Cyber Security Market Prominent Players – BAE Systems Plc, Check Point Software Technologies Ltd., Cisco Systems Inc., CyberArk Software Ltd., F-Secure Inc., F5 Networks Inc., FireEye Inc., Fortinet Inc., Hewlett Packard Enterprise Development LP, IBM C

What key factors are likely to influence the growth of global cyber security market over 2020-2026?

The global cybersecurity market is anticipated to observe substantial development in the coming years owing to the increasing need for security solutions throughout several enterprises across the globe. Numerous firms and industries are increasingly implementing security solutions in order to safeguard their financial transactions and highly confidential and sensitive data from threats such as unauthorized access, cyberattacks, and other vulnerabilities.

As per a research report by Global Market Insights Inc., the global cyber security market is estimated to exceed a valuation of $400 billion over 2020-2026.

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Why is the global cyber security market growing massively in Europe?

Various enterprises operating across the banking sector in Europe are increasingly adopting advanced cybersecurity solutions, which is a crucial factor that is proliferating Europe cybersecurity market share in the region. The elevated rate of adoption can be ascribed to the fact that private corporates and government entities in the region have observed an upsurge in the number of cyberattacks.

Owing to this trend both sectors are working together to limit or altogether prevent the impact of such growing vulnerabilities. For instance, in February 2020 European Central Bank collaborated with the Euro Cyber Resilience Board’s members to unveil the Cyber Information and Intelligence Sharing Initiative.

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This program focuses on recognizing and subsequently averting cyberattacks. The initiative greatly enhances cybersecurity across financial institutions. Taking into account these growth favoring factors, the Europe cyber security market is projected to grow at a healthy CAGR of more than 15% through the projected timeframe.

How would the growing adoption of cybersecurity solutions in SMEs shape the global cyber security industry outlook?

With respect to the organization segment, increasing number of cyberattacks on SMEs and rising monetary losses are considered to be the major factors responsible for fueling the adoption of cyber security solutions across small and medium organizations.

Several small and medium-sized companies are adopting BYOD policies to lower their capital expenses and further augment employee productivity. However, this practice makes small and medium enterprises extremely vulnerable to data breaches and cyber threats, creating more need for cybersecurity and fueling substantial investments in advanced cybersecurity solutions in efforts to safeguard sensitive data.

Considering these determinants, the implementation of cyber security solutions throughout small & medium enterprises is projected to grow at an impressive CAGR of more than 15% over 2020 and 2026.

What is driving the adoption of cybersecurity solutions across the IT & telecom sector?

The IT and telecommunication industry is forecast to play a vital role in the expansion of cybersecurity industry share over the analysis timeframe. Demand for cybersecurity services and products to protect the customer’s personal sensitive data is driving growth throughout this industry segment.

IT & telecom enterprises are increasingly implementing cyber security solutions for the protection of data centers, data servers, as well as virtual information systems, further paving a way for the expansion of the cybersecurity industry size.
Cyber security solutions help enterprises find vulnerabilities at a very early stage, mitigate cyber issues and risks, and safeguard the company data from live cyberattacks. Additionally, newly introduced, stringent government regulations are further making a positive impact cybersecurity market growth.

The competitive landscape of the global cyber security market is inclusive of players such as Google LLC, Nokia Networks, Oracle Corporation, IBM Corporation, Microsoft Corporation, Amazon Web Services, and others.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

This release was published on openPR.