CAGR +13.4% , Cybersecurity Market To Watch: Big Spotlight On Market Giants | McAfee, Trend Micro Incorporated, IBM Corporation, Microsoft – –

Global Cybersecurity Market, By Component (Solution, Services), Security (Network Security, Endpoint Security, Cloud Security), Deployment (Cloud-Based, On-Premise), Application (BFSI, Healthcare, Manufacturing), Enterprise Size Forecast till 2027  , Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Cybersecurity market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Cybersecurity market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region
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Key Segments Studied in the Global Cybersecurity Market
Market Introduction
The global Cybersecurity market was valued at USD 149.7 Billion in 2020 and is projected to reach USD 346.0 Billion by the year 2027. The market is expected to register a CAGR of 13.4% during the forecast period.
Cybersecurity is the application of processes, technologies, and controls to protect networks, systems, devices, data, and programs from potential cyber-attacks. The market is majorly driven by the growing demand for cybersecurity mesh and the rising number of data breach incidents worldwide. Furthermore, the rapid technological advancements requiring more advanced, as well as secure business models, are also expected to contribute to the market growth. For instance, in June 2021, Palo Alto Networks’ Prisma Cloud announced new updates to its Security Posture Management (CSPM) solution. The solution aids in eliminating unsafe cloud blind spots and frees security teams from the lumber of alert fatigue. In addition, the increasing penetration of IoT devices is estimated to fuel market growth.
Growth Influencers:
Growing demand for cybersecurity mesh
Cybersecurity mesh involves design as well as implementation of an IT security infrastructure. It establishes smaller and individual perimeters around each access point and does not focus on building a single perimeter around all nodes or devices of an IT network. With the COVID-19 pandemic, as functional hybrid working models were developed, there were structural changes that had to be made for businesses. This also resulted in evolving and shifting the way, cybersecurity was dealt with. As the demand for flexible and agile systems is increasing, the demand for cybersecurity mesh has also accelerated.
Rising number of data breach incidents worldwide
With the increasing number of data breaches, the demand for cybersecurity solutions is also rising. According to Varonis, due to the pandemic, around 50% of Americans were concerned regarding data breaches in natural disasters and personal safety. Presently, data breaches impact thousands of consumers in one attack itself on an organization. For instance, according to Varonis, on 18 February 2021, the California Department of Motor Vehicles (DMV) alerted the drivers regarding a data breach, after the billing contractor, Automatic Funds Transfer Services, was hit by a ransomware attack. Furthermore, on April 14, 2020, credentials of around 500,000 Zoom accounts were found on the dark web for sale.
Rapid technological advancements requiring more advanced and secure business models
The ability of small and medium-sized enterprises to survive and also thrive, especially in the pandemic, has been dependent on the use and adoption of technology. As technology has become more integrated into everybody’s lives, the importance of cybersecurity has increased more. Many market players are investing in partnerships as well as product launches, to bring in new technologies to the market. For instance, in May 2021, Qualys Inc., introduced a new cybersecurity asset management solution, which is built on the Qualys Cloud Platform, to inventory the complete IT ecosystem, detect potential security gaps and react to the risk, all from a integrated platform. Such technological advancements fuel market growth.
Increasing penetration of IoT devices
With the advent of technology, the demand for IoT devices is also increasing. These devices are potentially vulnerable, due to the lack of efficient security solutions. This is anticipated to boost the demand for cybersecurity solutions for IoT devices. With the COVID-19 pandemic, the demand for managed security for IoT devices by companies has increased, to safeguard the data of their employees as well as the organization. This is also positively impacting the market growth.
Segments Overview:
The global cybersecurity market is segmented into component, security, deployment, enterprise size, and application.
By component
–           Threat Intelligence
–           Encryption
–           Data Loss Prevention
–           Unified Threat Management
–           Firewall
–           Intrusion Detection Systems/ Intrusion Prevention Systems
–           Disaster Recovery
–           Distributed Denial of Service
–           Others
–           Professional Services
–           Managed Security Services
The solutions segment accounts for the largest share of more than 65% due to the high adoption of cybersecurity solutions. The services segment is expected to grow at the fastest CAGR owing to the increasing number of market players adopting cybersecurity services.
By Security,
The network security segment accounted for the largest share of around 25%, as it is meant to protect the integrity, accessibility, and confidentiality of computer networks and data by using both hardware as well as software technologies.
By Deployment,
The cloud-based segment is expected to be the fastest-growing segment based on deployment. The demand for cloud-based solutions is increasing, as more and more applications are getting deployed on the cloud, hence requiring cybersecurity solutions for the cloud-based solutions.
By Enterprise Size,
The small and medium-sized enterprises segment accounted for the largest market share in the enterprise size segment. The rising number of small and medium-sized enterprises is estimated to fuel the market growth of the segment.
By Application,
The BFSI segment accounted for the largest market share of more than 22% in the application segment. The healthcare segment is expected to grow at the fastest growth rate owing to the rampant growth of cybercrime activities in healthcare facilities, such as data breaches, threats, and ransomware, among others.
Regional Overview
On regional basis, the global Cybersecurity market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The North American region accounted for the largest market share of more than 34% in the global market. This is due to the prominent presence of prominent market players in the region, especially in the U.S. These market players include McAfee, IBM Corporation, Microsoft, and Palo Alto Networks, among others.
The European region holds the second largest market share in the global market, owing to the rising spending on security services as well as solutions by SMEs and large enterprises in the region. The Asia Pacific region is anticipated to grow at the fastest growth rate owing to a large number of data attacks in the region.
Competitive Landscape
Key players operating in the global Cybersecurity market include McAfee, Trend Micro Incorporated, IBM Corporation, Microsoft, BAE Systems, Inc., Check Point Software Technology Ltd., F5 Networks, EMC Corporation, FireEye, Inc., Proofpoint Inc., Sophos PLC, Fortinet, Inc., Cisco Systems Inc., Symantec Corporation, Juniper Networks, Palo Alto Networks, Inc., and Qualys Inc., among others.
The cumulative market share of the four major players is near about 37%. These market players are engaged in partnerships, new product launches, mergers & acquisitions to strengthen their market presence. For instance, in July 2021, McAfee signed a partnership with Visa. This enabled North America and EMEA-based financial partners of Visa to provide internet security to Visa Business cardholders.
The global Cybersecurity market report provides insights on the below pointers:
The global Cybersecurity market report answers questions such as:
Our market research provides vital intelligence on market size, business trends, industry structure, market share, and market forecasts that are essential to developing business plans and strategy.
A combination of factors, including COVID-19 containment situation, end-use market recovery & Recovery Timeline of 2020/ 2021
Under COVID-19 Outbreak Impact Analysis:
We analyzed industry trends in the context of COVID-19. We analyzed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyze the impact of COVID-19 on various regions and major countries.
The impact of COVID-19 on the future development of the industry is pointed out.
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Geographical Breakdown: The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery path of Covid 19 for all regions, key developed countries and major emerging markets.
Countries: Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam
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