Cybersecurity – CRI Report

Global Cybersecurity Market Analysis and Forecast Report 2030

admin — Tue, 25 Jan 2022 08:30:14 +0000

Global Cybersecurity Market Analysis and Forecast Report 2030

Product overview
Cybersecurity is a technique designed to defend devices, networks, data, and programs from unauthorized access or malicious attacks. Cyberattacks are escalating due to advancements in technology and innovations aiming at procuring, changing, or destroying sensitive and confidential information which has made the cybersecurity process more complex and challenging.

Cybersecurity can be further categorized into application security, network security, information security, operational security, cloud security, etc. each providing effective security to different dimensions of the entire information system of an organization. Cybersecurity safeguards information against theft or loss by encrypting emails, critical data, and files via cryptographic protocols. Multiple layers of protection are spread across computers, devices, programs, and networks obscuring critical information related to health, national security, or financial records from digital spying and cyber-attacks.

Market Highlights
Global Cybersecurity market is expected to project a notable CAGR in 2030.
Global Cybersecurity Market to surpass USD XXXX million by 2030 from USD XXXX million in 2018 at a CAGR of XX% throughout the forecast period, i.e. 2019-30. global Cybersecurity market is expected to observe a growth in the future due to the spread of inaccurate information, rise in implementation of work from home policies by the majority of companies, and an increase in the use of digital infrastructure to continue business operations and prevent cyber-attacks. Maintaining a secured network and confidentiality of sensitive data would bolster cybersecurity technology.

Global Cybersecurity Market: Segments
Security services segment to grow with the highest CAGR of XX.X% during 2019-30
Global Cybersecurity market is segmented by services into Infrastructure Protection, Identity Authentication Access Management, Network Security Protection, and Security Services. The security services segment held the largest market share of XX.X% in the year 2018 and is anticipated to dominate the global market throughout the forecast period due to the rising risks of cyber-attacks.

Banking segment to grow with the highest CAGR of XX.X% during 2019-30
Global Cybersecurity market is segmented by end-user into Government, Banking, Transportation, Healthcare, IT and Telecommunications, and Others. The banking segment held the largest market share of XX.X% in the year 2018 and is expected to maintain this trend throughout the forecast period owing to the rise in digitalization such as internet banking and the need for digital privacy in financial institutions.

Cloud-based segment to grow with the highest CAGR of XX% during 2019-30
Global Cybersecurity market is also segmented by deployment into On-Premises and Cloud-based. The cloud-based segment held the largest market share of XX.X% in the year 2018 and is anticipated to grow with the highest CAGR throughout the forecast period. The cloud-based segment holds low maintenance costs over an on-premises segment.

Market Dynamics
Drivers
Digital technologies
New business models and technologies such as IoT rely upon global digitization. The use of Big data and cloud computing has opened avenues for an online cyber attack as the system becomes more interconnected and complex, thus, demanding the need for a cybersecurity system in the business environment. The use of social media and mobile services are also prone to unauthorized access and malware practices exposing the gaps in the security of applications and networks which allows the incorporation of cybersecurity systems in the business.

Rise in Cyber-attacks
With the growing digitalization immense amount of information is stored and transported, transforming the way consumers communicate, work, and learn which makes it prone to cyber-attacks. According to the past trends, a rise in phishing, ransomware, malware practices has been observed that procured sensitive information such as consumer’s credit card details, login ids, and passwords, financial information, etc. which is a key factor driving the demand and growth for the cybersecurity market to prevent cyber-attacks.

Restraints
Dearth of Skilled Professional
Cybersecurity is highly complex in nature due to recurring advancements and innovations in technology. The talent gap is the key factor restraining the growth of cybersecurity globally, the shortage of skilled professionals in areas such as security management, threat, and vulnerability assessment, and incident and crisis management are hampering the growth of the cybersecurity market.

