Cybersecurity Services Global Market By Component, By Solution, By Deployment Model, By Enterprise Size And Segment Forecast Till 2031 | Cisco Systems, IBM Corporation, Microsoft, Oracle, Trend Micro.
The global cybersecurity services market report by the business research company identifies the increasing instances of massive cyber-attacks are a key factor driving the growth of the cybersecurity services market. The primary motive behind cybercrimes is political competition, financial gain, negative credibility, foreign competition and radical involvement of religious groups. Most cyber-attacks are for financial gain. WannaCry, Petya, NotPetya, and BadRabbit are some of the main ransomware products that have targeted large-scale businesses and government organizations. According to cyber security experts, ransomware threats rose by 40% to 199.7 million attacks worldwide in Q3 of 2020. In Q3 2020, Ryuk ransomware threats rose to 67.3 million, which is 33.7% of all ransomware incidents this year. The ransomware implications included inaccessibility to various municipal facilities, information leakage, and economic loss. Therefore, the increasing instances of massive cyber-attacks compel companies to integrate cybersecurity in their systems and functionality to prevent crashing thereby driving the growth of the cybersecurity services market.
The global cybersecurity services market grew from $72.92 billion in 2021 to $81.64 billion in 2022 at a compound annual growth rate (CAGR) of 12.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The cybersecurity services market is expected to grow to $127.51 billion in 2026 at a CAGR of 11.8%.
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North America was the largest region in the cybersecurity services market in 2021. Asia Pacific was the second largest region in the cybersecurity services market. The regions covered in the cybersecurity services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major players in the cybersecurity services market are Cisco Systems, IBM Corporation, Microsoft, Check Point Software Technologies, Oracle, Trend Micro., Cyber Ark Software Ltd., FireEye Inc., Imperva Inc., ProofPoint, Inc., Micro Focus, RSA Security, Sophos, Splunk, Capgemini, Cognizant, HCL Technologies Limited, Tata Consultancy Services, Wipro Limited, Qualys, Dell Technologies Inc., AVG Technologies NV and Intel Security (Intel Corporation).
The global cybersecurity services market is segmented -
1) By Security Type: Network Security, Endpoint Security, Application Security, Cloud Security, Others
2) By User Type: Large enterprises, Small & medium enterprises
3) By Industry Verticals: Aerospace and Defense, BFSI, Public sector, Retail, Healthcare, IT and Telecom, Energy and Utilities, Manufacturing, Others
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The Cybersecurity Services Market Report Contents Include
1. Executive Summary
2. Cybersecurity Services Market Characteristics
3. Cybersecurity Services Market Trends And Strategies
4. Cybersecurity Services Market - Macro Economic Scenario
5. Cybersecurity Services Market Size And Growth
26. Africa Cybersecurity Services Market
27. Cybersecurity Services Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Cybersecurity Services Market
29. Cybersecurity Services Market Future Outlook and Potential Analysis
This report covers the trends and market dynamics of the cybersecurity services market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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