Cyber Security Market Size, Share and Major Industry Players and Forecast to 2028 | Emergen Research

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Market Size – USD 173.20 Billion in 2020, Market Growth – at a CAGR of 7.6%, Market Trends – Increasing Cyber ​​Attacks in the BFSI Industry

Increasing adoption of machine-to-machine learning and the Internet of Things are key factors driving the growth of the cybersecurity market.”

— Emergen Research

VANCOUVER, BC, CANADA, July 5, 2022 /EINPresswire.com/ — The global cybersecurity market size is expected to reach $311.73 billion at a steady CAGR of 7.6% in 2028, according to the latest analysis by Emergen Research. The steady growth in cyber security market revenue is driven by the increasing number of data breaches and increasing cloud adoption, fueled by the shift in digitization across industries, sectors and verticals. The adoption of cloud-based services across various industries has increased, leading to significant growth in the cyber security market. Businesses are increasingly adopting cloud-based services because it is cheaper and requires no IT infrastructure setup. Cloud deployment leads to vulnerabilities in software and makes information easily accessible to cybercriminals. Companies are focused on improving their cyber security software to protect their data from cyber attacks. The growing popularity of digitization has encouraged various organizations to rely on digitized information. Sharing such information externally or internally has made organizations vulnerable to cybercrime through various mediums. A successful online attack can damage a company’s reputation as well as impact brand value. This can also result in a loss of competitive advantage and affect companies financially.

The study includes valuable data, including market information breakdown by type, geography, product application, and classification. An overview of the current and future trends considered in the report for the forecast period 2021 – 2028 are intended to influence the imperative expected of prominent vendors over their competitors. The latest market intelligence report on the Cyber ​​Security market aims to explore the unknown and find solutions to potential threats and challenges faced by the Cyber ​​Security market over the forecast period. The research methodologies used to estimate the Cyber ​​Security market are inventive and also provide ample evidence on demand and supply status, production capacity, import and export, supply chain management, and investment feasibility.

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Some key highlights from the report
In March 2021, NFP introduced a new cybersecurity product to meet customers’ personalized coverage needs. The DigitalShield solution is made possible by the company’s partnership with CyberScout, a cyber claims management specialist. DigitalShield offers protection for a variety of cyber-crimes, such as ransomware, cyber-attacks, identity theft, cyber-bullying and cyber-stalking, among others.

Encryption is a cybersecurity measure that protects personal and private data by using unique codes that encrypt data and make it nearly impossible for intruders to read. Even if a data breach occurs, encryption ensures that an institution’s private data is safe even when cybercriminals get through the firewall.

The professional services segment accounted for the largest revenue share in 2020. The increased demand is due to the use of cyber security software in enterprise risk assessment, penetration testing, employee training, physical security testing, and cyber security defense. By using extensive information and knowledge, companies could reduce additional costs.

The large enterprise segment accounted for the largest share of revenue in 2020 due to the increased frequency of cyber attacks on the personal databases of such organizations. Large organizations are improving their cybersecurity capabilities to protect their data and protect customer information.

The retail industry witnessed more breaches than any other industry in 2019 as criminals used more advanced methods to target large retailers of assets and data. As digital commerce becomes more popular, retailers are investing mostly in state-of-the-art security software to protect their e-commerce engines. Point-of-sale (POS) attacks are the most common because they contain sensitive information such as debit and credit card details, numbers and PINs.

The revenue of the Asia Pacific market is expected to grow at a high rate during the forecast period due to increasing government and corporate investment in protecting the respective data and information. Japan, followed by India, experienced the highest number of cyber attacks in 2020, driving the market growth thereafter. Finance and insurance was the most attacked sector in India in 2019, followed by manufacturing and professional services.

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Leading cybersecurity industry companies profiled in the report are:

IBM Corporation, Cisco Systems, Juniper Networks, CyberArk, Forcepoint, McAfee, Microsoft, F5 Networks, Oracle and Fortinet.

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Emergen Research has segmented the global cybersecurity market based on components, solutions, services, security type, implementation, organization size, end-use, and region:

Component Overview (Revenue, USD Billion; 2018-2028)
Hardware

Software

Solution Outlook (Revenue, USD Billion; 2018-2028)
Threat Intelligence

Identity and access management

Security and vulnerability management

Risk and compliance management

Others (Others include threat intelligence, SIEM and incident forensics platforms)

Encryption

Data loss prevention

Network DLP

Storage/ Data Center DLP

Endpoint DLP

Unified Threat Management

Firewall

Antivirus/ Antimalware

Intrusion Detection Systems/Intrusion Prevention Systems

Network

Host-based

Wireless

Disaster Recovery

Distributed Denial of Service

Web Filtering

Other (Other solutions include application whitelisting and patch management)

Services Overview (Revenue, USD Billion; 2018-2028)
Professional services

Design and integration

Risk and threat assessment

Consulting

Training and education

Support and maintenance

Managed security services

Security Type Outlook (Revenue, USD Billion; 2018-2028)
Application security

Network security

Cloud Security

Endpoint Security

Others

Implementation Outlook (Revenue, billion USD; 2018–2028)
Cloud

On-Premises

Organization Size Forecast (Revenue, USD Billion; 2018-2028)
Small and medium enterprises

Large companies

End-Use Outlook (Revenue, USD Billion; 2018-2028)
Government and Defense

Healthcare

BFSI

Energy and utilities

Manufacturing

IT and Telecom

Retail

Others

Regional analysis:

The report sheds light on the region expected to dominate the cyber security market in the coming years. The report evaluates the market size in terms of volume and value and offers an accurate estimate of the market share each region is expected to hold during the forecast period. The report analyzes the expansion of the cybersecurity market in key geographies covering North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The regional analysis offers an idea of ​​the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and presence of prominent players in each region.

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The report covers the key points of the market, including standards, regulations and policy changes that the government is applying to the industry in the coming years. The report includes thorough research conducted using advanced analytical tools such as SWOT analysis and Porter’s five forces analysis to determine trends and growth patterns. Factors that are likely to influence the market growth, current trends, opportunities, restraining factors and the business environment are discussed in detail in the market study.

Key points of the cyber security market:

Extensive coverage of cybersecurity market analysis

Key insights into regional industry expansion in key geographies

Radical insight into vital market trends; both current and new trends and factors affecting market growth

Comprehensive reporting on the impact of the COVID-19 pandemic on the overall growth of the cybersecurity market

Complete data on key manufacturers and suppliers in the Cyber ​​Security market

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Thank you for reading our report. Customization of this report is available in sections by chapter or region. Please contact us to learn more about the report and our team will provide you with excellent assistance.

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, custom research reports and consulting services. Our solutions focus exclusively on your purpose to locate, target and analyze changes in consumer behavior across demographics, across industries and help clients make smarter business decisions. We offer market intelligence studies that provide relevant, fact-based research across multiple industries, including healthcare, touchpoints, chemicals, species and energy. We consistently update our research offering to ensure our clients are aware of the latest trends in the market. Emergen Research has a strong base of experienced analysts from various areas of expertise. Our industry experience and ability to develop a concrete solution to any research problem provides our clients with the ability to secure an edge over their competitors.

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Cyber ​​Security Market Size Worth $311.73 Billion in 2028

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5 Jul 2022 16:58 GMT


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