Cybersecurity Market Share

Market Share of Cybersecurity Industry

The cybersecurity market exhibited fragmentation, featuring major players such as IBM Corporation, NortonLifeLock Inc. (Gen Digital Inc.), Microsoft Corporation, Proofpoint Inc. (Thoma Bravo, L.P.), and McAfee LLC. These market participants embraced strategies like partnerships and acquisitions to bolster their solution offerings and attain a sustainable competitive advantage.

In October 2023, IBM announced the launch of its new managed detection and response service offerings, incorporating advanced AI technologies. The newly introduced Threat Detection and Response Services (TDR) offered 24-hour monitoring, investigation, and automated remediation of security alerts across the client's hybrid cloud environments.

In September 2023, Norton LifeLock Inc. unveiled Norton Small Business, an all-in-one cybersecurity solution designed to assist entrepreneurs and small business owners in safeguarding their financial futures. Norton Small Business provides triple-lock protection, making it accessible for small businesses to secure their team's online activities, devices, and customer data through a user-friendly, all-in-one cybersecurity solution.

Cybersecurity Market Leaders

1. IBM Corporation

2. Nortonlifelock Inc. (Gen Digital Inc.)

3. Microsoft Corporation

4. Proofpoint Inc. (Thoma Bravo, L.p.)

5. Mcafee LLC

*Disclaimer: Major Players sorted in no particular order