The global cyber security market is
expected to reach USD 205.51 billion by 2024, according to a new report by
Grand View Research, Inc. The dependence of enterprises on information
technology and sensitive nature of digitally stored data has raised the stake
for cyber-attackers with financial gain becoming a primary motive.
Solution providers are
indulging in research and development to develop next-generation security
solutions. For instance, Science Applications International Corporation (SAIC)
has developed an innovative cybersecurity technology that helps government
protect critical data, mitigate risks, and establish a comprehensive defense
against cyber-attacks. There is also a greater emphasis on the intelligence-led
security as conventional security technologies, such as web, content management
and network security, are failing to deliver the tracking of security
incidents.
The cybersecurity
industry is expected to witness high demand for cloud-based applications as
government organizations are opting for the cloud platform for data sharing.
Browse full report by Grand View
Research :
Further key findings from the report suggest:
·
The services segment is anticipated to grow
at a CAGR of over 12% from 2016 to 2024. The growing demand for
Security-as-a-Service (SaaS) and cloud-based solutions is expected to provide
growth opportunities
·
Healthcare industry is expected to reach
over USD 30 billion by 2024. The health insurers are the prime target of the
cyber-attacks, such as Advanced Persistent Threats (APTs) and spear phishing.
The crimes and breaches in this sector are rising as the cost of stolen medical
record is increasing.
·
The North American cybersecurity industry
is anticipated to reach over USD 61 billion by 2024. The increasing cybercrime
costs are enabling the region to focus on building a strong resilience system
for managing cybercrimes.
·
MEA is expected to grow at a CAGR of over
12.5% from 2016 to 2024. The region is adopting digital technologies and
applications at a faster pace, increasing the risk of cyber-attacks. The
expansion of digitization throughout the region has made cybersecurity a
necessity for organizations.
·
The major players in the cybersecurity
market include Fortinet Inc., Checkpoint Software Technologies Ltd, Cisco
Systems Inc., Trend Micro Inc. and Symantec Corporation. The companies in the
cyberspace are focusing on reducing the costs incurred in implementing security
strategies by moving from solution-based products to service offerings The
growing trend of security-as-a-service is increasing the adoption of services
and key players are integrating with major service providers to fulfill
consumer demand.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/network-security-software-and-services
Grand View Research has
segmented the cyber security market on the basis of component, security type,
solutions, services, deployment, organization, application, and region:
Cyber security Component Outlook (Revenue, USD Billion,
2014 - 2024)
·
Solution
·
Services
Cyber security Security Type Outlook (Revenue, USD
Billion, 2014 - 2024)
·
Enterprise security
·
Endpoint security
·
Cloud security
·
Network security
·
Application security
·
Others
Cyber security Solution Outlook (Revenue, USD Billion,
2014 - 2024)
·
UTM
·
IDS/IPS
·
DLP
·
IAM
·
SIEM
·
DDoS
·
Risk and compliance
·
Others
Cyber security Services Outlook (Revenue, USD Billion,
2014 - 2024)
·
Professional services
·
Managed services
Cyber security Deployment Outlook (Revenue, USD Billion,
2014 - 2024)
·
Cloud
·
On-premise
Cyber security Organization Outlook (Revenue, USD
Billion, 2014 - 2024)
·
Small and medium enterprise
·
Large enterprises
Cyber security Application Outlook (Revenue, USD Billion,
2014 - 2024)
·
IT & Telecom
·
Retail
·
BFSI
·
Healthcare
·
Defense/government
·
Automotive
·
Others
Cyber security Regional Outlook (Revenue, USD Billion,
2014 - 2024)
·
North America
o U.S.
o Canada
·
Europe
o Germany
o U.K.
·
Asia Pacific
o China
o India
o Japan
·
Latin America
o Brazil
·
MEA
Access press release by Grand View Research: http://www.grandviewresearch.com/press-release/global-cyber-security-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more information: http://www.grandviewresearch.com
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