$150+ Billion Cybersecurity Market - Global Forecast to 2023 - ResearchAndMarkets.com

September 28, 2018

DUBLIN--(BUSINESS WIRE)--Sep 28, 2018--The “Cybersecurity Market by Solution, Service, Security Type, Deployment Mode, Organization Size, Industry Vertical, and Region - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.

The cybersecurity market size to grow from USD 152.71 billion in 2018 to USD 248.26 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.2% during the forecast period.

The market growth is expected to be driven by the increasing government compliances and regulatory requirements; the emergence of disruptive digital technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), and big data analytics; and the growing sophistication level of cyber-attacks. However, limited security budget among Small and Medium-sized Enterprises (SMEs) and the easy availability of free and pirated cybersecurity solutions may restrain the growth of the cybersecurity market.

The IAM solutions segment is estimated to hold the largest market share in 2018. IAM solutions play a critical role in managing enterprises’ electronic and digital identities. These solutions help businesses improve their security posture by offering centralized visibility and control of users’ access. IAM solutions have registered tremendous adoption in recent years, as they can be quickly and cost-effectively integrated with IAM policies across on-premises and cloud environments.

The network security segment is expected to hold the largest market size during the forecast period, and this growth can be attributed to the rising number of network security breaches wherein hackers try to illegally gain access to sensitive data. As vulnerabilities have become more complex and sophisticated, the demand for network security products is expected to increase for countering threats.

North America is estimated to hold the largest market size and dominate the global cybersecurity market in 2018, due to the presence of a large number of cybersecurity vendors. Increasing information security challenges, due to network complexities, along with the need to meet the strict compliance regulations and enhance employees’ productivity, are pushing organizations in North America to adopt cybersecurity solutions.

APAC is expected to offer significant growth opportunities to vendors in the cybersecurity market, as countries in this region are investing heavily in deploying cybersecurity and compliance management solutions. APAC offers potential growth opportunities due to the rising demand for cybersecurity solutions across SMEs, and the growth in mobile and web-based applications for business-critical operations.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Cybersecurity Market, By Component

7 Market By Solution

8 Cybersecurity Market, By Service

9 Market By Security Type

10 Market By Deployment Mode

11 Market By Organization Size

12 Cybersecurity Market, By Industry Vertical

13 Cybersecurity Market, By Region

14 Competitive Landscape

15 Company Profiles

IBM Symantec FireEye Check Point Cisco Trend Micro Sophos Rapid7 McAfee Micro Focus Microsoft Imperva Splunk F5 Networks Proofpoint RSA Security AWS Juniper Networks Oracle Fortinet Palo Alto Networks CyberArk Forcepoint F-Secure Qualys

For more information about this report visit https://www.researchandmarkets.com/research/753sqn/150_billion?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20180928005501/en/

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SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 09/28/2018 01:14 PM/DISC: 09/28/2018 01:14 PM


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