The global cyber security market size was valued at USD 115.46 billion in 2019 and is anticipated to grow at a CAGR of 13.1% during the forecast period. Cyber security is protection of networks, computers, programs and data from cyber-attack, data loss, or unauthorized access. Cyber security includes network security, information security, application security, data recovery, and operational security among others. The demand for this market has increased over the years owing to growing incidences of cyberterrorism, cyberwarfare, and cyberespionage. Application security uses techniques such as input parameter validation, auditing and logging, user authentication & authorization, and session management among others. Information security involves protection of information from unauthorized access to avoid identity theft and offer privacy. Some techniques used for information security include cryptography, and identification, authentication & authorization of user.
The increasing need for data privacy, and growing penetration of mobile devices drive the growth of the market. The growing trend of BYOD and IOT further supports market growth. The growing adoption of cloud-based cybersecurity solutions is expected to support market growth during the forecast period. Other factors driving the market include technological advancements, growing threat of malware among enterprises, and increasing cyber terrorism. However, growing use of pirated cyber security solutions, and complexities associated with device security hinder market growth. Growing demand from emerging economies, and increasing adoption of cyber security solutions by small and medium enterprises are factors expected to provide numerous growth opportunities in the coming years.
The global cyber security market is segmented on the basis of type, deployment model, end-user, organization size, solution, and region. Based on type, the market is segmented into enterprise security, network security, application security, endpoint security, and others. On the basis of deployment model, the market is segmented into on-premise, and cloud-based. The end-user segment is categorized into BFSI, IT & telecom, healthcare, retail, defense and government, travel and hospitality, and others. The organization size segment is divided into large enterprises, and small and medium businesses. On the basis of solution, the market is segmented into encryption, unified threat management, identity and access management, data loss prevention, antivirus/anti-malware, risk and compliance management, disaster recovery, and others.
The component segment is bifurcated into solutions, and services. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific. North America accounted for the largest share in the global cyber security market in 2019.
By Deployment Model
Know more about this report: request for sample pages
The leading players in the market include Symantec Corporation, Cisco Systems Inc., BAE Systems Inc., EMC Corporation, Hewlett-Packard Enterprise, Intel Security, Palo Alto Networks, Proofpoint Inc., LogRhythm Inc., IBM Corporation, Fortinet, Inc., and Centrify Corporation among others. These leading players in the market are introducing innovative products in the market to cater to the consumers. Global players are entering new markets in developing regions to expand their customer base and strengthen market presence.