Cybersecurity

Cybersecurity

Global Cybersecurity Market to Reach US$309.7 Billion by 2030

The global market for Cybersecurity estimated at US$198.9 Billion in the year 2023, is expected to reach US$309.7 Billion by 2030, growing at a CAGR of 6.5% over the analysis period 2023-2030. Cybersecurity Solutions, one of the segments analyzed in the report, is expected to record a 6.2% CAGR and reach US$163.7 Billion by the end of the analysis period. Growth in the Cybersecurity Services segment is estimated at 6.9% CAGR over the analysis period.

The U.S. Market is Estimated at US$53.5 Billion While China is Forecast to Grow at 10.5% CAGR

The Cybersecurity market in the U.S. is estimated at US$53.5 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$70.1 Billion by the year 2030 trailing a CAGR of 10.5% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.4% and 6.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR.

Global Cybersecurity Market - Key Trends and Drivers Summarized

Cybersecurity is increasingly critical as organizations navigate complex digital landscapes, where technological advancements and strategic shifts substantially impact security practices. The integration of generative AI (GenAI) into cybersecurity exemplifies this evolution, serving both as a tool for enhancing security measures and as a potential new vector for threats. This dual role of GenAI is catalyzing a shift in how cybersecurity is approached, requiring a balance between leveraging advanced technology and mitigating associated risks. Meanwhile, issues like insecure employee behaviors, third-party risks, and continuous threat exposure underscore the ongoing challenges organizations face. These factors necessitate robust identity and access management (IAM) frameworks and comprehensive strategies to protect digital assets and ensure operational integrity.

The sophistication of cybersecurity threats is accelerating the adoption of AI-driven security solutions that can preemptively identify and mitigate potential breaches. Technologies such as real-time threat dashboards and cyber insurance are becoming indispensable for enhancing organizational resilience against these evolving threats. Moreover, cybersecurity is becoming a staple topic in C-suite and boardroom discussions, reflecting its critical importance to corporate strategy and risk management. This trend is fostering a more nuanced understanding of cybersecurity’s role in organizational health and is promoting investments in security measures that are closely aligned with broader business objectives. The focus is increasingly on outcome-driven metrics that help executives gauge the effectiveness of cybersecurity investments and make informed decisions that enhance security postures.

As global data privacy regulations evolve, the trend towards adopting sovereign cloud solutions is gaining momentum, aimed at complying with data sovereignty laws and protecting sensitive data from unauthorized access. Simultaneously, Continuous Threat Exposure Management (CTEM) programs are emerging as essential for organizations to proactively assess and mitigate vulnerabilities in both digital and physical assets. Such programs enable companies to prioritize security investments more effectively, leading to substantial reductions in security breaches. Additionally, the growing emphasis on an identity-first security approach highlights the expansion of IAM`s role in contemporary cybersecurity strategies. This approach prioritizes fundamental security measures such as system hardening and rigorous identity verification, which are crucial for maintaining robust cybersecurity frameworks in an era marked by increasingly sophisticated digital threats.

Select Competitors (Total 12 Featured) -

• 9Star Research
• AAC Inc.
• Accenture
• Aiculus Pty Ltd
• AIMultiple
• Alpha Bravo
• AMOEBA Networks
• AppGuard
• Arakt
• Auriga, Inc.

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