Global Cyber Security Market by Component (Solution,Services), Security Type, Organization Size, Deployment Type, Vertical and Region and Global Forecast 2023-2030
Global Cyber Security Market by Component (Solution, Services), Security Type, Organization Size, Deployment Type, Vertical and Region and Global Forecast 2023-2030
Cyber Security Market is valued at US$ XX billion in 2022 and is expected to grow at US$ XX billion at a CAGR of XX% during forecast period 2032.
Due to its impact on both our personal and professional lives, cyber security has emerged as one of the most important issues for businesses and consumers. Since the first cyberattack, known as the ""Morris worm,"" was first reported in 1998, cyberattacks have not only increased in number but also in sophistication, costing businesses and individuals a significant amount of money and harm to their reputations.
The digital age we live in has made cyberattacks increasingly common, and since the Covid-19 pandemic, they have increased in intensity. Companies are expected to lose almost USD 10.5 trillion by 2025, according to estimates. This is roughly three times more than the roughly USD 3 trillion in losses incurred by cyberattacks in 2015. According to a survey released by EMbroker, enterprises worldwide are implementing novel approaches to counteract cyberattacks. It is projected that the aggregate expenditure on cyber security solutions will reach USD 1 trillion between 2017 and 2021.
The global deployment of new technologies by organisations is one of the factors that has contributed to the rising adoption of cyber security measures. One provider of cyber security solutions, Dataprot, projects that there will be over 26 billion IoT devices in use by 2030. Artificial intelligence, 3D printing, edge computing, extended reality, and other emerging technologies are also advancing quickly in terms of enterprise adoption; during the next five years, these technologies are expected to grow by 25–40%.
Due to the fact that these technologies will be available online and that dependable networks will be essential to these IoT providers, their quick ascent will also accelerate the adoption of cyber security. Enterprises offering these developing solutions and services will prioritise discovering and mitigating threats in addition to dependability criteria like malware prevention.
“Services segment, by component, to be largest market from 2023 to 2030.”
The component segment is segmented into solutions and services. Within the component segment, the services will have a higher growth rate as compared to solutions. The reason for this high growth rate can be attributed to need for manage the existing the cyber security infrastructure, network upgradation, maintenance, patch updates and others
“Cloud segment, by deployment type, to be largest market from 2023 to 2030.”
The deployment type is further categorised into cloud and on premise. Within the deployment type, cloud-based security solutions are the front runners in adoption, and this trend will continue for the next five years. Presence of specialist cloud based security providers, on the go solutions, easy of network maintenance are some of the factors that are driving the cloud based adoption.
“Healthcare and life sciences segment, by vertical, to be largest market from 2023 to 2030.”
The report also provided the adoption rate of cyber security solution and services among industry verticals namely banking financial services and insurance, Healthcare and Lifesciences, Government and Défense, consumer goods and retail, information and technology, manufacturing, energy. Among these industries the healthcare and life sciences vertical is expected to have the highest adoption in coming years. Due of the sensitive data in this industry, cybercriminals are finding it increasingly profitable to target Healthcare and life sciences industries. From the standpoint of the end user, healthcare organisations own the complete medical history, personal information, and bank account details of their patients, all of which are extremely valuable to these criminals. Conversely, clinical research and patented technology data hold significant value for cybercriminals, as their acquisition can yield substantial profits on the illicit market.
“North America to be largest region in Cyber Security Market.”
By region, the market is divided into North America, Europe, APAC, and Others. Others are further divided into the Middle East and South America. North America leads the world in adoption, accounting for 35–38% of the global market in this region alone. One of the main things influencing the adoption of cyber security solutions is the regions' enormous presence of suppliers of such solutions, together with increased IT budgets across industries.
The Cybersecurity and Infrastructure Security Agency (CISA) has received over USD 2.5 billion, or 11%, of the most recent USD 5.9 trillion White House budget. This year's total is over $500 million higher than the previous one.
Competitive Landscape
The competitive landscape of the Cyber Security Market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of Cyber Security holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.
The Cyber Security Market is highly competitive, with numerous companies vying for market share.
Major Players:
Fortinet
Palo Alto Networks
Cisco
IBM
Microsoft
Zscaler
Broadcom
Sophos
Proofpoint
Trend Micro
Crowdstrike
OneTrust
Okta
Zscalaer
Rapid7
Checkpoint
RSA
Splunk
Recent Developments:
Microsoft Corporation announced the initiation of its Secure Future Initiative (SFI) in November 2023, signalling the beginning of a new project to investigate the next wave of cybersecurity defence. This program, which is based on three pillars—AI-based cyber defences, advances in basic software engineering, and advocacy for stricter enforcement of international norms to protect civilians from cyber threats—will bring together Microsoft employees from different departments to advance cybersecurity protection.
