Global Cybersecurity Market Size, Trends & Analysis - Forecasts to 2026 By Component (Solution, Service), By Product (Threat Intelligence, Encryption, Data Loss Prevention, Unified Threat Management, Firewall, Antivirus/Antimalware, Intrusion Detection Systems/Intrusion Prevention Systems, Disaster Recovery, Distributed Denial Of Service Mitigation, Web Filtering, Others), By Service (Professional Services, Managed Security Services), By Security Type (Network Security, Endpoint Security, Application Security, Cloud Security, Others), By Deployment Type (Cloud, On-Premises), By Organization Size (Large Enterprises, Small and Medium-sized Enterprises), By Vertical (BFSI, Government and Defense, Energy and Utilities, Healthcare, IT and Telecom, Manufacturing, Retail, Others), By Region (North America, Europe, Asia Pacific and Rest of the World); Vendor Landscape, End User Landscape and Company Market Share Analysis & Competitor Analysis
Cybersecurity Market Insights
The global cybersecurity market is estimated to witness a high CAGR during the forecast period (2019-2026). Growing malware and phishing threats, and growth in adoption of IoT are some of the factors driving the market growth. Cybersecurity solutions help an organization to monitor, detect, report, and counter cyber attacks in order to maintain data secure. Growing trend for AI and Machine learning in cybersecurity is increasing in developed and developing countries across the globe. The continuing use of pirated security software, and lack of training and inadequate workforce are likely to hamper the market growth during the forecast period.
Cybersecurity Market: By Component
On the basis of component, the global cybersecurity market is segmented into solution, and service. The services segment is expected to hold the highest CAGR during the forecast period. Growing use of cloud based security solutions for managing critical services is one of the significant factor to drive the service market growth during the forecast period. The solution segment is anticipated to grow at high CAGR due to increase in need to monitor external and in-house threats for large and small & medium enterprises during the forecast period.
Cybersecurity Market: By Deployment Type
On the basis of deployment type, the global cybersecurity market is segmented into cloud and on-premises. The cloud segment is expected to hold the highest CAGR in terms of revenue during the forecast period. Organizations are switching from on-premises to cloud-based solutions due to the cost-effectiveness of the originals. Furthermore, growing adoption of public cloud is driving the demand for cloud-based safety solutions.
Cybersecurity Market: By Solution
On the basis of solution, the market is segmented into threat intelligence, encryption, data loss prevention, unified threat management, firewall, antivirus/antimalware, intrusion detection systems/intrusion prevention systems, disaster recovery, distributed denial of service mitigation, and web filtering, among others. The encryption segment is expected to hold the highest CAGR during the forecast period. It is rapidly accepted by various organizations, as critical data is stored on cloud through multiple verticals.
Cybersecurity Market: By Service
On the basis of services, the market is segmented into professional services, and managed security services. The managed security services is anticipated to hold the highest market share in terms of revenue during the forecast period. Due to increasing cybercrime Managed service providers (MSPs) are helping small to medium-sized businesses to develop cyber expertise through various services such as mitigation, monitoring to remediation.
Cybersecurity Market: By Organization Size
On the basis of organization size, the market is segmented into large enterprises, and small and medium-sized enterprises. The large enterprises segment is expected to account for the largest market share in terms of revenue during the forecast period. Growing adoption of effective security solutions by large enterprises is expected to drive the market growth.
Cybersecurity Market: By Vertical
On the basis of vertical, the cybersecurity market is segmented into BFSI, government and defense, energy and utilities, healthcare, IT and telecom, manufacturing, and retail, among others. The government and defense vertical is estimated to account for the largest market share, in terms of revenue, during the forecast period (2019-2026) followed by healthcare, and BFSI sector. Growing number of security breaches, research & development activities and increase in adoption of smartphones, internet banking are the major factors driving the cybersecurity market.
Cybersecurity Market: By Region
North America is expected to witness considerable growth in the cybersecurity market during the forecast period. Growing awareness of cybersecurity among small and medium organizations is expected to propel the demand for cybersecurity solutions during the forecast period. The expanding manufacturing sector and increasing foreign investments in the region are the major factors driving the cybersecurity market growth. Europe is recognized as the second largest region in terms of revenue during the forecast period. Asia-Pacific is expected to hold the highest CAGR during the forecast period. The growing cybercrime activities in countries such as China and India are moving towards digitization across different industry verticals is propelling the market growth in this region.
Cybersecurity Market: End Use Landscape
The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section briefs you about company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase. The key end-users of the markets are Walmart, HDFC, and Amazon, among others.
Cybersecurity Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the cybersecurity market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Cybersecurity Market Share & Competitor Analysis
Some of the key players operating in the cybersecurity market are Aws, Check Point Software Technologies, Cisco Systems, CyberArk, F5 Networks, FireEye, Forcepoint, Fortinet, F-Secure, IBM Corporation, Imperva, Juniper Networks, McAfee, Micro Focus, Microsoft, Oracle, Palo Alto Networks, Proofpoint, Qualys, Rapid7, RSA Security, Sophos, Splunk, Symantec, and Trend Micr, oamong others.
In October 2019, Oracle has signed a partnership agreement to acquire CrowdTwist. The company is recognized as the leading provider of comprehensive multichannel loyalty and analytics solutions.
In April 2018, IBM Security and McAfee extended their partnership to integrate IBM IRP with Data Exchange Layer (DXL) so as to provide better protection through automation and intelligence sharing.
Please note: This is not an exhaustive list of companies profiled in the report.
Check the Press Release on Global Cybersecurity Market Report
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The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Cybersecurity Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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