Cyber Security Market by 2022 With Key Leading Players Such as Cisco Systems, Trend Micro, IBM Corporation, FireEye, Symantec Corporation, Intel Corporation, Sophos, Verizon Communications , HPE, and Dell EMC (RSA Security).
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.
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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).
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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The cyber security market in Asia-Pacific is projected to grow at a significant rate during the forecast period, owing to the increase in cyber-attacks in emerging economies such as India, China, and Japan. Furthermore, the growth in infusion and government initiatives such as Smart Cities, Digital India, and Digital Locker demand the need for better security of both critical infrastructure and sensitive information
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