Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Threat Intelligence

9/25/2018
01:48 PM
Dark Reading
Dark Reading
Products and Releases
50%
50%

Cybersecurity Market Expected to be $248.26 billion by 2023

According to a new market research report "Cybersecurity Market by Solution (IAM, Encryption, UTM, Antivirus/Antimalware, Firewall, IDS/IPS, Disaster Recovery, and DDOS Mitigation), Service, Security Type, Deployment Mode, Organization Size, Industry Vertical, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the Cybersecurity Market is expected to grow from USD 152.71 billion in 2018 to USD 248.26 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.2% during 2018–2023.

The major forces driving the Cybersecurity Market growth are strict data protection directives and rising cyber terrorism. The Cybersecurity Market is growing rapidly because of the rising need for cloud-based cybersecurity solutions among Small and Medium-sized Enterprises (SMEs).

Browse 99 market data Tables and 68 Figures spread through 244 Pages and in-depth TOC on "Cybersecurity Market by Solution (IAM, Encryption, UTM, Antivirus/Antimalware, Firewall, IDS/IPS, Disaster Recovery, and DDOS Mitigation), Service, Security Type, Deployment Mode, Organization Size, Industry Vertical, and Region - Global Forecast to 2023"
https://www.marketsandmarkets.com/Market-Reports/cyber-security-market-505.html

The healthcare industry vertical is expected to grow at the highest CAGR from 2018 to 2023

The Cybersecurity Market is segmented into various industry verticals. Out of these, the healthcare industry vertical is expected to grow at the highest CAGR from 2018 to 2023, as the medical data and digital medical devices used in this industry vertical are prone to advanced threats. The government is expected to have largest market size in 2018, due to the increased adoption of cybersecurity solutions in this industry vertical. The Banking, Financial Services, and Insurance (BFSI); and Information Technology (IT) and telecom industry verticals are also expected to gain traction during the forecast period.

The encryption solutions segment is expected to grow at the highest CAGR from 2018 to 2023

Cybersecurity solutions are used to secure the network infrastructure and the devices connected to it. The Cybersecurity Market is segmented by solution into Identity and Access Management (IAM), risk and compliance management, encryption, Data Loss Prevention (DLP), Unified Threat Management (UTM), firewall, antivirus/antimalware, Intrusion Detection System/Intrusion Prevention System (IDS/IPS), security and vulnerability management, disaster recovery, Distributed Denial of Service (DDoS) mitigation, web filtering, and others (application whitelisting and patch management). The encryption solutions segment is expected to register the highest CAGR in the global Cybersecurity Market during 2018–2023. Encryption solutions offer consistent protection to sensitive data across all critical points in the entire lifecycle. These solutions enable enterprises to hide their critical data from unauthorized bad actors.

North America is estimated to dominate the Cybersecurity Market in 2018

North America is estimated to hold the largest share of the Cybersecurity Market in 2018, due to technological advancements and the early adoption of cybersecurity in the region. The market in Asia Pacific (APAC) is expected to grow at the highest CAGR between 2018 and 2023. The primary forces driving this growth are increasing technology adoption, huge opportunities across industry verticals, and strict directives for data privacy in APAC countries, especially India and China.

The report encompasses the different strategies, such as mergers and acquisitions, partnerships and collaborations, business expansions, and product developments, adopted by the major players to increase their market share. Some of the major technology vendors in the Cybersecurity Market are IBM (US), Symantec (US), Check Point (US), Cisco (US), Imperva (US), CyberArk (Israel), Microsoft (US), Sophos (UK), Rapid 7 (US), F5 Networks (US), FireEye (US), Forcepoint (US), Juniper Networks (US), RSA Security (US), Fortinet (US), F-Secure (Finland), McAfee (US), Micro Focus (UK), Oracle (US), Palo Alto Networks (US), Proofpoint (US), Splunk (US), and Trend Micro (Japan).

Ask for PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=505

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, "Knowledgestore" 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. Shelly Singh
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA: 1-888-600-6441

 

Recommended Reading:

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
News
US Formally Attributes SolarWinds Attack to Russian Intelligence Agency
Jai Vijayan, Contributing Writer,  4/15/2021
News
Dependency Problems Increase for Open Source Components
Robert Lemos, Contributing Writer,  4/14/2021
News
FBI Operation Remotely Removes Web Shells From Exchange Servers
Kelly Sheridan, Staff Editor, Dark Reading,  4/14/2021
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Write a Caption, Win an Amazon Gift Card! Click Here
Latest Comment: Tell him only Kevin Mitnick and the President know the launch codes.
Current Issue
2021 Top Enterprise IT Trends
We've identified the key trends that are poised to impact the IT landscape in 2021. Find out why they're important and how they will affect you today!
Flash Poll
How Enterprises are Developing Secure Applications
How Enterprises are Developing Secure Applications
Recent breaches of third-party apps are driving many organizations to think harder about the security of their off-the-shelf software as they continue to move left in secure software development practices.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2021-31607
PUBLISHED: 2021-04-23
In SaltStack Salt 2016.9 through 3002.6, a command injection vulnerability exists in the snapper module that allows for local privilege escalation on a minion. The attack requires that a file is created with a pathname that is backed up by snapper, and that the master calls the snapper.diff function...
CVE-2021-31597
PUBLISHED: 2021-04-23
The xmlhttprequest-ssl package before 1.6.1 for Node.js disables SSL certificate validation by default, because rejectUnauthorized (when the property exists but is undefined) is considered to be false within the https.request function of Node.js. In other words, no certificate is ever rejected.
CVE-2021-2296
PUBLISHED: 2021-04-22
Vulnerability in the Oracle VM VirtualBox product of Oracle Virtualization (component: Core). The supported version that is affected is Prior to 6.1.20. Difficult to exploit vulnerability allows high privileged attacker with logon to the infrastructure where Oracle VM VirtualBox executes to compromi...
CVE-2021-2297
PUBLISHED: 2021-04-22
Vulnerability in the Oracle VM VirtualBox product of Oracle Virtualization (component: Core). The supported version that is affected is Prior to 6.1.20. Difficult to exploit vulnerability allows high privileged attacker with logon to the infrastructure where Oracle VM VirtualBox executes to compromi...
CVE-2021-2298
PUBLISHED: 2021-04-22
Vulnerability in the MySQL Server product of Oracle MySQL (component: Server: Optimizer). Supported versions that are affected are 8.0.23 and prior. Easily exploitable vulnerability allows low privileged attacker with network access via multiple protocols to compromise MySQL Server. Successful attac...