DUBLIN--(BUSINESS WIRE)--The "Global Cyber Security Market, By Type, By Solution,, By Industry Vertical, By Services & By Region - Forecast and Analysis 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Cyber Security Market was valued at USD 140.12 Billion in 2021, and it is expected to reach a value of USD 423.56 Billion by 2028, at a CAGR of more than 17.12% over the forecast period (2022 - 2028).
Cyber-attacks are a serious concern, particularly to high-value targets including government agencies, defense, and aerospace. Governments all around the world have strict cyber security regulations in place to protect individuals' and corporations' data and privacy. The market is being driven by such governmental rules and regulations.
Market Dynamics
Drivers
- The key aspect driving the market growth includes the increasing demand for cybersecurity mesh. The cybersecurity mesh is a new paradigm about security architectures. It allows decentralized companies to deliver and extend security where it's required the most. It's a decentralized notion that tries to secure users' or computers' identities, and it's one of the most popular tactics right now. Whether on-premises or in the cloud, the goal is to limit access to an organization's network to authorized individuals (or systems). The cybersecurity mesh aids IT professionals in managing protection from each access point while also preventing attackers from obtaining access to the system.
- Rising malware and phishing threats among enterprises are other factors encouraging cyber security adoption. Malware, such as viruses and Trojan horses, has significantly increased its ability to infiltrate, control, and damage entire electronic information networks. Cybercriminals frequently employ malware to gain control of devices or equipment in order to profit. This is done so that the machine may be used to carry out fraudulent transactions or criminal activities right away. This further drives the industry's growth.
Restraint
- The factor that negatively impacts the market growth is the low cybersecurity budget and high installation costs. The budget for cybersecurity of emerging startups is insufficient in order to adopt Next-Generation Firewalls (NGFWs) and Advanced Threat Protection (ATP) technologies. Due to their limited financial resources, these businesses lack the necessary IT security infrastructure, resulting in a sluggish adoption of new technologies and corporate security solutions. Small businesses are tasked with managing budget finances for a variety of operational issues and business continuity plans; which limits the growth.
Key Market Trends
- The key trend driving cloud computing services is the increasing shift of the consumers towards online services. The rising network of online services, such as banking and financial services, is also driving the market. In the last decade, only mobile payments surpassed the $400,000 million mark. With such large quantities of money transactions, cyber-attacks are always a possibility. Cyber security costs billions of dollars for businesses and governments. Hence, security of which requires cyber security, which, in turn, is projected to drive the market growth.
- The expanding use of social media and cloud services is another important driving factor for the market. With a massive amount of personal information stored on web servers and cloud storage; hacking is always a possibility. The number of cases of personal information being hacked and made public is on the rise. Cyber security is also becoming more popular among individuals, which is driving market growth.
- Airplane navigation and guidance systems are also vulnerable to cyber-attacks, which can have many further consequences. As a result, all ground and airborne activities require a solid security architecture for computers and networks. The rapid adoption of machine-to-machine technologies (M2M) in the aerospace and governments sector increased the focus on cybersecurity to combat cyber terrorism. This has further fueled the demand for the cybersecurity industry in this sector in recent years.
Key Topics Covered:
Executive Summary
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
- Technology Analysis
- Pricing Analysis
- Supply Chain Analysis
- Value Chain Analysis
- Ecosystem Of the Market
- IP Analysis
- Trade Analysis
- Startup Analysis
- Raw Material Analysis
- Innovation Matrix
- Pipeline product Analysis
- Macroeconomic Indicators
COVID IMPACT
- Impact On Economy
- Revised Market Size
- Impact Of COVID On Key Segments
- COVID Strategies By Company
MARKET DYNAMICS & OUTLOOK
Global Cyber Security Market by Type
- Market segments
- Network Security
- Application Security
- Mobile Security
- Wireless Security
- Cloud Security
Global Cyber Security Market by Solution
- Market segments
- Disaster Recovery
- Anti-malware
- Anti-virus
- Mobile Device Management
- Firewalls
- Authentication
- Authorization
- Intrusion Detection
- Protection Systems (ID/IP Systems)
- Network Access Control
- Data Loss Prevention
- Encryption
- DDOS Mitigation
- Security Information
- Event Management (SIEM), Whitelisting
Global Cyber Security Market by Industry Vertical
- Market segments
- Government
- Defense
- Aerospace
- Banking
- Financial Services Industries, Travel
- Transportation
- Telecommunication
- Healthcare
- Retail
- Manufacturing
Global Cyber Security Market by Services
- Consulting Services
- Network Vulnerability Assessment
- Managed Security Services
- Design
- Integration
Market Size by Region
KEY COMPANY PROFILES
- AVG Technologies
- Check Point Software Technologies Ltd.
- Cisco Systems Inc.
- Cyber Ark Software Ltd.
- Dell Technologies Inc.
- Fireeye Inc.
- Fortinet
- IBM Corporation
- Imperva
- Intel Security
- Palo Alto Networks Inc.
- Proofpoint Inc.
- Rapid7 Inc.
- Symantec Corporation
- Trend Micro Inc.
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