(MENAFN- GlobeNewsWire - Nasdaq) Dallas, Texas, Oct. 21, 2022 (GLOBE NEWSWIRE) -- The global rise in cybercrime and cyberterrorism has increased the demand for products. The introduction of IPv6 has expanded security services and solutions. Governmental enterprises have been prompted to upgrade their security policies and reform the current security solutions as a result of the need to bolster the critical infrastructure owing to Advanced Persistent Threats. As a result of new technologies like ML, IoT, and AI, data generation has increased in many different ways. In many industries, a huge range of data is produced every day. These elements have driven those industries to safeguard themselves with prospective cybersecurity solutions. The expanding data sharing and organizational flaws have enhanced the need for the growth of the global cyber security market.
Massive cyberattacks are happening more often all around the world. Cyber terrorists target endpoints, data, networks, and other IT infrastructure, causing substantial financial damage to businesses, people, and governments. The global cybersecurity market is anticipated to grow more quickly as a result. It has been vital for IoT market penetration rates to increase, which has led to an increase in connected products like wearables, consumer electronics, connected equipment, and autos.
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This report centers about the top players in global Cyber Security marketplace:
Accenture
Broadcom Inc.
Capgemini
Cognizant
F5 Networks Inc.
FireEye Inc.
HCL Technologies Limited
IBM Corporation
Infosys Limited
L&T Technology Services Limited
This market penetration has been facilitated by significant device cost reductions and emerging business models. Attacks on consumer IoT are common, but the threat of disruption in manufacturing and other sectors makes cybersecurity more pervasive in the market dynamics right now. Additionally, it is anticipated that the development of 5G would hasten the usage of connected devices in sectors that are already moving toward Industrial Revolution 4.0. The global cybersecurity market is reached US$ 197.38 billion and is projected to grow at a positive CAGR of 9.7%, reaching US$ 478.69 billion in 2030.
Cyber Security Market Scope:
| Metrics | Details |
| Base Year | 2022 |
| Historic Data | 2020-2021 |
| Forecast Period | 2022-2030 |
| Study Period | 2020-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | USD 478.69 billion |
| By Enterprise | SMEs, Large Enterprise |
| By Industry | Healthcare, Retail, BFSI, IT & Telecom, Manufacturing, Automotive, Public Sector, Energy & Utilities, Others |
| By Component | Solution, Services |
On the basis of components, the solution segment is further divided into data loss prevention, threat intelligence and encryption, distributed denial of service mitigation, unified threat management, intrusion detection systems, firewall, antivirus, disaster recovery, and web filtering . Threat intelligence is broken down into several sub-segments, including risk and compliance management, security and vulnerability management, and identity and access management. Network DLP, Storage DLP, and endpoint DLP are the three sub-segments of data loss prevention. Systems for detecting intrusions are further divided into network-based, host-based, and wireless types.
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Since more sophisticated internet security solutions are being used by organizations, North America is predicted to dominate the cybersecurity market. The substantial use of internet services and the significance of cyberspace in the digital world are additional important factors fueling the growth of the cybersecurity industry throughout the region. Another important aspect that is projected to fuel the market's growth in North America is the widespread use of cybersecurity by a number of sectors, together with technological advancements in each of these sectors.
The Mandiant Worldwide Information Security Exchange (mWISE), which became live in March 2022, was announced by Mandiant Inc. mWISE is a dynamic, vendor-neutral cyber security event series that together practitioners, executives, and visionaries from around the world to talk about best practices, identify new and emerging trends, and turn knowledge into coordinated action to lessen cyber threats.
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 insurance market by region, 2022-2029 (USD Million)
North America
US
Canada
Europe
UK
Germany
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia Pacific
South America
Brazil
Mexico
Rest of South America
Middle East & Africa
10. Competitive Landscape
11. Company Profiles
12. Appendix
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