DUBLIN--(BUSINESS WIRE)--The "Cybersecurity Global Market Report 2020-30: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global cybersecurity market.
This report focuses on cybersecurity market which is experiencing strong growth. The report gives a guide to the cybersecurity market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
The global cybersecurity market is expected to grow from $149.46 billion in 2019 to $152.21 billion in 2020 at a compound annual growth rate (CAGR) of 1.83%. The slow growth is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities that led to decline in the bottom line. As a result, companies' budgets for cybersecurity software is expected to decline. The market is then expected to recover and reach $208.28 billion in 2023 at CAGR of 11.02%.
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North America was the largest region in cybersecurity market in 2019.
In August 2019, Cisco Systems Inc., an American multinational technology conglomerate completed the acquisition of Sentryo, a France-based company that is engaged in providing cybersecurity solutions and assets visibility for industrial control systems (ICS). This acquisition is expected to enhance Cisco's security with unparalleled device visibility in operational technology (OT) environment which would provide engineers with deeper visibility into assets to secure and optimize their industrial networks. Sentryo is engaged in designing and developing threat intelligence and network monitoring platforms that offer cyber-resilience for data acquisition networks, supervisory control, and industrial control systems.
The increasing use of unlicensed or pirated software is a significant threat to the cybersecurity market. Pirate software refers to the unauthorized copy of the software, which is a replica of the original software. Internet-based piracy of software and solutions is an emerging issue for the industry. According to the BSA global software survey published in June 2018, despite the 2% drop in the pirated software installation rates, the unlicensed software was being installed at alarming rates during 2016 and 2017, accounting for 37% of software installed on personal computers. The organizations purchasing unlicensed software packages and a computer with pirated software installed can impede the growth of bottom line and induce unprecedented security risk. Thus, this high rate of software piracy is hindering the growth of the cybersecurity market.
Increasing government investments in cybersecurity solutions is a major trend shaping the growth of the cybersecurity industry. For instance, in October 2019, the UK government has announced a multi-million investment project of $48 million (36 million) to protect the country's businesses from cyberattacks. This scheme combines the government's partnership with leading tech firms such as ARM as a part of the government's digital security by design initiative, which was backed previously by Microsoft and Google. The government funding will help to detect future threats and mitigate their effects including terrorism, financial extortion and damaging established systems. Thus, increasing investments by the governments globally are likely to create large avenues for expansion for the players operating in the cybersecurity market over the forthcoming years.
Key Topics Covered:
1. Executive Summary
2. Cybersecurity Market Characteristics
3. Cybersecurity Market Size And Growth
3.1. Global Cybersecurity Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Cybersecurity Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Cybersecurity Market Segmentation
4.1. Global Cybersecurity Market, Segmentation By Solution, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Cybersecurity Market, Segmentation By Enterprise Size, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.3. Global Cybersecurity Market, Segmentation By Deployment Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.4. Global Cybersecurity Market, Segmentation By End-Use, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Cybersecurity Market Regional And Country Analysis
5.1. Global Cybersecurity Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Cybersecurity Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Companies Mentioned
- AVG Technologies NV
- Check Point Software Technologies
- Cisco Systems
- CyberArk
- F5 Networks
- FireEye
- Forcepoint
- Fortinet
- F-Secure
- IBM Corporation
- Imperva
- Juniper Networks
- McAfee
- Micro Focus
- Microsoft
- Oracle
- Palo Alto Networks
- Proofpoint
- Qualys
- Rapid7
- RSA Security
- Sophos
- Splunk
- Symantec
- Trend Micro
For more information about this report visit https://www.researchandmarkets.com/r/2uy7sy
