Cyber Security Market, By Component (Hardware, Software, Services), By Deployment (Cloud-based, On-premises), By Application (IT & Telecom, Retail, BFSI, Healthcare, Defense/Government, Manufacturing, Energy, Others), By Geography (North America, Latin Am

Cyber Security Market, By Component (Hardware, Software, Services), By Deployment (Cloud-based, On-premises), By Application (IT & Telecom, Retail, BFSI, Healthcare, Defense/Government, Manufacturing, Energy, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Cyber security is concerned with safeguarding critical systems, networks, programs, and data from digital attacks and protecting networks, programs, and data from digital attacks, vulnerabilities, and threats. Rising concerns over data security due to a growing number of cyber-attacks are major factors driving the market. Predictive technologies are playing a crucial role in identifying irregular patterns that can potentially lead to a security breach. This is allowing organizations to allocate appropriate security measures and reduce loss of crucial data. Growing digitization across industries has opened up several avenues for hackers, fueling demand for advanced cyber security solutions globally.

Market Dynamics:

The global cyber security market is driven by factors such as the increasing number of data breaches and cyberattacks faced by organizations. It is estimated that a breach occurs every 11 seconds. Data theft is the primary motive behind such attacks. The lack of skilled security workforce and rising complexity of networks are also compelling enterprises to invest heavily in advanced cyber security solutions for threat detection and mitigation. However, high initial investment and concerns over internal data hacking are some factors expected to restrain market growth. Advancements in technologies such as artificial intelligence, machine learning, and IoT provide lucrative opportunities for market players. Integrating such innovative approaches can enhance threat detection capabilities of cyber security solutions. Vendors are leveraging predictive analysis to identify irregular behaviors and anomalies in order to stay ahead of threat actors.

Key features of the study:

• This report provides in-depth analysis of the global cyber security market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global cyber security market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Accenture, AWS, Broadcom, Check Point, Cisco, CrowdStrike, CyberArk, Fortinet, IBM, Microsoft, Oracle, Palo Alto Networks, Proofpoint, Rapid7, Trend Micro.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global cyber security market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global cyber security market.

Detailed Segmentation:

• By Component
• Hardware
• Software
• Services
• By Deployment
• Cloud-based
• On-premises
• By Application
• IT & Telecom
• Retail
• BFSI
• Healthcare
• Defense/Government
• Manufacturing
• Energy
• Others (Education, Media & Entertainment)
• By Regional
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
• Key Players Insights
• Accenture
• AWS
• Broadcom
• Check Point
• Cisco
• CrowdStrike
• CyberArk
• Fortinet
• IBM
• Microsoft
• Oracle
• Palo Alto Networks
• Proofpoint
• Rapid7
• Trend Micro