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Global Cyber Security Market Analysis, Share, Trends, Growth: By Component: Solution, Services; By Deployment: Cloud, On-Premises, Others; By Security Type: Cloud Security, Application Security, Endpoint Security, Data Security, Network Security, Others; By Organisation Size; By End Use; Regional Analysis; Competitive Landscape; 2024-2032
Global Cyber Security Market Size
The global cyber security market reached a value of approximately USD 236.75 billion in 2023. The market is projected to grow at a CAGR of 8.8% between 2024 and 2032, reaching a value of around USD 506.79 billion by 2032.
Cyber Security Market Outlook
- According to GAO, the total number of cybersecurity incidents reported in the United States in 2021 was 2,596,947.
- As per cyber security industry analysis, India registered an average of 7000 complaints per day until May this year.
- As per industry reports, United Kingdom had a strong global reputation for cybersecurity solutions, with exports totalling USD 4.064 billion in 2023.
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Cyber Security Market Growth
Cybersecurity refers to the practice of protecting computer systems, networks, devices, and data from unauthorized access, cyberattacks, damage, or theft. It encompasses a range of measures, technologies, and practices designed to ensure the confidentiality, integrity, and availability of digital information and systems.
The rapid growth of cybersecurity market is driven by interconnected digital ecosystems, evolving cyber threats, regulatory demands, and growing dependence on cloud computing and IoT devices. Addressing these challenges requires innovative cybersecurity strategies, collaboration across sectors, and continuous adaptation to emerging technologies and threat landscapes.
According to the Federal Criminal Police Office, in Austria, the total number of reported cyber-crimes in 2022 reached a new record high of 60,195, marking a 30.4% increase compared to 2021. This significantly supported the cyber security market in the country.
Key Trends and Recent Developments
Zero trust security, increased cyber threats, cloud security, and cybersecurity awareness are the major trends boosting the global cyber security market value.
June 21, 2024
CERT-In and Mastercard India have signed an MoU to collaborate on cybersecurity incident response, capacity building, and sharing cyber threat intelligence specific to the financial sector, along with advanced malware analysis, leveraging their expertise.
June 18, 2024
IMSCO, a non-profit organization, was launched to elevate cyber risk assessment standards in the maritime sector. It certifies security consultants, maintains a professional register, and centralizes validated reports to assess vessel risk profiles.
March 11, 2024
The European Commission has adopted the first EU network code on cybersecurity for the electricity sector. It mandates recurrent risk assessments to identify critical digital processes affecting cross-border electricity flows and prescribe mitigating measures.
January 19, 2024
The United Kingdom and Japan solidified their commitment to advancing cybersecurity through a newly established partnership. The signing of the Memorandum of Cooperation (MOC) marked a pivotal moment in their strategic collaboration in cyber defence.
Zero Trust Security
The shift towards Zero Trust architecture, which assumes every access attempt is a potential threat, is driving investments in identity and access management (IAM) solutions.
Increased Cyber Threats
The increasing frequency and growing sophistication of cyberattacks have become a catalyst for organizations to significantly ramp up their investments in advanced cybersecurity solutions and defence, increasing the cyber security demand.
Cloud Security
With the rapid adoption of cloud computing, there's a growing demand for cloud security solutions to protect data and applications hosted in the cloud.
Cybersecurity Awareness
Greater awareness among businesses and individuals about cybersecurity's crucial significance is stimulating increased investments in a diverse array of security products and services worldwide.
Cyber Security Market Trends
The growing incidence of ransomware attacks, characterized by cybercriminals encrypting data and demanding ransom payments, has driven an increased need for cybersecurity solutions focused on detecting, preventing, and recovering from such malicious activities.
Moreover, advancements in technologies like artificial intelligence (AI) and machine learning (ML) are revolutionizing cybersecurity practices, which will likely impact the cyber security demand forecast. AI and ML algorithms enhance threat detection capabilities, analyse vast amounts of data to identify anomalies, and automate incident response processes, thereby augmenting overall cybersecurity resilience.
