Cyber Security Market Forecast to 2032
The Global Cybersecurity Market research report is a complete document that explains the most recent breakthroughs and advancements in the Cybersecurity industry, using 2019 as the base year and 2022–2032 as the forecast year. The analysis offers insightful data on the market's size, share, sales channels, distribution networks, market segmentation, consumer demands and trends, and growth prospects. The expansion of regional and global markets is also examined in the study. In the paper, the effect of the COVID-19 pandemic on the market for Cybersecurity and its important sectors is studied.
The global cybersecurity market size reached USD 203.8 billion in 2022 and is expected to register a revenue CAGR of 12.2% during the forecast period, according to the latest analysis by Emergen Research. The increasing number of new tools for cyber-attacks and the rapid adoption of Cybersecurity Mesh Architecture (CSMA) by organizations are key factors driving the revenue growth of the market.
The purpose of CSMA is to modularize security functions and allow them to communicate with one another via a number of supporting layers, increasing security's composability and scalability. A company can accomplish greater security with fewer resources due to CSMA's ability to make security more unified and collaborative. These factors are expected to drive revenue growth in the market over the forecast period.
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The global Cyber Security market report employs an extremely extensive and perceptive process that analyzes statistical data relating to services and products offered in the market. The research study is a pivotal document in understanding the needs and wants of the clients. The report is comprised of significant data about the leading companies and their marketing strategies. The Cyber Security industry is witnessing an expansion and change of dynamics owing to the entry of several new players.
The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
IBM Corporation, Cisco Systems, Juniper Networks, CyberArk, Forcepoint, McAfee, Microsoft, F5 Networks, Oracle, and Fortinet
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Some Key Highlights From the Report
- The service segment accounted for a significant revenue share in the global cybersecurity market in 2022. This can be attributed to rapid increase in threats of cyber-attack across the globe. Major Information Technology (IT) companies are providing various security services in order to provide protection to cyber infrastructure of end-user companies to meet rising demand. This is driving revenue growth of the segment.
- The infrastructure protection segment accounted for largest revenue share in 2022. The modern business environment is becoming more digital, along with increasing number of targeted cyberattacks on vital infrastructure and IT systems. Implementing infrastructure security enables businesses to foresee, respond to, and guard against a wide range of threats as well as major incidents impacting critical infrastructure environments.
- The Identity and Access Management (IAM) segment is expected to account for largest revenue share over the forecast period, which can be attributed to increasing usage of IAM solutions by IT and security organizations to manage user identities and restrict access to corporate resources.
- The Defense & government segment is expected to account for largest revenue share over the forecast period. This can be attribute to increasing number of cyber-attacks aimed at government agencies and public organizations, which has led to rising demand for cybersecurity solutions.
- The market in North America is expected to register largest revenue share over the forecast period. Conducive government policies such as Infrastructure Investment and Jobs Act in order to drive investment and strengthen cybersecurity and protect sensitive data.
- On 19 December 2022, CrowdStrike expanded its Falcon platform with an addition of an External Attack Surface Management (EASM) module. The service uses a proprietary engine to continuously search the internet to find customers' known and unknown exposed assets, flags and prioritizes the risks, and provides automated remediation step suggestions through the optimizer services.
Market Overview:
The report bifurcates the Cyber Security market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Component Outlook (Revenue, USD Billion; 2019–2032)
- Hardware
- Software
- Solution Outlook (Revenue, USD Billion; 2019–2032)
- Threat Intelligence
- Identity and Access Management
- Security and Vulnerability Management
- Risk and Compliance Management
- Others (Others include threat intelligence platforms, SIEM, and incident forensics)
- Network DLP
- Storage/ Data Center DLP
- Endpoint DLP
- Network-based
- Host-based
- Wireless
- Services Outlook (Revenue, USD Billion; 2019–2032)
- Professional Services
- Design and Integration
- Risk and Threat Assessment
- Consulting
- Training and Education
- Support and Maintenance
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The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Furthermore, the report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams. This enables readers to understand the market scenario in an easy and beneficial manner. Moreover, the report aims to impart a prospective outlook and draw an informative conclusion to assist the reader in making lucrative business decisions. The report, in conclusion, provides a detailed analysis of the segments expected to dominate the market, the regional bifurcation, the estimated market size and share, and comprehensive SWOT analysis and Porter’s Five Forces Analysis.
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