Cybersecurity Market by Type (Network Security, Endpoint Security, Application Security, Cloud Security), Solution (Unified Threat Management, Antimalware, Firewall, Disaster Recovery, Web Filtering, DDS Management, Encryption) - Global Forecast to 2027

Cybersecurity Market by Type (Network Security, Endpoint Security, Application Security, Cloud Security), Solution (Unified Threat Management, Antimalware, Firewall, Disaster Recovery, Web Filtering, DDS Management, Encryption)-Global Forecast to 2027

The research report titled, ‘Cybersecurity Market by Type (Network Security, Endpoint Security, Application Security, Cloud Security), Solution (Unified Threat Management, Antimalware, Firewall, Disaster Recovery, Web Filtering, DDS Management, Encryption)-Global Forecast to 2027’, provides an in-depth analysis of the cybersecurity market in five major geographies and emphasizes on the current market trends, market size, market share, recent developments, and forecast till 2029. The global cybersecurity market is projected to reach $300 billion by 2027, at a CAGR of 11.2% during the forecast period of 2019–2027.

The growth of this market is attributed to the increasing demand for network security & privacy, increasing adoption of cloud computing, growing need for digital transformation in the telecommunication industry, increasing frequency of cyberattacks, and growing regulations for information security.

The market is segmented by component (solutions and services), security type (network security, endpoint security, application security, and cloud security), deployment mode (on-premise and cloud-based), organization size (small & medium-sized enterprises and large enterprises), end-use industry (government, retail, manufacturing, aerospace & défense, healthcare, IT & telecom, BFSI, and other end-use industries), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the regional and country-level markets.

Based on component, in 2018, the solutions segment accounted for the largest share of the cybersecurity market. The large market share of this segment is attributed to the growing number of IoT deployments, the increasing focus on solution-centric security capabilities, and the rising vulnerabilities on endpoint devices. In addition, the benefits offered by cybersecurity, such as high performance, reliability, comprehensive vulnerability coverage, efficiency, and security of real-time applications, further augment the growth of this segment.

Based on type, in 2018, the network security segment accounted for the largest share of the cybersecurity market. The large market share of this segment is attributed to the growing demand for web and content filtering, the increasing adoption of cloud computing technologies, and the increasing need to protect connected network infrastructure.

Based on organization size, in 2018, the large enterprises segment accounted for the largest share of the cybersecurity market due to its strong infrastructure and management of cybersecurity platforms by skilled IT personnel. Furthermore, large enterprises focus on desired security channels against cyber threats to retain customers, boost sales, and validate necessary steps to overcome market interruptions, such as the COVID-19 outbreak.

Based on end-use industry, the government segment accounted for the largest share of the cybersecurity market. The large market share of this segment is attributed to the growing concerns regarding a data breach of intelligence, financial activities, research and development activities, and high spending on security solutions.

Based on geography, the cybersecurity market is segmented into five major geographies: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2018, North America accounted for the largest share of the cybersecurity market. The large share of this market is attributed to the increasing technological advancements in North America, developed internet infrastructure, high adoption of technology, and the presence of a majority of the established cybersecurity vendors and start-ups. The high proliferation of IoT devices and cloud-based services is further propelling the growth of the cybersecurity market across North America.

However, Asia-Pacific is projected to register the highest CAGR during the forecast period. The presence of fastgrowing economies, improvement in the business environment and infrastructure, rapid digitization, and the increasing threats of cyberattacks on healthcare, BFSI, and retail industries in the region are expected to drive the growth of the cybersecurity market in Asia-Pacific.

The global cybersecurity market is consolidated and dominated by a few major players, namely, Cisco Systems, Inc. (U.S.), Fortinet, Inc. (U.S.), Palo Alto Networks, Inc. (U.S.), Checkpoint software technologies Ltd (Israel), Juniper Networks, Inc. (U.S.), IBM Corporation (U.S.), F5 Networks, Inc. (U.S.), FireEye, Inc. (U.S.), Splunk Inc. (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), WatchGuard Technologies Inc. (U.S.), Imperva Inc. (U.S.), McAfee LLC (U.S.), Barracuda Networks Inc. (U.S.), Knowb4 Inc. (U.S.), and Masergy Cloud Communication Inc. (U.S.).