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Cyber Security Industry Segmentation
“Global Cyber Security Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Component
- Solution
- Threat Intelligence
- Encryption
- Data Loss Prevention
- Unified Threat Management
- Firewall
- Antivirus/Antimalware
- Intrusion Detection Systems/Intrusion Prevention Systems
- Disaster Recovery
- Distributed Denial of Service Mitigation
- Web Filtering
- Others
- Services
- Professional Services
- Managed Security Services
Market Breakup by Deployment
- Cloud
- On-Premises
- Others
Market Breakup by Security Type
- Cloud Security
- Application Security
- Endpoint Security
- Data Security
- Network Security
- Infrastructure Protection
- Others
Market Breakup by Organisation Size
- Large Enterprises
- Small and Medium Enterprises
- Others
Market Breakup by End Use
- BFSI
- Government and Defence
- Energy and Utilities
- Healthcare
- IT and Telecom
- Manufacturing
- Retail
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Cyber Security Market Share
Solution components boost the cyber security industry revenue by incorporating advanced threat detection technologies such as AI, machine learning, and behavioural analytics
Network security solutions, including firewalls, intrusion detection systems (IDS), and secure web gateways, safeguard organizational networks from unauthorized access, malware infections, and denial-of-service (DoS) attacks, supporting the cyber security demand growth.
Managed security services providers offer outsourced monitoring, management, and response to cybersecurity threats and incidents. This includes continuous monitoring of IT environments, threat detection, incident response, and remediation.
Cloud security contributes to the cyber security market revenue by offering capabilities such as threat detection, incident response, and forensic analysis specifically tailored to cloud environments
CASBs play a crucial role in cloud security by providing visibility, compliance, and data security across multiple cloud platforms. These solutions enable organizations to monitor and control user access, enforce security policies, and detect anomalous activities in real-time, enhancing overall cloud security posture.
Endpoint security solutions encompass a range of capabilities beyond traditional antivirus software. They include endpoint detection and response (EDR), endpoint protection platforms (EPP), application control, device encryption, and vulnerability management.
Healthcare enhances the cyber security market by increasing investment in cybersecurity training and awareness programs for their staff to reduce the risk of human error and insider threats
The healthcare supply chain involves multiple stakeholders, including pharmaceutical companies, manufacturers, and service providers. Ensuring the security of the supply chain from cyber threats is essential to prevent disruptions and protect sensitive information.
Government and defence agencies are responsible for protecting critical national infrastructure, military data, and sensitive information. Cybersecurity is crucial to safeguarding national security against cyber espionage, cyber warfare, and terrorist activities.
Competitive Landscape
The companies are a provider of products including software, networking, security operations, application security, semiconductors, enterprise software, and others.
Cisco Systems, Inc.: Founded in 1984 and is headquartered in San Jose, CA. The company offers various products and services including networking, software, Internet of Things, security, mobility and wireless, and others.
Palo Alto Networks, Inc.: Established in 2005 and based in Santa Clara, California. The company offers various products and services including Network Security Platform, Code to Cloud Platform, and other services.
Fortinet, Inc.: Founded in 2000 and is headquartered in Sunnyvale, CA. The company offers products including secure networking, user and device security, security operations, application security, and FortiGuard Labs threat intelligence.
Broadcom Inc.: Established in 1961 and based in San Jose, California, the company is a global technology leader specializing in designing and supplying semiconductors, enterprise software, and security solutions.
Other global cyber security market key players are Trend Micro Inc., IBM Corporation, Microsoft Corporation, Check Point Software Technologies Ltd., McAfee Corp, CrowdStrike Holdings, Inc., Sophos Ltd., and ESET, spol. s r.o., among others.
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Cyber Security Market Analysis by Region
North America leads the global cybersecurity industry and is expected to continue dominating the market. This dominance is due to the presence of prominent security companies with global and regional headquarters in the United States. Increased spending on security solutions and services by large corporations and small to medium-sized enterprises is the key trend of cyber security market. In 2022, the Canadian Survey of Cyber Security and Cybercrime documented 5,244 cyber threats, impacting businesses across Canada.
