Cybersecurity Market Expected to be $248.26 billion by 2023Cybersecurity Market Expected to be $248.26 billion by 2023
Cybersecurity Market Expected to be $248.26 billion by 2023
September 26, 2018
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"
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
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.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
You May Also Like
Hacking Your Digital Identity: How Cybercriminals Can and Will Get Around Your Authentication MethodsOct 26, 2023
Modern Supply Chain Security: Integrated, Interconnected, and Context-DrivenNov 06, 2023
How to Combat the Latest Cloud Security ThreatsNov 06, 2023
Reducing Cyber Risk in Enterprise Email Systems: It's Not Just Spam and PhishingNov 01, 2023
SecOps & DevSecOps in the CloudNov 06, 2023
9 Traits You Need to Succeed as a Cybersecurity Leader
The Ultimate Guide to the CISSP
AI in Cybersecurity: Using artificial intelligence to mitigate emerging security risks
Protecting Critical Infrastructure: The 2021 Energy, Utilities, and Industrials Cyber Threat Landscape Report
Build a Case for a Password Manager