Cybersecurity Market to Reach US$ 248.26 Billion by 2023 | Top Technologies, Overview, Key Insights and Company Profiles

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The Cybersecurity Market size to grow from US$ 152.71 Billion in 2018 to US$ 248.26 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.2% during the forecast period. The market growth is expected to bedrivenby the increasing government compliances and regulatory requirements; the emergence of disruptive digital technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), and big data analytics; and the growing sophistication level of cyber-attacks.

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The IAM solutions segment is estimated to hold the largest market share in 2018.IAM solutions play a critical role in managing enterprises’ electronic and digital identities.These solutions help businesses improve their security posture by offering centralized visibility and control of users’ access. IAM solutions have registered tremendousadoptionin recent years, as they can be quickly and cost-effectively integrated with IAM policies across on-premises and cloud environments.

“Under security types, the network security segment is expected to hold the largest market size during the forecast period”:
The network security segment is expected to hold the largest market size during the forecast period, and this growth can be attributed to the rising number of network security breaches wherein hackers try to illegally gain access to sensitive data. As vulnerabilities have become more complex and sophisticated, the demand for network security products is expected to increase for countering threats.

“North America is expected to hold the largest market share, whereas Asia Pacific (APAC) to grow at the highest CAGR during the forecast period”
North America is estimated to hold the largest market size and dominate the global cybersecurity market in 2018, due to the presence of a large number of cybersecurity vendors. Increasing information security challenges, due to network complexities, along with the need to meet the strict compliance regulations and enhance employees’ productivity, are pushing organizations in North America to adopt cybersecurity solutions. APAC is expected to offer significant growth opportunities to vendors in the cybersecurity market, as countries in this region are investing heavily in deploying cybersecurity and compliance management solutions.

The Study Objectives of this report are:

• To forecast the market size of the market segments with respect to the 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America

• To define, describe, and forecast the cybersecurity industry by component (solutions and services), security type, deployment mode, organization size, industry vertical, and region.

• To provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of cybersecurity industry.

• To analyze opportunities in the market for stakeholders by identifying high-growth segments of the cybersecurity market.

• To profile the key players of the cybersecurity industry and comprehensively analyze their market size and core competencies in the market.

• To track and analyze competitive developments, such as new product launches; mergers and acquisitions; and partnerships, agreements, and collaborations in the global cybersecurity industry.

#Top Key Players in the “Cybersecurity Market” include are IBM (US), Check Point (US), Cisco (US), CyberArk (Israel), F5 Networks (US), FireEye (US), Forcepoint (US), Fortinet (US), Amazon Web Services (US), Oracle (US), Palo Alto Networks (US), Imperva (US), Qualys (US), RSA Security (US), F-Secure (Finland), McAfee (US), Micro Focus (UK), Microsoft (US), Proofpoint (US), Rapid7 (US), Sophos (UK), Splunk (US), Symantec (US), Trend Micro (Japan), and Juniper Networks (US).

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#Target Audience for Cybersecurity Market:
• Cybersecurity vendors
• Information security consultants
• Independent software vendors
• Security system integrators
• Government agencies
• Value-Added Resellers (VARs)
• Consulting firms
• Managed Security Service Providers (MSSPs)

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