Cybersecurity Market Technology Growth Analysis By Oracle Corporation, Palo Alto Networks, IBM Corporation, Rapid7, Symantec Corporation, Intel Corporation, Proofpoint, McAfee LLC, Cisco Systems, BAE Systems, CyberArk Software Microsoft Corporation, Splun
The security services market holds over 60% share in the global cybersecurity market. The inexpensive nature of services and the rising adoption of BYOD polices are fostering its adoption among enterprises of all sizes. The network security market is also projected to grow at a CAGR of over 15% over the forecast time period. The rising penetration of integrated security solutions & IP traffic is fueling its adoption network security solutions.
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Another factor propelling cybersecurity market growth is the increasing need among organizations to minimize the security risks. With the increasing adoption of cloud platforms & other network solutions, organizations are becoming more exposed to external breaches. This has driven the companies to increase their budgetary allocations for cybersecurity solutions. The increasing penetration of several mobile and wireless devices is also adding to cybersecurity market growth. The availability of inexpensive smart devices and developments in the telecommunication infrastructure is increasing the adoption of mobile devices among enterprises and consumers.
The report presenting a comprehensive exploration of the global Cybersecurity encloses the rate of growth of the Market size over the projected duration. Providing a concise synopsis, the report determines the valuation and size of the Cybersecurity in the near future. It also includes the major contributing factors to the growth of the global Cybersecurity as well as the dominating players in the Market size coupled with their Market size share.
Some of the players operating in the cybersecurity market are BAE Systems, CyberArk Software Ltd., Microsoft Corporation, Splunk, Inc., RSA Security, LLC., Oracle Corporation, Palo Alto Networks, Inc., Symantec Corporation., F5networks, Inc., Check Point Software Technologies Inc., Hewlett-Packard, Ltd., F-Secure Corporation, FireEye, Inc., Fortinet, Inc., IBM Corporation, Rapid7, Sophos Group plc, Intel Corporation, Proofpoint, Inc., McAfee LLC, Cisco Systems, Inc., and Trend Micro, Inc.
The cybersecurity landscape is dominated by large players such as McAfee, Sophos, Symantec, Trend Micro, Check Point Software, and Palo Alto Networks. These players are conducting strategic acquisitions of various start-ups in the market to broaden the product line and strengthen its position in the market. In November 2018, Symantec Corporation acquired Javelin Networks, an Israel-based cybersecurity provider. The products developed by Javelin Networks will be integrated into Symantecs product portfolio to expand its product offerings.
The large enterprise held over 60% share of the cybersecurity market. The market in large enterprises is primarily driven by the increasing financial losses associated with the cybersecurity breaches. The average cost of cybersecurity breaches among large organizations has increased by over 11% in 2017. The government cybersecurity market is expected to grow at a CAGR of over 15% over the forecast time period. The loss of critical data and the erosion of trust in government officials have encouraged public sector agencies to deploy cybersecurity solutions to safeguard its network architecture.
Cybersecurity Market is anticipated to exceed 300 billion by 2024. The market is driven by the increasing frequency of cyber-attacks. This is attributed to the extensive digitalization across multiple business sectors. In the last five years, the financial losses caused due to cyber-attacks have risen by over 62%, encouraging companies to adopt advanced cybersecurity solutions to protect their sensitive information from unsanctioned access. In addition, the rising adoption of IoT devices is also promoting the adoption of cybersecurity solutions. Most of the IoT devices lack basic security features, enabling cybercriminals to exploit the vulnerabilities to conduct various illegal activities.
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The North America region is leading the cybersecurity market with over 40% share in 2017. The increasing investments and acquisition of cybersecurity start-ups by major players in the region are adding to market growth. The European region accounted for over 20% market share of the cybersecurity market in 2017. The rising public-private partnerships and government investments are driving the cybersecurity market in the region. The government has also enforced various regulations, enforcing business establishments of all sizes to use cybersecurity solutions.
Chapter 1. Methodology & Scope
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.6. Methodology & forecast parameters
1.2. Data Sources
Chapter 2. Executive Summary
2.1. Cybersecurity industry 360 degree synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Regional trends
2.1.3. Product type trends
22.214.171.124. IAAM trends
126.96.36.199. Network trends
188.8.131.52. Infrastructure protection trends
184.108.40.206. Security servcies trends
2.1.4. Organization trends
2.1.5. Industry trends
Chapter 3. Global Cybersecurity Industry Insights
3.2. Industry segmentation
3.3. Industry landscape, 2013 - 2024
3.4. Industry ecosystem analysis
3.5. Cybersecurity evolution
3.5.1. Evolution of cyber-attacks
3.6. Regulatory landscape
3.6.1. ISO/IEC 270001
3.6.2. Gramm-Leach-Billey Act of 1999, U.S.
3.6.3. Cybersecurity Law, China
3.6.4. Federal Information Security Management Act (FISMA)
3.6.5. Health Insurance Portability and Accountability Act (HIPAA)
3.6.6. The General Data Protection Regulation (GDPR) (EU)
3.6.7. Directive on Security of Network and Information Systems (NIS Directive) (EU)
3.6.8. The National Institute of Standards and Technology (NIST), U.S.
3.6.9. Cyber Security Framework, Saudi Arabian Monetary Authority (SAMA)
3.7. Technology and innovation landscape
3.7.1. Virtualized firewall
3.7.2. AI and machine learning
3.8. Industry impact forces
3.8.1. Growth drivers
220.127.116.11. Increasing incidents of cyber-attacks
18.104.22.168. Growing need among organizations to minimize security risks
22.214.171.124. Increase in the number of IoT devices demanding network security solutions
126.96.36.199. Penetration of smartphones
188.8.131.52. Increasing demand for enterprise mobility
3.8.2. Industry pitfalls & challenges
184.108.40.206. Lack of IT resources and in-house expertise
220.127.116.11. Lack of knowledge about IAM solutions
18.104.22.168. Limited security budget among SMEs
3.9. Cybersecurity statistics
3.9.1. Security incidence by type of asset
3.9.2. Data breaches per industry vertical
3.9.3. Target device/network
3.9.4. Average cost of stolen data per industry vertical
3.10. Porter's analysis
3.11. PESTEL analysis
Chapter 4. Competitive Landscape
4.2. Competive analysis of major market players, 2017
4.2.1. Check Point Software
4.2.6. Palo Alto Networks
4.2.9. Trend Micro
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