New Year and Chrismas Offer
Cybersecurity Market

Cybersecurity Market Size, Share and Segmentation by Component (Solution and Service), by Solution (Identity & Access Management, Infrastructure Security, Governance Risk & Compliance, Unified Vulnerability Management Service Offering, Data Security & Privacy Service Offering, and Others), by Deployment Model (Cloud and On-Premise), by Enterprise Size (Large Enterprises and SMEs), by Industry Vertical (Telecom, Automotive, BFSI, Public Sector, Retail, Healthcare, IT, Energy & Utilities, Manufacturing, and Others), by Regions and Global Market Forecast 2022-2028

Report Id: SNS/ICT/1242 | May 2022 | Region: Global | 130 Pages

Report Scope & Overview:

The Cybersecurity Market Size was valued at USD 210.47 billion in 2021 and is expected to reach USD 384.08 billion by 2028, and grow at a CAGR of 8.3% over the forecast period 2022-2028.

Cyber security refers to the safeguarding of equipment linked to the internet that defends against numerous risks in cyberspace. It involves protecting software, data, and hardware, as well as aiding in the prevention of fraudsters gaining access to devices or networks. Businesses require cyber security to secure their data, cash, and intellectual property. Individuals require it for similar reasons, however intellectual property is less of a worry and the risk of losing important information, such as family photographs, is higher. Once it pertains to governmental body services, cyber security assures that the public can continue to rely on them.

Cyber Security Market

The surge in malware and phishing threats among businesses, as well as the adoption of IoT and the BYOD trend, are driving the cyber security industry forward. Furthermore, the increased demand for cloud-based cyber security solutions has a beneficial influence on market growth. However, market development is hampered by financial restrictions among businesses and the complexity of device security. Increased usage of mobile device apps and platforms, the requirement for robust authentication techniques, and the transition of the conventional antivirus software sector, on the other hand, are projected to provide lucrative prospects for market development throughout the forecast period.

MARKET DYNAMICS:

KEY DRIVERS:

  • The increasing sophistication of cyber assaults is responsible for the market's rise.

  •  Businesses throughout the world have boosted their investment on advanced information security technology to bolster their in-house security infrastructures since cybercrime has expanded considerably.

RESTRAINTS:

  • Cybersecurity requirements are outpacing money set aside to solve them.

  •  Most small businesses do not have the financial resources or IT security knowledge to implement advanced cybersecurity solutions to protect their networks and IT infrastructures from different cyber assaults.

OPPORTUNITIES:

  • Because of its powerful and flexible infrastructure, cloud computing architecture is frequently used.

  • Many businesses are turning to cloud solutions to ease data storage and allow remote server accessible through the internet, giving them access to almost infinite computer capacity.

CHALLENGES:

  • The design and execution problems of deploying the cybersecurity model on a new or existing infrastructure are numerous.

  • The paradigm encourages enterprise IT teams to rethink network security, moving away from a network perimeter-based strategy and toward a user-based and application-based approach.

  • Redesigning and redeploying online and mobile apps may be time-consuming and exhausting.

IMPACT OF COVID-19:

The COVID-18 outbreak is expected to have a favorable influence on the cyber security industry's growth. This is due to the advent of COVID-18; organizations will be able to manage security challenges and promote safe information access when working remotely by utilizing cyber security services. Furthermore, as internet traffic has increased, the risk of cyber-attacks has increased dramatically in many businesses, necessitating the deployment of cyber security services. Market growth has been spurred by innovations and developments in cyber security solutions, such as cloud security and AI-integrated solutions, as well as a rise in the number of cyber-attacks since the pandemic began. According to research from Palo Alto Networks' Unit 42 security consultancy division, the average ransomware payment increased by 82 percent from $314,000 in 2020 to $570,000 in the first half of 2021. As a result, an increase in ransomware or cyber-attacks boosts demand for cyber security solutions and services, propelling the worldwide cyber security market forward.

MARKET ESTIMATION:

Components, solutions, deployment models, enterprise size, industry vertical, and geography are all used to segment the worldwide cyber security market. The market is divided into solutions and services based on the component. The market is divided into identity and access management, infrastructure security, governance, risk, and compliance, unified vulnerability management service providing, data security and privacy service offering, and others based on the solution. It is divided into cloud and on-premises deployment models. Large businesses and small businesses are divided into two categories based on their size. Telecom, automotive, BFSI, public sector, retail, healthcare, IT, energy & utilities, manufacturing, and others are the different industrial verticals.

KEY PLAYERS:

Major vendors in the global cybersecurity market include IBM (US), Cisco (US), Check Point (Israel), FireEye (US), Trend Micro (Japan), Norton LifeLock (US), Rapid7  (US), Micro Focus (UK),  Microsoft (US), Amazon Web Services (US),  Oracle (US),  Fortinet (US), Palo Alto Networks (US), Accenture (Ireland), McAfee (US).

