Regardless of a company’s size or income, the most recent research report from Quadintel offers a thorough analysis of the global Cybersecurity Market for the years 2023–2030.
The global market report provides statistics and information on the evolution of the investment structure, technological advancements, industry trends and developments, market players’ capabilities, and in-depth details on the major market players. The analysis also includes a summary of the global market strategies that have been implemented in light of the industry’s present and future conditions.
An overview of the Cybersecurity Market, the current state of the industry, market trends, significant market participants, product type, application, and geography are provided at the beginning of the study. It also covers how COVID-19 has affected market participants, end-user industries, future predictions, growth potential, and worldwide market trends.
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The Cybersecurity Market is anticipated to expand at a compound annual growth rate (CAGR) of 11.6% during the period of 2022 to 2030
The global cybersecurity market is expected to witness high adoption, owing to rapid digitalization, higher spending on information security, and the advent of 5G. Various industrial and commercial sectors are implementing cybersecurity solutions to safeguard their data.
Solution segment insights:
Governance, risk and compliance solutions occupied a market share of 51% in 2017, as most of the global compliance norms necessitates data security. Government departments are the largest consumers of these solutions as they need to maintain huge volumes of data, including information of the citizens, government strategies and planning, etc.
Identity and access management (IAM) solutions also occupy a large share (26%) of the market. Stolen credentials of employees is the leading facilitator of system hacking cases and data breach incidents, which is expected to cost businesses around USD 2 Tn by 2019, globally. Hence, stronger mechanisms such as multi-factor and biometric authentication are witnessing a rapid adoption. Encryption solutions is gaining grounds due to proliferation of data shared on social media and stored in virtual storage devices. It is expected to expand at a CAGR of 17.9% during the forecast period.
End use industry segment insights:
The financial services industry is the largest consumer of cybersecurity solutions, with a global share of 39% in 2017. With the digitalization of financial services, cyberattacks continue to threaten data privacy and customer loyalty. Advancements in machine learning and analytics allow financial organizations to detect abnormalities in transaction of data, and take necessary corrective actions. Sectors such as government, telecommunications, and healthcare occupy 20%, 16%, and 15% of the market, respectively, in 2017. High growth is expected in the defense sector during the forecast period due to increasing use of Internet of Things (IoT) to connect aircraft, ground vehicles, ships, and weapons systems.
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Companies covered:
1. Symantec Corporation
2. Check Point Technology Ltd.
3. Palo Alto Networks
4. Fortinet
5. FireEye
6. Trend Micro Inc.
7. Proofpoint Corp.
8. KPMG
9. IBM Corp.
Regional insights:
North America has shown the highest adoption of cybersecurity market products, and occupied approximately 37% of the global market in 2017. Across the United States (U.S.), private and public agencies are implementing cybersecurity systems in order to safeguard their stakeholders. Recently, the U.S. Defense Secretary established a task force to recommend ways to curb theft of critical technologies by adversary countries. Europe and Asia-Pacific comprised 25% and 20%, respectively, of the global cybersecurity market. Since the adoption of the European Union’s (EUs) cybersecurity strategy in 2013, the European Commission has pushed up its activities and efforts to provide better security to Europeans in various online activities. The Latin America market has started to pick up as the Brazilian government signed a contract in 2017 with Microsoft to update its cybersecurity systems in order tackle the repeated cyberattacks coming from WannaCry ransomware.
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Report Include:
- Market Behavior/ Level of Risk and Opportunity
- End Industry Behavior/ Opportunity Assessment
- Expected Industry Recovery Timeline
Key Market Features in Global Market: The report assessed key market features, including revenue, capacity, price, capacity utilization rate, production rate, gross, production, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. The study also offers a thorough analysis of the most important market factors and their most recent developments, as well as pertinent market segments and sub-segments.
In this report, the following important queries are addressed:
- What is the Global market’s sales value, production value, consumption value, import, and export (including North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
- Who are the major manufacturers in this sector on a global scale? How are their capacity, production, sales, pricing, cost, gross, and revenue operating?
- What are the vendors’ market prospects and risks in the international industry?
- Which product types, end users, or applications might be looking for additional growth prospects? What is each type’s and application’s market share?
- What specific strategies and limitations are keeping the market in check?
- What is the various marketing, sales, and distribution channels in the international market?
- What are the upstream raw materials, as well as the manufacturing machinery?
- What are the market opportunities, market risk, and market overview of this industry?
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