Introduction of the Cyber Security Market Report

Cyber security solutions help an organization to detect, monitor, counter, and report cyber threats in order to maintain confidential data. It is the practice created to protect devices, programs, and data from damage, attack, or unauthorized access. The purpose of cyber security is to defend computing assets belonging to or connecting to an organization’s network against all the threats throughout the entire life cycle of a cyber-attack.

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Market Dynamic

Key Drivers and Emerging Trends

Cyber threats have increased at an alarming rate, due to which security solutions have been gaining traction. Recently, a cyber threat detection firm, FireEye revealed that it had suffered an attack on its systems, which resulted in the theft of its red team tools. Solutions such as firewalls and antivirus software have grown significantly and proven to be effective in preventing attacks and threats, which include phishing, malware, and trojans. Additionally, the increasing popularity of digitalization has inclined most of the organizations to extensively rely on digitalized information. Organizations share a massive amount of data in an internal and external environment and thereby exposure to cybercrime through different forms of attacks. These factors are supplementing the growth of the global cyber security market.

The major platform for an increase in cybercrime activities is connectively through the use of social media, mobile services, big data, and cloud. For instance, cloud-based services and third-party data storage have opened avenues for an online attack. Furthermore, IoT products that are enabled with IP sensors introduce vulnerabilities to the user data if not adequately tested, thus increasing the need for the cyber security system in the business environment.

Impact of COVID-19 on the Cyber Security Market

Due to the widespread Covid-19 outbreak, countries across the globe have implemented precautionary measures. During the pandemic, organizations have been finding a way to allow their employees to work from home, which has increased the adoption of video communication platforms. Enterprises have started implementing cyber security solutions to enable work from home with proper safety of their data. For instance, since January 2020, more than 1700 new domains have been registered according to Checkpoint security.

Restraint in the Cyber Security Market

On the contrary, lack of in-house expertise, IT resources, knowledge about IAM solutions, and limited security budget among SMEs might restrain the growth of the global cyber security market.

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Product Type – Segment Analysis

Based on the product type, the solutions segment is anticipated to witness a faster CAGR over the forecast period. This is mainly due to the growing need to monitor in-house as well as external threats for both large and small & medium enterprises. Furthermore, the increasing investment and rising adoption of cloud technologies among several industries, such as IT & telecommunication, banking, financial services, & insurance, and others are playing a crucial role in propelling the growth of the solutions segment in the global cyber security market. For instance, in 2020, Quick Heal Technologies launched new cyber security solutions for businesses, government, and consumers, which offers cloud-based email security that prevents phishing, spam, and infected mails.

End-User Industry – Segment Analysis

On the basis of the end-user industry, the aerospace, defense & intelligence segment is expected to grow at a higher CAGR over the forecast period. Airplane navigation and guidance systems are highly susceptible to cyber-attacks, which can have massive ramifications. This increases the need to secure all the networks and computers for the ground and airborne operations. Furthermore, the rising adoption of machine-to-machine (M2M) technologies in the aerospace domain and the increasing focus of governments on cyber security to counter cyber terrorism are likely to surge the growth of the aerospace, defense & intelligence segment in the market.

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Region – Segment Analysis

Based on the region, Asia-Pacific is projected to grow at a higher CAGR over the forecast period. This is mainly attributed to the strong presence of various market incumbents in this region. India is the country ranking fifth in terms of overall DNS hijacks and has registered a rapid increase in cybercrime. For instance, India accounted for 37% of the global breaches in terms of data stolen or compromised. In addition, South Korea has become one of the major targets for cyber-attacks due to the growing number of connected devices and significant intellectual property. In 2019, cybercrimes in South Korea increased by nearly 14% in 2018 according to National Police Agency Report. These factors are providing substantial growth to the cyber security market in Asia-Pacific.

Top Market Players

Various notable players operating in the market include Avast Software s.r.o., FireEye, Inc., Cisco Systems Inc., Check Point Software Technologies Ltd., Dell Inc., CyberArk Software Ltd., IBM, Fortinet, Inc., Imperva, Intel Corporation, among others. 

