LONDON – Global Cybersecurity Market is valued at USD 176.50 Billion in 2020 and expected to reach USD 403.01 Billion by 2027 with a CAGR of 12.5% over the forecast period.

The global cybersecurity market has been said to show a great amount of growth in the coming years. The growth will continue to take place and the biggest factor for this growth in the market is the rise in the frequency of cyber-attacks and how sophisticated they have become and how the cyber-attacks are target based. These are factors which are going to increase the Cybersecurity Market size.

Cybersecurity Market: Competitive Analysis 

The global cybersecurity market key players are the following companies IBM, Cisco, Check Point, FireEye, Trend Micro, Norton LifeLock, Rapid7, Micro Focus, Microsoft, Amazon Web Services, Oracle, Fortinet, Palo Alto Networks, Accenture, McAfee, RSA Security, Forcepoint, Sophos PLC, Imperva, Proofpoint Juniper Network, Splunk, SonicWall, CyberArk, F-secure Qualys, F5, AlgoSec, SentinelOne, DataVisor, RevBits, Wi-Jungle, BluVector, Aristi Labs and Securden. The global cybersecurity market companies 2021 are trying to make it easier for the people all over the world to adapt to security.

The report also focuses on key players in the Europe Cybersecurity Market, such as ,

  • IBM Corporation
  • Trend Micro, Inc.
  • Fortinet, Inc.
  • F-Secure
  • Trustwave Holdings, Inc.
  • Qualys, Inc.
  • Proofpoint, Inc.
  • FireEye, Inc.
  • Sophos Ltd.
  • Rapid7, Inc.
  • others.

Cybersecurity Market: Key Drivers

A major reason behind the global cybersecurity market growth is the cyber-attacks which have been taking place in the most sophisticated manner and that leaves the companies at the risk of data loss or other crimes which can cost them a lot of money and keep them at the risk of reputation loss. With cybercrimes increasing majorly, businesses all over the world have made arrangements to channel their money on the advanced technologies of information security for strengthening their security infrastructures in-house.

The targeted attacks are rising since the last few years and the infiltration usually targets network infrastructure and it also maintains anonymity. The attackers usually have targets in their minds which are mostly the attack end points, networks, on-premises devices and the cloud-based applications, data among the other infrastructures. The objective is to intrude the targeted companies and the network organizations and steal information which is critical to the companies and can impact the business negatively by the loss of IP, loss financially and critical and sensitive information loss.

The impact of these cyber-attacks doesn’t only impact the company but also other organizations which have the data of other organizations too and their global and local customers. The personal identifiable information like the names, telephone numbers, driver license numbers and the social security numbers have been often stolen by the attackers and the result is the increase in number of breaches of security.

Cybersecurity Market: Key Trends 

The cloud implementation allows the organizations to intertwine the supplementary infrastructure technologies like the software defined perimeters for creating a robust and secure platform. Governments in different countries are issuing the regulations and guidelines for cloud platform security which is going to drive the market for cyber security all over the world. The SMEs have been seeking the modernization constantly and infrastructure too by moving to the SaaS and IaaS. The global cybersecurity market trend suggest that this is going to be a scenario which is going to lead to cyber threats for exploiting vulnerabilities in the security model.

The traditional firewalls which are appliance based and security gateways aren’t capable of securing the applications that are cloud based and cyber-attacks like the malware, phishing, ransomware, and DNS data exfiltration. With the Small and medium enterprises focusing on adopting the cloud platforms, security administrators in the SMEs have been driving the need for the cybersecurity in cloud-based solutions for optimizing performance and secure web and mobile applications and the critical network infrastructures. The cloud-based cybersecurity solutions have eliminated the need for installing a stack of the security equipment on-premises.

The cloud-based security solutions approach doesn’t assume the presence of the perimeter and always consider the networks for the hostile. The cloud-based cybersecurity architecture approach facilitates the SSO and MFA for the cloud applications enabling users with the access to a specific application and data set. Cybersecurity Market 2022 in the post COVID world will be a very important market.

Cybersecurity Market: Segmentation Analysis

The global cybersecurity market statistics suggest that based on components, the cybersecurity market has been segmented into software, services, and hardware. The technology has been offered by the various vendors as a platform which is integrated or the tool which integrates with the existing infrastructure of the enterprises. Vendors are also offering cybersecurity hardware associated with the services which help organizations in the implementation which require the solution in their ongoing infrastructure. Recently, many developments are seen in the software and the related development kits.

The cybersecurity services are classified into professional and managed services. Professional services are further segmented into consulting, risk, and threat assessment; design and implementation; training and education; and support and maintenance. The demand for services is directly related to the adoption level of cybersecurity solutions. The adoption of cybersecurity solutions is increasing for securing business-sensitive applications.

Cybersecurity Market: Regional Analysis

The global cybersecurity market has been progressing the most in the North American region as it is a technologically advanced region, topping the world when it comes to the presence of the cyber incidents and security vendors. With the world moving towards the digitalization and interconnections, protecting enterprise-critical infrastructures and the sensitive data are becoming a huge challenge. The North American region adopted early to the solutions and services all over the world. The most crucial contributor here was the United States where they are adopting to this market.

The Asia Pacific region also is growing considering it is home to some of the most emerging economies such as Japan, China, India and Singapore. They are highly concerned with the increasing security spending due to the threat and the landscape of cyber-attacks. The Small and medium enterprises are established here and cater to a huge customer base. The machine learning, IoT and AI are growing components of the region and need cybersecurity to protect from fraud and malware.

There is also a cyber security market report for the regions below if you have special requirements:

North America

  • U.S, Canada

Europe Cybersecurity market

  • Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

  • South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

  • Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

  • Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

Source: Brandessence Market Research And Consulting Private Limited