Cyber Security Market Is Expected To See a growth of 9.7% | Broadcom Inc., Capgemini, Cognizant, F5 Networks Inc., FireEye Inc., HCL Technologies Limited, IBM Corporation, Infosys Limited, L&T Technology Services Limited

Some of the factors propelling the global cybersecurity market's expansion include the rise in cyberattacks that come along with the introduction of e-commerce platforms, the use of cloud solutions, and the spread of smart devices. It is anticipated that as the usage of intelligent and IoT devices increases, cyber dangers will change. As a result, enterprises are anticipated to adopt and implement cutting-edge cyber security solutions in order to identify, reduce, and limit the risk of cyber-attacks, hence fueling the cybersecurity market expansion. The estimated value of the global cyber security market was USD 197.38 billion, and in 2030, it is expected to increase USD 478.68 billion at a CAGR of 9.7%.

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Protecting systems, networks, and programmes from cyberattacks is the practice of cybersecurity. These cyberattacks often try to disrupt corporate operations and access, alter, damage, or delete sensitive data. In today's evolving digital environment, cybersecurity against online attacks becomes more relevant. It has become essential among enterprises as a result of the sharp rise in cybercrimes, frauds, threats, hazards, and vulnerabilities. The proliferation of the cybersecurity industry is being fueled by a number of reasons, such as the rise in the frequency and sophistication of cyberattacks, the development of disruptive digital technologies, and strict data protection laws for information security.

The dearth of qualified cybersecurity people across all industries is one of the main reasons why cyberattacks are increasing. In particular in Europe, Asia-Pacific, Latin America, and the Middle East, there aren't as many skilled cybersecurity professionals as there should be to handle the demand for security experts to handle cyber threats for financial institutions, governmental organizations, and private sector/industrial businesses.

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Companies that specialize in cyber security are working to provide automated IT security solutions using AI and machine learning. By enabling automated threat identification, these solutions help IT companies to decrease the time and effort needed to track harmful actions, approaches, and strategies. These technologies provide autonomous reactions while also enabling real-time monitoring and detection of new threats.

The growth of linked devices, such as meters, wearables, connected automobiles, machinery, and consumer electronics, has been vital for the market penetration rates of IoT. Significant device cost reductions and newly developed business models have made it possible for the cybersecurity market penetration.

Although consumer IoT attacks are common, the present market dynamics make cybersecurity more pervasive because of the danger of disruption in other businesses like manufacturing. Furthermore, it's projected that the development of 5G would speed the use of connected devices in industries that are already transitioning to the fourth industrial revolution.

Over the forecast period, market growth for cybersecurity solutions is anticipated to be greatest in Asia Pacific. It is anticipated that the existence of multiple industry leaders and current security risks in the area would hasten the adoption of these solutions.

Table of content:
1. Introduction
2. Research Methodology
3. Market Outlook
4. Cyber security Market By component, 2022-2029 (USD Billion)
5. Cyber security market by solution, 2022-2029 (USD Billion)
6. Cyber security market by deployment model, 2022-2029 (USD Billion)
7. Cyber security market by Enterprise size, 2022-2029 (USD Billion)
8. Cyber security market by industry vertical, 2022-2029 (USD Billion)
9. Cyber security market by region, 2022-2029 (USD Million)
10. Competitive Landscape
11. Company Profiles
12. Appendix

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