USD 135.08 billion
Global Cyber Security Market Size, Share, Growth Analysis, By Type(Network security, application security), By Solution(Disaster recovery, anti-malware), By Industry Vertical(Government, defense) - Industry Forecast 2023-2030
Report ID: SQSG50B2001 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 116 | Figures: 76
Global Cyber Security Market Insights
Global Cyber Security Market size was valued at USD 135.08 billion in 2021 and is poised to grow from USD 153.65 billion in 2022 to USD 424.97 billion by 2030, growing at a CAGR of 13.8% in the forecast period (2023-2030).
Cyber security refers to the safeguarding of devices connected to the internet that protect against numerous risks in cyberspace. It involves protecting software, data, and hardware, as well as assisting in the prevention of fraudsters gaining access to devices or networks. Companies need cyber security to protect their data, cash, and intellectual property. Individuals require it for comparable reasons, despite the fact that intellectual property is less of a problem and the risk of losing critical information, such as family photographs, is greater. When it comes to public services or governmental organizations, cyber security assures that the public can continue to rely on them.
Cyber-attacks are a serious concern, particularly to high-value targets including government agencies, defense, and aerospace. Governments all around the world have strict cyber security regulations in place to protect individuals' and corporations' data and privacy. The market is being driven by such governmental rules and regulations.
US Cyber Security Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2023-2030
Global Market Size
Largest Segment
Network Security
Fastest Growth
Network Security
Growth Rate
13.8% CAGR
Global Cyber Security Market2021-2028 ($ Mn)
Country Share for North America Region- 2021 (%)
Global Cyber Security Market Size by Type 2021-2028 ($ Mn)
Global Cyber Security Market Size by Type 2021-2028 (%)
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Global Cyber Security Market Segmental Analysis
Global cyber security market is segmented on the basis of type, solution, industry vertical, and region. Based on the type, the Cyber Security Market is segmented as network security, application security, mobile security, wireless security, cloud security, and others. Based on the solution, the Cyber Security Market is segmented as disaster recovery, anti-malware and anti-virus, mobile device management, firewalls, authentication and authorization, intrusion detection and protection systems (ID/IP systems), network access control, data loss prevention, encryption, DDOS mitigation, security information and event management (SIEM), whitelisting, and other. Based on the industry vertical, the Cyber Security Market is segmented into government, defense, aerospace, banking and financial services industries, travel and transportation, telecommunication, healthcare, retail, manufacturing, and others. Based on region, Cyber Security Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Cyber Security Market Analysis by Type
In 2021, the network security segment held more than a 20% share in the global market. The segmental growth is attributed to increase in number of malware assaults and adoption of the Bring Your Own Device (BYOD) trend. Network security includes firewall, antivirus/antimalware, Unified Threat Management (UTM), NAC, Intrusion Detection System/Intrusion Prevention System (IDS/IPS), Distributed Denial of Service (DDoS) mitigation, Data Loss Prevention (DLP), secure web gateways, vulnerability scanning, sandboxing, and others.
Cyber Security Market Analysis by Solution
In 2021, the firewall segment held more than a 15% share in the global market. The segmental growth is attributed to the increased demand for advanced security for NextGen technologies. Further, new vulnerabilities in SS7, administrative regulations, and advancement of digital transformation in the telecom industry are other driving factors for the segment growth.
Cyber Security Market Analysis by Industry Vertical
In 2021, the BFSI segment held a significant share of more than 17% share in the global market. The segmental growth of the market is attributed to an upsurge in online banking activities, which has encouraged money lenders to more emphasis on their security. Hence, this contributes to the segmental growth of the market during the forecast period.
Global Cyber Security Market By Type, 2021 (%), 2021 (%)
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Global Cyber Security Market Regional Insights
Based on geography, the global cyber security market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2021, the North American region is projected to hold the most substantial share of 35% in the global market. This is attributed to the highest number of cyber security solutions as well as the high number of cyber threats in the region. To meet the needs of customers, major firms such as IBM, Oracle, Fortinet, Microsoft, and Trend Micro, as well as various start-ups in the region, are offering upgraded cybersecurity software solutions and services; which significantly contributes to the market growth.
On the other hand, the Asia-Pacific region is projected to grow at the fastest rate during the forecast period. This is attributed to the wide presence of numerous market incumbents and growing security threats in the region. In addition, rising frequency of malware and ransomware assaults in the region is also a major driver of cybersecurity solutions adoption.
