$200B Cyber Security Market Led by Application Security

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Oct 04, 2016, 08:30 ET

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

The growth of global cyber security market is driven by the factors like rise in security breaches targeting enterprises and increase in adoption of cyber security solutions while application security to grow at the highest CAGR from 2016 to 2021 with the overall industry expected to register a CAGR of 10.6% and hit $US 202.36 billion by 2021.

Complete report on global cyber security market spread across 208 pages, profiling 10 companies and supported with 98 tables and 59 figures is now available at http://www.marketreportshub.com/cyber-security-industry-research-2019-marketsandmarkets.html .

Network security is estimated to have the largest 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 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.

The global cyber security market is to grow from USD 122.45 billion in 2016 to USD 202.36 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 10.6%. The cyber security market is growing rapidly because of the increase in adoption of cyber security solutions, due to the increase in security breaches targeting enterprises.

Cyber security 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 forecast period because of the increasing adoption of web and mobile applications, which are prone to advanced cyber-attacks.

APAC includes emerging economies, such as India and China, which are rapidly deploying cyber security solutions. 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 cyber security solutions and services; 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. 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 .

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. In the process of determining and verifying, the global 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 (60%) and 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 report 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 solutions. Application security is the fastest growing market. North America dominates the connected car market on a global level. The overall market is to grow with a CAGR of 13.2% from 2016 to 2021 to reach a market size of USD 31.8 million by 2021. 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 research report at http://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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