Cyber Security Market is Projected to Grow at a CAGR of 13.5% over the Forecast Years (2019 - 2027), with Growing Investments by Financial firms for Cyber Security: says Absolute Markets Insights.

The banking and financial services industry has a long history of providing exceptional value and deep confidence in a world full of risk. Financial institutions manage and operate large networks that process endless volumes of sensitive information. This industry has the biggest data centers and the highest IT security and regulatory compliance risk exposure. Banks also facilitate countless monetary transactions on a day-to-day basis. This largely causes banking and financial institutions to be the prime target for cyber-attacks. Cyber-crimes are increasingly impacting financial services firms and eroding customer trust. According to a global economic crime survey conducted in 2014, cyber-attacks were found to be one of the most common types of economic crimes reported by financial services respondents. The sampling of data breeches indicated that confidential customer data and proprietary intelligence is increasingly subject to theft. In 2014, JP Morgan Chase and Citigroup reported data breech attacks on 83 million accounts and 360 thousand accounts, respectively. These concerning developments are compelling the banking and financial service industry to seek reliable cyber security solutions. This sector is increasingly adopting several cyber security methods such as email encryption, risk and compliance management, identity and access management, firewall and unidentified threat management. The demand for these cyber solutions is on the rise and is further expected to grow in the coming years owing to their crucial application in the cyber security market.

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“The impact of security breaches on banks and financial institutions does not only end with serious financial losses but, can also potentially erode substantial brand value. The industry is therefore taking steps in the right direction by recognizing the urgent need to strengthen their cyber security posture in the wake of the increasingly sophisticated nature of attacks. This is expected to boost the growth of the cyber security market in the years to come.”

This research study aims at providing the reader with quantitative and qualitative analysis of the global cyber security market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further, across all the major countries. The supply side analysis covers the prominent players and their regional and global presence and key business strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa, and Latin America.

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The primary market participants in cyber security market include Accenture, Alert Logic, Inc., Armor Defense Inc., AT&T, Atos SE, Barracuda Networks, Inc., Booz Allen Hamilton Inc., Capgemini, CenturyLink, DXC Technology Company, GeekTek IT Services Inc., HCL Technologies Limited, IBM Corp., Kraft Technology Group LLC, LAN Infotech, Online Business Systems, Optiv Security Inc., Orange Business Services, SecureWorks, Inc., Sequoia Cyber Solutions, Symantec Corporation, Tata Consultancy Services Limited, TechWerxe, Trustwave Holdings, Inc., Verizon and Wipro Limited amongst several others.

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Cyber Security Market:
• By Deployment
o On-Premise
o Cloud-based

• By Organization Size
o Small and Medium Enterprise
o Large Enterprise

• By Application
o Network Security
o Application Security
o End Point Security
o Cloud Security
o Others (Mobile Security, Data Security, etc.)

• By Solution Type
o Identity and Access Management (IAM)
o Risk and Compliance Management
o Encryption Data Loss Prevention
o Unified Threat Management
o Firewall
o Others (Web Filtering, Intrusion Detection System etc.)

• By Service Type
o Professional Service
o Managed Service

• By Vertical
o BFSI (Banking, Financial Services and Insurance)
o Government
o IT and Telecom
o Aerospace and Defense
o Others (Education, Retail, etc.)

• By Geography
o North America
 U.S.
 Canada
 Mexico
 Rest of North America

o Europe
 France
 The UK
 Spain
 Germany
 Italy
 Nordic Countries
 Denmark
 Finland
 Iceland
 Sweden
 Norway
 Benelux Union
 Belgium
 The Netherlands
 Luxembourg
 Rest of Europe

o Asia Pacific
 China
 Japan
 India
 New Zealand
 Australia
 South Korea
 Southeast Asia
 Indonesia
 Thailand
 Malaysia
 Singapore
 Rest of South Asia
 Rest of Asia Pacific

o Middle East and Africa
 Saudi Arabia
 UAE
 Egypt
 Kuwait
 South Africa
 Rest of Middle East & Africa

o Latin America
 Brazil
 Argentina
 Rest of Latin America

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Absolute Markets Insights assists in providing accurate and latest trends related to consumer demand, consumer behavior, sales, and growth opportunities, for the better understanding of the market, thus helping in product designing, featuring, and demanding forecasts. Our experts provide you the end-products that can provide transparency, actionable data, cross-channel deployment program, performance, accurate testing capabilities and the ability to promote ongoing optimization.
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