Key Developments

• • In 2020, FireEye, Inc. announced the acquisition of Respond Software, the cybersecurity investigation automation company and the creator of Respond Analyst. This acquisition is aimed to deliver eXtended Detection and Response (XDR) capabilities to a wide range of customers.
  • In 2020, CyberArk Software Ltd., a leader in Identity and Access Management Solutions, announced an update to its Next-Gen Access (NGA) platform. This update adds endpoint security and passwordless capabilities to the platform.

Segments covered in the Report:

The global cyber security market has been segmented on the basis of product type, deployment, end-user industry, and key regions. Based on product type, the market is segmented into solutions and services. The solutions segment is further segmented into identity & access management, unified threat management & threat mitigation, security & vulnerability management, DDoS mitigation, next generation firewall, IDS/IPS, security information & event management, email security, endpoint security, IoT security, and other solutions. Based on deployment, the market is segmented into on-cloud and on-premises. Based on end-user industry, the market is segmented into aerospace, defense & intelligence, banking, financial services, & insurance, healthcare, manufacturing, retail, public utility, IT & telecommunication, and other end-user industries. 

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Key questions answered in this research report:

• • At what pace is global cyber security market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in cyber security market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global cyber security market?
  • Which product type generated maximum revenues in 2019 and identify the most promising product type during the forecast period?
  • What are the various deployment areas of global cyber security market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Product Type, By Deployment, By End-User Industry, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Avast Software s.r.o., FireEye, Inc., Cisco Systems Inc., Check Point Software Technologies Ltd., Dell Inc., CyberArk Software Ltd., IBM, Fortinet, Inc., Imperva, Intel Corporation, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Cyber Security Market by Product Type

• • Solutions
    • Identity & Access Management
    • Unified Threat Management & Threat Mitigation
    • Security & Vulnerability Management
    • DDoS Mitigation
    • Next Generation Firewall
    • IDS/IPS
    • Security Information & Event Management
    • Email Security
    • Endpoint Security
    • IoT Security
    • Other Solutions
  • Services

Global Cyber Security Market by Deployment

• • On-Cloud
  • On-Premises

Global Cyber Security Market by End-User Industry

• • Aerospace, Defense & Intelligence
  • Banking, Financial Services & Insurance
  • Healthcare
  • Manufacturing
  • Retail
  • Public Utility
  • IT & Telecommunication
  • Other End-User Industries

Global Cyber Security Market by Region

• • North America Cyber Security Market (Option 1: As a part of the free 25% customization)
    • North America Cyber Security Market by Product Type
    • North America Cyber Security Market by Deployment
    • North America Cyber Security Market by End-User Industry
    • US Cyber Security Market All-Up
    • Canada Cyber Security Market All-Up
  • Europe Cyber Security Market (Option 2: As a part of the free 25% customization)
    • Europe Cyber Security Market by Product Type
    • Europe Cyber Security Market by Deployment
    • Europe Cyber Security Market by End-User Industry
    • UK Cyber Security Market All-Up
    • Germany Cyber Security Market All-Up
    • France Cyber Security Market All-Up
    • Spain Cyber Security Market All-Up
    • Rest of Europe Cyber Security Market All-Up
  • Asia-Pacific Cyber Security Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Cyber Security Market by Product Type
    • Asia-Pacific Cyber Security Market by Deployment
    • Asia-Pacific Cyber Security Market by End-User Industry
    • China Cyber Security Market All-Up
    • India Cyber Security Market All-Up
    • Japan Cyber Security Market All-Up
    • Rest of APAC Cyber Security Market All-Up
  • RoW Cyber Security Market (Option 4: As a part of the free 25% customization)
    • RoW Cyber Security Market by Product Type
    • RoW Cyber Security Market by Deployment
    • RoW Cyber Security Market by End-User Industry
    • Brazil Cyber Security Market All-Up
    • South Africa Cyber Security Market All-Up
    • Saudi Arabia Cyber Security Market All-Up
    • UAE Cyber Security Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Cyber Security Market All-Up

Major Players Operating in the Cyber Security (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Avast Software s.r.o.
  • FireEye, Inc.
  • Cisco Systems Inc.
  • Check Point Software Technologies Ltd.
  • Dell Inc.
  • CyberArk Software Ltd.
  • IBM
  • Fortinet, Inc.
  • Imperva
  • Intel Corporation