The Asia Pacific region is expected to experience rapid growth during the forecast period. Efforts to secure endpoints, networks, and cloud infrastructure are anticipated to drive market expansion. The widespread adoption of smartphones and increased Internet usage are boosting digital services across the region. As the use of cloud and digital services rises, so do security risks and data theft concerns, further fuelling market growth. According to the ITA, the cyber security market in Australia amounted to USD 5 million in 2022.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Deployment |
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| Breakup by Security Type |
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| Breakup by Organisation Size |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Cyber Security Market Report Snapshots
Cyber Security Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Cyber Security Market Analysis
8.1 Key Industry Highlights
8.2 Global Cyber Security Historical Market (2018-2023)
8.3 Global Cyber Security Market Forecast (2024-2032)
8.4 Global Cyber Security Market by Component
8.4.1 Solution
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.1.3 Breakup by Type
8.4.1.3.1 Threat Intelligence
8.4.1.3.1.1 Historical Trend (2018-2023)
8.4.1.3.1.2 Forecast Trend (2024-2032)
8.4.1.3.2 Encryption
8.4.1.3.2.1 Historical Trend (2018-2023)
8.4.1.3.2.2 Forecast Trend (2024-2032)
8.4.1.3.3 Data Loss Prevention
8.4.1.3.3.1 Historical Trend (2018-2023)
8.4.1.3.3.2 Forecast Trend (2024-2032)
8.4.1.3.4 Unified Threat Management
8.4.1.3.4.1 Historical Trend (2018-2023)
8.4.1.3.4.2 Forecast Trend (2024-2032)
8.4.1.3.5 Firewall
8.4.1.3.5.1 Historical Trend (2018-2023)
8.4.1.3.5.2 Forecast Trend (2024-2032)
8.4.1.3.6 Antivirus/Antimalware
8.4.1.3.6.1 Historical Trend (2018-2023)
8.4.1.3.6.2 Forecast Trend (2024-2032)
8.4.1.3.7 Intrusion Detection Systems/Intrusion Prevention Systems
8.4.1.3.7.1 Historical Trend (2018-2023)
8.4.1.3.7.2 Forecast Trend (2024-2032)
8.4.1.3.8 Disaster Recovery
8.4.1.3.8.1 Historical Trend (2018-2023)
8.4.1.3.8.2 Forecast Trend (2024-2032)
8.4.1.3.9 Distributed Denial of Service Mitigation
8.4.1.3.9.1 Historical Trend (2018-2023)
8.4.1.3.9.2 Forecast Trend (2024-2032)
8.4.1.3.10 Web Filtering
8.4.1.3.10.1 Historical Trend (2018-2023)
8.4.1.3.10.2 Forecast Trend (2024-2032)
8.4.1.3.11 Others
8.4.2 Services
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.2.3 Breakup by Type
8.4.2.3.1 Professional Services
8.4.2.3.1.1 Historical Trend (2018-2023)
8.4.2.3.1.2 Forecast Trend (2024-2032)
8.4.2.3.2 Managed Security Services
8.4.2.3.2.1 Historical Trend (2018-2023)
8.4.2.3.2.2 Forecast Trend (2024-2032)
8.5 Global Cyber Security Market by Deployment
8.5.1 Cloud
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 On-Premises
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Others
8.6 Global Cyber Security Market by Security Type
8.6.1 Cloud Security
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Application Security
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Endpoint Security
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Data Security
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Network Security
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Infrastructure Protection
8.6.6.1 Historical Trend (2018-2023)
8.6.6.2 Forecast Trend (2024-2032)
8.6.7 Others
8.7 Global Cyber Security Market by Organisation Size
8.7.1 Large Enterprises
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Small and Medium Enterprises
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Others
8.8 Global Cyber Security Market by End Use
8.8.1 BFSI
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Government and Defense
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Energy and Utilities
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Healthcare
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 IT and Telecom
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
8.8.6 Manufacturing
8.8.6.1 Historical Trend (2018-2023)
8.8.6.2 Forecast Trend (2024-2032)
8.8.7 Retail
8.8.7.1 Historical Trend (2018-2023)
8.8.7.2 Forecast Trend (2024-2032)
8.8.8 Others
8.9 Global Cyber Security Market by Region
8.9.1 North America
8.9.1.1 Historical Trend (2018-2023)
8.9.1.2 Forecast Trend (2024-2032)
8.9.2 Europe
8.9.2.1 Historical Trend (2018-2023)
8.9.2.2 Forecast Trend (2024-2032)
8.9.3 Asia Pacific
8.9.3.1 Historical Trend (2018-2023)
8.9.3.2 Forecast Trend (2024-2032)
8.9.4 Latin America
8.9.4.1 Historical Trend (2018-2023)
8.9.4.2 Forecast Trend (2024-2032)
8.9.5 Middle East and Africa
8.9.5.1 Historical Trend (2018-2023)
8.9.5.2 Forecast Trend (2024-2032)
9 North America Cyber Security Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Cyber Security Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Cyber Security Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Cyber Security Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Cyber Security Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Cisco Systems, Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Palo Alto Networks, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Fortinet, Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Broadcom inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Trend Micro Inc
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 IBM Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Microsoft Corporation
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Check Point Software Technologies Ltd.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 McAfee Corp
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 CrowdStrike Holdings, Inc.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Sophos Ltd.
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 ESET, spol. s r.o.
