Cybersecurity Services Market by Type, Organization Size, Security Type, Sector (BFSI, Healthcare, Government, IT & Telecommunications, and Other Sectors) - Global Forecast to 2030

Cybersecurity Services Market by Type, Organization Size, Security Type, Sector (BFSI, Healthcare, Government, IT & Telecommunications, and Other Sectors) - Global Forecast to 2030

Cybersecurity Services Market by Type, Organization Size, Security Type, Sector (BFSI, Healthcare, Government, IT & Telecommunications, and Other Sectors)—Global Forecast to 2030

The research report titled, ‘Cybersecurity Services Market by Type, Organization Size, Security Type, Sector (BFSI, Healthcare, Government, IT & Telecommunications, and Other Sectors)—Global Forecast to 2030’, provides an in-depth analysis of cybersecurity services market in five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2030.

The global cybersecurity services market is projected to reach USD 158.4 billion by 2030, at a CAGR of 17.5% during the forecast period of 2023–2030. The growth of the cybersecurity services market is driven by the growing significance of cybersecurity services in the banking sector and rising government initiatives encouraging the adoption of cybersecurity services. In addition, the growing need for cybersecurity services among SMEs, the increasing use of artificial intelligence, machine learning, and blockchain technologies for cyber defense, and the development of smart infrastructure are expected to create market growth opportunities.

The study offers a comprehensive analysis of the global cybersecurity services market by type, organization size, security type, sector, and geography.

The global cybersecurity services market is segmented by type (professional services [integration services, penetration testing services, training, consulting, and advisory services, support & maintenance services, and other professional services], managed services [managed detection & response services, compliance & vulnerability management services, and other managed services]), organization size (large enterprises, small & medium-sized enterprises), security type (network security, cloud security, endpoint security, application security, and other security types), sector (BFSI, healthcare, government, IT & telecommunications, retail & e-commerce, energy & utility, manufacturing, education, and other sectors)). The study also evaluates industry competitors and analyzes the market at regional and country levels.

Based on type, the global cybersecurity services market is segmented into professional services and managed services. In 2023, the professional services segment is expected to account for the larger share of the global cybersecurity services market. The large market share of this segment is attributed to the growing demand for comprehensive identification, assessment, and management of security across enterprise systems, and the rising need for support & maintenance, integration, training, consulting, and advisory, penetration testing services. However, the managed services segment is projected to register the highest CAGR during the forecast period.

Based on organization size, the global cybersecurity services market is segmented into large enterprises and small & medium-sized enterprises (SMEs). In 2023, the large enterprises segment is expected to account for the larger share of the global cybersecurity services market. The large market share of this segment is attributed to the strong IT infrastructure of large enterprises and the availability of skilled IT personnel to manage cybersecurity services platforms. Furthermore, large enterprises have a stable financial backup and can easily procure customized cybersecurity services. However, the small & medium-sized enterprises segment is projected to register the highest CAGR during the forecast period.

Based on security type, the global cybersecurity services market is segmented into cloud security, application security, endpoint security, network security, and other security types. In 2023, the network security segment is expected to account for the largest share of the global cybersecurity services market. The large market share of this segment is attributed to the rising adoption of network services and an increase in the number of malware attacks on enterprise networks. However, the cloud security segment is projected to register the highest CAGR during the forecast period.

Based on geography, the global cybersecurity services market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the global cybersecurity services market. North America’s large market share is attributed to the increase in government initiatives promoting cybersecurity across the region, increasing cyberattacks on IoT devices, the introduction of government laws to improve IoT cybersecurity, and regional market players’ efforts to provide application scanning services for municipal agencies. However, Asia-Pacific is expected to register the highest CAGR during the forecast period.

The key players operating in the global cybersecurity services market are Cisco Systems, Inc. (U.S.), Fortinet, Inc. (U.S.), IBM Corporation (U.S.), Check Point Software Technologies Ltd. (Israel), Microsoft Corporation (U.S.), Palo Alto Networks, Inc. (U.S.), Rapid7, Inc. (U.S.), CrowdStrike Holding, Inc. (U.S.), Accenture plc (Ireland), Secureworks Corp. (U.S.), Trend Micro Incorporated (Japan), CyberDefenses Inc. (U.S.), Nozomi Networks, Inc. (U.S.), Aristi Cybertech Private Limited (India), and Skylark Information Technologies Private Limited (India).

Key questions answered in the report-

Which are the high-growth market segments in terms of the type, organization size, security type and sector?
What is the historical market for cybersecurity services across the globe?
What are the market forecasts and estimates for the period of 2023–2030?
What are the major drivers, restraints, and opportunities in the global cybersecurity services market?
Who are the major players in the global cybersecurity services market and what share of the market do they hold?
Who are the major players in various countries and what share of the market do they hold?
How is the competitive landscape?
What are the recent developments in the global cybersecurity services market?
What are the different strategies adopted by the major players in the global cybersecurity services market?
What are the geographical trends and high-growth countries?
Who are the local emerging players in the global cybersecurity services market and how do they compete with the other players?

