Cybersecurity Market Size Share, Industry Growth, Trend, Dri...| MENAFN.COM

Thursday, 07 July 2022 01:12 GMT

Cybersecurity Market Size Share, Industry Growth, Trend, Drivers, Challenges, Key Companies Forecast 2022 To 2031


(MENAFN- America News Hour)

Kenneth Research released a report on Cybersecurity Market consisting of detailed analysis of the market and industry insights over the forecast period of 2022-2031 . The latest trends and business opportunities in the market are discussed in the report on the basis of analysis of the market value and calculation of the CAGR during the forecast period.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Cybersecurity Market Products.

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The global spending on IIoT platforms for manufacturing is predicted to reach a value of about USD 11 billion in 2024, up from USD 1.5 billion in 2018, by growing at a CAGR of about 40% in 7 years.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

Global Cybersecurity Market

Cybersecurity solutions are being increasingly used across various public and private enterprises in order to ensure protection of critical personal and financial information, to mitigate risks and to establish comprehensive protection against any form of cyber-attacks. The global cybersecurity market is expected to grow at a double digit CAGR from 2018 to 2023, leading to global revenue of USD 193.76 Bn by 2023.

Depending on the various types of solutions available in the market, the global cybersecurity market has been classified into IAM (identity and access management), encryption, governance, risk and compliance, UTM (unified threat management), and SIEM (security information and event management). Among the different solution types, demand for encryption is anticipated to be the most promising in the coming years. This is due to its increasing adaptability across various telecom and IT verticals in order to protect information stored on clients' devices and to use it on the cloud without the risk of being hacked.

In addition, demand for cybersecurity products and services from various end use industries including aerospace and defense, financial service sector, telecommunication sector and healthcare industry among others is also provided in this report. Demand for cybersecurity products and services in the financial service sector held the largest market share in 2016 and is anticipated to maintain its dominance during the forecast period.

Moreover, the cross-sectional analysis of all the above mentioned segments across different regions such as North America, Asia Pacific, Europe, Latin America and Middle East and Africa has also been provided within the scope of the research. Geographically, North America dominated the global cybersecurity market and was majorly driven by the U.S. in 2016.

Key growth factors:

o Increasing dependency of various enterprises on different information technology devices and the delicate nature of digitally stored data is expected to raise the stakes for different cyber-attack cases where financial gain is the major motive. This in turn, is anticipated to trigger the adoption rate of cybersecurity products and services across different end use industries in the coming eight years.
o In addition, in order to encounter the problem of more sophisticated cyber-attacks, different solution providers are also engaging in research and development to develop technologically advanced next-generation security solutions.

Threats and key players:

o Despite so many factors having a positive impact on the growth of the global cybersecurity market, the availability of generic cybersecurity products along with the limited cyber security budgets of various end-use industries is one of the important factors anticipated to deter the growth of the cybersecurity market to some extent during the forecast period.
o Some of the major players having a strong foothold in the global cybersecurity market includes Symantec Corporation, Check Point Technology Ltd., Paloalto Networks, Fortinet and FireEye among others.

What's covered in the report?

1. Overview of the cybersecurity market.
2. Current market demand along with future expected demand for cybersecurity from various sectors including aerospace and defense, financial service sector, telecommunication sector and healthcare industry, among others.
3. Current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) market size data for the cybersecurity market.
4. Current and forecasted market size data for IAM (identity and access management), encryption, governance, risk and compliance, UTM (unified threat management) and SIEM (security information and event management).
5. Analysis of Company profiles of major public and private players operating in the market.
7. Key opportunities in the cybersecurity market.
8. Market trends in the global cybersecurity market.
9. Value chain analysis in order to emphasize on preventing waste, optimizing available resources, and contributing towards sustainability.
10. Market attractiveness analysis in terms of regions in order to furnish the competitive advantage of one region over the other.
11. Market positions of key players across different regions in 2016.

Why buy?

1. Understand the demand for cybersecurity products and services to determine the viability of the business.
2. Determine the developed and new markets where cybersecurity is utilized.
3. Formulate a product market strategy based on the position in the value chain to determine the optimal product/service placement.
4. Identify the gap areas and address them.
5. Develop strategies based on the industry and economic factors for each of the segments.
6. Define the competitive positioning by comparing the products and services of the key players in the market.

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The Market report answers the following questions:

What is the aim of the report?

  • The market report presents the estimated market size of  Cybersecurity Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
  • Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
  • An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
  • The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
  • The various parameters accelerating the growth of Market are incorporated in the research report.
  • The report analyzes growth rate, market size and valuation of the Market during the forecast period.

What aspects regarding the regional analysis Market are included in this report?

  • Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
  • The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
  • The growth rate of the market in every region, including their countries over the forecast period is included in the market report.

Based on what factors are the key market players assessed in this report?

  • The report offers detailed analysis of leading companies in the market across the globe.
  • It provides details of the major vendors involved in the Market including Key Playes
  • A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
  • The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
  • The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

What is the key information extracted from the report?

  • Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
  • The report offers the present scenario and future growth prospects Market in various geographical regions.
  • The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
  • The SWOT analysis is conducted along with Porter's Five Force analysis.
  • The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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About Kenneth Research:

Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.

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Name : Kenneth research

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Phone: +1 313 462 0609

Eli

Eli is a freelance writer and possess double graduation degree in physics and chemistry. She is an intense writer covering everything for Science and Tech to Business, Entertainment, Sports and Lifestyle.

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