Cybersecurity Awareness Training Market Size, Share, Analysis, Trends, Growth, Forecasts, 2032

Cybersecurity Awareness Training Industry Prospective:

The global cybersecurity awareness training market size was worth around USD 4.30 billion in 2023 and is predicted to grow to around USD 21.12 billion by 2032 with a compound annual growth rate (CAGR) of roughly 17.30% between 2024 and 2032.

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Cybersecurity Awareness Training Market: Overview

Cybersecurity awareness training is a fast-emerging segment of the Information Technology (IT) industry dealing with educating stakeholders on data privacy and cybersecurity. Training programs for cybersecurity awareness aim to reduce or eliminate risks of cyber threats while enhancing security awareness among employed personnel. Cybersecurity awareness training programs are generally comprehensive as they cover a large number of topics including a basic understanding of different types of cyber threats, the importance of password security, and several practices for safe internet consumption. Businesses across the globe are acknowledging the requirement to educate employees on cyber hygiene as IT systems have become an integral part of all businesses across sectors and sizes. Cyber threats are known to impact businesses on several fronts, including monetary and non-monetary. Financial losses caused by data breach costs reach up to millions of dollars. During the forecast period, the industry for cyber security awareness training is expected to achieve excellent growth momentum due to the rising cases of cyber threats. However, the cost of training programs as well as lack of compliance among employees could inhibit the industry’s growth rate.

Key Insights:

• As per the analysis shared by our research analyst, the global cybersecurity awareness training market is estimated to grow annually at a CAGR of around 17.30% over the forecast period (2024-2032)
• In terms of revenue, the global cybersecurity awareness training market size was valued at around USD 4.30 billion in 2023 and is projected to reach USD 21.12 billion, by 2032.
• The cybersecurity awareness training market is projected to grow at a significant rate due to the growing use of IT systems across companies worldwide
• Based on the organization size, the large enterprise's segment is growing at a high rate and will continue to dominate the global market as per industry projection
• Based on the training type, the privacy training segment is anticipated to command the largest market share
• Based on region, North America is projected to dominate the global market during the forecast period

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Cybersecurity Awareness Training Market: Growth Drivers

Growing use of IT systems across companies worldwide will drive the market demand rate

The global cybersecurity awareness training market is expected to be driven by the increasing penetration of IT systems across businesses worldwide. The modern commercial infrastructure relies heavily on IT systems, including the Internet, computers, and other digital systems. Companies store confidential company information using the Internet as more digital systems are introduced in the market. While storing and managing information through digital solutions has several advantages, it also makes companies more vulnerable to cyber-crimes. As of May 2024, market research indicates that nearly 94.05% of all major companies globally are leveraging the benefits of cloud computing systems. During the forecast period, cloud technology is expected to take over small and medium-sized enterprises as well. This trend is expected to put more companies at risk of cyber-crimes, necessitating investments in relevant awareness training programs.

Increasing the launch of new and more efficient training programs will generate higher revenue

In recent times, the number of solutions providing training around cybersecurity has grown resulting in greater access among customers. For instance, in August 2024, KnowBe4, one of the global leading providers of simulated phishing platform and security awareness training, announced the launch of a new toolkit for cybersecurity resources. The toolkit is available at zero cost for companies and individuals in association with Cybersecurity Awareness Month. The toolkit is called the Cybersecurity Awareness Month Resource Kit and contains ideas and kits that can assist IT professionals in companies to draft an effective cybersecurity awareness program. In May 2024, the Cybersecurity and Infrastructure Security Agency (CISA) launched the  We Can Secure Our World, a public service announcement (PSA). The recently launched announcement is the second part of the Secure Our World cybersecurity public awareness program. Such initiatives are expected to promote further growth in the global cybersecurity awareness training market.

Cybersecurity Awareness Training Market: Restraints

High cost of training programs may limit the industry’s expansion trend

The global industry for cybersecurity awareness training is projected to be limited due to the cost constraints associated with such projects. Cybersecurity awareness learning can become a major part of company expenses since it deals with training employees on comprehensive lessons about ways to avoid and mitigate cyber threats. Additionally, since cybercrimes are rapidly evolving, the sessions have to be held at frequent intervals to stay updated with the ongoing patterns in the cybercrime industry. These factors may discourage budget-constrained companies from investing in security awareness training programs.

