically, the cyber security market is expected to witness the fastest growth in Asia-Pacific, during the forecast period. High value targets in a less secure environment, have made this region a potential target for cyber-criminals. China accounted for the largest share of 31.4% of the APAC cyber security market in 2016. This is mainly attributed to the increased wired and wireless internet usage, rapid computerization, growth of e-commerce, and the rise in the adoption of cloud computing in the country.
The cyber security market is fragmented, and has been witnessing several partnerships and acquisitions among key players. Some of the major players in the cyber security industry are BAE Systems, Plc, RSA Security LLC, IBM Corporation, Symantec Corporation, Palo Alto Networks, Inc., Fortinet, Inc., FireEye, Inc., Check Point Software Technologies Ltd, Cisco Systems Inc., and Juniper Networks, Inc.
- Adoption of BYOD
- Rise in Number of Mergers and Acquisitions in Cyber Security
- Rising Incidence of Cyber Attacks
- Increased Usage of Mobile Devices
- Stringent Government Regulation for Data Privacy
- Impact Analysis of Drivers on Market Forecast
- Lack of Awareness for Security in SMEs
- Restricted Budget for Cyber Security
- Impact Analysis of Restraints on Market Forecast
- Growing Adoption in Healthcare
Key Topics Covered
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
Chapter 5. Global Market Size and Forecast
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. Asia-Pacific (APAC) Market Size and Forecast
Chapter 9. Middle East & Africa (MEA) Market Size and Forecast
Chapter 10. Latin America (LATAM) Market Size and Forecast
Chapter 11. Competitive Landscape
Chapter 12. Company Profiles
- BAE Systems, Plc.
- Check Point Software Technologies Ltd.
- Cisco Systems Inc.
- FireEye, Inc.
- Fortinet, Inc.
- IBM Corporation
- Juniper Network, Inc.
- Palo Alto Networks, Inc.
- RSA Security LLC
- Symantec Corporation
For more information about this report visit https://www.researchandmarkets.com/research/s3n8f7/2018_global?w=4