Cyber Security Market World's Top Players Include 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 and financial sector is the major end user of cyber security, as it uses cyber security to protect private data or cash related to customers, which is highly susceptible to cyber-threats. Increasing adoption of mobile devices is expected to boost growth of the market. For instance, according to Coherent Market Insights analysis, in 2016 over 68% of global population is already using mobile phones.

"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.

"Key Companies in the global cyber security market"

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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"Cyber Security Market Taxonomy"

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 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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This release was published on openPR.