Cyber Security Market worth $266.2 billion USD by 2027 - Exclusive Report by MarketsandMarkets™

News provided by

Aug 29, 2022, 10:30 ET

CHICAGO, Aug. 29, 2022 /PRNewswire/ -- Cyber Security Market size is expected to grow from an estimated value of USD 173.5 billion in 2022 to 266.2 billion USD by 2027, at a Compound Annual Growth Rate (CAGR) of 8.9% from 2022 to 2027, according to a new report by MarketsandMarkets™. Some factors driving the Cyber Security Market growth include increment in target-based cyberattacks that causes operational disruptions, Cybersecurity Mesh Architecture (CSMA) approaches becoming more popular, and the rising demand for cyber-savvy boards.

Browse in-depth TOC on "Cyber Security Market"

562 - Tables
58 - Figures
494 - Pages

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=505

By deployment mode, the cloud segment is projected to grow with a higher CAGR during the forecast period

The Cyber Security Market's fastest growing subsegment is cloud deployment. Organizations may save money by using cloud-based cyber security solutions since they don't need to invest in expensive hardware, software, storage, or technical staff. They give businesses more IT security, speed, and scalability. Through SaaS-based security services, cloud-based systems provide a single approach to protecting company applications. These platforms are useful for businesses with limited funds for security investments. As this delivery method satisfies IT security requirements, demand for cloud-based cyber security solutions is rising quickly. Large corporations and SMEs are switching from conventional on-premises cyber security solutions to cloud-based ones as more cloud-deployed applications. As cloud cyber security solutions are simple to maintain and update, the cloud deployment mode is expanding. Additionally, using cloud-based security solutions may free up resources for organizations to concentrate on their core operational functions rather than continually investing in capital infrastructure for IT security. Therefore, the cloud segment has the highest CAGR during the forecasted period.

By security type, the application security segment to hold a larger market size during the forecast period

One of the elements that are anticipated to influence the market growth of the application security sector is the rising number of mobile devices. With the rise in mobile devices, the need to protect apps has grown significantly in importance for enterprises as the use of mobile applications has increased. Attackers frequently target business-sensitive apps because they include data about important organizational resources and procedures. Many firms prioritize network security above application security, which leaves them vulnerable to attacks and creates a security gap. Mobile application security guarantees business process visibility and transparency, as well as the confidentiality of data, moved across mobile applications. Online application security includes identifying the complete perimeter of a web application, scanning it for vulnerabilities, and protecting it against attacks like SQL injections, cross-site scripting, DoS attacks, and other critical suspicious behaviours. With an increment in advanced cyberattacks on APIs, organizations worldwide adopt application security solutions, thereby driving market growth.

Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=505

By region, Asia Pacific to grow at a significant CAGR during the forecast period

Asia Pacific countries include the economies of China, India, Japan, Malaysia, Singapore, among others. Due to the region's expanding threat landscape, there are more expenditures being made on cyber security solutions. Security and fraud issues have become more prevalent in the Asia Pacific because of the growth of AI, IoT, and big data. E-commerce, finance, and other online services are supported by the region's broad internet use, putting it vulnerable to cyberattacks. Particularly in regions like China, Japan, and Indonesia, local companies and startups have emerged as significant participants, battling with US multinational corporations. The adoption of cyber security solutions has been motivated by the fact that the SMEs in the area are experiencing cyberattacks, including 74% of SMEs in India and New Zealand, 33% in Indonesia and South Korea, and 37% in Japan. To safeguard their extremely sensitive data, organizations are increasingly using cybersecurity solutions. Additionally, the cyber security industry is seeing rapid development opportunities in the area because of efficient government laws and technology improvements. Thus, the Asia Pacific region is supposed to grow at the highest CAGR in the forecasted period.

Key Players

Major vendors in the global Cyber Security Market include IBM (US), Cisco (US), Check Point (Israel), Trellix (US), Trend Micro (Japan), NortonLifeLock (US), Rapid7 (US), Micro Focus (UK), Microsoft (US), Amazon Web Services (AWS) (US), Oracle (US), Fortinet (US), Palo Alto Networks (US), Accenture (Ireland), CyberArk (US), SentinelOne (US), Qualys (US), F-Secure (Finland), F5 (US), DataVisor (US), RevBits (US), WiJungle (India), BluVector (US), Aristi Labs (India), Imperva (US), Securden (US), Forcepoint (US), Sophos (UK), RSA Security (US), Proofpoint (US), Juniper Networks (US), Splunk (US), SonicWall (US), Algosec (US), Zscaler (US), Cynet (Israel), and Nozomi Networks (US).

Browse Adjacent Markets: Information Security Market Research Reports & Consulting

Related Reports

Advanced Persistent Threat (APT) Protection Market by Offering (Solutions (Sandboxing, Endpoint Protection, SIEM, IDS/IPS, and Next-generation Firewall) and Services), Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2025

Identity and Access Management Market by Component (Solutions, Services), Solution (Data Directory, Identity Lifecycle Management), Deployment Mode, Organization Size, Vertical and Region - Global Forecast to 2027

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/cyber-security-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/cyber-security.asp