CyberSecurity Market 2020 – 2025: Business Trends, Size, Global Segments and Industry Profit Growth
CyberSecurity Market Scenario:
The cybersecurity market 2020 can gain considerable grounds by
acquiring a strong valuation of USD 199.98 billion by 2025-end, reveals Market
Research Future (MRFR). The market is on track to achieve a decent growth rate
of 10.5% between 2018 and 2025 (assessment period), despite the COVID-19
impact. We will provide COVID-19 impact analysis with the report, offering
detailed market developments following the coronavirus disease outbreak.
Even as the COVID-19 outbreak has been a debilitating event for
the world, it has emerged as an opportunity for cybercriminals. Reports confirm
that since February 2020, IBM X-Force has noted a whopping 4,300 percent surge
in coronavirus-themed threats and spam. While organizations are focusing on
challenges associated with remote working, lockdown and restrictions on
travelling, financial crunch, and ensuring the resiliency of supply chains, the
focus on cybersecurity has somewhat weakened in the bargain. The key challenge
as of now is to secure the remote working models and facilitate uninterrupted
flow of business operations and functions, while protecting the organization
from CyberSecurity Market attackers who are looking to benefit from the increased IT
vulnerability.
In the fight against the pandemic and in the race to find a
COVID-19 breakthrough, healthcare professionals are increasingly using phones,
chat, telemedicine portals and email for remote diagnoses and counseling. The digital
infrastructure is now being extensively used to obtain essential protective
supplies for healthcare workers and more. However, the growing digitization
across healthcare and various industries following the SARS-CoV-2 outbreak has
also brought along with it a broad range of risks. This situation calls for
advanced real-time risk and 24/7 surveillance analysis at both digital and
physical entry points, for which the enterprises are continuously adopting the
most advanced cybersecurity solutions and services.
The outbreak of the novel coronavirus has boosted the consumer
engagement in numerous cloud services, such as cloud PBX, cloud ERP, connected
mobility solutions and cloud video streaming. This has been a favorable aspect
for the cybersecurity market for obvious reasons. Apart from this, most of the
leading contenders are opting for new product development, partnerships and
acquisition as their growth strategies to boost their market position, expand
their customer base and also meet with the evolving demands of different
verticals.
For instance, in June 2020, IBM acquired Spanugo, a leading cloud
cybersecurity solutions provider in the United States. This acquisition boosts
IBM’s capability to cater to the cybersecurity demands of clients belonging to
extremely regulated industries, as the Spanugo software helps the capabilities
of the IBM public cloud solutions and services.
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Leading
Market Players:
The leading market players listed in the report include IBM
Corporation (US), Imperva (US), Rapid7, Inc. (US), Trend Micro, Inc. (Japan),
SecureWorks, Inc. (Dell Technologies)
(US), FireEye Inc. (US), BAE Systems (UK), HP Enterprise (US), Carbon
Black, Inc. (US), Sophos Ltd. (UK), Cisco Systems, Inc. (US), Symantec
Corporation (US), Akamai Technologies (US), Intel Corporation (US), EMC RSA
(US), and more.
Market
Segmentation:
The cybersecurity Industry can be considered for component,
organization size, deployment, security type and vertical.
·
The
categories on the basis of component include solutions as well as services.
·
The
ranges depending on the organization size could be SMEs/small and medium sized
enterprises as well as large enterprises.
·
The
key security types covered in the market study are wireless security, endpoint
security, network security, cloud security, application security, and others.
·
The
deployment model-wise sections are cloud and on-premise.
·
The
verticals that use cybersecurity solutions and services include IT &
telecommunication, healthcare, manufacturing, retail, BFSI, aerospace &
defense, government, and more.
Regional
Insight:
The cybersecurity industry has been geographically considered for
Europe, North America, MEA/Middle East & Africa, South America and
APAC/Asia Pacific. The North American market is in the lead, while APAC can be
the fastest gaining market during the appraisal period.
Cyber threat in North America has emerged as a major issue for
various enterprises and e-commerce vendors, which are based on the cloud
systems. Banking and financial sectors in the region are fast adopting
cybersecurity solutions, with the US at the forefront of the market. The
country prioritizes cybersecurity and spends a great deal to address the cyber
threats. Other countries in the region are taking similar steps to ensure
national security, which can be a significant booster for the regional market.
Countries in APAC are consistently on the lookout for solutions to
deal with the increasing cyber threats, compelling various enterprises across
diverse industries to adopt cybersecurity services for enhanced security of
their data and network. The mounting number of cyber threats has given way to
numerous government regulations that require to be followed by the enterprises,
or non-compliance can levy a huge fine. Therefore, stringent government
policies and the growing need among companies to adhere to them have helped the
APAC market for cyber security to gain high impetus in recent years.
About
Market Research Future:
At Market Research Future (MRFR),
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