Key questions answered in the report

Which are the high-growth market segments in terms of component, type, organization size, deployment mode, end-use industry, and region?
What is the historical market for cybersecurity across the globe?
What are the market forecasts and estimates for the period 2019–2027?
What are the major drivers, restraints, and opportunities in the global cybersecurity market?
Who are the major players in the global cybersecurity market, and what market share do they hold?
Who are the major players in various countries, and what market share do they hold?
How is the competitive landscape?
What are the recent developments in the global cybersecurity market?
What are the different strategies adopted by major players in the global cybersecurity market?
What are the geographical trends in high-growth countries?
Who are the local emerging players in the global cybersecurity market, and how do they compete with the other players?

Scope of the Report:

Cybersecurity Market, by Component

Solutions
Encryption
Data Loss Prevention
Unified Threat Management
Firewall
Antivirus/Antimalware
Intrusion Detection System/Intrusion Prevention System
Security and Vulnerability Management
Disaster Recovery
Web Filtering
Identity & Access Management
Risk & Compliance Management
DDS Managemen
Services
Professional Services
Managed Services

Cybersecurity Market, by Type

Network Security
Endpoint Security
Application Security
Cloud Security

Cybersecurity Market, by Organization Size

Small and Medium Enterprises
Large Enterprises

Cybersecurity Market, by Deployment Mode

On-Premise
Cloud-based

Cybersecurity Market, by End-use Industry

Aerospace & Defence
Government
BFSI
IT & Telecom
Healthcare
Retail
Manufacturing
Other End-use Industries

Cybersecurity Market, by Geography

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

Cybersecurity Market - Report Summary

Report Metrics	Details
Years Considered	2017- 2027
Base Year	2018
Forecast Period	2019-2027
Page Count	218
Units Referenced	Value (USD Million)
Segments/Key Topics	Market by Component, Market by Security Type, Market by Deployment, Market by Industry Size, Market by Industry Vertical, Market by Geography
Regions Covered	North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
Key Companies Mentioned	Cisco Systems, Inc. (U.S.), Fortinet, Inc. (U.S.), Palo Alto Networks, Inc (U.S.), Check Point Software Technologies Ltd (Israel), Juniper Networks, Inc (U.S.), IBM Corporation (U.S.), F5 Networks, Inc. (U.S.), FireEye, Inc. (U.S.), Splunk, Inc. (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), WatchGuard Technologies, Inc. (U.S.), Imperva, Inc. (U.S.), McAfee LLC (U.S.), Barracuda Networks, Inc. (U.S.), Knowb4 Inc. (U.S.), and Masergy Cloud Communications Inc. (U.S.).

FAQs About the Report

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

The global cybersecurity market is projected to reach $300 billion by 2027 at a CAGR of 11.2% during the forecast period.

Which security type segment showcases high growth opportunities for the cybersecurity market players?

In 2018, the network security segment accounted for the largest share of the global cybersecurity market. The large market share of this segment is attributed to the growing demand for web and content filtering and the increasing adoption of cloud computing technologies.

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

The growth of the market is attributed to the factors such as increasing demand for network security and privacy, increasing adoption of cloud computing, adoption of digital transformation in the telecommunication industry, increasing frequency of cyberattacks, and growing regulations for information security. The growing need for cloud-based security solutions among SMEs and the increasing use of AI, ML, and blockchain technologies for cyber defense are expected to create growth opportunities for the players operating in this market.

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

The key players operating in the global cybersecurity market are Cisco Systems, Inc. (U.S.), Fortinet, Inc. (U.S.), Palo Alto Networks, Inc (U.S.), Check Point Software Technologies Ltd (Israel), Juniper Networks, Inc (U.S.), IBM Corporation (U.S.), F5 Networks, Inc. (U.S.), FireEye, Inc. (U.S.), Splunk, Inc. (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), WatchGuard Technologies, Inc. (U.S.), Imperva, Inc. (U.S.), McAfee LLC (U.S.), Barracuda Networks, Inc. (U.S.), Knowb4 Inc. (U.S.), and Masergy Cloud Communications Inc. (U.S.).

Which regions/countries are likely to offer significant growth opportunities for the vendors in this market during the analysis period?

North America dominated the global cybersecurity market in 2018. However, Asia-Pacific region is expected offer significant growth opportunities, owing to rapid digitization in developing countries and considerable investments in cybersecurity solutions."