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 cyber
security 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 cyber security industry is expected to witness high
demand for cloud-based applications as government organizations are opting for
the cloud platform for data sharing.
Full Research Report on Global Cyber Security Market
Analysis:
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.
View more reports of
this category by Grand View Research at: http://www.grandviewresearch.com/industry/network-security-software-and-services
Grand View Research
has segmented the Global 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
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia
Pacific
- China
- India
- Japan
- Latin
America
- Brazil
- MEA
View press release of this research report by Grand View
Research:
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
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