Info@NationalCyberSecurity
Info@NationalCyberSecurity

Cybersecurity Market 2023 Witness Widespread Expansion of Industry Growth with leading 2031 – Reedley Exponent | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #ransomware


Cybersecurity Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Cybersecurity Market by region.

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The global cybersecurity market size was US$ 125.1 billion in 2021. The global cybersecurity market is forecast to grow to US$ 299.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 10.1% during the forecast period from 2022 to 2030. 

Factors Influencing the Market

Cybersecurity solutions are essential for any organization to detect, monitor, counter, and report cyber threats. Thus, the growing volume of online data will drive the cybersecurity market forward.

The rising deployment of cloud-based platforms will contribute to the growth of the cybersecurity market. Furthermore, the growing trend of IoT, BYOD, Artificial Intelligence, and Machine Learning will bring ample growth opportunities for the cybersecurity market.

Growing cases of cybercrimes will propel the global cybersecurity market forward throughout the forecast period. Furthermore, a growing number of product launches and partnerships will escalate the cybersecurity market growth. For instance, Check Point Software Technologies announced that the company is funding in enhancing the local geofenced cloud capabilities in India. Furthermore, NASSCOM and AICTE inked a pact with Cisco in February 2021. The partnership aims to introduce a virtual internship program focusing on cybersecurity in India.

The lack of cybersecurity professionals may restrict the growth of the global cybersecurity market during the study period.

COVID-19 Impact Analysis

The COVID-19 pandemic emerged as a beneficial opportunity for the global cybersecurity market growth. Due to the pandemic, the demand for cybersecurity services surged in order to prevent organizations from data theft. In addition, the sudden hike in the volume of online data of significant shift towards online operations has contributed to the growth of the global cybersecurity market.

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Regional Analysis

The Asia-Pacific cybersecurity market is forecast to grow at the fastest rate, owing to the growing cases of cyberthreats and favorable policies by governments. Growing cyberattacks in China have prompted the government to boost its defensive capabilities. In addition, the surging online data and growing deployment of cloud-based platforms will contribute to the growth of the global cybersecurity market during the forecast period.

Competitors in the Market

  • IBM Corporation
  • Microsoft
  • BAE Systems, Inc.
  • Check Point Software Technology Ltd.
  • F5 Networks, EMC Corporation
  • FireEye, Inc.
  • Proofpoint Inc.
  • Sophos PLC
  • Fortinet, Inc.
  • Cisco Systems Inc.
  • Symantec Corporation
  • Juniper Networks
  • Palo Alto Networks, Inc.
  • Qualys Inc
  • Other Prominent Players

Market Segmentation

The global cybersecurity market segmentation focuses on Components, Security, Deployment, End-Use, and Region.

By Components

  • Solution
    • Threat Intelligence
    • Encryption
    • Data Breaching
    • Unified Threat Management
    • Firewall Security
    • IDP/IDS
    • Disaster Recovery
    • Distributed Denial of Service
    • Others
  • Services
    • Design and Integration
    • Risk and Threat Assessments
    • Support and Maintenance
    • Others

By Security Type

  • Network Security
  • Cloud Security
  • Others

By Deployment

By End-Use Industries

  • BFSI
  • Medical
  • Telecom
  • Manufacturing
  • Transportation
  • Others

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By Region

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • Western Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Western Europe
  • Eastern Europe
  • Poland
  • Russia
  • Rest of Eastern Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
  • Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
  • South America
  • Brazil
  • Argentina
  • Rest of South America

What is the goal of the report?

  • The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
  • During the forecast period, the report analyzes the growth rate, market size, and market valuation.
  • The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
  • The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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