In May 2023, Proofpoint and the Cybersecurity and Infrastructure Security Agency (CISA) of the Joint Cyber Defence Collaborative (JCDC) formed a strategic alliance. By promoting cooperation between public and business sectors, CISA hopes to improve cyber defence through this joint venture.
One of the leading suppliers of application security, Cider Security, was purchased by Palto Alto in November 2022. The acquisition aligns with the company's strategy, which is to offer security throughout the whole application lifecycle, from development to cloud delivery.
Fortinet introduced Security and Awareness training services for businesses worldwide on April 1, 2022. This new service complements the current trends in cyberattacks, where at least 73% of the threats were caused by a lack of cybersecurity expertise among personnel.
In November 2022, Cisco expanded the capabilities of its network security portfolio, further fortifying it against zero trust. These developments will strengthen the company's worldwide vision to safeguard the whole IT ecosystem for end users.
In March 2022, IBM India Private Limited opened its doors as a new cybersecurity centre in India. The hub provides a cyber protection platform that includes a variety of AI technologies, such as Watson security adviser, to help analysts with threat assessment, malware tracking, threat compilation, and information mitigation. This will assist companies in managing and automating billions of security warnings, in conjunction with IBM's Advanced Threat Disposition Scoring (ATDS).
Palo Alto Networks released a ""zero trust"" medical IoT (internet of things) security suite in December 2022. Every user and device is constantly being verified as part of our cybersecurity policy. The timing of the announcement couldn't have been better: at least one other hospital's servers were breached, allowing patient data to be uploaded and sold on the dark web, and the country's best hospital, the All-India Institute of Medical Sciences (AIIMS), in Delhi, is still recovering from a cyberattack.
- 1 Introduction
- 1.1 Objective Of The Report
- 1.2 Market Definition
- 1.3 Report Scope
- 1.3.1 Report In Scope
- 1.3.2 Out Of Scope
- 1.4 Currency Considered
- 1.5 Stakeholders
- 2 Research Methodology
- 2.1 Data Sources
- 2.1.1 Paid Data Bases
- 2.1.2 Secodnary Data Sources
- 2.2 Market Size Estimation
- 2.2.1 Top-down Approach
- 2.2.2 Bottom-up Approach
- 3 Executive Summary
- 4 Market Forces
- 4.1 Introduction
- 4.2 Drivers
- 4.2.1 Increasing Adoption Of Emerging Technologies Acrss Enterprises
- 4.3 Restraints
- 4.3.1 Inadequate Cyber Professionals
- 4.4 Opportunities
- 4.4.1 Cyber Regulations
- 5 Cyber Security Market, By Component
- 5.1 Introduction
- 5.2 Software
- 5.3 Services
- 5.4 Hardware
- 6 Cyber Security Market, By Software
- 6.1 Introduction
- 6.2 Idetity Access Management
- 6.3 Ddos
- 6.4 Antivirus
- 6.5 Log Management
- 6.6 Threat Prevntion
- 6.7 Siem
- 6.8 Ids/Ips
- 6.9 Disaster Recovery
- 6.10 Firewall
- 6.11 Web Filtering
- 6.12 Data Loss Prevention
- 6.13 Other Software
- 7 Cyber Security Market, By Service
- 7.1 Introduction
- 7.2 Professional Services
- 7.3 Managed Services
- 8 Cyber Security Market, By Security Type
- 8.1 Introduction
- 8.2 Network Secuirty
- 8.3 Cloud Security
- 8.4 Application Security
- 8.5 Endpoint Security
- 9 Cyber Security Market, By Organization Size
- 9.1 Introduction
- 9.2 Small And Medium Enterprises
- 9.3 Large Enterprises
- 10 Cyber Security Market, By Deployment Type
- 10.1 Introduction
- 10.2 Cloud
- 10.3 On Premises
- 11 Cyber Security Market, By Vertical
- 11.1 Introduction
- 11.2 Banking Financial Services And Insurance
- 11.3 Healthcare And Lifesciences
