Cyber Security Market Size, Share | Industry Report 2024

Global Cyber Security Market was valued at $105.1 Billion in 2015 and is estimated to grow at a CAGR of over 9.8% from 2016 to 2024.

The global cyber security market is anticipated to reach over USD 255 billion in 2024. The market is expected to witness exponential growth due to rising number of cyber-attacks, growing insecurity amongst business enterprises, data privacy concerns, and alarming rise of state sponsored attacks.

Some of the recent cyber security trends indicate the growing usage of zero-day attacks, SQl injections, APT, rootkits, DDOS, malware, spyware, and the use of lost or stolen devices. The impact of a cyber-attack cannot be assessed immediately. It is essential to know the exact time of data breach, the amount of data lost, and the number of systems and servers compromised due to the attack.

As per the historic trend analysis, it was observed that the attackers preferred to steal credit card information, social security Ids, product information, campaign information’s, and other data which can damage the economic and brand image of the company affected. On an average, the stolen credit card information is valued at USD 1-2 in the grey market.

Furthermore, the high value targets such as healthcare institutions, pharmaceutical organizations, and insurance companies are beefing up their security measures after a series of targeted attacks in 2014 and 2015. On an average, the healthcare and insurance records are valued at USD 40 to 50. The healthcare information and insurance records are manipulated to create a fake trail of healthcare bills and cash in huge dollars from the system.

The cyber security market is segmented based on type of solution as Distributed Denial of Service Mitigation(DDOS), data loss prevention, firewall, risk and compliance management, unified threat management, encryption, data loss prevention, disaster recovery, intrusion detection system/intrusion prevention system, identity and access management, antivirus/antimalware, security and vulnerability management, web filtering and others
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Key findings from the study: -
• Global Cyber Security Market was valued at $105.1 Billion in 2015 and is estimated to grow at a CAGR of over 9.8% from 2016 to 2024.
• Some of the recent cyber security trends indicate the growing usage of zero-day attacks, SQl injections, APT, rootkits, DDOS, malware, spyware, and the use of lost or stolen devices.
• The healthcare information and insurance records are manipulated to create a fake trail of healthcare bills and cash in huge dollars from the system.
• Key players include Symantec Corporation, EMC RSA, IBM, Fireeye, Inc., Intel Security and Trend Micro, Inc.

Ameri Research has segmented the Cyber Security Market by material categories, product type, end-use and region:

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