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Global Cybersecurity Market Size Worth US$ 346 Bn by the end of 2027| CAGR :13.40% | Astute AnalyticaNEW DELHI, Jan. 12, 2022 /PRNewswire/ -- As per the study of Astute Analytica, the Global Cybersecurity Market is anticipated to grow at a CAGR of 13.40% during the forecast period of 2021 to 2027. The market marked a revenue of US$ 162.9 Bn in the year 2021 and is estimated to reach US$ 346 Bn by the end of the year 2027, with around 2.4 times of growth over the study period.  Request for A Sample Report: https://www.astuteanalytica.com/request-sample/cybersecurity-market Global cybersecurity market size is expected to expand based on various factors such as rise in demand for data and information protection across the globe, rise in number of malicious cyber activities. According to one of INTERPOL's private sector partners, 907,000 spam messages, 737 incidents related to malware and 48,000 malicious URLs - all related to COVID-19 were detected during January-April in the year 2020. Further, rise in number of internet users drives the growth of cybersecurity industry across the globe. At the end of 2019, just over half of the world population was using the Internet, but this proportion increased to over 69% among youth (aged 15-24 years). Also, augmented usage of mobile phones, enhanced internet connectivity and M2M (Machine to Machine) connections calls for high security of data which in turn expected to boost the market demand of cybersecurity. Cybersecurity plays an important role as it protects all types of cybercrimes and data theft and damages, which includes sensitive data such as personal information, protected health information (PHI), personal identifiable information (PII), and industrial and governmental information system. The need of enhanced and strengthened cyber security solutions are expected to increase on the verge of rise in various threats such as trojans, multistage attacks and malicious or fraudulent websites. Global Cybersecurity Market Analysis - By Security Type Cyber-attacks hit private systems and businesses every day, and the variety of attacks has increased rapidly. Cybercriminals mainly aims to steal personal information/ data such as personal credentials, credit card details, social security numbers, and other sensitive data. Cybersecurity is the process to prevent data theft and to implement data security measures to protect computers system, networks, cloud information, and other personal data from cyber-attacks. Cloud security segment holds the highest market share of more than 30% in the year 2021, as cloud solution provides with the exact recoveries of information and applications. With minimum downtime, it is major productive recuperation arrange. Increasing demand of cloud security and hybrid cloud platforms such as Amazon Web Services (AWS) and Azure among other key platforms opens a great opportunity in the growth of the global cybersecurity market. As more organizations use cloud security to support both at-office and home-based working environments, it is gaining a significant positive response from the market. Exclusive Discount Offer on this Research Report: https://www.astuteanalytica.com/ask-for-discount/cybersecurity-market Global Cybersecurity Market Analysis- By Region As per the study of Astute Analytica Report, in the year 2021, North America cybersecurity market was holding the highest market share of around 35%, supported by market key players of the region are delivering advanced solutions worldwide. The North America cybersecurity market growth is followed by Europe and Asia Pacific, holding around 51% of the cumulative market share in 2021. As per the researchers, compounded annual growth rate of Asia Pacific cybersecurity industr is estimated around 16.9% during the forecast period. Covid – 19 Impact on Cybersecurity Market As per the analysis, the restrictions imposed by the government across the globe to prevent spread of COVID - 19 had changed working pattern from office or on-site to work from home. This change in working pattern increased the scope of cyber-attacks at individual and organizational levels. During February-May 2020, more than half a million people globally were affected by breaches in which the personal data of video conferencing users was stolen. As per the sources, the average cost of a data breach resulting from remote working can be as much as US$ 137,000. Companies are actively focusing on adopting cybersecurity solutions and methods due to increasing data threats incidents and rising vulnerability of their devices. For instance, in 2018, HP partnered with Aon, the acquired company offers advanced threat mitigation services, cybersecurity and data breach insurance. Therefore, it is estimated that market will grow in the forecast period. Key Players in Cybersecurity Market Global Cybersecurity Market is analyzed to have a monopolistic competition is nature and it is estimated to shift towards oligopoly nature in forecast period of 2021 to 2027. As per the study, it is found that major players have adopted various strategies to have a strong foothold in the global market such as mergers and acquisitions, partnerships, collaborations, joint ventures, and product launches among others. In 2019, IBM announced the completion of its acquisition of Red Hat, positioning IBM as the leading hybrid cloud provider, and accelerating IBM's high value business model. Microsoft largely focuses on partnering with organizations on their digital transformation journey and positioned itself to be the strategic digital transformation platform and partner of choice. Product innovation is the critical part of strategical development along with investments in data center for the company. The major key players in the market are Cisco, IBM, Trend Micro, and Palo Alto holding around 41.60% of the market share and rest is captured by other local players worldwide. Have Any Query Or Specific Requirement? Feel Free To Ask Our Industry Experts At: https://www.astuteanalytica.com/request-sample/cybersecurity-market Segmental Overview of Global Cybersecurity Market Based on enterprise size, large organizations hold the highest market share of nearly 60% in 2021. As large enterprises majorly adopt cybersecurity to safeguard network, endpoints, data centers, devices, users and applications from unauthorized usage and malicious ransomware attacks. However, small & medium sized enterprises (SMEs) are anticipated to augment at a CAGR of 14.8% due to increasing number of cyberattacks on SMEs. As per the research, almost 77% of small and medium sized firms lack the capability and expertise to resist a cybersecurity attack. The Global Cybersecurity Market is divided into six segments based on Component, Security, Deployment, Application, Enterprise Size and Region. By Component
By Security Type
By Deployment
By Application
By Enterprise Size
By Region
Find more research reports on Technology Industry by Astute Analytica About Astute Analytica Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost effective, value added package from us, should you decide to engage with us. Contact us: Aamir Beg
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