The global cyber security market is
expected to reach USD 205.51 billion by 2024, according to a new report by
Grand View Research, Inc. The dependence of enterprises on information
technology and sensitive nature of digitally stored data has raised the stake
for cyber-attackers with financial gain becoming a primary motive.
Solution providers are indulging in research and development to develop
next-generation security solutions. For instance, Science Applications
International Corporation (SAIC) has developed an innovative cybersecurity
technology that helps government protect critical data, mitigate risks, and
establish a comprehensive defense against cyber-attacks. There is also a
greater emphasis on the intelligence-led security as conventional security
technologies, such as web, content management and network security, are failing
to deliver the tracking of security incidents.
The cybersecurity industry is expected to witness high demand for
cloud-based applications as government organizations are opting for the cloud
platform for data sharing.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/cyber-security-market
Further key findings from the report suggest:
- The services segment is anticipated to grow at a CAGR of over 12% from 2016 to 2024. The growing demand for Security-as-a-Service (SaaS) and cloud-based solutions is expected to provide growth opportunities
- Healthcare industry is expected to reach over USD 30 billion by 2024. The health insurers are the prime target of the cyber-attacks, such as Advanced Persistent Threats (APTs) and spear phishing. The crimes and breaches in this sector are rising as the cost of stolen medical record is increasing.
- The North American cybersecurity industry is anticipated to reach over USD 61 billion by 2024. The increasing cybercrime costs are enabling the region to focus on building a strong resilience system for managing cybercrimes.
- MEA is expected to grow at a CAGR of over 12.5% from 2016 to 2024. The region is adopting digital technologies and applications at a faster pace, increasing the risk of cyber-attacks. The expansion of digitization throughout the region has made cybersecurity a necessity for organizations.
- The major players in the cybersecurity market include Fortinet Inc., Checkpoint Software Technologies Ltd, Cisco Systems Inc., Trend Micro Inc. and Symantec Corporation. The companies in the cyberspace are focusing on reducing the costs incurred in implementing security strategies by moving from solution-based products to service offerings The growing trend of security-as-a-service is increasing the adoption of services and key players are integrating with major service providers to fulfill consumer demand.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/network-security-software-and-services
Grand View Research has segmented the cyber security market on the basis of component, security type, solutions, services, deployment, organization, application, and region:
Cyber security Component Outlook (Revenue, USD Billion, 2014 - 2024)
·
Solution
·
Services
Cyber security Security Type Outlook (Revenue, USD Billion, 2014 -
2024)
·
Enterprise security
·
Endpoint security
·
Cloud security
·
Network security
·
Application security
·
Others
Cyber security Solution Outlook (Revenue, USD Billion, 2014 - 2024)
·
UTM
·
IDS/IPS
·
DLP
·
IAM
·
SIEM
·
DDoS
·
Risk and compliance
·
Others
Cyber security Services Outlook (Revenue, USD Billion, 2014 - 2024)
·
Professional services
·
Managed services
Cyber security Deployment Outlook (Revenue, USD Billion, 2014 -
2024)
·
Cloud
·
On-premise
Cyber security Organization Outlook (Revenue, USD Billion, 2014 -
2024)
·
Small and medium enterprise
·
Large enterprises
Cyber security Application Outlook (Revenue, USD Billion, 2014 -
2024)
·
IT & Telecom
·
Retail
·
BFSI
·
Healthcare
·
Defense/government
·
Automotive
·
Others
Cyber security Regional Outlook (Revenue, USD Billion, 2014 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
U.K.
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
·
MEA
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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