Press release
Global Cyber Security Services Market Size, Share, Forecast 2023 - 2033 | Top key players : Rapid7, Cisco Systems, Inc, Ignition Technology, Capgemini, AT&T INC., Atos SE, Deloitte Global, CrowdStrike Holdings, Inc, IBM, DXC Technology Company
Global Cyber Security Services Market Size
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Cyber security services is the term that covers all professional services, providing for the protection of digital systems, networks, and data against various cyber threats. Among those services are detection of threats, estimation of potential risk, management of vulnerability, response to an attack, encryption of data, compliance, etc. In turn, the purpose of these cyber security services is to secure secret information, ensure system integrity, and reduce cyber risks due to attacks and breaches, thereby ensuring that necessary critical digital assets would always remain confidential, available, and reliable. The necessity for strong cyber security solutions is further heightened by regulatory compliance requirements and the need to safeguard sensitive data. There is cyber security market is growing due to lowering the high cost of comprehensive solutions, the growing awareness among SMEs, and the advancement of AI-powered threat detection that are attempting to address the shortage of qualified cyber security professionals. Government policies on cyber security are evolving, which is driving market growth and providing a wealth of chances for industry participants. However, the market for cyber security services is being restricted by problems including high implementation costs, a lack of skilled workers, complicated integration, and changing regulatory requirements.
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The professional services segment is predicted to hold the highest market share through the forecast period.
Based on the type, the cyber security services market is classified into professional services and managed services. Among these, the professional services segment is predicted to hold the highest market share through the forecast period. Businesses are seeking professional services as a result of the growing demand for specialized security solutions brought on by emerging technologies like cloud computing and the Internet of Things.
The defense/government segment is anticipated to hold the largest market share during the projected timeframe.
Based on the application, the cyber security services market is divided into IT & telecom, retail, BFSI, healthcare, defense/government, energy, manufacturing, and others. Among these, the defense/government segment is anticipated to hold the largest market share during the projected timeframe. The surging need for advanced security solutions in the government and defense sector is due to increasing threats to their data housed in the cloud and on-premises.
North America is estimated to hold the largest share of the cyber security services market over the forecast period. Zero-trust security approaches are being quickly adopted by organizations to reduce the dangers brought on by growing attack surfaces in the North American region.
Asia Pacific is predicted to have the highest CAGR growth in the cyber security services market over the forecast period. Digital technologies and regulatory standards, in key industries like manufacturing, healthcare, and BFSI are boosting market demand.
Major key players in the cyber security services market include Rapid7, Cisco Systems, Inc., Ignition Technology, Capgemini, AT&T INC., Atos SE, Deloitte Global, CrowdStrike Holdings, Inc., IBM, DXC Technology Company, and Others.
Key Target Audience
Market Players
Investors
End-users
Government Authorities
Consulting And Research Firm
Venture capitalists
Value-Added Resellers (VARs)
Recent Development
In May 2024, the second public service announcement (PSA) in the Cyber Security Services and Infrastructure Security Agency's (CISA) Secure Our World Cyber Security campaign was launched. The PSA would be extensively publicized throughout the United States via billboards, digital advertisements, radio, television, retail locations, and social media.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the cyber security services market based on the below-mentioned segments:
Global Cyber Security Services Market, By Service
Professional Services
Managed Services
Global Cyber Security Services Market, By Industry Vertical
IT & Telecom
Retail
BFSI
Healthcare
Defense/Government
Energy
Manufacturing
Others
Global Cyber Security Services Market, By Regional Analysis
North America
US
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Australia
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
UAE
Saudi Arabia
Qatar
South Africa
Rest of the Middle East & Africa
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About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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