USD 189.70 Bn growth in Cyber Security Market | Driven by the increasing use of mobile devices | Technavio

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The market is driven by the increasing adoption of mobile devices. Access to the internet has significantly increased with the growth in the adoption of mobile devices such as mobile phones, laptops, and tablets. These devices hold a lot of personal and critical information that can be accessed by unauthorized users in case of the loss of a mobile device. Also, the confidential information accessed by mobile devices is more prone to cyberattacks and hacking. All these factors are necessitating the need for advanced cybersecurity solutions, thereby driving the growth of the market.

As per Technavio, the adoption of IoT will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.

Cyber Security Market: Adoption of IoT

Enterprises across various industries are making significant investments in IoT technologies to ensure better connectivity and enhance productivity. The technology is being integrated with communication systems, devices, and services to improve the overall operational efficiency. The adoption of the technology has increased the interaction between people and machines over a common wireless network, thereby making the organization susceptible to cyber threats. This is forcing organizations implementing the IoT technology to invest heavily in cybersecurity solutions. This trend will have a positive impact on the growth of the market during the forecast period.

"The implementation of firewall as a disruptive deception capability will further accelerate the growth of the market", says an analyst at Technavio.

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Cyber Security Market: Segmentation Analysis

This market research report segments the cyber security market by end-user (government, BFSI, ICT, manufacturing, and others), deployment (on-premises solutions and cloud-based solutions), and geography (North America, Europe, APAC, South America, and MEA).

The demand for cybersecurity solutions will be significant from the government agencies during the forecast period. The segment is driven by the increase in security installations in developed and developing countries and the increased contribution from homeland security and the defense sectors. Similarly, in terms of deployment, the market growth will be significant in the on-premises segment through 2025.

The North American region led the cyber security market in 2021, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American market is expected to register the highest incremental growth due to factors such as increased adoption of cyber security solutions by end-user industries, the shift of conventional IT services to internet-based IT systems, and increased government initiatives for the implementation of cyber security solutions. The US is the key market for cybersecurity in North America.

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Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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Table of Contents:

Executive Summary

Market Landscape

• Market ecosystem
• Market characteristics
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2020
• Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by End-user

• Market segments
• Comparison by End-user
• Government - Market size and forecast 2020-2025
• BFSI - Market size and forecast 2020-2025
• ICT - Market size and forecast 2020-2025
• Manufacturing - Market size and forecast 2020-2025
• Others - Market size and forecast 2020-2025
• Market opportunity by End-user

Market Segmentation by Deployment

• Market segments
• Comparison by Deployment
• On-premises solutions - Market size and forecast 2020-2025
• Cloud-based solutions - Market size and forecast 2020-2025
• Market opportunity by Deployment

Customer landscape

• Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2020-2025
• Europe - Market size and forecast 2020-2025
• APAC - Market size and forecast 2020-2025
• South America - Market size and forecast 2020-2025
• MEA - Market size and forecast 2020-2025
• Key leading countries
• Market opportunity by geography
• Market drivers - Demand led growth
• Market challenges
• Market trends

Vendor Landscape

• Competitive scenario
• Vendor landscape
• Landscape disruption
• Industry risks

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• AO Kaspersky Lab
• Booz Allen Hamilton Holding Corp.
• Broadcom Inc.
• Cisco Systems Inc.
• Fortinet Inc.
• Hewlett Packard Enterprise Co.
• Lockheed Martin Corp.
• McAfee LLC
• The Boeing Co.
• Trend Micro Inc.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio