Quickly rising e-commerce exercises will be the key driver for the worldwide Cyber Security Market development during the estimate time frame. Online business monsters, for example, Amazon are quick expanding their organizations and item contributions and biological system of associated gadgets is getting more extensive and greater. For instance, in 2017, Amazon apparently dispatched in excess of 5 billion items all-inclusive. As indicated by the OECD’s Creditor Reporting System, assets to the tune of USD 6.6 billion were dispensed to advance cross-fringe electronic availability somewhere in the range of 2006 and 2016. Accordingly, as more individuals shop and execute on the web, the worldwide Cyber Security Market income is set to get powered in the figure time frame.
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According to the report by Fortune Business Insights, titled “Cyber Security Market Size, Share & Industry Analysis, By Component (Solutions, Services), By Deployment (On-Premises, Cloud), By Organization Size (SMEs, Large Enterprises), By End-User (BFSI, IT and Telecommunications, Retail, Healthcare, Government, Manufacturing, Travel and Transportation, Energy and Utilities and Others) and Regional Forecast, 2019-2027”, the global Cyber Security Market value is expected to reach USD 289.8 billion by 2027, from its current standing at USD 131.3 billion. The report also contains an in-depth analysis of the various factors and dynamics that will shape the market during the forecast period.
Fortune Business Insights identifies some of the important players in the global Cyber Security Market:
- Palo Alto Networks, Inc.
- Check Point Software Technologies Ltd.
- RSA Security LLC.
- McAfee, LLC
- Symantec Corporation
- Trend Micro Incorporated.
- Qualys, Inc
Key Market Driver –
- Increasing integration of advanced technologies such as AI and machine learning in cybersecurity solutions
- Growing information security regulations across industries
Key Market Restraint –
- Lack of skilled cybersecurity workforce
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1. By Component
- Network Security
- Cloud SecurityApplication Security
- End-point Security
- Professional Services
- Managed Services
2. By Deployment
3. By Organization Size
- Large Enterprises
4. By End-User
- IT and Telecommunications
- Travel and Transportation
- Energy and Utilities
5. By Geography
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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Key Industry Developments
- July 2019- Symantec launched its new cloud access security solution to help organizations secure cloud and internet access. The cloud access security solution enables organizations to reduce operational cost and complexity while lowing the operational risk.
- June 2019 – Check Point Software Technologies, Ltd., one of the leading providers of the cyber security solutions launched a new artificial intelligence-based malware detection engine to its SandBlast Network threat prevention solution. The new Malware DNA engine helps organizations effectively identify and block zero-day threats before the damage.
Increasing Reliance on Artificial Intelligence (AI) Solutions to Enhance Market Potential
According to a study by Capgemini, 21% of the companies surveyed reported that they experienced security breaches as their businesses grew. The survey also found out that two-thirds of the companies believe that the implementation of AI will strengthen their security infrastructure. AI technologies are expected to be further augmented by advancements in Machine Learning (ML). This bodes well for the global Cyber Security Market as application AI software gains popularity in the private and public sectors.
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Table of Content
5. Global Cyber Security Market Analysis, Insights and Forecast, 2015-2027
5.1. Key Findings / Summary
5.2. Market Size Estimates and Forecasts
5.2.1. By Component (Value)
126.96.36.199.1. Network Security
188.8.131.52.2. Cloud Security
184.108.40.206.3. Application Security
220.127.116.11.4. End-point Security
18.104.22.168.1. Professional Services
22.214.171.124.2. Managed Services
5.2.2. By Deployment (Value)
6. North America Cyber Security Market Analysis, Insights and Forecast, 2015-2027
6.1. Key Findings / Summary
6.2. Market Size Estimates and Forecasts
6.2.1. By Component (Value)
126.96.36.199.1. Network Security
188.8.131.52.2. Cloud Security
184.108.40.206.3. Application Security
220.127.116.11.4. End-point Security
18.104.22.168.1. Professional Services
22.214.171.124.2. Managed Services
6.2.2. By Deployment (Value)
6.2.3. By Organization Size (Value)
126.96.36.199. Large Enterprises
6.2.4. By End-User (Value)
7. Europe Cyber Security Market Analysis, Insights and Forecast, 2015-2027
7.1. Key Findings / Summary
7.2. Key Policies and Regulations
7.3. Market Size Estimates and Forecasts
7.3.1. By Component (Value)
188.8.131.52.1. Network Security
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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