Digital Security Control Market Size, Share, Industry Analysis, Segments And Forecast To 2033

The digital security control market size has grown rapidly in recent years. It will grow from $15.38 billion in 2023 to $17.40 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to increasing reliance on digital technologies, growing frequency and sophistication of cyber-attacks, rising use of IoT devices, need for information security, economic globalization and increased digital transactions.

The digital security control market size is expected to see rapid growth in the next few years. It will grow to $28.24 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to continued growth in the reliance on digital technologies, escalating cyber threats and attacks, technological advancements in authentication and encryption methods, greater integration of security solutions with cloud and mobile platforms, emphasis on information security and privacy regulations. Major trends in the forecast period include multi-factor authentication, advanced mobile security and telecommunication, integration of security solutions, and new investments in the digital security sector.

Market Overview -
Digital security controls (DSC) refer to a set of measures and technologies implemented to safeguard digital assets, information, and systems from unauthorized access, cyber threats, and potential risks. The purpose of digital security controls is to safeguard digital assets, information, and technology infrastructure from unauthorized access, cyber threats, and potential risks.

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Rising Cyber Threats Driving Growth In The Digital Security Control Market
The increasing cyber threats are expected to propel the growth of the digital security control market going forward. Cyber threats refer to potential dangers or risks to information systems, computer networks, and digital infrastructure posed by malicious actors or events in the digital realm. Cyber threats are on the rise due to a combination of factors, including the rapid expansion of digital technologies, the increasing sophistication of cybercriminal tactics, and the monetization of cyber-attacks. Digital security controls are essential for effective cyber threat control by protecting digital assets, detecting malicious activities, and responding to security incidents promptly and efficiently. For instance, in February 2024, according to AAG IT Services, a US-based computer support and services company, an estimated 53.35 million US citizens were affected by cybercrime in the first half of 2022. Moreover, between July 2020 and June 2021, the US was the most targeted country for cyber-attacks, accounting for 46% of attacks globally. Therefore, the increasing cyber threats will boost the digital security controls market.

Competitive Landscape -
Major companies operating in the digital security control market are Microsoft Corporation, Cisco Systems Inc., 3M Company, NEC Corporation, Palo Alto Networks, Gemalto NV, Morpho S.A.S, McAfee Corporation, Trend Micro Inc, CrowdStrike, HID Global Corporation, Bundesdruckerei GmbH, RSA Security LLC, Rapid7, CyberArk, Fireeye Inc, Vasco Data Security International Inc, Safenet Inc., Watchdata Technologies, Secura Key, CardLogix Corporation, Oberthur Technologies, IntelCav, Alioth LLC

Innovative Developments In Digital Security
Major companies operating in the digital security control market are focusing on developing technologically advanced security systems, such as integrated door lock card to provide more advance solution and security to customers. Integrated door lock is a door lock system that is designed to work seamlessly with other components or systems, such as smart home automation, access control. For instance, in February 2022, Tuchware, an India-based electronics company, launched the smart lock vendor, XS series which comes with a hotel management software hotel-XS. The unique feature includes an integrated door lock card management interface in addition to other hotel administration functions such as booking management, personnel management, inventory management, and invoicing. The smart lock is specially created with a single body of stainless steel 304 grade as opposed to mild steel or aluminum alloys, making it the most durable option on the Indian market.

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Key Segments -

The digital security control market covered in this report is segmented -

1) By Service : Two-Factor Authentication, Three-Factor Authentication, Four-Factor Authentication
2) By Hardware: Smart Card, Sim Card (Subscriber Identity Module), Biometric Technologies, Security Token
3) By Software : Anti-Phishing, Authentication, Network Surveillance, Security Management, Web Technologies
4) By Application : Mobile Security and Telecommunication, Finance and Banking, Healthcare, Commercial

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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