Global Consumer Cybersecurity Software Market Size, Share & Trends Analysis Report By Deployment, By Device Type (Smartphone Security Apps, PC/Laptop Security Software, Tablet Security Software, and Others), By Offering, By Regional Outlook and Forecast,

Global Consumer Cybersecurity Software Market Size, Share & Trends Analysis Report By Deployment, By Device Type (Smartphone Security Apps, PC/Laptop Security Software, Tablet Security Software, and Others), By Offering, By Regional Outlook and Forecast, 2023 - 2030

The Global Consumer Cybersecurity Software Market size is expected to reach $18.3 billion by 2030, rising at a market growth of 11.7% CAGR during the forecast period.

The persistent and ever-evolving nature of cyber threats is a driving force behind the growth of network security. Therefore, the network security segment captured $1,627.2 million revenue in the market in 2022. Threats such as malware, phishing attacks, and ransomware often target vulnerabilities in network infrastructure. Consumers recognize the need for robust network security measures to shield their devices and personal information from these threats. Hence, these factors will fuel the demand in the segment.

The major strategies followed by the market participants are Mergers & Acquisition as the key developmental strategy to keep pace with the changing demands of end users. For instance, In November, 2023, Accenture PLC completed the acquisition of Innotec Security. Through this acquisition, Accenture strengthened its position in the market. Additionally, In September, 2023, Cisco Systems, Inc. came into an agreement to acquire Splunk Inc. Through this acquisition, the companies would introduce next-generation AI-enabled security. Additionally, the companies would provide security and resilience to the companies through threat detection and prevention.

Based on the Analysis presented in the KBV Cardinal matrix; Microsoft Corporation is the forerunner in the market. In July, 2021, Microsoft Corporation completed the acquisition of CloudKnox Security, a company that developed the multi-cloud permissions management platform. Through this acquisition, Microsoft Corporation enhanced its comprehensive approach to cloud security. Companies such as Cisco Systems Inc., Accenture PLC, Broadcom, Inc. are some of the key innovators in the market.

Market Growth Factors

The proliferation of cyber threats and the sophistication of cyberattacks are significant drivers for consumer cybersecurity software. The prevalence of ransomware attacks, phishing schemes, and malware variants that target individuals is increasing. As a result, the need for robust cybersecurity solutions to safeguard sensitive information and personal data grows. Hence, these factors will lead to increased demand for these in the upcoming years.

Additionally, as individuals share more personal information online, including names, addresses, and birthdates, the risk of identity theft grows. Cybersecurity software plays a crucial role in protecting digital identities by implementing measures such as identity verification, secure authentication, and monitoring for signs of unauthorized access. Thus, these factors can help in the expansion of the market.

Market Restraining Factors

The ever-changing cybersecurity landscape introduces complexities the average consumer may not readily understand. A wide array of cyber hazards persistently advances in complexity, including ransomware, phishing, malware, and identity theft. However, many consumers remain unaware of safeguarding their digital identities and sensitive information. Therefore, these factors can lead to decreased demand for these in the upcoming years.

By Deployment Analysis

On the basis of deployment, the market is divided into on-premise and cloud. The on-premise segment recorded 57.8% revenue share in the market in 2022. On-premise cybersecurity solutions offer users greater control over their data and security infrastructure. With increasing concerns about data sovereignty and compliance with regulatory requirements, consumers, especially businesses, prefer deploying their cybersecurity software on-premise.

By Device Type Analysis

Based on device type, the market is divided into PC/laptop security software, smartphone security apps, tablet security software, and others. In 2022, the PC/laptop security software segment witnessed 30.6% revenue share in the market. PCs and laptops serve as endpoints in the network, making them vulnerable to various forms of cyber threats.

By Offering Analysis

Based on offering, the market is segmented into antivirus software, network security, identity theft protection, infrastructure protection software, password management software, and others. The antivirus software segment held 31.2% revenue share in the market in 2022. Antivirus software traditionally relies on signature-based detection to identify known malware and viruses.

By Regional Analysis

By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. The North America segment procured 36.9% revenue share in the market in 2022. North America, particularly the United States and Canada, is at the forefront of digital transformation. The region has a highly connected population with widespread internet access and high digital adoption rates.

Market Competition and Attributes

The market is fiercely competitive, with established players like Microsoft Corporation, IBM Corporation, and Cisco Systems Inc. facing increasing pressure from newer entrants and tech giants such as Microsoft and Google. Key factors driving competition include innovation in features like AI-driven threat detection and machine learning algorithms, pricing strategies, user experience, brand reputation, and regulatory compliance.

Recent Strategies Deployed in the Market

• Nov-2023: Broadcom Inc. completed the acquisition of VMware, Inc., an American cloud computing and virtualization technology company. Through this acquisition, the Broadcom Software portfolio was combined with the VMware platform to provide critical infrastructure solutions to customers.
• Nov-2023: Accenture PLC completed the acquisition of Innotec Security, a privately held company specializing in cybersecurity as a-service. Through this acquisition, Accenture strengthened its position in the market. Additionally, the acquisition assisted in extending the regional capabilities and increasing demand for managed security services in Europe.
• Nov-2023: IBM Corporation has reimagined IBM QRadar SIEM product portfolio with extended capabilities. In this expansion, the product has been revamped with a new cloud-native architecture, tailor-made for hybrid cloud scalability, speed, and flexibility. This addition to the QRadar Suite, part of IBM's integrated portfolio for threat detection and response software, is constructed on an open foundation.
• Oct-2023: CyberArk Software Ltd. unveiled enhanced capabilities for secure access to cloud services and modern infrastructure, leveraging risk-based privilege controls. These security controls ensure secure access across all layers of cloud environments without disrupting existing access methods for users, aligning with CyberArk's commitment to robust cloud security.
• Jul-2023: Microsoft Corporation came into a partnership with Blackpoint Holdings, LLC, a provider of cybersecurity threat-hunting technology. Under this partnership, the solutions of Blackpoint were incorporated into the security technologies of Microsoft. Additionally, the partnership assisted in offering solutions for solving painful cybersecurity challenges.

List of Key Companies Profiled

• CyberArk Software Ltd.
• Fortinet, Inc.
• Cisco Systems Inc.
• Juniper Networks, Inc.
• IBM Corporation
• Microsoft Corporation
• Sophos Group PLC (Thoma Bravo)
• Check Point Software Technologies Ltd.
• Accenture PLC
• Broadcom, Inc.

Global Consumer Cybersecurity Software Market Report Segmentation

By Deployment

• On-premise
• Cloud

By Device Type

• Smartphone Security Apps
• PC/Laptop Security Software
• Tablet Security Software
• Others

By Offering

• Antivirus Software
• Network Security
• Identity Theft Protection
• Infrastructure Protection Software
• Password Management Software
• Others

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA