Cyber Security Market
The global cybersecurity market was valued at USD 103.84 billion in 2017 and is expected to reach a value of USD 242.57 billion by 2023 at a CAGR of 15.19% over the forecast period of 2018–2023.
Cyber threats are internet-based attempts to damage or disrupt information systems and hack critical information using spyware, malware, and phishing. Cybersecurity solutions help an organization to monitor, detect, report, and counter cyber threats to maintain data confidentiality.
The adoption of cybersecurity solutions is expected to grow with the increasing penetration of internet among developing and developed countries. Also, the expanding wireless network for mobile devices has increased data vulnerability making cybersecurity an integral part of every single organization across the world.
Aerospace and Defense Industry to Stay on Top
Airplane navigation and guidance systems can be highly susceptible to cyber-attacks, which can have widespread ramifications. Hence, the computers and networks for all the ground and air-borne operations need strong security infrastructure. The increasing adoption of Machine-to-Machine Technologies (M2M) in the aerospace domain and the focus of the governments on cybersecurity to counter cyber terrorism has driven the growth of the cybersecurity market in this sector immensely, in the past four years.
The Aerospace Industries Association (AIA) has long focused on promoting policies that strengthen the aerospace and defense industry and convening the crucial conversations on these same policies and issues with key stakeholders from across the public and private sectors. Defense companies, such as BAE Systems PLC, General Dynamics Corporation, Finmeccanica S.p.A., are engaged in developing cybersecurity solutions in the defense industry, especially in developing network security solutions and software, to prevent cyber-attacks on military software systems, proving the increasing demand from the sector.
North America Holds the Largest Share in Cyber Security Market
North America is expected to retain its position as the largest market for cybersecurity solutions, over the forecast period. The strong presence of several market incumbents, coupled with recent security threats in the region, are expected to drive the adoption of these solutions further. According to the recent annual budget plans of Trump government, the United States government has earmarked more than USD 19 billion for cybersecurity-related initiatives. This was majorly due to the increasing number of cyber-attacks in the nation.
The total number of cybersecurity incidents reported by federal agencies in the United States have drastically increased from 5,503 in 2006, to 77,183 in 2015. In 2016, the United States businesses sector was estimated to have recorded the highest number of data breaches ever, constituting about 45% of the total data breach incidents reported in the country, followed by medical/healthcare sector at 35%, and education sector at 10%. Such high levels of data breach activities are forcing the North American countries to strengthen their security systems, allowing huge opportunities to the cybersecurity market.
Key Developments in Cyber Security Market
- May 2017: IBM launched new incident response capabilities, which are part of its resilient security portfolio, to enable companies to address the new General Data Protection Regulation (GDPR). These capabilities are designed to help clients rehearse, prepare for, and manage the new regulations. GDPR is one of the biggest changes in data privacy.
Cyber Security Market Major Players
- IBM Corporation
- Cisco Systems, Inc.
- Dell Technologies, Inc.
- Rapid7, Inc.
- Intel Security
- Check Point Software Technologies Ltd
- Symantec Corporation
- Trend Micro, Inc., among others.
Reasons to Purchase Cyber Security Market Report
- Current and future cyber security market outlook in the developed and emerging markets.
- Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis.
- The segment that is expected to dominate the market.
- Regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3-month analyst support along with the Market Estimate sheet (in Excel).
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1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
1.4 Research Phases
2. Executive Summary
3. Cyber Security Market Overview
3.2 Value Chain Analysis
3.3 Industry Attractiveness - Porter's Five Forces Analysis
3.3.1 Bargaining Power of Suppliers
3.3.2 Bargaining Power of Consumers
3.3.3 Threat of New Entrants
3.3.4 Threat of Substitute Products and Services
3.3.5 Competitive Rivalry
3.4 Industry Policies
4. Market Dynamics
4.1 Cyber Security Market Drivers
4.1.1 Rapidly Increasing Cyber Security Incidents and Regulations Requiring its Reporting
4.1.2 Growing M2M/IoT Connections Demands for Strengthened Cyber Security in Enterprises
4.1.3 Consistent Threats from the Underground Market
4.2 Cyber Security Market Restraints
4.2.1 Lack of Cyber Security Professionals
4.2.2 High Reliance on Traditional Authentication Methods and Low Preparedness
4.3 Market Opportunities
4.3.1 Rise In Trend For IOT, BYOD, Artificial Intelligence, And Machine Learning In Cyber Security
5. Cyber Security Market Segmentation
5.1 Cyber Security Market By Type of Security
5.1.1 Network Security
5.1.2 Cloud Security
5.1.3 Application Security
5.1.4 End-point Security
5.1.5 Wireless Network Security
5.2 Cyber Security Market By Solution
5.2.1 Threat Intelligence and Response
5.2.2 Identity and Access Management
5.2.3 Data Loss Prevention
5.2.4 Threat Mitigation
5.2.5 Security and Vulnerability Management
5.2.6 Intrusion Prevention System
5.2.7 Unified Threat Management
5.2.8 Enterprise Risk and Compliance
5.2.9 Managed Security
5.2.10 Professional Services
5.3 Cyber Security Market By Deployment
5.4 Cyber Security Market By Industry
5.4.1 Aerospace, Defense and Intelligence
5.4.2 Banking, Financial Services and Insurance
5.4.6 Public Utility
5.4.7 IT & Telecommunication
5.5 Cyber Security Market By Region
5.5.1 North America Cyber Security Market Size (2018-2023)
126.96.36.199 United States Cyber Security Market Size (2018-2023)
188.8.131.52 Canada Cyber Security Market Size (2018-2023)
5.5.2 Europe Cyber Security Market Size (2018-2023)
184.108.40.206 United Kingdom Cyber Security Market Size (2018-2023)
220.127.116.11 Germany Cyber Security Market Size (2018-2023)
18.104.22.168 France Cyber Security Market Size (2018-2023)
22.214.171.124 Rest of Europe
5.5.3 Asia-Pacific Cyber Security Market Size (2018-2023)
126.96.36.199 China Cyber Security Market Size (2018-2023)
188.8.131.52 Japan Cyber Security Market Size (2018-2023)
184.108.40.206 India Cyber Security Market Size (2018-2023)
220.127.116.11 South Korea Cyber Security Market Size (2018-2023)
18.104.22.168 Rest of Asia-Pacific
5.5.4 Latin America Cyber Security Market Size (2018-2023)
22.214.171.124 Brazil Cyber Security Market Size (2018-2023)
126.96.36.199 Argentina Cyber Security Market Size (2018-2023)
188.8.131.52 Mexico Cyber Security Market Size (2018-2023)
184.108.40.206 Rest of Latin America
5.5.5 Middle East & Africa Cyber Security Market Size (2018-2023)
220.127.116.11 United Arab Emirates Cyber Security Market Size (2018-2023)
18.104.22.168 Saudi Arabia Cyber Security Market Size (2018-2023)
22.214.171.124 South Africa Cyber Security Market Size (2018-2023)
126.96.36.199 Rest of Middle East & Africa
6. Vendor Market Share Analysis
7. Cyber Security Market Company Profiles
7.1 AVG Technologies
7.2 Check Point Software Technologies Ltd
7.3 Cisco Systems, Inc.
7.4 Cyber Ark Software, Ltd
7.5 Dell Technologies, Inc.
7.6 FireEye, Inc.
7.8 IBM Corporation
7.10 Intel Security
7.11 Palo Alto Networks, Inc.
7.12 Proofpoint, Inc.
7.13 Rapid7, Inc.
7.14 Symantec Corporation
7.15 Trend Micro, Inc.
*List not Exhaustive
8. Cyber Security Market Investment Analysis
9. Cyber Security Market Future Outlook