The global cyber security market is anticipated to grow at a CAGR of 11.1% during the forecast period. The major factor driving the growth of the global cyber security market during the forecast period is the increasing cases of security breaches due to cloud misconfigurations and the increasing adoption of cloud-based solutions across the globe. According to CheckPoint report 2020, there was a threat of 68% configuration error in the cloud platform which was followed by 58% of unauthorized cloud access and 52% unsecured interfaces as well as 50% account theft. Furthermore, as per the NETSCOUT Threat Intelligence report, in 2020, DDoS attacks became more prevalent with 4.83 million attacks in the first half of the year.
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Another factor propelling the growth of the cybersecurity market is the rising inclination of major market players towards the adoption of various strategic initiatives such as mergers and acquisitions, partnerships, geographical expansion, and collaborations to stay competitive in the market. The major companies serving the global cyber security market include Cisco Systems Inc., IBM Corp., CheckPoint Inc., Trend Micro, and Microsoft Corp. among others. For instance, in December 2020, IBM Security announced new technology initiatives leveraging Amazon Web Services (AWS) to help clients simplify and extend their security visibility across AWS and hybrid cloud environments. The projects include integrations with AWS security services, quick start deployment for key IBM Security technologies, and expert consulting and managed security services support.
Global Cyber Security Market Report by Segment
By Type
- Network Security
- Application Security
- Mobile Security
- Wireless Security
- Others
By Component
- Solution
- Service
By Vertical
- Government & Defence
- Aerospace
- BFSI
- Travel And Transportation
- Telecommunication
- Healthcare
- Retail
- Manufacturing
- Others
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Cyber Security Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- AVG Securities
- Booz Allen Hamilton
- Capgemini
- Cisco Systems Inc.
- Clearwater Compliance LLC
- CSC Corp.
- CYBERARK SOFTWARE LTD.
- Dell SecureWorks
- Forcepoint
- Fortinet, Inc.
- Herjavec Group
- IBM Corp.
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