Global Cyber Security MarketBy Geography, 2021 - 2028, 2023-2030
- Largest
- Fastest
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Global Cyber Security Market Dynamics
Cyber Security Market Drivers
- Cybersecurity mesh is a new paradigm about security architectures. It allows decentralized companies to deliver and extend security where it's required the most. It's a decentralized notion that tries to secure users' or computers' identities, and it's one of the most popular tactics right now. Whether on-premises or in the cloud, the goal is to limit access to an organization's network to authorized individuals (or systems). The cybersecurity mesh aids IT professionals in managing protection from each access point while also preventing attackers from obtaining access to the system.
- Rising malware and phishing threats among enterprises are other factors encouraging cyber security adoption. Malware, such as viruses and Trojan horses, has significantly increased its ability to infiltrate, control, and damage entire electronic information networks. Cybercriminals frequently employ malware to gain control of devices or equipment in order to profit. This is done so that the machine may be used to carry out fraudulent transactions or criminal activities right away.
Cyber Security Market Restraint
- Low cybersecurity budget and high installation costs are hampering the market growth. The budget for cybersecurity of emerging startups is insufficient in order to adopt Next-Generation Firewalls (NGFWs) and Advanced Threat Protection (ATP) technologies. Due to their limited financial resources, these businesses lack the necessary IT security infrastructure, resulting in a sluggish adoption of new technologies and corporate security solutions. Small businesses are tasked with managing budget finances for a variety of operational issues and business continuity plans; which limits the growth.
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Global Cyber Security Market Competitive Landscape
Global cyber security market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Top Players in the Global Cyber Security Market
- Check Point Software Technologies Ltd.
- Cisco Systems Inc.
- IBM Security
- Symantec Corporation
- McAfee LLC
- Palo Alto Networks, Inc.
- Fortinet, Inc.
- FireEye, Inc.
- Trend Micro, Inc.
- F-Secure Corporation
- Sophos Ltd.
- Kaspersky Lab
- Rapid7, Inc.
- Proofpoint, Inc.
- Carbon Black, Inc.
- Bitdefender LLC
- Forcepoint LLC
- CyberArk Software Ltd.
- Splunk Inc.
- Imperva, Inc.
Cyber Security Market Recent Developments
- In September 2021, with the collaboration of Mercedes, IBM announced the successful development of the Urban Guard - Stolen Vehicle Help service, which was released in the Mercedes me app to help recover and find stolen cars. To reduce the risk and improve law enforcement's capacity to recover stolen and lost automobiles, the solution focuses on providing security services to digitally connected cars.
- In July 2021, Check Point Software Technologies announced its sponsorship of Deloitte's new industry 4.0 immersive experience center, The Smart Factory at Wichita. Recognizing the importance of cyber security as a core component of any smart factory; the sponsorship will allow Check Point's customers to experience advanced technologies and manufacturing methods in digital transformation while maintaining security.
- In June 2021, Check Point Software Technologies announced the addition of Alibaba Cloud to its unified cloud-native platform support. The integration of Check Point CloudGuard with Alibaba Cloud allows Alibaba customers to benefit from improved posture management and cloud network security.
Global Cyber Security Key Market Trends
- Significant reductions in device costs, combined with emerging business models, have aided in increasing IoT market penetration rates and, as a result, the number of connected devices, such as connected cars, machines, meters, wearables, and consumer electronics.
- Consumer IoT attacks are common, but the possibility of disruption in manufacturing and other industries increases cybersecurity's penetration in the current market dynamics. Furthermore, the arrival of 5G is expected to accelerate the use of connected devices in industries that are already moving toward Industrial Revolution 4.0.
- Through the rise of IoT, Industrial Revolution 4.0 facilitates cellular connectivity throughout the industry. Machine-to-machine connections have also played a role in market growth.
Global Cyber Security Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the market is witnessing rapid growth and is expected to expand at a notable CAGR during the forecast period. Currently, North America is the most prominent region as it captures substantial share of 39% in the global cyber security market.
However, Asia Pacific Excluding Japan is expected to show high growth rate by the end of 2029, owing to increasing adoption of IoT devices, rising cyber-secure IT infrastructure, and increasing awareness regarding security threats.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 135.08 billion |
| Market size value in 2030 | USD 153.65 billion |
| Growth Rate | 13.8% |
| Base year | 2021 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Cyber Security Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Cyber Security Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Cyber Security Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Cyber Security Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Cyber Security Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Cyber Security Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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