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The Global Cyber Security Market size was valued at USD 183.34 billion in 2020 and is predicted to reach USD 539.78 billion by 2030, with a CAGR of 11.6% from 2021-2030.
Cyber Security provides protection against phishing, malware, ransomware, cyber-scams, identity theft, cyber theft, cyber-attacks, and other types of cybercrimes. It is also known as information technology security. Over the period of time there has been increase in the internet penetration with increase in the number of enterprises. Also, increase in technological advancement and developments in infrastructure are expected to enhance the growth of cyber security market. The other factors include increasing use of integrated system coupled with rising cyber-crimes with growth in awareness are further expected to support the market growth. However, complex nature of regulatory policies, along with unmet industry standards are expected to inhibit the growth of cyber security market during the forecast period.
The global cyber security market share has been analyzed based on components, user type, deployment, industry vertical and geography. Based on components, the market is segmented into solution and services. The solutions segment is further sub segmented into Identity and Access Management (IAM), infrastructure security, governance, risk, & compliance, unified vulnerability management service offering, and data security and privacy service offering. Based on user type, the market is large enterprises and Small & Medium Enterprises (SMEs). Based on deployment, the market is further categorized into cloud and on-premise. Based on industry vertical, the cyber security market is bifurcated into BFSI, IT & telecom, aerospace & defense, public sector, retail, healthcare, energy & utilities, manufacturing, and others. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
North America is expected to dominate the cyber security market in terms of market share owing to the increasing adoption of cyber security and rising number of cyber-attacks. Also, presence of advanced technology and developed infrastructure and growing use of integrated systems are factors expected to augment the market growth in this region.
Asia Pacific is expected show tremendous growth with constant rise in market share owing to the increase in IT spending, rise in the number of enterprises and growing awareness regarding cyber security in this region.
Key Topics Covered:
2. Market Snapshot, 2019-2030 Million Usd
3. Porter’s Five Force Model Analysis
4. Market Dynamics
4.1. Growth Drivers
5. Global Cyber Security Market, by Product
6. Global Cyber Security Market, by Deployment Type
7. Global Cyber Security Market, by User Type
7.2. Small and Medium Enterprises
7.3. Large Enterprises
8. Global Cyber Security Market, by Industry Vertical