Global Cyber Security Market was valued at USD 155.23 billion in 2019 which is expected to reach USD 251.23billion by 2027 at a CAGR 10.5%.
Cyber security is the technology that protects software and systems from cybercrimes such as phishing, spoofing, tamper, and eavesdropping. Cyber security is used for safeguarding computers, networks, data, and programs from unlicensed or spontaneous access.
Increase in demand for cloud based cyber security solutions is the key driving factor which is expected to boost the global cyber security market growth. Also, increase in demand for cyber security solutions in various sectors such as aerospace & defense, Public sector, BFSI, healthcare, retail, energy and utilities, manufacturing, and others will have the positive impact on global cyber security market growth. Furthermore, increase in amount of E-Commerce platform and advent of disruptive technologies which is expected to fuel the global cyber security market growth. Moreover, rise in government initiatives and investments will fuel the growth of cyber security market during this forecast period.
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However, change in cyber security standards, rules and regulations and complexities of devices is the major restraining factor which is expected to hamper the global cyber security market growth.
Market Key Players
Various key players are discussed in this report such as IBM Corporation, F-Secure, Fortinet, Forcepoint, FireEye, F5 Networks, CyberArk, Cisco Systems, Check Point Software Technologies, and Aws.
- Data security and Privacy service offering
- Unified vulnerability management service offering
- Governance risk, & compliance
- Infrastructure security
- Identity and Access Management (IAM)
By Deployment Type
- Cloud Based
By Industry Vertical
- Aerospace & Defense
- Public Sector
- Energy and Utilities
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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