Cyber Security Market Size, Share, Value, Analysis 2028

The global Cyber Security Market accrued earnings worth approximately 139(USD Billion) in 2021 and is predicted to gain revenue of about 210(USD Billion) by 2028, is set to record a CAGR of nearly 10.1% over the period from 2022 to 2028. The study provides assessment and analysis of the Cyber Security Market on a global & regional level. It offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2021 along with a forecast from 2022 to 2028 based on revenue (USD Billion).

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Cyber Security Market: Synopsis

Cyber security is the use of technologies, processes, and controls for protecting networks, devices, and confidential data from cyber-attacks. Furthermore, cyber security tools also protect computer system against theft, information disclosure, and software & hardware damage as well as disruption of electronic information in coded format. Moreover, there are various kinds of cyber threats including malware, formjacking, backdoors, cryptojacking, DNS poisoning attacks, and DDoS attacks. Hence, to counter such cyber-attacks, strong cyber security has become a need of the moment.    

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Cyber Security Market: Growth Dynamics

Rise in cybercrimes over last few years has led to massive financial losses for business, thereby boosting demand for cyber security systems. Additionally, rise in use of e-commerce tools and breakthroughs in disruptive technologies including AI and connected things has resulted in surge of cyber-crimes that can take undue advantage of weak cyber-security. Hence, need for strong cyber-security due to growing cyber security concerns will drive market trends. In addition to this, rise in need for cloud security has resulted in massive necessity of cyber security technologies, thereby boosting cyber security market trends.

Furthermore, rapid expansion of security services in healthcare, manufacturing, and government sectors will proliferate size of cyber security market. In addition to this, key players are focusing on introducing robust security solutions for safeguarding industrial functions along with combating cyber terrorism. This will promulgate scope of cyber security market growth. Citing an instance, in December 2020, IBM Corporation introduced IBM security X-Force for determining cyber-attacks. Apart from this, the firm introduced phishing campaign across nearly six countries.

The cyber security market has shown exponential growth in past few years. The major driving factor for the global cyber security market is increasing the stringency of government regulations and growing cyber threats. Demand for integrated cyber solutions is another key factor anticipated to drive the market growth in the years to come. Furthermore, rising severity of cyber-crimes, the popularity of cloud security, rapid adoption of cloud computing, data center, and wireless communication are expected to boost the cyber security market in the near future. However, lack of effective defense major is expected to hamper the market growth. Growing demand for cyber security products and services is expected to open up new growth opportunities in the forecast period.

Cyber Security Market: Segmentation

Based on security types, the global cyber security market is segmented into network security, cloud security, wireless security and others. Among all, network security was the leading type segment of the global cyber security market. It accounted more than 40% shares of the overall market in 2015. On the basis of solution cyber security market is classified into identity and access management (IAM), encryption, risk and compliance management, data loss prevention, antivirus and antimalware, firewall and others. Based on vertical of cyber security, the market is segmented into categories such as aerospace, government, financial services, telecommunication, healthcare, and others.

Cyber Security Market Report Scope:

Cyber Security Market: Regional Landscape

North America Cyber Security Market To Expand Leaps & Bounds By 2028

Growth of cyber security market in North America over forecasting timeframe is subject to rise in high section security breaches leading to humungous demand for cloud application security solutions in countries such as Canada and the U.S. Rise in online e-commerce tools will provide impetus to expansion of cyber security market in North America. Reportedly, regional government executes modern network security protocols     for providing improved secured measures for firms.

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Cyber Security Market: Competitive Landscape

Key participants profiled in report and influencing growth of market are:

• McAfee Corp.
• Symantec Corporation
• Zscaler, Inc.
• Microsoft Corporation
• Booz Allen Hamilton Holding Corporation
• Sophos Ltd.
• IBM Corporation
• Northrop Grumman Corporation
• Palo Alto Networks, Inc.
• Broadcom, Inc.
• Fortinet, Inc.
• Cisco Systems, Inc.

The global Cyber Security  Market is segmented as follows:

By Security Type

• Network Security
• Cloud Security
• Wireless Security
• Others

By Solution

• Identity And Access Management (IAM)
• Encryption
• Risk And Compliance Management
• Data Loss Prevention
• Antivirus & Antimalware
• Firewall
• Others

By Vertical

• Aerospace
• Government
• Financial Services
• Telecommunication
• Healthcare
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa