Cyber Security Market - 10.6% CAGR, Application Security Dominates Cyber Security to 2021

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Aug 04, 2016, 04:00 ET

PUNE, India, August 4, 2016 /PRNewswire/ --

The cyber security market is growing at a CAGR of 10.6% to reach $202.36 billion by 2021 pushed by increasing adoption of cyber security solutions due to rising security breaches targeting enterprises while the application security to have the largest market size globally.

Complete report on global cyber security market spread across 259 pages, profiling 10 companies and supported with 98 tables and 55 figures is now available http://www.marketreportshub.com/cyber-security-industry-research-2019-marketsandmarkets.html .

Network security is estimated to have the largest cyber security market size in 2016 because of the need for stringent compliance and regulatory requirements. The growth in the network security is associated with the rise in security breaches targeting enterprise networks, where hackers try to gain access to sensitive data. Furthermore, application security segment with the cyber security market will grow at the highest CAGR during the forecast period, due to the rise in Internet of Things (IoT) and Bring Your Own Device (BYOD) trend.

Cyber security market solutions have been deployed across various industry verticals, including aerospace& defense, government & public utilities, Banking, Financial Services, and Insurance (BFSI), IT & telecom, healthcare, retail, manufacturing, and others. The BFSI vertical is expected to witness the highest CAGR during the cyber security market forecast period because of the increasing adoption of web and mobile applications, which are prone to advanced cyber-attacks.

North America is expected to hold the largest share of the cyber security market in 2016 due to the technological advancements and early adoption of cyber security in the region. The market in APAC is expected to grow at the highest CAGR between 2016 and 2021. The primary driving forces for cyber security market growth are increasing technological adoption and huge opportunities across industry verticals in APAC countries. APAC includes emerging economies, such as India and China, which are rapidly deploying solutions in their cyber security market. This is mainly due to the digitization of businesses and adoption of cloud services by small, medium, and large enterprises in the region.

The report includes the study of key players offering solutions and services in cyber security market; Intel Security (U.S.), Symantec Corporation (U.S.), Hewlett Packard Enterprise (U.S.), IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), Rapid7, Inc. (U.S.), EMC RSA (U.S.), Fire Eye, Inc. (U.S.), Trend Micro, Inc. (Japan), and Sophos Ltd. (U.K.) are some of the companies profiled in the report. The report includes in-depth competitive analysis of these key players in the cyber security market, with their company profiles, SWOT analysis, recent developments, and key market strategies. Order a copy of Cyber Security Market by Solutions (IAM, Encryption, DLP, UTM, Antivirus/Antimalware, Firewall, IDS/IPS, Disaster Recovery), Services, Security Type, Deployment Mode, Organization Size, Vertical & Region - Global Forecast to 2021 research report at http://www.marketreportshub.com/purchase?rpid=1892 .

In the process of determining and verifying, the cyber security market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (55%), Tier 2 (20%) and Tier 3 (25%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level Executives (60%), Director Level (25%) and others (15%) from various key organizations operating in the global cyber security market. The primary interviews were conducted worldwide covering regions such as North America (10%), Europe (20%), Asia-Pacific (40%) and RoW (30%).

On a related note, another research on Automotive Cyber Security Market Global Forecast to 2021 says, increasing demand for secure solutions and legislations has driven the demand for automotive cyber security market solutions. Application security is the fastest growing market. The overall market is estimated to grow with a CAGR of 13.2% from 2016 to 2021 to reach a market size of USD 31.8 million by 2021. The study contains insights provided by various industry experts, ranging from material suppliers to Tier-1 companies and OEMs. Companies like Infineon Technologies AG, Harman International Industries, Inc., Argus Cyber Security, Delphi Automotive PLC, Intel Corporation, Lear Corporation, Trillium, Inc., SBD Automotive & NCC Group, Karamba Security, Escrypt and Arilou Technologies have been profiled in this 116 pages automotive cyber security market research report available athttp://www.marketreportshub.com/automotive-cyber-security-industry-research-marketsandmarkets.html .

Explore more reports on I.T. & Telecommunication market at http://www.marketreportshub.com/categories/i-t-telecommunication .

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