Cybersecurity Market by Security Type (Application Security, Cloud Security), Product Type (Services, Solutions), Deployment Mode, End User - Global Forecast 2024-2030

Cybersecurity Market by Security Type (Application Security, Cloud Security), Product Type (Services, Solutions), Deployment Mode, End User - Global Forecast 2024-2030

The Cybersecurity Market size was estimated at USD 232.95 billion in 2023 and expected to reach USD 255.30 billion in 2024, at a CAGR 10.08% to reach USD 456.36 billion by 2030.

The cybersecurity market encompasses various products, services, and solutions designed to protect digital devices, networks, applications, and sensitive information from unauthorized access or attacks. The increasing consumer reliance on digital and smart devices worldwide has led to numerous growth factors for the cybersecurity market. The improved utilization of internet and blockchain services in banking and financial institutions has enhanced the adoption of cybersecurity solutions. The increasing number of data centers worldwide created a surge in demand for cybersecurity services. However, lack of skilled personnel for the implementation & maintenance of cybersecurity solutions has been a constricting factor for the market. The data privacy issues and regulations related to user safety may be a challenging factor for the adoption of cybersecurity services. Moreover, the integration of AI and ML in cybersecurity services and the utilization of cybersecurity for cloud computing purposes are expected to generate opportunities for market growth in the forecast period.

Regional Insights

The Americas has a highly developed infrastructure for cybersecurity solutions due to the presence of significant market players. Countries, including the United States and Canada, have been actively enhancing its cybersecurity posture through collaborative efforts between government organizations and industry partners. The European Union's approach towards cybersecurity is marked by a strong focus on data privacy as exemplified by regulations like the General Data Protection Regulation (GDPR). The market players are expanding their services in the region, abiding by the strict governmental rules regarding the protection of user data. China, Japan, and India are major countries in the APAC region focused on exerting substantial state control over their digital ecosystem to develop a comprehensive cyberspace strategy for market growth.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Cybersecurity Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Growing consumer reliance on digital and smart devices
Rising utilization of Internet and blockchain services in banking and financial institutions
Increasing number of data centers across the world require cybersecurity services

Market Restraints

Lack of skilled personnel

Market Opportunities

Integration of AI and ML in Cybersecurity Services
Utilization of cybersecurity for cloud computing purposes

Market Challenges

Data privacy issues and regulations

Market Segmentation Analysis

Offering: Significance of Services & Solutions
Security Type: Extensive Emergence of Cloud Security
Industry Vertical: Diverse Applications Across Industries
Organization Size: Implementation of Cybersecurity Solutions in Businesses

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Cybersecurity Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Cybersecurity Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Conceal Announces Expansion into Japan with SentryMark Partnership: An Unparalleled Cybersecurity Collaboration to Stay Ahead of Emerging Threats

Conceal, a in proactive web security, has announced a collaboration with SentryMark, a titan in comprehensive cybersecurity solutions. The collaboration between these two organizations aims to revolutionize how organizations detect, react, and defend against cyber threats.

Cisco to Buy Cybersecurity Firm Splunk for USD 28 Billion

Cisco Systems, Inc. has announced a significant deal to acquire cybersecurity firm Splunk for approximately USD 28 billion. This acquisition marks the largest-ever technology transaction of the year, highlighting Cisco's commitment to strengthening its software business and reducing its reliance on its networking equipment business, which has faced recent challenges.

Honeywell to Acquire SCADAfence, Strengthening its Cybersecurity Software Portfolio

Honeywell International Inc. has announced its agreement to acquire SCADAfence, a provider of OT and IoT cybersecurity solutions for monitoring large-scale networks. This acquisition brings valuable capabilities in asset discovery, threat detection, and security governance, which are crucial for industrial and building management cybersecurity.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Cybersecurity Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Cybersecurity Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, ALSTOM Transport SA, Capgemini SE, Cato Networks Ltd., Check Point Software Technologies Ltd, Cisco Systems, Inc., Cyber Ark Software Ltd, Denso Corporation, FireEye Security Holdings US LLC, Fortinet, Inc., Imperva Inc., International Business Machines Corporation, Juniper Networks, Inc., Palo Alto Networks, Inc., ProofPoint Inc., Rapid7 Inc., and Trend Micro Incorporated.

Market Segmentation & Coverage

This research report categorizes the Cybersecurity Market to forecast the revenues and analyze trends in each of the following sub-markets:

Security Type
Application Security
Cloud Security
Product Type
Services
Consulting Services
Managed Security Services
Professional Services
Solutions
DDoS Mitigation
Email Security
Endpoint Security
Identity & Access Management
Intrusion Detection System
IoT Security
Next-Generation Firewall
Security & Vulnerability Management
Security Information & Event Management
Threat Detection & Prevention
Deployment Mode
Cloud
On-Premise
End User
Aerospace, Defense & Intelligence
Banking, Financial Services & Insurance
Healthcare
IT & Telecommunication
Manufacturing
Public Sector
Public Utility
Retail
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year