New York – According to a report published by Next Move Strategy Consulting, the global Cyber Security Market size generated USD 197.44 billion in 2021, and is projected to generate USD 657.02 billion by 2030, witnessing a CAGR of 12.8% from 2022 to 2030. The research offers a detailed analysis regarding drivers, restraints, and opportunities to highlight changing market dynamics of the industry. Moreover, the research provides an extensive analysis of major segments and their sub-segments to determine fastest-growing and highest revenue-generating segments.
Equipping the extensive analysis of each and every aspect of the market in 326 pages, accompanied by 238 tables and 202 figures, the report aims to become a source of guidance for market players, investors, and startups as they device strategies for next few years to achieve sustainable growth. Moreover, the research outlines the COVID-19 analysis to highlight impact on the global cyber security market analysis.
The report offers a comprehensive analysis of the cyber security industry dynamics based on drivers, restraining factors, and opportunities. Malware including viruses and trojan horses has significantly increased the capacity of cybercrimes to infiltrate, take over, and damage entire electronic information networks, which in turn drive growth of the cyber security insurance. However, high cost and lack of cyber security experts restrains the market growth.
Lead Analyst for ICT & Media at Next Move Strategy Consulting, stated “Introduction of blockchain technology along with AI is expected to create new opportunities for the market in the coming years.”
North America accounted for the highest cyber security market share in 2021, and is expected to dominate the market, throughout the forecast period. This is attributed to factors such as increase in usage of cloud-based solutions by various industries including defence and healthcare, owing to technological advancements and high expenditure of governments, which drive the market growth. On the other hand, Asia pacific is estimated to grow steadily in cyber security market trends during the forecast period, due to growing external threats including malware activities and phishing from various neighboring countries.
The cyber security market analysis offers an analysis of each region and its countries based on segments and their sub-segments to outline steps to be taken to consolidate presence in the cyber security industry. This analysis is also helpful in determining highest-revenue generating and fastest-growing segments and taking the next steps accordingly.
The report offers an extensive analysis of competitive landscape of the global cyber security industry. Some of the major market players in the manufacturing of cyber security industry are IBM, Cisco Systems Ltd., Norton Lifelock, Fortinet Inc., Check Point Software Technologies Ltd., Trend Micro, Amazon Web Services, Microsoft, Proofpoint Inc, Trellix and Palo Alto Networks.
Source: Next Move Strategy Consulting