- 11.4 Government And Defense
- 11.5 Consumer Goods And Retail
- 11.6 Information Technology
- 11.7 Manufacturing Control
- 11.8 Energy
- 11.9 Others
- 12 North America Cyber Security Market, By Segment
- 12.1 Introduction
- 12.2 By Software
- 12.2.1 Identity And Access Management
- 12.2.2 Ddos
- 12.2.3 Antivirus
- 12.2.4 Log Management
- 12.2.5 Threat Prevention
- 12.2.6 Siem
- 12.2.7 Ids/Ips
- 12.2.8 Disaster Recovery
- 12.2.9 Firewall
- 12.2.10 Web Filtering
- 12.2.11 Data Loss Prevention
- 12.2.12 Others Of Europe
- 12.3 By Service
- 12.3.1 Identity Professional Services
- 12.3.2 Managed Services
- 12.4 By Security Type
- 12.4.1 Identity Network Security
- 12.4.2 Cloud Security
- 12.4.3 Application Security
- 12.4.4 Endpoint Security
- 12.5 By Organization Size
- 12.5.1 Smes
- 12.5.2 Large Enterprises Security
- 12.6 By Deployement Type
- 12.6.1 Cloud
- 12.6.2 On Premises
- 12.7 By Vertical
- 12.7.1 Banking Financial Services And Insurance
- 12.7.2 Healthcare And Lifesciences
- 12.7.3 Government And Defense
- 12.7.4 Consumer Goods And Retail
- 12.7.5 Information Technology
- 12.7.6 Manufacturing
- 12.7.7 Energy
- 12.7.8 Others
- 12.8 By Country
- 12.8.1 Us
- 12.8.2 Canada
- 13 Europe Cyber Security Market, By Segment
- 13.1 Introduction
- 13.2 By Software
- 13.2.1 Identity And Access Management
- 13.2.2 Ddos
- 13.2.3 Antivirus
- 13.2.4 Log Management
- 13.2.5 Threat Prevention
- 13.2.6 Siem
- 13.2.7 Ids/Ips
- 13.2.8 Disaster Recovery
- 13.2.9 Firewall
- 13.2.10 Web Filtering
- 13.2.11 Data Loss Prevention
- 13.2.13 Others Of Europe
- 13.3 By Service
- 13.3.1 Identity Professional Services
- 13.3.2 Managed Services
- 13.4 By Security Type
- 13.4.1 Identity Network Security
- 13.4.2 Cloud Security
- 13.4.3 Application Security
- 13.4.4 Endpoint Security
- 13.5 By Organization Size
- 13.5.1 Smes
- 13.5.2 Large Enterprises Security
- 13.6 By Deployement Type
- 13.6.1 Cloud
- 13.6.2 On Premises
- 13.7 By Vertical
- 13.7.1 Banking Financial Services And Insurance
- 13.7.2 Healthcare And Lifesciences
- 13.7.3 Government And Defense
- 13.7.4 Consumer Goods And Retail
- 13.7.5 Information Technology
- 13.7.6 Manufacturing
- 13.7.7 Energy
- 13.7.8 Others
- 13.8 By Country
- 13.8.1 Uk
- 13.8.2 Germany
- 13.8.3 France
- 13.8.4 Italy
- 13.8.5 Spain
- 13.8.6 Rest Of Europe
- 14 Asia Pacific Cyber Security Market, By Segment
- 14.1 Introduction
- 14.2 By Software
- 14.2.1 Identity And Access Management
- 14.2.2 Ddos
- 14.2.3 Antivirus
- 14.2.4 Log Management
- 14.2.5 Threat Prevention
- 14.2.6 Siem
- 14.2.7 Ids/Ips
- 14.2.8 Disaster Recovery
- 14.2.9 Firewall
- 14.2.10 Web Filtering
- 14.2.11 Data Loss Prevention
- 14.2.13 Others Of Europe
- 14.3 By Service
- 14.3.1Professional Services
- 14.3.2 Managed Services
- 14.4 By Security Type
- 14.4.1 Identity Network Security
- 14.4.2 Cloud Security
- 14.4.3 Application Security
- 14.4.4 Endpoint Security
- 14.5 By Organization Size
- 14.5.1 Smes
- 14.5.2 Large Enterprises
- 14.6 By Deployement Type
- 14.6.1 Cloud
- 14.6.2 On Premises
- 14.7 By Vertical
- 14.7.1 Banking Financial Services And Insurance
- 14.7.2 Healthcare And Lifesciences
- 14.7.3 Government And Defense
- 14.7.4 Consumer Goods And Retail
- 14.7.5 Information Technology
- 14.7.6 Manufacturing
- 14.7.7 Energy
- 14.7.8 Others
- 14.8 By Country
- 14.8.1 India
- 14.8.2 China
- 14.8.3 Japan
- 14.8.4 Singapore
- 14.8.5 Rest Of Asia Pacific
- 15 Middle East And Africa Cyber Security Market, By Segment
- 15.1 Introduction
- 15.2 By Software
- 15.2.1 Identity And Access Management
- 15.2.2 Ddos
- 15.2.3 Antivirus
- 15.2.4 Log Management
- 15.2.5 Threat Prevention
- 15.2.6 Siem
- 15.2.7 Ids/Ips
- 15.2.8 Disaster Recovery
- 15.2.9 Firewall
