Cybersecurity Market Projected to Hit USD 351.43 billion, growing at a healthy CAGR 13.10% by 2030

Market Overview
By 2030, the cybersecurity market is expected to grow to USD 351.43 billion CAGR of 13.10%.

Cybersecurity is the mix of many technologies and procedures to safeguard devices, networks, and data from illegal intrusion and attack. The demand for cybersecurity products has increased dramatically with the rise of internet marketing. Rising organizations must lower risk, and tight adherence to the regulatory framework necessitates a solution to stop cybercrime using cybersecurity services. In addition to being needed by enterprises, cybersecurity services

are in high demand due to the lucrative prospects presented by BFSI (banking, financial, services, and insurance) cyberattacks in the global market. Due to this, one of the factors creating a huge market for the cybersecurity industry is the frequency of cyberattacks worldwide. The budgetary restraint prevents small- and medium-sized businesses from meeting this need.

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Major Market Players

Intel Corporation (US)
HP Enterprise (US)
Cisco Systems Inc. (US)
Trend Micro
Inc. (Japan)
Sophos Ltd. (UK)
IBM Corporation (US)
BAE System (UK)
Carbon Black Inc. (US)
Akamai Technologies (US)
Symantec Corporation (US)
FireEye Inc. (US)
Rapid7 Inc. (US)
EMC RSA (US)

Opportunities for market players are growing quickly as the adoption of cloud-based apps increases. Since data is now easily accessible with a rise in technology and is therefore of utmost importance to any organization, whether it be for individuals or corporations, it is predicted that the trend of cybersecurity will grow.

Market Segment
The cybersecurity market has been segmented according to the component, organization size, security type, deployment, vertical, region, and country.

By Solution

threat management,

disaster recovery,

antivirus,

web filtering,

data loss prevention

By Service

Managed Services

Professional Services Training

Education

Consulting

Support

By Size

Large Enterprise

Small And Medium Sized Enterprise

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Depending on a component
Solutions and services make up the global cybersecurity market. The solution category has been divided into the following subcategories: data loss prevention, web filtering, antivirus, disaster recovery, and unified threat management. Additionally, the service section includes managed and professional services like consulting, support, maintenance, design, and training.



Concerning the size of the organization
Application security, cloud security, wireless security, endpoint security, and other subsectors have been added to the global cybersecurity market's segmentation.



Depending on vertical
Manufacturing, BFSI, government, aerospace and defense, IT and telecommunication, retail, healthcare, and others are the categories of the global cybersecurity market.



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Drivers

The increasing need for cybersecurity opportunities. Due to the new normal, that is working from home and wiThe cyberization attacks, there is a need for proper cybersecurity. It is needed despite the size of the organization and hence there is a boom for the cybersecurity market. It will not only provide us security benefits but also helps in the smooth functioning of the work even at our home place. The cybersecurity industry has become a very prominent player in this technology-IT-based world. Its increasing demand can also be witnessed by its use in (BFSI) and many other IT-based industries

Regional Analysis
The regions with the highest cybersecurity estimates globally include North America, Europe, Asia-Pacific, the Middle East, Africa, and South America.

Due to the worrisome rise in cyberattacks in North America, the region has the largest cybersecurity market. Additionally, America is the technologically most advanced nation, and many of its population uses the cloud.

As they are more concerned with preventing cyber risks, the Asia-Pacific cybersecurity business is gaining a lot of notoriety. Additionally, all organizations are moving toward secure networks and data to efficiently operate their transactions and protect their private information.

The majority of the major players rely heavily on agreements, collaborations, and partnerships to increase their market share in the cybersecurity sector. By doing this, they will increase their consumer base and meet the needs of their clients all over the world.

Industry News
Since automobiles now communicate through Bluetooth and WiFi technologies, hacking has expanded in the automotive industry. As a result, it is necessary to implement strong cybersecurity measures.
As AI (Artificial Intelligence) is a blend of machine learning, cybersecurity is now interacting with AI. Whether it be face detection, autonomous danger detection, natural language processing, etc., AI has benefited humans in many ways. It can also identify any cyberattack that fuels the current cybersecurity trend.

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