The
global cyber security market is expected to reach USD 205.51 billion by 2024,
according to a new report by Grand View Research, Inc. The dependence of
enterprises on information technology and sensitive nature of digitally stored
data has raised the stake for cyber-attackers with financial gain becoming a
primary motive.
 |
| Asia Pacific Cyber security Market By Application, 2014 - 2024 (USD Billion) |
Solution
providers are indulging in research and development to develop next-generation
security solutions. For instance, Science Applications International
Corporation (SAIC) has developed an innovative cybersecurity technology that
helps government protect critical data, mitigate risks, and establish a
comprehensive defense against cyber-attacks. There is also a greater emphasis
on the intelligence-led security as conventional security technologies, such as
web, content management and network security, are failing to deliver the
tracking of security incidents.
The
cybersecurity industry is expected to witness high demand for cloud-based
applications as government organizations are opting for the cloud platform for
data sharing.
In depth research report on Cyber Security Market
Further key findings from the report suggest:
·
The services segment is
anticipated to grow at a CAGR of over 12% from 2016 to 2024. The growing demand
for Security-as-a-Service (SaaS) and cloud-based solutions is expected to
provide growth opportunities
·
Healthcare industry is expected
to reach over USD 30 billion by 2024. The health insurers are the prime target
of the cyber-attacks, such as Advanced Persistent Threats (APTs) and spear
phishing. The crimes and breaches in this sector are rising as the cost of
stolen medical record is increasing.
·
The North American
cybersecurity industry is anticipated to reach over USD 61 billion by 2024. The
increasing cybercrime costs are enabling the region to focus on building a
strong resilience system for managing cybercrimes.
·
MEA is expected to grow at a
CAGR of over 12.5% from 2016 to 2024. The region is adopting digital
technologies and applications at a faster pace, increasing the risk of
cyber-attacks. The expansion of digitization throughout the region has made
cybersecurity a necessity for organizations.
·
The major players in the
cybersecurity market include Fortinet Inc., Checkpoint Software Technologies
Ltd, Cisco Systems Inc., Trend Micro Inc. and Symantec Corporation. The
companies in the cyberspace are focusing on reducing the costs incurred in
implementing security strategies by moving from solution-based products to
service offerings The growing trend of security-as-a-service is increasing the
adoption of services and key players are integrating with major service
providers to fulfill consumer demand.
Grand
View Research has segmented the cyber security market on the basis of
component, security type, solutions, services, deployment, organization,
application, and region:
Cyber security Component Outlook (Revenue, USD
Billion, 2014 - 2024)
·
Solution
·
Services
Cyber security Security Type Outlook (Revenue, USD
Billion, 2014 - 2024)
·
Enterprise security
·
Endpoint security
·
Cloud security
·
Network security
·
Application security
·
Others
Cyber security Solution Outlook (Revenue, USD
Billion, 2014 - 2024)
·
UTM
·
IDS/IPS
·
DLP
·
IAM
·
SIEM
·
DDoS
·
Risk and compliance
·
Others
Cyber security Services Outlook (Revenue, USD
Billion, 2014 - 2024)
·
Professional services
·
Managed services
Cyber security Deployment Outlook (Revenue, USD
Billion, 2014 - 2024)
·
Cloud
·
On-premise
Cyber security Organization Outlook (Revenue, USD
Billion, 2014 - 2024)
·
Small and medium enterprise
·
Large enterprises
Cyber security Application Outlook (Revenue, USD
Billion, 2014 - 2024)
·
IT & Telecom
·
Retail
·
BFSI
·
Healthcare
·
Defense/government
·
Automotive
·
Others
Cyber security Regional Outlook (Revenue, USD
Billion, 2014 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
U.K.
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
·
MEA
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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