Covid-19 impact on Global Cybersecurity Market
This pandemic has led to a humanitarian crisis leading to massive shutdowns of offices and other facilities to prevent the spread of the disease. Businesses planning to continue to operate face enormous challenges to embrace remote-working and social distancing through digital infrastructure that serves as a lucrative opportunity for the cybercriminals around the world. Information technology such as cloud systems, data centers, servers used to keep employees connected to the company’s data have become vulnerable to cyberattacks, proliferating demand for advanced cybersecurity technology preventing unauthorized access, phishing, and ransomware attacks. Mounting digitalization has helped businesses to maintain the supply chain for essentials, government to reassure the public by sharing precautionary guidelines, and adopt work-from-home policies to ensure social distancing. The cybersecurity market is anticipated to witness a rise in demand since working in home environments is less secure as the employee is connected through their own home router with limited to no security and all the company firewalls are not in place. Cybersecurity can be ensured using advanced techniques, but education plays the most important role to prevent and keep away from cyberattacks.

Global Organic Market : Key Players
Fortinet
Company Overview
Business Strategy
Key Product Offerings
Financial Performance
Key Performance Indicators
Risk Analysis
Recent Development
Regional Presence
SWOT Analysis
NortonLifeLock Inc
CrowdStrike Holdings, Inc.
FireEye
McAfee, LLC
Cisco Systems, Inc
IBM Corporation
Palo Alto Networks, Inc.
Microsoft
Other Prominent Players
Global Cybersecurity Market: Regions
Global Cybersecurity market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.

Global Cybersecurity market in North America held the largest market share of XX.X% in the year 2018. Increased investments in research and development and security solutions by enterprises and prominent security vendors present in the region have contributed to the growth of cybersecurity. Asia-Pacific region is also anticipated to expand with high CAGR throughout the forecast period due to higher cyber-risks due to the rise in use of smartphones and internet services.

Global CYBERSECURITY market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Global Cybersecurity Market report also contains analysis on:
Cybersecurity Market Segments:

By Service Type
Infrastructure Protection
Identity Authentication Access Management
Network Security Protection
Security Services
By End-Users
Government
Banking
Transportation
Healthcare
IT and Telecommunications
Others
By Deployment
On-Premises
Cloud-based
Cybersecurity Market Dynamics
Cybersecurity Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints

Related Reports: Global Cybersecurity Market (2017-2022)

The post Global Cybersecurity Market Analysis and Forecast Report 2030 first appeared on CRI Report.

The Middle East and Africa Cybersecurity Market (2018-2023)

admin — Fri, 12 Apr 2019 02:39:22 +0000

The Middle East and Africa cybersecurity market is predicted to expand at a CAGR of 11.9%, and is expected to be valued at USD 23.4 Bn by 2023. Robust digitalization in verticals like banking and financial services, the government sector, and oil and gas industries has consequently triggered the risk of cyber-attacks. Individuals, businesses, and the governments of countries across the Middle East and Africa region have fallen prey to numerous cybercrimes, including malware emails and software that hold victims’ data to ransom. Thus, the primary reason behind the cybersecurity market’s exponential growth rate is improved awareness, and the adoption of various cybersecurity services that are needed to safeguard smart grid devices, digitalized businesses, and IoT-based smart cities.
Segmentation based on solutions:
Based on solutions, the identity and access management (IAM) segment is predicted to expand at the highest CAGR (14.5%) during the 2018-2023 period. Across the region, a number of companies are entering into partnerships and engaging in acquisitions to offer IAM solutions to different verticals. The governance, risk and compliance segment held the largest market share in 2017, and is predicted to dominate the market during the forecast period. The governments of countries in the region are passing laws and launching new security strategies to provide integrated protection to the countries’ cyberspace. The strategies involve implementation of cyber smart nations, innovation, cybersecurity, cyber resilience, and national as well as international collaborations on cybersecurity.
Segmentation based on end use industry:
Based on end use industry, the banking and financial services segment is predicted to expand at the highest CAGR during the forecast period, and will reach a value of USD 8.17 Bn by 2023. This is because the banking sector faces almost three times more cyberattacks than any other industry, and the rise of the Middle East and Africa as a hub for finance and banking has made it a major target for cyber criminals. The segment held the largest market share in 2017 and is predicted to dominate the market during the 2018-2023 period.
Country-wise insights:
Countries such as Saudi Arabia, United Arab Emirates (U.A.E.), and South Africa were the most prominent markets for cybersecurity in 2017. Spending on cybersecurity technology has increased considerably in these countries, owing to a recent spurt in the number of complex cyberattacks. Saudi Arabia is increasingly focusing on strengthening its cybersecurity capabilities, by legislating and enforcing cyberspace security by government agencies, especially for critical national infrastructure. The country is projected to witness high investments to strengthen its cybersecurity framework.
Companies covered:
• Symantec Corporation
• Check Point Software Technologies Ltd.
• Palo Alto Networks, Inc.
• Fortinet, Inc.
• FireEye, Inc.
• Trend Micro Inc.
• Proofpoint, Inc.
• KPMG
• IBM Corp.

