Cyber Security Market Fueling Up to a CAGR of 15.5% by 2022 - Cisco Systems, Trend Micro, IBM Corporation, FireEye, Symantec Corporation, Intel Corporation, Sophos, Verizon Communications
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Allied Market Research has published a report, titled, Cyber Security Market - Global Opportunity Analysis and Industry Forecasts, 2014 - 2022. As per the report, the global cyber security market is expected to generate $198 billion by 2022, registering a CAGR of 15.5% from 2016 to 2022. The report offers insights on market segmentation, drivers & opportunities, and market players to help investors, stakeholders, and new entrants to gain insights on current market trends and future opportunities. The report outlined that the BFSI and public sector would dominate the market in next few years. In 2015, North America was the highest contributor to the revenue worldwide. The report outlines that Asia-Pacific would dominate the market by 2022.
The report offers insights on drivers, restraints, and opportunities of the global cyber security market. The market is driven by an increase in malware and phishing threats across various verticals such as BFSI, healthcare, retail, and energy & utilities. Moreover, growth in popularity of mobile devices and rise in adoption of enterprise mobility would drive the market growth. However, budgetary constraints and lack of security awareness initiatives would limit the market growth. Developments in technologies such as Unified Threat Management (UTM), implementation of firewalls, and social media control through cloud-based platform would create numerous opportunities for the growth in the market.
The report segments the global cyber security market based on solutions, services, deployment type, user type, industry verticals, and geography. Solutions offered in the research are risk and compliance management, security incident management, unified threat management (UTM), identity and access management (IAM), intrusion prevention systems, encryption, and others. The UTM segment dominated the overall market in terms of revenue in 2015 and estimated to register a CAGR of 11.9% throughout the forecast period. Moreover, risk and compliance management service would register a CAGR of 16.1% during the forecast period, becoming one of the most lucrative solutions segment. Services analyzed in the research are professional services and managed services. Managed services would grow at the CAGR of 20.3% from 2016 to 2022, registering the highest growth. Deployment types analyzed in the research are cloud and on-premise. Cloud-based deployment is expected to generate the highest revenue by 2022, growing at a CAGR of 17.7% during the forecast period.
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User types analyzed in the research are large enterprises and small & medium enterprises (SME). SME segment would register a CAGR of 18.5% from 2016 to 2022. Industry verticals discussed in the report are manufacturing, BFSI, public sector, aerospace & defense, healthcare, energy & utilities, and IT & telecom. Healthcare sector would register the highest CAGR of 17.5% during the forecast period. Geographically, the market is explored based on North America, Europe, Asia-Pacific, and LAMEA. In 2015, North America dominated the market. However, Asia-Pacific is estimated to dominate the market by 2022 owing to rise in the rate of penetration of internet in countries including China, India, Malaysia, Japan, and Singapore. Asia-Pacific region would register a remarkable CAGR of 17.8% during the forecast period.
Market players have focused on product launches, acquisition, and partnership for expanding their presence in the market. For instance, in August 2016, Blue Coat Systems was acquired by Symantec Corporation to introduce new advanced security products and assist clients to achieve their goals. The prominent players of the market include Cisco Systems, Trend Micro, IBM Corporation, FireEye, Symantec Corporation, Intel Corporation, Sophos, Verizon Communications, HPE, and Dell EMC (RSA Security).
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We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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