Cybersecurity is the body of technologies, processes, and practices designed to protect networks, computer programs, and data from attack, damage or unauthorised access. In a computing context, security includes both security & physical security. Malware protection is an important security consideration. Cybersecurity offers controlling physical access to system hardware, and protect against the harm that may be done via network access, malicious data and code injection. Cybersecurity also protects from malpractices by operators whether it is intentional or accidental.

Global Cyber Security Market Segments Size & Growth:

The global cybersecurity market was valued at $142.67 Billion in 2017 and is estimated to reach $290.09 by 2024, at a CAGR of 11.3% during the forecast period 2019-2024. The prominent factors leading the cybersecurity market growth are growing risks such as computer hacking, software privacy, virus deployment, and strict government regulations. The emergence of IoT (Internet of Things) and BYOD (Bring Your Own Device) across verticals, continually increasing cyber-attacks, and rising threat landscape due to third-party application deployment are the other major factors driving the market growth. Limited security budgets and lack of competent security professionals are the significant restraints hampering the market growth during the forecast period. The major challenge facing by the global cyber security market is the use of pirated cybersecurity solutions. Continuous growth in the adoption of cloud-based applications and services and increased use of social media for business functions are creating profitable opportunities for the global cybersecurity market growth.

Global Cyber Security Market Segments Share:

The global cyber security market is segmented by the component, solution, service, security type, deployment mode, organisation size, vertical, and geography. By component, the market is sub-segmented into solution and services. Among these, the services segment shows the significant market growth and solutions segment is estimated to register the highest CAGR due to increases malware attacks and thefts. By service, managed services are estimated to show the fair growth during the forecast period. By security type, the market is segregated into network security, cloud security, application security, and wireless security. Among these, application security is estimated to register the highest CAGR due to the emergence of IoT and BYOD trends and growing concern about security based solutions. Network security is expected to emerge as the most attractive product segment regarding size and is expected to contribute around 75% of the overall product market owing to the significant growth prospects in network security segments IDAM (Identity and Access Management) and SVM (Support Vector Machine).

By deployment mode, the cybersecurity market is segregated into on-premise and cloud-based. Among these, enterprises are migrating to cloud-based, as it is cost-effective and is anticipated to witness highest CAGR during the forecast period. By organisation size, the market is classified into small, medium-sized and large enterprises. Larger enterprises are expected to contribute to approximately 80% of the market whereas small and medium enterprises represent a smaller pool and are expected to demonstrate the highest growth rates during the forecast period.

By vertical, the market is again segregated into aerospace and defence, government, BFSI, IT and Telecom, and others. Defence segment is witnessed to have the highest market share of around 27.27% owing to the concern of data breach of intelligence.

Geographically, North America shows the dominance of the overall cyber security market growth, owing to the awareness of cyber security among small and medium organisations. However, APAC is the fastest growing market with a CAGR of around 15.5%. The primary factors driving the market growth are increasing technological adoption, tremendous opportunities across different sectors, and strict directives for data privacy.

Global Cyber Security Market Trends:

The emerging BYOD trend among organisations has made devices and applications more vulnerable to malware and threats.

Rise in the adoption of artificial intelligence, which is having the capability to spot unusual patterns in large volumes of encrypted data.

Global Cyber Security Market Research Report includes:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.

To have a complete market analysis, industry value chain analysis, Porter's Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried out to understand the market more comprehensively.

Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year

Identifying DROC in the current market and their impact on altering the market dynamics.

Competitive landscape analysis to identify the mergers and acquisitions, which will have a comparative financial analysis with significant competitors.

Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.

The primary market players in the global cyber security market are:

Cisco Systems

IBM Corporation

Trend Micro

Symantec Corporation

Fire Eye Inc.

Sophos Group Plc

Along with these companies, there were many other companies considered/cited in the report while analysing the global cyber security market. These companies hold substantial share-owning to the nature of the industry whereas the rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and stable customer base.