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Cybersecurity Global Market Report 2023: Sector is Expected to Reach $699.4 Billion in 2032 at a CAGR of 14.2%
DUBLIN, May 4, 2023 /PRNewswire/ -- The "Cybersecurity Global Market Opportunities and Strategies to 2032" report has been added to ResearchAndMarkets.com's offering.
This report provides the strategists; marketers and senior management with the critical information they need to assess the global cybersecurity market as it emerges from the COVID-19 shut down.
The cybersecurity market reached a value of nearly $201,328.0 million in 2022, having grown at a compound annual growth rate (CAGR) of 11.0% since 2017. The market is expected to grow from $201,328.0 million in 2022 to $360,449.9 million in 2027 at a rate of 12.4%. The market is then expected to grow at a CAGR of 14.2% from 2027 and reach $699,417.6 million in 2032.
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This report describes and explains the cybersecurity market and covers 2017 to 2022, termed the historic period, and 2022 to 2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region.
Growth in the historic period resulted from the increasing number of cyber-attacks, strong economic growth in emerging markets, emergence of start-ups and the COVID-19 pandemic.
Going forward, increasing internet penetration, rising number of e-commerce platforms, internet of things (IoT) and need for authentication techniques will drive the growth. Factors that could hinder the growth of the cybersecurity market in the future include intense competition, use of pirated cybersecurity solutions and the Russia-Ukraine war.
The cybersecurity market is segmented by solution into infrastructure protection, network security, endpoint security, data security, application security, cloud security and other solutions. The infrastructure protection market was the largest segment of the cybersecurity market segmented by solution accounting for 28.0% of the total in 2022. Going forward, the cloud security market is expected to be the fastest growing segment in the cybersecurity market segmented by solution, at a CAGR of 15.0% during 2022-2027.
The cybersecurity market is segmented by enterprise size into small and medium enterprise and large enterprise. The large enterprise market was the largest segment of the cybersecurity market segmented by enterprise size accounting for 70.0% of the total in 2022. Going forward, the small and medium enterprise market is expected to be the fastest growing segment in the cybersecurity market segmented by enterprise size, at a CAGR of 14.4% during 2022-2027.
The cybersecurity market is segmented by deployment type intocloud and on premises. The on premises market was the largest segment of the cybersecurity market segmented by deployment type accounting for 64.7% of the total in 2022. Going forward, the cloud market is expected to be the fastest growing segment in the cybersecurity market segmented by deployment type, at a CAGR of 14.2% during 2022-2027.
The cybersecurity market is segmented by end-user into BFSI, IT and telecommunications, retail, healthcare, government, manufacturing, travel and transportation, energy and utilities and other end-users. The BFSI market was the largest segment of the cybersecurity market segmented by end-user accounting for 19.5% of the total in 2022. Going forward, the healthcare market is expected to be the fastest growing segment in the cybersecurity market segmented by end-user, at a CAGR of 13.8% during 2022-2027.
Asia Pacific was the largest region in the cybersecurity market, accounting for 38.7% of the total in 2022. It was followed by Asia Pacific, and then the other regions. Going forward, the fastest-growing regions in the cybersecurity market will be South America, and, Middle East where growth will be at CAGRs of 24.9% and 21.4% respectively. These will be followed by Africa, and, Asia Pacific where the markets are expected to grow at CAGRs of 15.1% and 11.9% respectively.
The cybersecurity market is fragmented, with a large number of small players. The top ten competitors in the market made up to 8.39% of the total market in 2021.
Palo Alto Networks Inc. was the largest competitor with 1.76% share of the market, followed by Cisco Systems Inc. with 1.31%, Dell Technologies Inc. with 1.04%, McAfee, Inc. with 0.90%, Broadcom with 0.78%, Nortonlifelock Inc. with 0.74%, IBM Corporation with 0.70%, Trend Micro Inc. with 0.57%, Check Point Software Technologies Ltd with 0.38%, and AVG Technologies with 0.22%.
The top opportunities in the cybersecurity market segmented by solution will arise in the infrastructure protection segment, which will gain $46,923.5 million of global annual sales by 2027. The top opportunities in segment by enterprise size will arise in the large enterprise segment, which will gain $101,259.6 million of global annual sales by 2027.
The top opportunities in segment by deployment type will arise in the on premises segment, which will gain $92,242.2 million of global annual sales by 2027. The top opportunities in segment by end-user will arise in the BFSI segment, which will gain $ 34,202.5 million of global annual sales by 2027. The cybersecurity market size will gain the most in the USA at $43,038.1 million.
Market-trend-based strategies for the cybersecurity market include leveraging, artificial intelligence (AI), machine learning and blockchain technologies for cyber defense, focusing on cloud-based cybersecurity strategies, offering app-based 2FA is used to help organizations become safer and less vulnerable to cyber-attacks, taking up ITIL/ISO certifications to align software services with business requirements and focusing on automation and integration to improve efficiency.
Player-adopted strategies in the cybersecurity market include focusing on strategic acquisitions for enhancing offerings, providing innovative solutions through the launch of new solutions, focusing on automated cybersecurity solutions through strategic collaborations and partnerships and strengthening business opportunities through the launch of new products.
Key Topics Covered:
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
6. Introduction And Market Characteristics
6.1. General Market Definition
6.2. Summary
6.3. Cybersecurity Market Definition and Segmentations
6.4. Market Segmentation By Solution
6.4.1. Infrastructure Protection
6.4.2. Network Security
6.4.3. Endpoint Security
6.4.4. Data Security
6.4.5. Application Security
6.4.6. Cloud Security
6.4.7. Other Solutions
6.5. Market Segmentation By Enterprise Size
6.5.1. Small And Medium Enterprise
6.5.2. Large Enterprise
6.6. Market Segmentation By Deployment Type
6.6.1. Cloud
6.6.2. On Premises
6.7. Market Segmentation By End-User
6.7.1. BFSI
6.7.2. IT And Telecommunications
6.7.3. Retail
6.7.4. Healthcare
6.7.5. Government
6.7.6. Manufacturing
6.7.7. Travel And Transportation
6.7.8. Energy And Utilities
6.7.9. Other End-Users
7. Major Market Trends
7.1. Leveraging AI, Machine Learning And Blockchain Technologies For Cyber Defense
7.2. Cloud-Based Cybersecurity Services
7.3. App-Based Two-factor authentication (2FA)
7.4. ITIL/ISO Certifications In The Cybersecurity Industry
7.5. Cybersecurity Automation and Integration
8. Global Market Size and Growth
8.1. Market Size
8.2. Historic Market Growth, 2017 - 2022, Value ($ Million)
8.2.1. Market Drivers 2017 - 2022
8.2.2. Market Restraints 2017 - 2022
8.2.3. High R&D Expenditure
8.3. Forecast Market Growth, 2022 - 2027, 2032F Value ($ Million)
8.3.1. Market Drivers 2022 - 2027
8.3.2. Market Restraints 2022 - 2027
9. Global Cybersecurity Market Segmentation
9.1. Global Cybersecurity Market, Segmentation By Solution, Historic And Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
9.2. Global Cybersecurity Market, Segmentation By Deployment Type, Historic And Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
9.3. Global Cybersecurity Market, Segmentation By Enterprise Size, Historic And Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
9.4. Global Cybersecurity Market, Segmentation By End-User, Historic And Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
10. Cybersecurity Market, Regional and Country Analysis
10.1. Global Cybersecurity Market, By Region, Historic and Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
10.2. Global Cybersecurity Market, By Country, Historic and Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
For more information about this report visit https://www.researchandmarkets.com/r/mheno9
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