15.2.12.1 Company Overview
15.2.12.2 Product Portfolio
15.2.12.3 Demographic Reach and Achievements
15.2.12.4 Certifications
15.2.13 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Cyber Security Market: Key Industry Highlights, 2018 and 2032
2. Global Cyber Security Historical Market: Breakup by Component (USD Billion), 2018-2023
3. Global Cyber Security Market Forecast: Breakup by Component (USD Billion), 2024-2032
4. Global Cyber Security Historical Market: Breakup by Deployment (USD Billion), 2018-2023
5. Global Cyber Security Market Forecast: Breakup by Deployment (USD Billion), 2024-2032
6. Global Cyber Security Historical Market: Breakup by Security Type (USD Billion), 2018-2023
7. Global Cyber Security Market Forecast: Breakup by Security Type (USD Billion), 2024-2032
8. Global Cyber Security Historical Market: Breakup by Organisation Size (USD Billion), 2018-2023
9. Global Cyber Security Market Forecast: Breakup by Organisation Size (USD Billion), 2024-2032
10. Global Cyber Security Historical Market: Breakup by End Use (USD Billion), 2018-2023
11. Global Cyber Security Market Forecast: Breakup by End Use (USD Billion), 2024-2032
12. Global Cyber Security Historical Market: Breakup by Region (USD Billion), 2018-2023
13. Global Cyber Security Market Forecast: Breakup by Region (USD Billion), 2024-2032
14. North America Cyber Security Historical Market: Breakup by Country (USD Billion), 2018-2023
15. North America Cyber Security Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Europe Cyber Security Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Europe Cyber Security Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Asia Pacific Cyber Security Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Asia Pacific Cyber Security Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Latin America Cyber Security Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Latin America Cyber Security Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Middle East and Africa Cyber Security Historical Market: Breakup by Country (USD Billion), 2018-2023
23. Middle East and Africa Cyber Security Market Forecast: Breakup by Country (USD Billion), 2024-2032
24. Global Cyber Security Market Structure
Key Questions Answered in the Report
The cyber security market was valued at USD 236.75 billion in 2023.
The market is projected to grow at a CAGR of 8.8% between 2024 and 2032.
The revenue generated from the market is expected to reach USD 506.79 billion in 2032.
The major drivers of the market include rising disposable incomes, and growing cyber-attacks.
The growing demand for advanced cyber protection in both government and private firms and the rising integration of advanced technologies like AI and IoT are expected to be the key trends guiding the growth of the market.
The market is broken down into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The market is categorised according to the component, which includes solution and services.
The deployments for cyber security include cloud and on-premises, among others.
The market is categorised according to the security type, including cloud security, application security, endpoint security, data security, network security, infrastructure protection, and others.
Based on the organisation size, the market is divided into large enterprises, small and medium enterprises, and others.
Based on the end use, the market is divided into BFSI, government and defence, energy and utilities, healthcare, it and telecom, manufacturing, retail, and others.
The market key players are Cisco Systems, Inc., Palo Alto Networks, Inc., Fortinet, Inc., Broadcom inc., Trend Micro Inc, IBM Corporation, Microsoft Corporation, Check Point Software Technologies Ltd., McAfee Corp, CrowdStrike Holdings, Inc., Sophos Ltd., ESET, spol. s r.o., and others.
Analyst Review
The global cyber security market attained a value of USD 236.75 billion in 2023, driven by the growing need for cyber security. Aided by the growth in the frequency and complexity of cyber-attacks, the industry is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 8.80%. The industry is projected to reach more than USD 506.79 billion by 2032.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on its components, the global market for cyber security can be segmented into solutions and services. Solutions can be segmented into threat intelligence, encryption, data loss prevention, unified threat management, firewall, antivirus/antimalware, intrusion detection systems/intrusion prevention systems, disaster recovery, distributed denial of service mitigation, and web filtering, among others. Services can further be divided into professional services and managed security services. By deployment, the industry can be divided into cloud and on-premises, among others. On the basis of security types, the industry can be divided into cloud security, application security, endpoint security, data security, network security, and infrastructure protection, among others.
The organisation sizes can be divided into large enterprises and small and medium enterprises, among others. Cyber security finds end-uses in BFSI, government and defence, energy and utilities, healthcare, IT and telecom, manufacturing, and retail, among others. The major regional markets for cyber security are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with Europe accounting for the largest share of the market. The key players in the above industry include Cisco Systems, Inc., Palo Alto Networks, Inc., Fortinet, Inc., Broadcom inc., Trend Micro Inc, IBM Corporation, Microsoft Corporation, Check Point Software Technologies Ltd., McAfee Corp, CrowdStrike Holdings, Inc., Sophos Ltd., and ESET, spol. s r.o., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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