The Global Cyber Security Market is accounted for $95.15 billion in 2017 and is expected to reach $365.26 billion by 2026 growing at a CAGR of 16.1% from 2017 to 2026

LONDON, August 30, 2018 /PRNewswire/ -- According to Stratistics MRC, the Global Cyber Security Market is accounted for $95.15 billion in 2017 and is expected to reach $365.26 billion by 2026 growing at a CAGR of 16.1% from 2017 to 2026. Stringent compliance & regulatory requirements, rising demand for IT security budget, growing attractiveness of digitalization, increasing cyber attacks and growing awareness of the security risks are the factors fueling the market growth. However, lack of awareness regarding benefits of effective security solutions especially in Small and Medium Enterprises (SMEs) are restricting the growth of the market.

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Cyber security is a body of technologies, processes and practices designed to protect networks, computers, programs and data from unauthorized access. Cyber security is basically computer security. There is a significant increase in the cyber security because cyber security solutions increase cyber speed and offers number of options to save data. Cyber security is coupled with information technology security, which focuses on protecting computers and confidential data stored in it from cyber criminals. Cyber security market offers a number of advantages including enhanced security of cyberspaces, expanded digital safeguard and quicker reaction time to national crises. These advantages of cyber security market automatically enhance the value of service given to the market end-users.

Amongst Deployment Mode, On-premises held considerable market share as it provide high level of security and complete control over the critical data. Government, banking, financial services, and insurance (BFSI), and manufacturing sectors widely implement the on-premises cyber security solutions. By geography, North America dominated the market during the predicted period due to existence of prominent players offering enhanced solution and services to all the sectors in the region.

Some of the key players in Cyber Security market include Centrify Corporation, Checkpoint Software Technologies Ltd, Cisco Systems, Dell EMC (RSA Security), EMC Corporation, FireEye, HPE IBM Corporation, INTEL SECURITY (U.S.), Kaspersky Labs India Private Limited, RAPID7, INC. (U.S.), Sophos, Symantec Corporation, Trend Micro, Verizon Communications, Palo Alto Networks, McAfee, Juniper Networks, Fortinet, Hewlett Packard Enterprise (HPE), Imperva, Cyber Ark Software, Ltd, AVG Technologies and Proofpoint, Inc.

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