LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global enterprise cyber security solutions market to grow at a CAGR of close to 11% during the period 2018-2022, according to their latest market research report.
The heavy investment in cybersecurity is one of the major trends being witnessed in the global enterprise cyber security solutions market 2018-2022. Large organizations are investing in cybersecurity to secure information and maintain their reputation. Enterprise cybersecurity solutions enable enterprises to design, implement, and operate programs that are in sync with regularity policies, IT lifecycle, and programmatic.
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According to Technavio analysts, one of the key factors contributing to the growth of the global enterprise cyber security solutions market is the increasing adoption of cloud-based services:
Global enterprise cyber security solutions market: Increasing adoption of cloud-based services
Organizations across industry verticals such as healthcare, ICT, logistics, and manufacturing are adopting cloud-based platform and services for various applications, including authentication processes, video management, biometric information storage, and Big Data computing. The flexibility and scalability of cloud-based solutions help in meeting the varying needs of customers. Organizations in the financial services, healthcare, and investigation sectors extensively use cloud data storage. Therefore, for these firms to ensure data privacy and maintain end-users’ trust, cloud data security is essential in their operational setup.
According to a senior analyst at Technavio, “Governments are implementing stringent regulations such as PCI DSS and HIPAA, that require cloud providers to ensure the security of data held by banking and healthcare firms. The BFSI, government, and healthcare sectors can be prime targets for cybercrimes as they produce and store sensitive customer information. The rising adoption of cloud-based services in different industries is expected to augment the adoption of enterprise cyber security solutions during the forecast period.”
Global enterprise cyber security solutions market: Segmentation analysis
The global enterprise cyber security solutions market research report provides market segmentation by end-user (telecom and manufacturing, government, BFSI, healthcare and others), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2017, accounting for over 48% share, followed by the EMEA and APAC respectively. However, the market share of the Americas is expected to witness a significant decrease over the forecast period while EMEA is expected to witness the maximum increase in its market share.
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