Customizations available:

The post The Middle East and Africa Cybersecurity Market (2018-2023) first appeared on CRI Report.

Global Cybersecurity Market (2017-2022)

admin — Fri, 12 Apr 2019 02:38:30 +0000

The global cybersecurity market is expected to witness high adoption, owing to rapid digitalization, higher spending on information security, and the advent of 5G. Various industrial and commercial sectors are implementing cybersecurity solutions to safeguard their data. The market is anticipated to expand at a compound annual growth rate (CAGR) of 11.6% during the period of 2017 to 2022.
Solution segment insights:
Governance, risk and compliance solutions occupied a market share of 51% in 2017, as most of the global compliance norms necessitates data security. Government departments are the largest consumers of these solutions as they need to maintain huge volumes of data, including information of the citizens, government strategies and planning, etc.
Identity and access management (IAM) solutions also occupy a large share (26%) of the market. Stolen credentials of employees is the leading facilitator of system hacking cases and data breach incidents, which is expected to cost businesses around USD 2 Tn by 2019, globally. Hence, stronger mechanisms such as multi-factor and biometric authentication are witnessing a rapid adoption. Encryption solutions is gaining grounds due to proliferation of data shared on social media and stored in virtual storage devices. It is expected to expand at a CAGR of 17.9% during the forecast period.
End use industry segment insights:
The financial services industry is the largest consumer of cybersecurity solutions, with a global share of 39% in 2017. With the digitalization of financial services, cyberattacks continue to threaten data privacy and customer loyalty. Advancements in machine learning and analytics allow financial organizations to detect abnormalities in transaction of data, and take necessary corrective actions. Sectors such as government, telecommunications, and healthcare occupy 20%, 16%, and 15% of the market, respectively, in 2017. High growth is expected in the defense sector during the forecast period due to increasing use of Internet of Things (IoT) to connect aircraft, ground vehicles, ships, and weapons systems.
Regional insights:
North America has shown the highest adoption of cybersecurity products, and occupied approximately 37% of the global market in 2017. Across the United States (U.S.), private and public agencies are implementing cybersecurity systems in order to safeguard their stakeholders. Recently, the U.S. Defense Secretary established a task force to recommend ways to curb theft of critical technologies by adversary countries. Europe and Asia-Pacific comprised 25% and 20%, respectively, of the global cybersecurity market. Since the adoption of the European Union’s (EU’s) cybersecurity strategy in 2013, the European Commission has pushed up its activities and efforts to provide better security to Europeans in various online activities. The Latin America market has started to pick up as the Brazilian government signed a contract in 2017 with Microsoft to update its cybersecurity systems in order tackle the repeated cyberattacks coming from WannaCry ransomware.
Companies covered:
1. Symantec Corporation
2. Check Point Technology Ltd.
3. Palo Alto Networks
4. Fortinet
5. FireEye
6. Trend Micro Inc.
7. Proofpoint Corp.
8. KPMG
9. IBM Corp.

Customizations available

The post Global Cybersecurity Market (2017-2022) first appeared on CRI Report.