- 15.2.10 Web Filtering
- 15.2.11 Data Loss Prevention
- 15.2.13 Others Of Europe
- 15.3 By Service
- 15.3.1Professional Services
- 15.3.2 Managed Services
- 15.4 By Security Type
- 15.4.1 Identity Network Security
- 15.4.2 Cloud Security
- 15.4.3 Application Security
- 15.4.4 Endpoint Security
- 15.5 By Organization Size
- 15.5.1 Smes
- 15.5.2 Large Enterprises
- 15.6 By Deployement Type
- 15.6.1 Cloud
- 15.6.2 On Premises
- 15.7 By Vertical
- 15.7.1 Banking Financial Services And Insurance
- 15.7.2 Healthcare And Lifesciences
- 15.7.3 Government And Defense
- 15.7.4 Consumer Goods And Retail
- 15.7.5 Information Technology
- 15.7.6 Manufacturing
- 15.7.7 Energy
- 15.7.8 Others
- 15.8 By Country
- 15.8.1 Ksa
- 15.8.2 Turkey
- 15.8.3 South Africa
- 15.8.4 Israel
- 15.8.5 Rest Of Mea
- 16 Latin America Cyber Security Market, By Segment
- 16.1 Introduction
- 16.2 By Software
- 16.2.1 Identity And Access Management
- 16.2.2 Ddos
- 16.2.3 Antivirus
- 16.2.4 Log Management
- 16.2.5 Threat Prevention
- 16.2.6 Siem
- 16.2.7 Ids/Ips
- 16.2.8 Disaster Recovery
- 16.2.9 Firewall
- 16.2.10 Web Filtering
- 16.2.11 Data Loss Prevention
- 16.2.13 Others Of Europe
- 16.3 By Service
- 16.3.1 Professional Services
- 16.3.2 Managed Services
- 16.4 By Security Type
- 16.4.1 Identity Network Security
- 16.4.2 Cloud Security
- 16.4.3 Application Security
- 16.4.4 Endpoint Security
- 16.5 By Organization Size
- 16.5.1 Smes
- 16.5.2 Large Enterprises
- 16.6 By Deployement Type
- 16.6.1 Cloud
- 16.6.2 On Premises
- 16.7 By Vertical
- 16.7.1 Banking Financial Services And Insurance
- 16.7.2 Healthcare And Lifesciences
- 16.7.3 Government And Defense
- 16.7.4 Consumer Goods And Retail
- 16.7.5 Information Technology
- 16.7.6 Manufacturing
- 16.7.7 Energy
- 16.7.8 Others
- 16.8 By Country
- 16.8.1 Mexico
- 16.8.2 Brazil
- 16.8.3 Rest Of Mea Latin America
- 17 Company Landscape
- 17.1 Vendor Strategy
- 17.1.1 Partnerships, Agreements, And Collaborations
- 17.1.2 Expanisons And Product Innovations
- 17.1.3 Market Share Analysis
- 17.1.4 Partnerships, Agreements, And Collaborations
- 18 Company Profiles
- 18.1 Fortinet
- 18.1.1 Company Overview
- 18.1.2 Solutions And Services Description
- 18.1.3 Recent Developments
- 18.1.4 Analyst View
- 18.2 Palo Alto Networks
- 18.2.1 Company Overview
- 18.2.2 Solutions And Services Description
- 18.2.3 Recent Developments
- 18.2.4 Analyst View
- 18.3 Cisco
- 18.3.1 Company Overview
- 18.3.2 Solutions And Services Description
- 18.3.3 Recent Developments
- 18.3.4 Analyst View
- 18.4 Ibm
- 18.4.1 Company Overview
- 18.4.2 Solutions And Services Description
- 18.4.3 Recent Developments
- 18.4.4 Analyst View
- 18.5 Microsoft
- 18.5.1 Company Overview
- 18.5.2 Solutions And Services Description
- 18.5.3 Recent Developments
- 18.5.4 Analyst View
- 18.6 Zscaler
- 18.6.1 Company Overview
- 18.6.2 Solutions And Services Description
- 18.6.3 Recent Developments
- 18.6.4 Analyst View
- 18.7 Broadcom
- 18.7.1 Company Overview
- 18.7.2 Solutions And Services Description
- 18.7.3 Recent Developments
- 18.7.4 Analyst View
- 18.8 Sophos
- 18.8.1 Company Overview
- 18.8.2 Solutions And Services Description
- 18.8.3 Recent Developments
- 18.8.4 Analyst View
- 18.9 Proofpoint
- 18.9.1 Company Overview
- 18.9.2 Solutions And Services Description
- 18.9.3 Recent Developments
- 18.9.4 Analyst View
- 18.10 Trend Micro
- 18.9.1 Company Overview
- 18.9.2 Solutions And Services Description
- 18.9.3 Recent Developments
- 18.9.4 Analyst View
- 18.11 Other Major Vendors
- 18.11.1 Crowdstrike
- 18.11.2 Onetrust
- 18.11.3 Okta
- 18.11.4 Zscalar
- 18.11.5 Rapid
- 18.11.6 Checkpoint
- 18.11.7 Rsa
- 18.11.8 Splunk
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