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Cyber Security Market Size Worth $269 Billion By 2026 | Industry Players: Symantec Corporation, Cisco Systems Inc., BAE Systems Inc., EMC Corporation, Hewlett-Packard Enterprise, Intel Security, Palo Alto Networks, and others

04-17-2019 11:40 AM CET | IT, New Media & Software

Press release from: Polaris Market Research & Consulting

According to a new research published by Polaris Market Research, the cyber security market is anticipated to reach over USD 269 billion by 2026. In 2017, the enterprise segment dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue in 2017.

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The growing need for protection of sensitive data, and increasing cyber terrorism has boosted the adoption of cyber security solutions. The rising penetration of mobile devices, and increasing trend of BYOD further support the growth of this market. Additionally, the increasing demand of cyber security solutions from small and medium enterprises has supported market growth over the years. Increasing investments by vendors in technological advancements coupled with growing demand for cloud-based cyber security solutions would accelerate the growth of the cyber security market. However, However, growing use of pirated cyber security solutions, and complexities associated with device security hinder market growth. Growing demand from emerging economies is expected to provide numerous growth opportunities in the coming years.

The cases of cyber-attacks in the healthcare sector have increased significantly over the years. The high demand for electronic health records in the black market has resulted in numerous cyber-attacks. The healthcare sector is prone to cyber-attacks owing to limited budget allocation by healthcare institutions for cyber security. The healthcare sector is dominated by small practices and rural hospitals, which lack the resources for investment in cyber security, thereby increasing risks of cyber-attacks. However, introduction of affordable cyber security solutions for healthcare sector, increasing awareness, and growing incidences of cyber-attacks are expected to promote the adoption of cyber security in this sector.

North America generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The increase in number of cyber-attacks, and growing trend of BYOD drive the market growth in the region. The growing penetration of mobile devices, and technological advancements further support market growth in the region. The increasing spending on data protection in BFSI and defense sectors in the region further promote market growth in the region. Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to growing need for data privacy across various industries in the developing countries of the region.

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The end-users in cyber security market include BFSI, IT & Telecom, healthcare, retail, defense and government, travel and hospitality, and others. In 2017, the defense and government segment accounted for the highest market share owing to increasing need to protect sensitive data and avoid cyber-attacks. The growing government spending to provide enhanced cyber security to the public sector and increasing implementation of cyber security installations in the defense sector, especially in developing countries, supports the market growth in this sector. The increasing adoption of cloud-based cyber security in this sector is expected to support market growth in the coming years.

The well-known companies profiled in the report include Symantec Corporation, Cisco Systems Inc., BAE Systems Inc., EMC Corporation, Hewlett-Packard Enterprise, Intel Security, Palo Alto Networks, Proofpoint Inc., LogRhythm Inc., IBM Corporation, Fortinet, Inc., and Centrify Corporation among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

Cyber Security Market Size and Forecast, 2017-2026 by Type

Key Findings

• Enterprise security
• Network Security
• Application Security
• Endpoint security
• Others

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Cyber Security Market Size and Forecast, 2017-2026 by Deployment Model

Key Findings

• On-Premise
• Cloud-Based

Cyber Security Market Size and Forecast, 2017-2026 by End-User

Key Findings

• BFSI
• IT & Telecom
• Healthcare
• Retail
• Defense and Government
• Travel and Hospitality
• Others

Cyber Security Market Size and Forecast, 2017-2026 by Organization

Key Findings

• Large Enterprises
• Small and Medium Businesses

Cyber Security Market Size and Forecast, 2017-2026 by Solution

Key Findings

• Encryption
• Unified Threat Management
• Identity and Access Management
• Data Loss Prevention
• Antivirus/Anti-Malware
• Risk and Compliance Management
• Disaster Recovery
• Others

Cyber Security Market Size and Forecast, 2017-2026 by Component

Key Findings

• Solutions
• Services

Cyber Security Market Size and Forecast, 2017-2026 by Region

Key Findings

o North America
 U.S.
 Canada
 Mexico
o Europe
 Germany
 UK
 France
 Italy
 Rest of Europe
o Asia-Pacific
 China
 India
 Japan
 Rest of Asia-Pacific
o Latin America
 Brazil
o Middle East & Africa

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. We provide unmatched quality of offerings to our clients present globally. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities.

Contact us-

Mr. Rohit
Corporate Sales, USA
Polaris Market Research
Phone: 1-646-568-9980
Email: sales@polarismarketresearch.com
Web: www.polarismarketresearch.com

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