Cybersecurity Awareness Training Market: Opportunities

Growing incidents of cybercrimes will encourage more companies to invest in the market

The global cybersecurity awareness training market is expected to generate more growth opportunities during the projection period due to the rising number of digital crimes globally. In March 2024, the Polish Cyber Defense Army, Poland, announced that it had registered an increase in Distributed Denial-of-Service attacks. The national agency had located the origin of the attacks in Russia. In August 2023, the Netherlands conducted an ethical hacking activity for the solar panels installed in the Dutch region. A white hat hacker can easily hack the solar panels using a backdoor. This finding is expected to help official agencies ensure the loopholes are corrected in time. In September 2023, MGM Resorts, a global entertainment and gaming company, encountered a ransomware attack that cost the firm around USD 100 million. The ransomware caused disruptions at MGM Palaces located in Las Vegas. Apart from larger firsts, small-sized companies and individuals have also become victims of cybercrimes. In 2023, India reported more than 79.12 million phishing attacks, according to market research.

Cybersecurity Awareness Training Market: Challenges

Non-compliance with training protocols is a major challenge for the market players

One of the key challenges faced by the global cybersecurity awareness training industry players is the lack of compliance from individuals or companies to protocols. The efficiency of security awareness training depends on individuals implementing the guidelines. Non-compliance to the protocol effectively eliminates the actual impact of training programs. Moreover, poorly designed training programs may fail to deliver the expected results.

Cybersecurity Awareness Training Market: Segmentation

The global cybersecurity awareness training market is segmented based on organization size, training type, and region.

Based on the organization size, the global market segments are mid-sized enterprises, small enterprises, and large enterprises. In 2023, the highest growth was observed in the large enterprises segment. These companies tend to incorporate several digital solutions required for business operations, including customer relationship management, communication and collaboration applications, and enterprise resource planning (ERP) systems. In August 2021, Google announced an investment of USD 10 billion for improving cybersecurity measures.

Based on the training type, the global market segments are app/contextual training, privacy training, role-based training, and secure code training. In 2023, the highest growth was registered in the privacy training segment. The rising focus on implementing policies for improving customer privacy measures has resulted in greater demand for privacy training. It deals with processes that help maintain data privacy. For instance, non-compliance with the European General Data Protection Regulation Act is around €10 million or 2% of an annual global turnover.

Cybersecurity Awareness Training Market: Report Scope

Cybersecurity Awareness Training Market: Regional Analysis

The US to top the North American market during the forecast period

The global cybersecurity awareness training market is projected to be led by North America during the projection period. The US will emerge as the leading revenue generator as the country has one of the world’s most renowned cybersecurity awareness training providers. Regional IT giants are investing heavily in developing new educational programs and tools for improving the efficiency of cybersecurity awareness training initiatives. Companies in the US have witnessed a sharp rise in cyber-attacks in recent times. In June 2024, the US Justice Department announced that it had disrupted a botnet. The network of private computers equipped with malicious software was being used for committing several crimes in the country including child exploitation, large-scale fraud, export violations, and bomb threats.

Europe is projected to deliver a significant growth rate in the cybersecurity awareness training industry in the coming years. Several nations in the European Union have been at the forefront of fighting cybercrimes. The GDPR law in Europe is one of the world’s most comprehensive data privacy laws. In March 2024, the European Parliament announced the approval of the Cyber Resilience Act (CRA) which focuses on improving the security of connected devices.

Cybersecurity Awareness Training Market: Competitive Analysis

The global cybersecurity awareness training market is led by players like:

• CyberAware
• ESET
• ThreatSim
• Sumo Logic
• Infosec
• KnowBe4
• SecurityIQ
• Wombat Security (part of Proofpoint)
• Skillsoft
• SANS Institute
• PhishLabs
• Proofpoint
• Mimecast
• Cofense
• Barracuda Networks.

The global cybersecurity awareness training market is segmented as follows:

By Organization Size

• Mid-Sized Enterprises
• Small Enterprises
• Large Enterprises

By Training Type

• In App/Contextual Training
• Privacy Training
• Role-Based Training
• Secure Code Training

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