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The Cyber Security Market was worth USD 58.13 billion in the year of 2012 and is expected to reach approximately USD 173.57 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 10.35% during the forecast period. The development of cloud storage has expanded the risk of data breaches and cybercrimes. The organization of Internet of Things (IoT) is opening up surfaces of attacks, utilizing vulnerabilities for network frameworks. This is bringing about the implementation of wireless and endpoint security. Vendors of cyber security are concentrating on susceptibility assessment along with the traditional security highlights. The unification of use and cloud security technologies with systems, for example, network behavior analysis, machine learning, and threat analytics is developing toward proactive cyber security systems. The developing economies, for example, Hong Kong, India, South Korea, and China, have high motivating forces in fortifying their IT foundation. The developing IT and administration part in India has empowered government foundations to underline on launching activities, for example, Digital India Program and e-Tourist Visa conspire for supporting the development. Such a misuse of IT foundation is anticipated to remain a predictable challenge by hacktivists and cybercrime gatherings.
As per the Data Breach Investigation report, more than 30 percent of information breaches come about because of vulnerabilities of web application. Also, the IT expenditure for application security is under 5 percent, giving a wide chance to the development. Endpoint security is anticipated to grow at a significant pace in the following years. Associations are focusing toward the versatile and proactive location and moderation for securing their endpoints. Various new players are giving cutting edge endpoint security products including Ziften Technologies Inc, Hexis Cyber Solutions, and ZCybereason.
Service Outlook and Trend Analysis
Security models are being outsourced by associations to third party suppliers inferable from lacking security experts in-house, hence boosting the development of security benefits over the estimate time frame. Rising demand for cloud-based security administrations to diminish costs and enhance profitability is anticipated to drive the development of security services over the figure time frame. Managed services are anticipated to have a high development attributable to the expanding dangers from regular extremist exercises. The rising government expenditure for the usage of cyber security arrangements in India and China is boosting the development of security services.
Application Outlook and trend Analysis
The BFSI section is anticipated to encounter a solid development in the cyber security market in the upcoming years. The segment is expanding its cyber security expenditure in light of the developing breaches and risks. The expanded utilization of versatility channels for financial transactions and correspondence is expanding the susceptibility for cyberattacks. Banks have actualized a two-factor confirmation for online and mobile banking, which has a high exposure to threats because of the risks like loss of gadget and frail passwords. The defense/government segment is changing progressively as dangers from regular exercises are not any more the main concerns. The assignment of resources for growing investment and research and development of defense programs are foreseen to remain the key patterns in the cyber security industry. For example, the United States President proposed a financial plan of USD 14 billion for 2016 for the digital security endeavors over the administration to shield the private and government systems from cyber assaults.
Regional Outlook and Trend Analysis
In 2015 Asia Pacific represented more than 21 percent share of the global industry. The expanding dependence on the Internet has expanded vulnerabilities, giving chances to programmers and assailants. South Korea, Singapore, and Singapore have expanded the extent of their cyber policy structure and the viability of their execution. Nonetheless, nations, for example, Australia, India, and China are concentrating on bringing together the organization of the cyber policy under the government divisions. Latin America is expected to be a developing locale over the gauge time frame. The area has one of the most elevated penetrations of cell phones prompting vulnerabilities for digital assaults as these gadgets are a simple focus for malware attack, stressing the requirement for the advancement of compelling cybercrime security and policies.
Competitive Insights
The leading players in the market are Trend Micro, Check Point Software Technologies, Symantec Software Solutions Private Limited, Fortinet Inc and Cisco Systems. Security specialist co-ops are boosting the modernity of their administrations by acquiring other security suppliers to expand their offerings. For example, in August, Lighthouse Security Group LLC was acquired IBM by to incorporated Lighthouse's identity and access administration offerings into managed security services of IBM.
The Global Cyber Security market is segmented as follows:
By Component
Solutions Unified threat management IDS/IPS Data Loss Prevention (DLP) Identity Access Management (IAM) Security Information and Event Management (SIEM) Distributed Denial of Service (DDoS) Risk and compliance management Other Solutions
Services Professional services Managed services
By Security Type Enterprise security Cloud security Network security Application security Other Security Types
By Deployment Cloud On-premise
By Organization Small and medium enterprises Large enterprises
By Application IT & Telecom BFSI Retail Healthcare Automotive Defense/government Other Applications
By Region
North America U.S Canada Mexico
Europe Germany France UK Italy Spain Rest of Europe
Asia-Pacific Japan China Australia India South Korea Rest of Asia Pacific
Rest of the World Brazil South Africa Saudi Arabia United Arab Emirates Others
Some of the key questions answered by the report are:
What was the market size in 2012 and forecast from 2013 to 2022? What will be the industry market growth from 2013 to 2022? What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast? What are the major segments leading the market growth and why? Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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