Cybersecurity Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

Cybersecurity Market: Introduction

• Cybersecurity is the process of protecting networks, systems, and programs from digital attacks. Cyber-attacks are usually aimed at changing, accessing, or destroying sensitive information; extorting money from users; or interrupting normal business processes.
• As the world relies more on technology, cybersecurity plays a crucial role in protecting the digital data of governments and various business.
• Different forms of cybercrimes, such as phishing and hacking have increased rapidly, especially after the increasing use of internet during the COVID-19 quarantine phase, which has led to business interruptions and financial losses around the world.

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Global Cybersecurity Market: Dynamics

Global Cybersecurity Market: Key Drivers and Restraints

• Increase in the frequency and sophistication of cyber-attacks is one of the major factors driving the growth of the cybersecurity market.
• The growing need for advanced cybersecurity among small and large enterprises is likely to be a major triggering factor for the market in the coming years.
• The occurrence of massive cyber-attacks across the world is gradually increasing. Cyber terrorists attack endpoints, data, networks, and other IT infrastructure that leads to huge financial losses to enterprises, individuals, and governments. This in turn is expected to accelerate the growth of the cybersecurity market.
• Leveraging artificial intelligence, machine learning, and Blockchain technologies for cyber defense is projected to create an opportunity for the cybersecurity market.
• However, use of pirated and open source cybersecurity solutions are expected to hamper the growth of the market.

North America to Account for Major Share of the Global Cybersecurity Market

• In terms of region, the global cybersecurity market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
• North America is anticipated to lead the global cybersecurity market, due to adoption of advanced internet security solutions by enterprises. In addition, the significant adoption of internet services and importance of cyberspace in the digital world are the major factors accelerating the growth of the cybersecurity market across the region. Extensive adoption of cybersecurity by several industries, and technological developments across these industries are some of the other key factors anticipated to boost the growth of the market in North America.
• The cybersecurity market in Asia Pacific is expected to garner significant share due to increasing complexities faced by enterprises in implementing network security, coupled with compliance mandates, workforce mobility, and growing cyber-attacks. This in turn is expected to fuel the growth of the cybersecurity market across the Asia Pacific region.

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Global Cybersecurity Market: Competitive Landscape

Key Players Operating in the Global Cybersecurity Market

Local, regional, and international players are present in the cybersecurity market. The market is highly consolidated, with top manufacturers accounting for approximately 25%–30% share. Key players operating in the global cybersecurity market are:

• BAE Systems Plc
• Check Point Software Technologies Ltd.
• Cisco Systems Inc.
• FireEye Inc.
• Fortinet Inc.
• Hewlett Packard Enterprise Development LP
• IBM Corporation
• Intel Corporation
• McAfee LLC
• Microsoft Corporation
• Oracle Corporation
• Symantec Corporation
• Trend Micro Inc.
  • In April 2018, IBM Security and McAfee extended their partnership to integrate IBM IRP with Data Exchange Layer (DXL) and provide better protection through automation and intelligence sharing.
  • In April 2018, Symantec announced the development of a powerful threat detection technology used by its world-class research teams. Symantec’s Targeted Attack Analytics (TAA) enables advanced threat protection (ATP), thereby helping customers leverage advanced machine learning and discover targeted attacks.
  • In January 2018, FireEye acquired X15 Software, a provider of big data and machine learning-based solutions and plans to add X15 Software’s big data and machine learning capabilities to its security tools.

Global Cybersecurity Market: Research Scope

Global Cybersecurity Market Segmentation, by Deployment

• Cloud
• On- premise  

Global Cybersecurity Market Segmentation, by Security Type

• Network Security
• Endpoint Security
• Application Security
• Cloud Security
• Others (Content security, ICS security, database security, and web security)

Global Cybersecurity Market Segmentation, by Component

• Solutions
  • Threat Intelligence
  • Identity and Access Management
  • Security and Vulnerability Management
  • Risk and Compliance Management
  • Unified Threat Management
  • Firewall
  • Antivirus/ Antimalware
  • Others (threat intelligence platforms, SIEM, and incident forensics, etc.)
•  Services 
  • Professional
    • Training and Consulting
    • Integration and Deployment
    • Support and Maintenance
  • Managed

Global Cybersecurity Market Segmentation, by Industry

• BFSI
• IT & Telecommunication
• Retail
• Healthcare
• Government
• Manufacturing
• Travel & Transportation
• Energy & Utilities
• Others

Global Cybersecurity Market Segmentation, Enterprise Size   

• Large Enterprise
• Small & Medium Enterprise

Global Cybersecurity Market Segmentation, by Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • Germany
  • France
  • U.K.
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia Pacific
• Middle East & Africa
  • U.A.E.
  • Saudi Arabia
  • South Africa
  • Rest of Middle East & Africa
• South America
  • Brazil
  • Rest of South America

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

• Customer Experience Maps
• Insights and Tools based on data-driven research
• Actionable Results to meet all the business priorities
• Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

• North America
• Asia Pacific
• Europe
• Latin America
• The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.