ID: MRFR/ICT/0447-HCRR | June, 2016 | Region: Global | 100 pages | Half-Cooked Research Reports
Cyber Security Market, By Solution (IAM, Firewall, Antivirus, Disaster Recovery), Service (Managed, Professional), Security Type (Application, Network, Cloud, End Point, Wireless), Deployment (Cloud, On-Premise) and Vertical - Forecast 2023
Market Synopsis of Cyber Security Market:
Cyber security is a body of technologies, processes and practices designed to protect networks, computers, programs and data from unauthorized access. Cyber security is basically computer security. There is a significant increase in the cyber security market because cyber security solutions increase cyber speed and offers number of options to save data.
Major forces driving the growth of cyber security market are the need for stringent compliance and regulatory requirements. Increased deployment of web and cloud based applications are responsible for rapid growth of cyber security market.
The cyber security market has been segmented on the basis of solution, service, security type, deployment and vertical. The security type is further bifurcated into network security, end point security, application security, cloud security, wireless security and others.
The application security type is expected to grow at the highest CAGR during the forecast period owing to internet of things and BYOD trends and connected number of devices.
The global cyber security market is expected to grow at approx. USD 251 Billion by 2023, at 11% of CAGR between 2017 and 2023.
Study Objectives of Cyber Security Market:
The prominent players in cyber security market are – Intel Security (U.S.), Symantec Corporation (U.S.), Hewlett Packard Enterprise (U.S.), IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), Rapid7, Inc. (U.S.), EMC RSA (U.S.), FireEye, Inc. (U.S.), Trend Micro, Inc. (Japan) and Sophos Ltd. (U.K.) among others.
The regional analysis of cyber security market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in cyber security market in North America attributes to the technical advancements and increasing use of mobiles and tablets in that region.