Global Cybersecurity Market Size study, by Component (Solutions, Services), by Deployment (On-premises, Cloud), by Security Type (Network Security, Cloud Application Security, End-point Security, Secure Web Gateway, Application Security, Others), by Enter

Global Cybersecurity Market Size study, by Component (Solutions, Services), by Deployment (On-premises, Cloud), by Security Type (Network Security, Cloud Application Security, End-point Security, Secure Web Gateway, Application Security, Others), by Enterprise Size (Small & Medium Enterprises, Large Enterprises), by Industry (BFSI, IT and Telecommunications, Retail, Healthcare, Government, Manufacturing, Travel and Transportation, Energy and Utilities, Others) and Regional Forecasts 2022-2032

Global Cybersecurity Market is valued at approximately USD 172.24 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 14.3% over the forecast period 2024-2032. Cybersecurity involves safeguarding systems, networks, and programs from digital attacks, which typically aim to alter, access, or sabotage sensitive information, extort money, or disrupt normal business operations. The increasing adoption of enterprise security solutions in manufacturing, Banking, Financial Services, and Insurance (BFSI), and healthcare is expected to drive market growth during the forecast period.

The rising number of e-commerce platforms and technological advancements, such as artificial intelligence, cloud, and blockchain, have augmented internet security solutions in a connected network infrastructure. E-commerce companies are increasingly adopting network security solutions to protect their assets from cyber threats. Governments worldwide are investing in internet security solutions to secure their confidential data and information, which further propels market growth. For instance, the U.K. government financed around USD 2.30 billion in 2020 for various network and internet security projects in defense and research. Furthermore, there is a growing emphasis on data privacy, as well as the integration of AI and ML in security, business strategy, and security integration, which offer numerous profitable opportunities in the coming years. The cybersecurity market is expanding rapidly but encounters challenges such as a shortage of professionals and experts in developing security solutions, as well as high implementation and updating costs, particularly for SMEs.

The key regions considered for the Global Cybersecurity Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Global Cybersecurity Market in terms of revenue. The market growth in the region is being attributed to factors including the increasing number of high-section security breaches and the rising adoption of cloud application security solutions. Whereas, the market in Europe is anticipated to grow at the fastest rate over the forecast period fueled by the increasing number of internet security projects and related investments by major companies in the region.

Major market players included in this report are:

Cisco Systems, Inc. (U.S.)

IBM Corporation (U.S.)

Fortinet, Inc. (U.S.)

Proofpoint, Inc. (U.S.)

Microsoft Corporation (U.S.)

Palo Alto Networks, Inc. (U.S.)

Zscaler, Inc. (U.S.)

Broadcom, Inc. (U.S.)

F5 Networks, Inc. (U.S.)

Check Point Software Technologies (Israel)

Sophos Ltd. (U.K.)

Symantec Corporation

McAfee LLC

FireEye, Inc

Trend Micro Incorporated

The detailed segments and sub-segment of the market are explained below:

By Component:

Solutions

Services

By Deployment:

On-premises

Cloud

By Security Type:

Network Security

Cloud Application Security

End-point Security

Secure Web Gateway

Application Security

Others

By Enterprise Size:

Small & Medium Enterprises (SMEs)

Large Enterprises

By Industry:

BFSI

IT and Telecommunications

Retail

Healthcare

Government

Manufacturing

Travel and Transportation

Energy and Utilities

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of Latin America

Middle East & Africa

Saudi Arabia

South Africa

RoMEA

Years considered for the study are as follows:

Historical year – 2022

Base year – 2023

Forecast period – 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.

Annualized revenues and regional level analysis for each market segment.

Detailed analysis of geographical landscape with Country level analysis of major regions.

Competitive landscape with information on major players in the market.

Analysis of key business strategies and recommendations on future market approach.

Analysis of competitive structure of the market.

Demand side and supply side analysis of the market.

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