Cybersecurity Market

MARKET SEGMENTATION:

On the basis of components:

  • Hardware

  • Software

  • Services

On the basis of Software:

  • APT

  • Threat Intelligence Platform

  • SIEM

  • Security and Vulnerability Management

  • Network Access Control

  • Antivirus/Antimalware

  • Firewall

  • Secure Web Gateway

  • SOAR

  • IAM

  • Encryption

  • Disaster Recovery

  • IDS/IPS

  • Risk and Compliance Management

  • Others

On the basis of Security type:

  • Network security

  • Endpoint security

  • Application security

  • Cloud security

  • Others

On the basis of deployment type:

  • Cloud

  • On-Premises

On the basis of organization size:

  • Large Enterprise

  • SMEs

On the basis of verticals:

  • Aerospace and Defense

  • Government

  • BFSI

  • IT

  • Healthcare

  • Retail

  • Manufacturing

  • Energy and Utilities

  • Telecommunications

  • Media and Entertainment

  • Others

REGIONAL ANALYSIS:

Over the projected period, Asia Pacific is predicted to develop at the quickest rate, with a CAGR of more than 15%. The high adoption of cloud technologies, the proliferation of IoT devices, and the growing number of data centre constructions are all contributing to the region's growth. Furthermore, because the region's huge working population has a big number of endpoint devices and creates a large volume of data, numerous firms are installing cyber security solutions. Furthermore, rising government and defence expenditure in nations such as China, India, Japan, South Korea, and others to protect themselves from cyber warfare is likely to propel market expansion.

In 2021, North America had the largest market share, followed by Europe. The North American market has grown in recent years thanks to the early availability and acceptance of new technology. Furthermore, the large number of capital and IT markets throughout the world, as well as their diverse enterprises, necessitate efficient endpoint device administration and protection across unfamiliar networks. As a result of these reasons, major corporations and small businesses throughout the area are increasing their expenditure on cyber security solutions, which is likely to drive market growth.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • South Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Cybersecurity Market Report Scope:
Report Attributes Details
Market Size in 2021  US$ 210.47 Bn
Market Size by 2028  US$ 384.08 Bn
CAGR   CAGR of 8.3% From 2022 to 2028
Base Year  2021
Forecast Period  2022-2028
Historical Data  2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Component (Solution and Service)
• by Solution (Identity & Access Management, Infrastructure Security, Governance Risk & Compliance, Unified Vulnerability Management Service Offering, Data Security & Privacy Service Offering, and Others)
• by Deployment Model (Cloud and On-Premise)
• by Enterprise Size (Large Enterprises and SMEs)
• by Industry Vertical (Telecom, Automotive, BFSI, Public Sector, Retail, Healthcare, IT, Energy & Utilities, Manufacturing, and Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles IBM, Cisco, Check Point, FireEye, Trend Micro, Norton LifeLock, Rapid7, Micro Focus, Microsoft, Amazon Web Services, Oracle, Fortinet, Palo Alto Networks, Accenture, McAfee.
Key Drivers • The increasing sophistication of cyber assaults is responsible for the market's rise.
Market Opportunities • Because of its powerful and flexible infrastructure, cloud computing architecture is frequently used.

 


Frequently Asked Questions (FAQ) :


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 18 Impact Analysis

4.2 Impact of the Ukraine-Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Cyber Security Market Segmentation, by Component

8.1 Hardware

8.2 Software

8.3 Services

 

9. Cyber Security Market Segmentation, by Software

9.1 APT

9.2 Threat Intelligence Platform

9.3 SIEM

9.4 Security and Vulnerability Management

9.5 Network Access Control

9.6 Antivirus/Antimalware

9.7 Firewall

9.8Secure Web Gateway

9.8 SOAR

9.9 IAM

9.10Encryption

9.14 Disaster Recovery

9.15 IDS/IPS

9.13 Risk and Compliance Management

9.15 Others

 

10. Cyber Security Market Segmentation, by Security type

10.1 Network security

10.2 Endpoint security

10.3 Application security

10.4 Cloud security

10.5 Others

 

11. Cyber Security Market Segmentation, by Deployment type

11.1 Cloud

11.2 On-Premises

 

12. Cyber Security Market Segmentation, by Organization size

12.1 Large Enterprise

12.2 SMEs

 

13. Cyber Security Market Segmentation, by Verticals

13.1 Aerospace and Defense

13.2 Government

13.3 BFSI

13.4 IT

13.5 Healthcare

13.6 Retail

13.7 Manufacturing

13.8 Energy and Utilities

13.8 Telecommunications

13.9 Media and Entertainment

13.10 Others

 

14. Regional Analysis

14.1 Introduction

14.2 North America

14.2.1 USA

14.2.2  Canada

14.2.3  Mexico

14.3 Europe

14.3.1  Germany

14.3.2  UK

14.3.3  France

14.3.4  Italy

14.3.5  Spain

14.3.6  The Netherlands

14.3.7  Rest of Europe

14.4 Asia-Pacific

14.4.1  Japan

14.4.2  South Korea

14.4.3  China

14.4.4  India

14.4.5  Australia

14.4.6  Rest of Asia-Pacific

14.5 The Middle East & Africa

14.5.1  Israel

14.5.2  UAE

14.5.3  South Africa

14.5.4  Rest

14.6 Latin America

14.6.1  Brazil

14.6.2  Argentina

14.6.3  Rest of Latin America

 

 

15. Company Profiles

15.1 IBM (US)

15.1.1 Financial

15.1.2 Products/ Services Offered

15.1.3 SWOT Analysis

15.1.4 The SNS view

15.2 Cisco (US)

15.3 Check Point (Israel)

15.4 FireEye  (US)

15.5 Trend Micro (Japan)

15.6 NortonLifeLock (US)

15.7 Rapid7  (US)

15.8 Micro Focus (UK)

15.8 Microsoft (US)

15.9 Amazon Web Services (US)

15.10 Oracle (US)

15.14 Fortinet (US)

15.15 Palo Alto Networks (US)

15.13 Accenture (Ireland)

15.15 McAfee (US)

 

16. Competitive Landscape

16.1 Competitive Benchmarking

16.2 Market Share analysis

16.3 Recent Developments

 

17. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

 

The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

Step 5: Final QC/QA Process:

This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.