Cyber Security Training Market Size to Grow USD 6784.9 Million by 2030 at a CAGR of 20.5% | Valuates Reports

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Jan 11, 2024, 10:30 ET

BANGALORE, India, Jan. 11, 2024 /PRNewswire/ -- Cyber Security Training Market is Segmented by Type (Online Training, Offline Training), by Application (SMEs, Large Enterprise): Global Opportunity Analysis and Industry Forecast, 2023-2029. It is Published in Valuates Reports Under the Category of Computer Security.

The Global Cyber Security Training Market was valued at USD 1837.7 Million in 2023 and is anticipated to reach USD 6784.9 Million by 2030, witnessing a CAGR of 20.5% during the forecast period 2024-2030.

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Major Factors Driving the Growth of Cyber Security Training Market

The market for cyber security training is expanding rapidly because of the changing technological landscape, strict regulations, and growing cyber threats. The growing prevalence and complexity of cyberattacks, together with the growing number of employees working remotely, have forced companies to give thorough training programs top priority.

The industry is growing even more as a result of the incorporation of cutting-edge strategies like gamification, tackling the skills gap, and placing a strong emphasis on preventative cybersecurity measures.

The market for cyber security training is expected to increase steadily due to high-profile cyberattacks and the ongoing advancement of technology, which highlight the vital need for ongoing education, workforce development, and adaptability in order to protect against new threats.

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TRENDS INFLUENCING THE GROWTH OF CYBER SECURITY TRAINING MARKET

One of the main factors propelling the market for cyber security training is the ongoing increase in cyber threats and assaults. Organizations are realizing how important it is to strengthen their cybersecurity defenses in response to the growing number of complex cyber threats. Businesses are investing in extensive cyber security training programs to provide their employees with the skills they need to recognize, stop, and respond to threats posed by ransomware, phishing, and data breaches. These programs are vital due to the increasing frequency and complexity of cyberattacks.

Cybersecurity training is becoming increasingly important for organizations due to strict regulatory regulations and compliance standards. Strict regulations are being imposed by governments and industry regulatory agencies to guarantee the security of sensitive data and information. Businesses are spending more money on cyber security training in order to comply with these requirements and lower the risk of fines and legal repercussions from data breaches and security failings. This training helps to guarantee that staff are knowledgeable about compliance procedures. Cyber risks have taken on new dimensions due to the rapid expansion of technology, which includes cloud computing, artificial intelligence (AI), and the Internet of Things (IoT). The attack surface grows as more organizations use these technologies to increase productivity and efficiency. To keep workers up to date on the newest technology developments and potential vulnerabilities, cyber security training is crucial.

Cybersecurity problems have increased due to the worldwide movement towards remote labor, which has been amplified by incidents like the COVID-19 pandemic. Employees' access to company networks from a variety of devices and places has greatly increased the attack surface. To teach remote workers about safe procedures, including utilizing VPNs and multi-factor authentication, and to identify possible hazards related to working remotely, cyber security training becomes essential. High-profile cyberattacks against well-known companies have increased public awareness of the potentially disastrous effects of security lapses. Organizations have been forced to engage in training programs to strengthen their defenses as a result of these instances, which have highlighted the necessity of strong cyber security measures. The harm to an organization's image, monetary losses, and interruption of operations caused by these kinds of assaults are strong incentives for them to give cyber security training importance.

A recurring issue on a worldwide scale is the lack of qualified cybersecurity specialists. There is a significantly greater need for competent specialists than there is talent in the field. Because of this, businesses are spending money on cyber security training to both upskill current employees and close the skills gap by creating a pool of qualified experts who are prepared to take on the always-changing cyber threat scenario. Reactive measures were the main emphasis of cybersecurity efforts in the past. The need for thorough cyber security training has been fueled by the increasing awareness that preventative measures are necessary for efficient defense. To detect and mitigate potential risks before they develop, organizations are investing in training programs that emphasize proactive threat hunting, vulnerability assessment, and risk management.

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CYBER SECURITY TRAINING MARKET SHARE ANALYSIS

Leading providers of cyber security training worldwide are CrowdStrike, Optiv, Fortinet, Terranova Security (Fortra), and FireEye (Trellix). Nearly 54% of global income is accounted for by the top five players. With a market share of around 34%, North America leads the world's largest market. Asia Pacific comes in second with a market share of roughly 33%, followed by Europe with a share of 26%.

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Key Companies:

Kaspersky
Optiv
Fortinet
Infosec
Cofense
SANS Institute
SGS Ltd
Vinsys
Terranova Security (Fortra)
FireEye (TRELLIX)
CrowdStrike
ISystems Security Limited (iSystems)

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