Size & Share of Cybersecurity Market Will Reach USD 275 Billion by 2026 - Facts & Factors

According to the Facts and Factors, Research Report, the global cybersecurity market in 2019 was approximately USD 140 Billion. The market is expected to grow at a CAGR of nearly 11% and is anticipated to surpass USD 275 Billion by 2026.

Cybersecurity is an integrated set of tools and technologies exploited to safeguard networks, programs, and data-loaded machines that can be accessed through any unlicensed dataset either intentionally or accidentally. Considerable progress has been observed in cybersecurity solutions during the past few years owing to the growing prevalence of cyber threats. The cybersecurity market will pursue a positive growth trend owing to the rising adoption of BYOD trend and IoT-based technologies among various multinational companies along with the growing incidences of phishing and malware threats in recent years.

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Moreover, cloud storage and analytics technology are gaining high prominence in several data management industries. Hence, the demand for cybersecurity solutions to safeguard cloud data is increasing at a remarkable rate. However, the global cybersecurity market is potentially being hampered due to the obligations set for the cybersecurity services providers to comply with the regulations, standards, and complexities related to device security.

Top Market Players:

Some of the key players driving the global cybersecurity market are McAfee, Cisco Systems, Microsoft, Rapid7, IBM Corporation, Trend Micro, Palo Alto Networks, FireEye, Sophos, AWS, Oracle, Symantec, Fortinet, Micro Focus, RSA Security, Check Point Software Technologies, Imperva, Proofpoint, F-Secure, and Cyberark, among others.

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The “service” category under the component segment to witness a splendid growth during the study timeframe

The component segment bifurcates the global cybersecurity industry into solution and service, of which the service segment is anticipating substantial growth in the upcoming few years. The anticipated significant growth in the cybersecurity service segment during 2020–2026 is attributed to the extensive adoption of cybersecurity services to manage and secure crucial data of enterprises.

North America to sustain the dominating position in the global cybersecurity market throughout the forecast period

North America is projected to maintain its dominance in the cybersecurity sector during 2020–2026 by holding significant market share. The key factor supporting the dominance of North America in the global market is that the majority of the leading players are headquartered in the region. However, the Asia Pacific cybersecurity market is witnessing a striking growth in the next few years owing to the rapid adoption of advanced technologies, growing prominence of cloud-based solutions, and swift economic development.

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This report segments the global cybersecurity market as follows:

Global Cybersecurity Market: Component Segmentation Analysis

Solutions
Services

Global Cybersecurity Market: Offerings Segmentation Analysis

Identity and Access Management (IAM)
Infrastructure security
Governance, risk, & compliance
Unified vulnerability management service offering
Data security and Privacy service offering

Global Cybersecurity Market: Deployment Type Segmentation Analysis

Cloud
On-Premises

Global Cybersecurity Market: User Type Segmentation Analysis

Large enterprises
Small & medium enterprises

Global Cybersecurity Market: Industrial Vehicle Segmentation Analysis

Aerospace and Defense
BFSI
Public sector
Retail
Healthcare
IT and Telecom
Energy and Utilities
Manufacturing
Others

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