Cyber Security Market Worldwide Top Players Revenue Analysis of International Business Machine, Hewlett Packard Enterprise, Intel, Sophos, Symantec Corporation And FireEye Incorporated

Cyber security provides protection to data, hardware, and software from cyber-attacks and damage caused by Internet, data and code injection. Cyber security allows organizations to protect their data from cyber-attacks by providing solutions such as incident management, Unified Threat Management (UTM), risk and compliance management, and Identity and Access Management (IAM). Increasing demand for cyber security solutions due to increasing incidences of cyber-attacks is major factor driving growth of the cyber security market.

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The data stored on cloud or on-premises is vulnerable to cyber-attacks by various software such as Trojan horses and viruses, which consequently increases the requirement of cyber security solutions. Furthermore, increasing adoption of cyber security by industries such as banking, finance and insurance, government and military, and retail and manufacturing is another factor driving growth of the market.

"Banking, financial services, and insurance segment is projected to be largest segment in the market by 2025"

The banking and finance sector is witnessing significant changes due to adoption of IT solutions for improvement of banking services. 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.

Moreover, increasing number of payment gateways, e-Commerce websites, and mobile application that accept online transactions and store credit card and debit card information are also susceptible to hacking. According to the Reserve Bank of India (RBI), for the year 2015 – 2016, an estimated 16,468 frauds were reported associated with ATM, debit card, credit card, and net banking. In 2014 – 2015 the number of frauds were 13,083 and 9,500 in the year 2013 – 14, reported by RBI. These factors are expected to fuel growth of cyber security market over the forecast period.

"Key Players"

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.

Cyber Security Market Taxonomy

On the basis of component, the global cyber security market is segmented into:

- Services
- Solutions

On the basis of security type, the global cyber security market is segmented into:

- Network Security
- Application Security
- Cloud Security
- End-Point Security
- Wireless Security

On the basis of deployment mode, the global cyber security market is segmented into:

- Cloud
- On-Premises

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

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