Cyber Security Market |
Posted: August 19, 2018 |
Cybersecurity Market was around US$ 92.7 Bn in 2017 and is expected to grow at a CAGR of around 10.81% in the forecast period of 2018-2026. Cyber security or information technology security are the techniques of protecting computers, networks, programs and data from unauthorized access or attacks that are aimed for exploitation. Improved security along with enhanced defense & speed are some of the major drivers for the cybersecurity market. In addition to this, it is the protection of confidential company data as well as providing protection against virus, malware etc. that form some other key factors to have driven the cybersecurity market. Protecting individual private information along with networks and resources are some other key factors driving the cyber security market. In addition, the cyber security also help to fight against computer hackers and identity theft as well. The demand for cloud-based cyber security solutions is increasing due to cost-effectiveness and time-efficient features of cloud. The growth of cyber security is specifically high in enterprises, where the low-cost solutions are much required. The cyber security market is segmented component, organization size, deployment mode, security type, industry, and region. The network security segment is estimated to hold the largest share of the cyber security market in 2017, fuelled by the growing number of insider cyber threats. The banking, financial services, and insurance (BFSI) vertical is expected to grow a high CAGR during the forecast period due to the rise in emergence of IoT and BYOD across various verticals. Large organizations are deploying cyber security solutions for protecting confidential information against cyber threats that are becoming modified and sophisticated every day. North America is estimated to hold the largest market size in 2018. The North America is estimated to become the largest region for cybersecurity market in 2017 followed by Europe. This is mainly because in the developed economies of the US and Canada, there is a high focus on innovations obtained from Research and Development (R&D), and technology. The key players of cyber security market include IBM Corporation (US), McAfee LLC (US), Symantec Corporation (US), Hewlett Packard Enterprise (US), and Trend Micro, Inc. (Japan). <a href="https://www.maximizemarketresearch.com/">market research company</a>
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