openPR Logo
Press release

Cybersecurity Market Projected to reach $248.26 billion by 2023 | Key players include IBM, Symantec, FireEye, Check Point and Cisco

07-01-2019 11:31 AM CET | IT, New Media & Software

Press release from: MarketsandMarkets

Cybersecurity Market Projected to reach $248.26 billion by 2023

According to recent research "Cybersecurity Market by Solution (IAM, Encryption, UTM, Antivirus/Antimalware, Firewall, IDS/IPS, Disaster Recovery, and DDOS Mitigation), Service, Security Type, Deployment Mode, Organization Size, Industry Vertical, and Region - Global Forecast to 2023", The cybersecurity market is expected to grow from USD 152.71 billion in 2018 to USD 248.26 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.2% during 2018–2023.

The major forces driving the cybersecurity market growth are strict data protection directives and rising cyber terrorism. The cybersecurity market is growing rapidly because of the rising need for cloud-based cybersecurity solutions among Small and Medium-sized Enterprises (SMEs).

Browse 99 market data Tables and 68 Figures spread through 244 Pages and in-depth TOC on "Cybersecurity Market”
https://www.marketsandmarkets.com/Market-Reports/cyber-security-market-505.html?utm_source=Openpr

The encryption solutions segment is expected to grow at the highest CAGR from 2018 to 2023

Cybersecurity solutions are used to secure the network infrastructure and the devices connected to it. The cybersecurity market is segmented by solution into Identity and Access Management (IAM), risk and compliance management, encryption, Data Loss Prevention (DLP), Unified Threat Management (UTM), firewall, antivirus/antimalware, Intrusion Detection System/Intrusion Prevention System (IDS/IPS), security and vulnerability management, disaster recovery, Distributed Denial of Service (DDoS) mitigation, web filtering, and others (application whitelisting and patch management). The encryption solutions segment is expected to register the highest CAGR in the global market during 2018–2023. Encryption solutions offer consistent protection to sensitive data across all critical points in the entire lifecycle. These solutions enable enterprises to hide their critical data from unauthorized bad actors.

The healthcare industry vertical is expected to grow at the highest CAGR from 2018 to 2023

The cybersecurity market is segmented into various industry verticals. Out of these, the healthcare industry vertical is expected to grow at the highest CAGR from 2018 to 2023, as the medical data and digital medical devices used in this industry vertical are prone to advanced threats. The government is expected to have largest market size in 2018, due to the increased adoption of cybersecurity solutions in this industry vertical. The Banking, Financial Services, and Insurance (BFSI); and Information Technology (IT) and telecom industry verticals are also expected to gain traction during the forecast period.

Ask for Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=505&utm_source=Openpr

North America is estimated to dominate the cybersecurity market in 2018

North America is estimated to hold the largest share of the market in 2018, due to technological advancements and the early adoption of cybersecurity in the region. The market in Asia Pacific (APAC) is expected to grow at the highest CAGR between 2018 and 2023. The primary forces driving this growth are increasing technology adoption, huge opportunities across industry verticals, and strict directives for data privacy in APAC countries, especially India and China.

The report encompasses the different strategies, such as mergers and acquisitions, partnerships and collaborations, business expansions, and product developments, adopted by the major players to increase their market share. Some of the major technology vendors in the cybersecurity market are IBM (US), Symantec (US), Check Point (US), Cisco (US), Imperva (US), CyberArk (Israel), Microsoft (US), Sophos (UK), Rapid 7 (US), F5 Networks (US), FireEye (US), Forcepoint (US), Juniper Networks (US), RSA Security (US), Fortinet (US), F-Secure (Finland), McAfee (US), Micro Focus (UK), Oracle (US), Palo Alto Networks (US), Proofpoint (US), Splunk (US), and Trend Micro (Japan).

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: newsletter@marketsandmarkets.com

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Cybersecurity Market Projected to reach $248.26 billion by 2023 | Key players include IBM, Symantec, FireEye, Check Point and Cisco here

News-ID: 1792500 • Views:

More Releases from MarketsandMarkets

Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your Revenue
Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your R …
The global laser interferometer market is expected to be valued at 315 million in 2024 and is projected to reach USD 447 million by 2029, at a CAGR of 7.2% from 2024 to 2029. Emerging applications in industries push the market's growth due to the growing demand for precision in the manufacturing sector. However, challenges such as higher initial investments and maintenance costs cause problems. Despite these, opportunities arise for
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to Surpass USD 36.7 billion
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to …
The battery testing, inspection, and certification market is projected to reach USD 36.7 billion by 2029 from USD 14.9 billion in 2024 at a CAGR of 19.6% during the forecast period. Increasing adoption of EVs and energy storage systems, rising enforcement of stringent standards to ensure battery safety, thriving portable electronics industry, and rapid advances in battery technology are the major factors contributing to the market growth. Download PDF Brochure @
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMarkets
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMar …
The global RTLS market for healthcare is projected to grow from USD 2.3 billion in 2024 to USD 5.7 billion by 2029, at a compound annual growth rate of 19.6% from 2024 to 2029. As it attracts more and more players who enter this market with innovative RTLS features for customers, the market for RTLS technology is rapidly increasing. Top companies in this market focus on healthcare, retail, and manufacturing
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2030 | Leading key players are ABB, Schneider Electric, Eaton, Vertiv
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2 …
According to a research report "Offsite Data Center Power Infrastructure Market by Component (Solutions and Services), Vertical (BFSI, Media & Entertainment, Government & Defence, Healthcare, Manufacturing, IT & Telecom, Retail) and Region - Global Forecast to 2030" published by MarketsandMarkets, the market size for global offsite data center power infrastructure market is projected to reach approximately USD 35.4 billion by the year 2030, as compared to the estimated value of

All 5 Releases


More Releases for Cybersecurity

Rising Global Cybersecurity Threats Propel Growth In Military Cybersecurity Mark …
The Military Cybersecurity Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories]. What Is the Military Cybersecurity Market Size and Projected Growth Rate? The size of the military cybersecurity market has seen significant growth recently. The market is predicted to increase from a worth of $14.05 billion
Leading Element Driving Change in the Railway Cybersecurity Market in 2025: Risi …
Which drivers are expected to have the greatest impact on the over the railway cybersecurity market's growth? As cyberattacks become more prevalent, the railway cybersecurity market is set to expand. Cyberattacks, defined as any deliberate unauthorized action aimed at compromising the security, integrity, or availability of computer systems, networks, or sensitive data, can severely disrupt important railway structures like signaling, communication, and control systems. These disturbances can lead to service delays,
Rising Global Cybersecurity Threats Propel Growth In Military Cybersecurity Mark …
What market dynamics are playing a key role in accelerating the growth of the military cybersecurity market? The surge in cyberattacks is projected to drive the expansion of the military cybersecurity market. A cyberattack, an illicit attempt to infiltrate a computer system or network to cause disruption, can result in data theft, deliberate machine impairment, or use a breached system to launch further attacks. The military's smooth operation hinges on the
Top Cybersecurity Expert Nandy Bo Publishes Groundbreaking Freelancing Guide for …
NYC, New York, USA - Renowned cybersecurity consultant and top-rated Upwork freelancer, Nandy Bo, has launched his highly anticipated book, Master Upwork: Achieve Financial Freedom Through a Freelance Cybersecurity Career . This comprehensive guide provides aspiring and seasoned freelancers with the tools and strategies needed to thrive in today's competitive freelance economy, particularly in high-demand fields like cybersecurity and compliance. With over 16 years of experience, Nandy Bo has established himself
Cybersecurity Mesh Market Report 2024 - Cybersecurity Mesh Market Demand, Trends …
"The Business Research Company recently released a comprehensive report on the Global Cybersecurity Mesh Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry. According to The Business Research Company's, The cybersecurity mesh market size
Cybersecurity Experts Provide Insight on the ROI of Managed Cybersecurity Servic …
Image: https://www.getnews.info/wp-content/uploads/2024/09/1727067882.jpeg Cybersecurity professionals detail how managed cybersecurity services can provide significant returns on investment (ROI) by offering cost-effective, risk-reducing solutions that enhance an organization's security posture. Columbia, MD - September 23, 2024 - Shield 7, a leader in cybersecurity services [https://shield7.com/], has recently released a blog titled "The ROI of Managed Cybersecurity Services: A Comparative Analysis." This comprehensive analysis explores how managed cybersecurity services can offer significant returns on investment (ROI)