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The global cybersecurity market was valued at US$ 149.7 Billion in 2020, analysis shows that the market sees an opportunity of US$ 197 Bn during 2021-2027. The market is witnessing a compound annual growth rate (CAGR) of 13.40% during the forecast period. The study of the global cybersecurity market provides the market growth during the forecast period, impacts of COVID-19 in the market, and its recovery, the report also shows the challenges occurring in the market. The report presents a detailed analysis of the global cybersecurity market across 13 chapters, totaling 207 pages, with 38 extensive data tables and 90 figures.
Storing personal information and sensitive data increases the inherent risk and residual risk, driven by worldwide connectivity and usage of cloud-based services like Amazon Web Services. The worldwide spread of cloud services with increasing modernized cybercriminals can risk the organization with the rising number of data breaches or cybercrime. Organizations can’t rely fully on firewalls and antivirus software to prevent data breaches or cybercrimes.
Cybersecurity plays an important role as it protects all types of cybercrimes and data theft and damages, which includes sensitive data like personal information, protected health information (PHI), personally identifiable information (PII), and industrial and governmental information system.
The report provides a comprehensive analysis and detailed study of the global marketplace, related to cybersecurity growth and opportunity in the global market, due to increasing sophisticated cybercriminals and data theft and damage of personal information, and increasing need for cybersecurity. The regions tracked and analyzed for the study of the global cybersecurity market are North America, Europe, Asia Pacific, Middle East, and South America. North America holds the highest market share of 36% because there is an eminent presence of several prominent market players and increasing strategic investments by these companies.
The report also includes a detailed analysis of the following segments – By Components, By Security Type, By Deployment, By Application, and By Enterprise Size. Cloud Security is the dominating segment of Security Type with estimated revenue of US$ 46.4 Billion in 2020. Cloud security is applicable to public and hybrid cloud platforms such as Amazon Web Services (AWS) and Azure. An increasing number of organizations using cloud security to support both at-office and home-based working environments contributes to the positive growth of Cloud Security in the market.
Further, the report offers our readers exclusive insights on the increasing need for cybersecurity to prevent data theft and damages.
The Global Cybersecurity Market report provides the market’s recent developments, analysis opportunities, and a 360-degree view of the market in terms of market share, market competition, market concentration rate.
The analysis shows a rising number of data breaches incident across the globe. Around 64% of the total stolen data records statistics happened withinside the United States. Countries like China and India also are predominant facilities of records breaches. Cybercriminals earn up to $2.2 million through form jacking attacks by stealing only 10 credit cards per website. Further, the report provides the hindrances the market faces like low cybersecurity budget and high installation charges, lack of cybersecurity expertise, the lack of cybersecurity skills gap is one of the main hindrances in the growth and protection of the company’s confidential information. The number of vacant cybersecurity jobs is expected to increase by 350%, from 1 million jobs in 2013 to 3.5 million in 2021. The World Economic Forum (WEF) journal observed that nowhere is the workforce-skills gap more pronounced than in cybersecurity.
The report provides the price analysis section where several security products and solutions like firewall, email protection, two-factor authentication, and other security methods are used by the key players to prevent data theft and damages, firewall is the most expensive among all the security methods which range from US$ 400 to US$ 6,000.
The global cybersecurity market report also provides the readers with an overview of the challenges that are faced by the cybersecurity industry. The report shows how the market is recovering COVID – 19 impacts and the estimates to grow in the forecast period.
The report shows a detailed study of the impacts of COVID – 19 and followed pandemic on the global cybersecurity market.
As per the report, Covid-19 graph shows our readers how the global cybersecurity market started falling in mid of 2019 due to government restrictions, as organizations suffered cyber-attacks many companies focused on the adoption of cybersecurity methods and software, the market increasingly grew in mid-2020 as a working pattern changed to work from home and expect to increase cybercrimes boosted the cybersecurity market.
The study shows that the restrictions imposed by governments across the world to prevent the spread of COVID-19 have encouraged companies to shift their working pattern from offices or on-location to work from home. This sudden shift in working culture in major countries allowed increased scope to cyber-attacks at individual and enterprise levels.
The Global Cybersecurity Market report provides detailed company profiling of several companies.
Details covered in the report for companies include recent developments, strategic outlook, business overview, company financials, and product list. The key players included in the report are MacAfee, Trend Micro Incorporated, IBM Corporation, Microsoft, BAE Systems, Inc., Check Point Software Technology Ltd., F5 Networks, EMC Corporation, FireEye, Inc., Proofpoint Inc., Sophos PLC, Fortinet, Inc., Cisco Systems Inc., Symantec Corporation, Juniper Networks, Palo Alto Networks, Inc. and Qualys Inc. among others.
The Global Cybersecurity Market is divided into six segments based on Component, Security, Deployment, Application, Enterprise Size, and Region.
By Enterprise Size
|Market Size Value in 2020||US$ 149.7 Bn|
|Expected Revenue in 2027||US$ 346.0 Bn|
|Unit||Value (USD Bn)|
|Segments covered||By Component, Security, Deployment, Application, Enterprise Size, and Region.|
|Regional Scope||North America; Europe; Asia Pacific; Middle East & Africa; South America|
|Key Companies||MacAfee, Trend Micro Incorporated, IBM Corporation, Microsoft, and other prominent players.|
|Customization Scope||Get your customized report as per your preference. Ask for customization|
Cybersecurity is the process to protect and recover network, computer system, data, and personal information from all types of data theft and cyberattacks.
Increasing inherent and residual risk, driven by worldwide connectivity, spread of cloud services with increasingly modernized cybercriminals can risk the organization with data breach or cybercrime, cybersecurity plays a core role in protecting networks and data from cybercrimes.
In the study conducted by Astute Analytica, the Global Cybersecurity market was valued at US$ 149.7 Bn in 2020.
The report segmented market into following segments: By components (2 sub-segments), by security (5 sub-segments), by development (2 sub-segments), by application (7 sub-segments) and by enterprises size (2 sub-segments).
Global Cybersecurity market experienced a fall in growth rate during 2020 due to rapid shift in priorities of corporates during the time. However, the market is expected to recover by the end of 2021 because companies are being forced to take stronger action amid the increase of cyber attacks during Covid-19.
The key players included in the report are MacAfee, Trend Micro Incorporated, IBM Corporation, Microsoft, BAE Systems, Inc., etc.
Top players in the global market hold around 41.60% market share.
Network Security, Endpoint Security, Application Security, Cloud Security are some key types of Cybersecurity.
MacAfee, Trend Micro Incorporated, IBM Corporation, Microsoft, BAE Systems, Inc., Check Point Software Technology Ltd., Check Point Software Technology Ltd., F5 Networks, EMC Corporation, FireEye, Inc., Proofpoint Inc., Sophos PLC, Fortinet, Inc., Cisco Systems Inc., Symantec Corporation, Juniper Networks, Palo Alto Networks, Inc., Qualys Inc. are some of the companies that provide cybersecurity across the world.
According to the study conducted by Astute Analytica, the Global Cybersecurity market is estimated to reach US$ 346 Bn by 2027.
In 2020, North America has the highest share in the Global Cybersecurity market.
Growing demand for cybersecurity mesh, rising number of data breach incidents, rapid technological advancement and Increasing penetration of IoT devices are what drives the Cybersecurity market up.
Cisco is the largest Cybersecurity company, with around 16% of the market share.