Scope of the Report

Cybersecurity Services Market, by Type

Professional Services
Integration Services
Penetration Testing Services
Training, Consulting, and Advisory Services
Support & Maintenance Services
Other Professional Services
Managed Services
Managed Detection & Response Services
Compliance & Vulnerability Management Services
Other Managed Services

Cybersecurity Services Market, by Organization Size

Small & Medium-sized Enterprises
Large Enterprises

Cybersecurity Services Market, by Security Type

Cloud Security
Application Security
Endpoint Security
Network Security
Other Security Types

Cybersecurity Services Market, by Sector

BFSI
Healthcare
Government
IT & Telecommunications
Retail & E-Commerce
Energy & Utility
Manufacturing
Education
Other Sectors

Cybersecurity Services Market, by Geography

North America
U.S.
Canada
Asia-Pacific
China
Japan
South Korea
India
Rest of Asia-Pacific
Europe
U.K.
Germany
France
Spain
Italy
Rest of Europe
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
UAE
Israel
Rest of Middle East & Africa

Cybersecurity Services Market - Report Summary

Report Metrics	Details
Years Considered	2021 - 2030
Base Year	2022
Forecast Period	2023-2030
Page Count	251
Units Referenced	Value (USD Million)
Segments/Key Topics	Market by Type, Market by Organization Size, Market by Security Type, Market by Sector, Market by Geography
Key Companies Mentioned	Cisco Systems, Inc. (U.S.), Fortinet, Inc. (U.S.), IBM Corporation (U.S.), Check Point Software Technologies Ltd. (Israel), Microsoft Corporation (U.S.), Palo Alto Networks, Inc. (U.S.), Rapid7, Inc. (U.S.), CrowdStrike Holding, Inc. (U.S.), Accenture plc (Ireland), Secureworks Corp. (U.S.), Trend Micro Incorporated (Japan), CyberDefenses Inc. (U.S.), Nozomi Networks, Inc. (U.S.), Aristi Cybertech Private Limited (India), and Skylark Information Technologies Private Limited (India).

FAQs About the Report

What is the value of revenue generated from the sale of cybersecurity services across the globe? At what rate is their demand expected to grow for the next 5-7 years?

The global cybersecurity services market is projected to reach $158.4 billion by 2030, at a CAGR of 17.5% during the forecast period.

Which security type segment is expected to showcases high growth opportunities for the cybersecurity services market players?

Based on security type, in 2023, the network security segment is expected to account for the largest share of the global cybersecurity services market due to the rising adoption of network services and an increase in the number of malware attacks on enterprise networks.

Which sector segments of the market are projected to create more traction in the global cybersecurity services market?

The healthcare segment is expected to register the highest CAGR during the forecast period, mainly due to the surge in patient data security & privacy concerns, the rising need to improve patient safety, and the increasing demand for cybersecurity services due to the growing adoption of remote health monitoring.

What are the key factors driving the growth of the cybersecurity services market? What are the major opportunities for existing market players and new entrants in the market?

The growth of the cybersecurity services market is driven by the growing significance of cybersecurity services in the banking sector and rising government initiatives encouraging the adoption of cybersecurity services. In addition, the growing need for cybersecurity services among SMEs, the increasing use of artificial intelligence, machine learning, and blockchain technologies for cyber defense, and the development of smart infrastructure are expected to create market growth opportunities.

Who are the major players operating in the global cybersecurity services market?

Some of the key players in the global cybersecurity services market are Cisco Systems, Inc. (U.S.), Fortinet, Inc. (U.S.), IBM Corporation (U.S.), Check Point Software Technologies Ltd. (Israel), Microsoft Corporation (U.S.), Palo Alto Networks, Inc. (U.S.), Rapid7, Inc. (U.S.), CrowdStrike Holding, Inc. (U.S.), Accenture plc (Ireland), Secureworks Corp. (U.S.), Trend Micro Incorporated (Japan), CyberDefenses Inc. (U.S.), Nozomi Networks, Inc. (U.S.), Aristi Cybertech Private Limited (India), and Skylark Information Technologies Private Limited (India).

Which regions/countries are expected to witness significant demand for cybersecurity services in the coming years?

In 2023, North America is expected to account for the largest share of the global cybersecurity services market. However, countries such as Germany, Japan, China, South Korea, Netherlands, and the U.K. are expected to witness strong growth in demand for cybersecurity services.