Cyber Security Market to Reach USD 267.7 Billion By 2026 | Sophos, Cisco, Networks, CyberArk

The Cyber Security market is expected to grow from USD 148.1 billion in 2018 to USD 267.7 billion by 2026, at a CAGR of 8.9% during the forecast period. Focus of enterprises and government for secured sharing of information, rise in digitized workplaces & mobile workforce, increasing number of supply chain-based attacks damaging the software supply chain, strict government norms regarding security of data, increasing demand for cloud based solutions, increase in the Ecommerce penetration across industry verticals and emergence of AI, machine learning and block chain technologies for cyber defense are some of the driving factors of the market.

This is the latest report that is inclusive of the current effect of the coronavirus on the market and its forecasted trend. The coronavirus attack on the world economy has impacted all, and thus its impacts are elucidated in-depth in the report for the Cyber Security market.

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Some of the dominant and influential players in the Cyber Security market are: 

Sophos (UK), Cisco (US), F5 Networks (US), CyberArk (Israel), FireEye (US), Forcepoint (US), Check Point (US), Fortinet (US), Amazon Web Services (US), Oracle (US), Imperva (US), Qualys (US), Palo Alto Networks (US), RSA Security (US), McAfee (US), F-Secure (Finland), Micro Focus (UK), Microsoft (US), Proofpoint (US), Symantec (US), IBM (US), Rapid7 (US), Splunk (US), Trend Micro (Japan), and Juniper Networks (US).

Cyber Security Market Size – USD 148.1 billion in 2018, Growth - CAGR of 8.9%, Trends –Increasing demand for cloud based solutions.

The market is heavily consolidated owing to a large number of global, regional, and local key contenders having already established a significant footing. The key participants dominate the operations in the industry with their extensive geographical coverage and huge production facilities. Players operating in this market are in intense competition in terms of technological innovations, product development, and product pricing. To gain a competitive edge over the other competitors in the industry, the leading players are focusing more on ways to offer products at attractive prices.

Key highlights of the Cyber Security Reports:

The report encompasses segmentation and market information break down, including key participants. If you are involved in the Global Cyber Security industry or aspire to be involved, this report is a must-have. The report makes an in-depth study on the market share, growth rate, market drivers, future trends, restraints, opportunities, and challenges.

For the purpose of this report, the market has been segmented on the basis of deployment type, component, security type, organization size, industry vertical and regional analysis.

Deployment type Outlook (Revenue, USD Million; 2018–2026)

Cloud
On-Premises

Security type Outlook (Revenue, USD Million; 2018–2026)

Network Security
Endpoint Security
Application Security
Cloud Security
Others (Content Security, Industrial Control System (ICS) Security, Database Security, and Web Security)

Component Outlook (Revenue, USD Million; 2018–2026)

Solution

Identity and Access Management (IAM)
Risk and Compliance Management
Encryption
Data Loss Prevention (DLP)
Unified Threat Management (UTM)
Firewall
Antivirus/Antimalware
Intrusion Detection System (IDS)/Intrusion Prevention System (IPS)
Security and Vulnerability Management
Disaster Recovery
Distributed Denial of Service (DDoS) Mitigation
Web Filtering
Others (Application Whitelisting and Patch Management)

Services

Professional Services
Design and Implementation
Risk and Threat Assessment
Consulting
Training and Education
Support and Maintenance
Managed Services

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Organization size (Revenue, USD Million; 2018–2026)

Large Enterprises
Small and Medium-Sized Enterprises

Industry vertical Outlook (Revenue, USD; 2018-2026)

Aerospace and Defense
Government
Banking, Financial Services, and Insurance (BFSI)
IT and Telecom
Healthcare
Retail
Manufacturing
Energy and Utilities
Others (Education, Media And Entertainment, and Transportation and Logistics)

Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)

North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)

Understanding the market size:

The size of the Cyber Security market is viewed in terms of the Share of Market, Total Available Market as well as Served Available Market. Not only does the study present the combined revenue for a particular market but also the market size for a specific geographic region. Analysis of percentage or the size of the Total Available Market based on the type of product, technology, regional constraints and others form an important part of the Cyber Security report.

Further key findings from the report suggest:

>The Cyber Security market is expected to grow from USD 148.1 billion in 2018 to USD 267.7 billion by 2026, at a CAGR of 8.9% during the forecast period.

>The major contributing factors for the growth of the market for Cyber Security can be focus of enterprises and government for secured sharing of information, rise in digitized workplaces & mobile workforce, increasing number of supply chain-based attacks damaging the software supply chain, strict government norms regarding security of data, increasing demand for cloud based solutions, increase in the Ecommerce penetration across industry verticals and leveraging AI, machine learning and block chain technologies for cyber defense.

>The Cyber Security market is segmented by deployment type into cloud and on-premises. The cloud deployment type is expected to witness highest growth, at a CAGR of 9.1% during the forecast period, due to its high demand by organizations, since it provides many benefits like affordable, scalability, reliability, flexibility, and remote location access.

>The Cyber Security market is segmented by security type into network security, endpoint security, application security, cloud security, others (content security, industrial control system (ICS) security, database security, and web security). The network security type is expected to witness highest growth, at a CAGR of 8.8% during the forecast period, due to rise in the number of security breaches targeting networks where hackers try to gain access to sensitive data.

>The Cyber Security Market is segmented by component into solutions and services. Solutions segment is expected to grow with the highest CAGR of approximately 10.1% during the forecast period, due to growth of encryption solutions since they offer consistent protection to sensitive data across all critical points in the entire lifecycle which enables enterprises to hide their critical data from unauthorized bad actors.

>The Cyber Security market is segmented by organization size into large and small & medium-sized enterprises. Large and medium-sized mostly adapt the cyber security solutions, small-sized enterprises may find the cyber security solutions a little unaffordable, thus lowering the market of cyber security in the small-sized enterprise segment.

>The Cyber Security Market is segmented by Geography into North, America, Europe, Asia Pacific and Rest of the World. North America, being a developed region, dominates the market, with a market share of around USD 45.9 Billion in the base year, since it focuses on utmost security and is readily adopting new and advanced technologies.

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