Global Cybersecurity Market to Grow at 9.6% During 2023-2028, Augmented by Rising Advanced Persistent Threats

August 09, 2021 | Technology & Media

According to the latest report by IMARC Group, titled “Cybersecurity Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global cybersecurity market reached a value of US$ 247.9 Billion in 2022. Cybersecurity solutions are used to secure servers, networks, and other electronic systems from unauthorized access of data. They reduce the vulnerability of cyber-attacks and protect critical information systems without interfering with the customer experience. They also enable employees to work at any time from any device or location. Presently, the demand for cybersecurity solutions is escalating on account of the growing instances of data breaches worldwide.
 

Global Cybersecurity Market Trends:

The coronavirus disease (COVID-19) outbreak and subsequently imposed lockdown restrictions by governing agencies of numerous countries have increased the adoption of remote working models among enterprises across the globe. This, in turn, is catalyzing the demand for cybersecurity solutions to support business continuity amidst pandemic uncertainties. Besides this, the growing use of online banking services around the world is positively influencing the adoption of cybersecurity solutions in the banking, financial services, and insurance (BFSI) sector. Additionally, there is a significant rise in the need to defend critical infrastructure from advanced persistent threats (APTs). As a result, governments worldwide are employing cybersecurity solutions to improve their security measures. Furthermore, leading players are utilizing automated technologies, such as artificial intelligence (AI), machine learning (ML), and advanced analytics, to minimize the impact of breaches. Looking forward, IMARC Group expects the market to exhibit a CAGR of 9.6% during 2023-2028.


Market Summary:

  • Based on the component, the market has been divided into solutions [identity and access management (IAM); infrastructure security; governance, risk and compliance; unified vulnerability management service offering; data security and privacy service offering; and others] and services (professional and managed).
  • On the basis of the deployment type, the market has been bifurcated into cloud-based and on-premises segments. 
  • Based on the user type, the market has been classified into large, and small and medium enterprises.
  • On the basis of industry vertical, the market has been segmented into IT and telecom, retail, BFSI, healthcare, defense/government, manufacturing, energy, and others.
  • Region-wise, the market has been segregated into North America (the United States and Canada); Asia Pacific (South Korea, Japan, China, India, Australia, Indonesia, and others); Europe (the United Kingdom, France, Germany, Italy, Spain, Russia, and others); Latin America (Mexico, Brazil, and others); and Middle East and Africa. 
  • The competitive landscape of the market has been examined, with some of the key players being Accenture PLC, Broadcom Inc., Capgemini Service SAS, Cisco Systems, Inc., Cognizant Technology Solutions Corporation, HCL Technologies Ltd., Infosys Limited, International Business Machines Corporation (IBM), Lockheed Martin Corporation, Palo Alto Networks, Inc., Tata Consultancy Services Limited, Tech Mahindra Limited, Trend Micro Incorporated, and Wipro Limited.

Report Scope:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Component, Deployment Type, User Type, Industry Vertical, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Accenture PLC, Broadcom Inc., Capgemini Service SAS, Cisco Systems, Inc., Cognizant Technology Solutions Corporation, HCL Technologies Ltd., Infosys Limited, International Business Machines Corporation (IBM), Lockheed Martin Corporation, Palo Alto Networks, Inc., Tata Consultancy Services Limited, Tech Mahindra Limited, Trend Micro Incorporated, and Wipro Limited
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Cybersecurity Market to Grow at 9.6% During 2023-2028, Augmented by Rising Advanced Persistent Threats
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