Why the Cyber Security Market Is Set To Explode? | Key Players are BAE Systems, Cisco, CyberArk Software Ltd., F-Secure Corporation, F5networks, FireEye, Fortinet, Hewlett-Packard, IBM, Intel Corporation, McAfee, Microsoft, Oracle

Graphical Research added research on cyber security market is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, market also includes an in-depth study of the industry’s competitive scenario.

With cyber-crime incidence continuously escalating, enterprises of all sizes have become vulnerable due to ineffective cyber security. IT security solutions are therefore an essential investment for every business, especially considering the importance of internet and digital systems for a smooth functioning of routine business operations.

With the surging number of internet users, and trends such as BYOD and Work From Home (WFH) in the aftermath of COVID-19, the higher threat of cyber-attacks will accelerate the demand for these solutions. The following seven factors are reinforcing demand across the cyber security market forecast worldwide:

Deployment of security services across Asia Pacific

The security services segment accounted for a major share of the market revenue in the past and is set to attain a higher amount through the forecast years. Owing to the increasing deployment of cloud platforms which are suitable for resource-intensive applications by numerous business enterprises, the Asia Pacific cyber security market outlook has been gaining ground rapidly.

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Several market players have been offering comprehensive digital protection to their clients, allowing the employees of these enterprises to access the internet without the danger of potential malware threats. Prevention of spyware and personal information threats is another benefit offered by these solutions.

Large enterprises see rising deployment across Asia Pacific

Numerous large enterprises in Asia Pacific have been prioritizing maximum protection of their critical data with a view to combat financial losses. Due to this trend, cybersecurity industry share from this segment is expected to grow at a 20% CAGR through the forecast timeframe, in order to ensure continuous, uninterrupted workflows.

A 2019 report by Sophos reveals that nearly 33% of the total number of organizations in the region were leveraging machine learning, AI, and other latest technologies across their cybersecurity solutions. This trend can prove to speed up the expansion of the cyber security market in APAC.

Banking sector in Asia Pacific to push demand

The banking sector in Asia Pacific is anticipated to rise at a 25% CAGR through the projected timeline, catalyzed by the escalating necessity to adopt these solutions for maintaining compliance at the same time preventing financial threats resulting from malicious attacks. The high degree of sensitivity of the confidential financial data of these organizations has forced them to invest heftily in enhanced protection software in order to uphold the trust of their customer bases.

Extensive adoption across Japan’s manufacturing sector

Driven by the large-scale deployment of cyber security solutions across its manufacturing sector, the Japanese market is expected to grow at a remarkable pace over the upcoming years. During 2019, the region accounted for 15% of the overall industry share.

The findings of the 2018 report by the Global Threat Intelligence demonstrate that manufacturing emerged as the most vulnerable sector in Japan, accounting for over 24% of the total cyber-attacks in the region. With the Japanese government setting up cybersecurity training facilities in Japan, Asia Pacific cyber security market is sure to soar by 2026.

Increasing need for infrastructure protection solutions across U.S.

The infrastructure protection segment is projected to surge at an 8% CAGR through 2026 in North America. These cyber security solutions can ensure optimal protection of the costly IT infrastructures from cyber threats, cyber-crimes, and malicious attacks, preventing intrusions and losses due to downtimes. One of the major factors increasing the susceptibility to cyber threats and cyber-crimes across enterprises is the rising popularity of the Bring Your Own Device (BYOD) trend.

Growing susceptibility of manufacturing industry in America

The constantly progressing manufacturing industry of the U.S. is anticipated to emerge as a leading contributor toward cybersecurity market share through the upcoming years. This is on account of the beginning of the 4.0 industrial revolution marking a new era of transition toward digitalization.

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The adoption of Enterprise Resource Planning (ERP) and other digital business management tools has resulted in higher vulnerability to cyber-attacks for manufacturing businesses. With a view to avoid negative consequences such as financial losses and compromise of confidential data, numerous businesses have been deploying cyber security solutions, accelerating the cyber security market in the U.S.

Surging demand from European governments

In terms of organization, the government segment is slated to expand at a high pace through the forecast years, pushed by the high financial impact of cyber-attacks on confidential government data. The industry share from the government sector is expected to rise at a 25% CAGR between 2019 and 2025, setting the tone for substantial advancement of the Europe cyber security market share.

Cyber-attacks can have grave consequences for public agencies, rendering the process of collection and processing of revenues and taxes difficult. These incidents can hamper investor trust and support, seriously affecting government budgets. Therefore, the segment is set to contribute toward the expansion of the overall revenue share to a great extent.

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U.K. government seeks to strengthen cybersecurity

The U.K. accounted for over 20% of the total Europe cyber security market during 2018, owing to the government initiative toward the strengthening of cyber security throughout the nation. With this aim in view, the government has been investing heavily in advanced cyber security solutions.

For instance, during 2017, the U.K. government funded more than $2.42 billion toward its National Cyber Security Strategy (2016-21). As several enterprises in the U.K. have also been embracing these solutions, the private sector has also been undergoing considerable expansion.

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