Press release
Cyber Security Market Dominated By Key Players Hewlett Packard Enterprise (HPE), Intel Corporation, Sophos, Symantec Corporation, McAfee, FireEye Incorporated And Trend Micro Incorporated
Cyber Security Market
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"Banking, financial services, and insurance segment is projected to be largest segment in the market by 2025"
Increasing adoption of online transactions and increasing use of services such as National Electronic Fund Transfer (NEFT), Real-time Gross Settlement Systems (RTGS), Electronic Clearing Service (ECS), and mobile transactions has propelled demand for security solutions to carry out these tractions safely and securely, as online transactions are vulnerable to hacking.
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On the basis of end-use industry, the global cyber security market is segmented into:
- Aerospace and Defense
- Government
- Banking, Financial Services, and Insurance
- IT and Telecom
- Healthcare
- Retail and Manufacturing
- Energy and Utilities
"North America accounted for the largest market share in the global cyber security market"
On the basis of region, the global cyber security market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America accounted for largest market share in global cyber security market in 2017, owing increasing number of cyber-attacks in this region. U.S. accounted for the major market in the region, owing to constant cyber-attacks on industries such as healthcare, banking and financial, and retail and manufacturing.
According to the Internet Crime Complaint Center (IC3), in 2016, cybercrimes were valued at over US$ 1.33 billion worldwide, where California witnessed the recorded loss of over US$ 255 million. Moreover, in 2016, about 28% of web application attacks were recorded in the U.S., followed by the Netherlands and Germany.
"Key Companies"
Major players operating in the global cyber security market include International Business Machine (IBM) Corporation, Dell EMC, Hewlett Packard Enterprise (HPE), Intel Corporation, Sophos, Symantec Corporation, McAfee, FireEye Incorporated, Cisco Systems, and Trend Micro Incorporated.
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