The global cyber security market is forecasted to reach US$297.2 billion in 2026, experiencing growth at a CAGR of 7.54% during the period spanning from 2022 to 2026. Growth in the global cyber security market was supported by factors such as surge in cyber crime rate, increasing digitalization, rise in cyber security regulations, evolution of Internet of Things (IoT) devices, upsurge in web traffic, surge in tech startups, and rising e-commerce sales. However, the market growth is expected to be restrained by complexity of network infrastructure and higher reliance on traditional authentication methods.
The global cyber security market by type can be segmented as follows: security services, infrastructure protection, network security, identity access management, consumer security services, integrated risk management, data security, application security, cloud security and other information security software. In 2021, the dominant share of global cyber security market was held by security services, followed by infrastructure protection. The global cyber security market by end user can be segmented as follows: government, IT & telecom, banking, manufacturing, insurance, transportation, securities and others. The largest share of the market was being held by government, followed by IT & telecom and banking.
The global cyber security market by region can be segmented as follows: North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In 2021, the dominant share of market was being held by North America, followed by Europe and Asia Pacific. Factors such as surge in tech startups and rising e-commerce sales helped in boosting market growth.
Scope of the report:
• The report provides a comprehensive analysis of the global cyber security market with potential impact of COVID-19.
• The major regional markets (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (International Business Machines Corporation (IBM), Cisco Systems, Inc., Broadcom Inc., Palo Alto Networks, Inc., McAfee Corp., Check Point Software Technologies Limited) are also presented in detail.
Key Target Audience:
• IT services companies
• Cyber security solution providers
• End Users (Businesses/Consumers)
• Investment Banks
• Government Bodies & Regulating Authorities