Cyber Security Market Size – USD 173.20 Billion in 2020, Market Growth – at a CAGR of 7.6%, Market Trends – Increasing cyber-attacks in BFSI industry

The report clearly defines the Cyber Security market position on a global level. The detailed insights into the market’s geographical spectrum offered by the report make it an excellent source of knowledge about the Cyber Security industry.

Adoption of cloud-based services in various industries has increased thus driving growth of the cyber security market to a significant extent. Enterprises are increasingly adopting cloud-based services as this is less expensive and does not require an IT infrastructure setup. Cloud deployment leads to vulnerabilities in software and makes information easily accessible by cyber criminals. Companies are focused on improving their cyber security software to protect their data from cyber-attacks.

The Global Cyber Security Market report assesses the historical and current data along with a thorough analysis of the market dynamics. The report also sheds light on the significant market growth driving and restraining factors that are anticipated to influence the market growth through the forecast period.

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Key Market Dynamics: The global Cyber Security market research report details on the ongoing market trends, development outlines, and several research methodologies. It illustrates the key factors that directly manipulate the market, for instance, production strategies, development platforms, and product portfolio. According to our researchers, even minor changes within the product profiles could result in huge disruptions to the above-mentioned factors. Each of these factors has been elaborately discussed in the initial segment of the study.

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Some Key Highlights From the Report

Encryption is a cyber-security measure which protects personal and private data through the use of unique codes that scramble the data and make it almost impossible for intruders to read. Even if there is a data breach, encryption ensures institution’s private data is safe even when cyber criminals get past the firewall.
Large enterprises segment accounted for largest revenue share in 2020 due to increased cyberattack incidence on personal databases of such organizations. Large organizations are improving their cyber security abilities to protect their data and safeguard customer information.
Retail industry witnessed more breaches than any other industry in 2019, as criminals deployed more advanced methods to target vast asset and data retailers. As digital commerce is becoming more popular, retailers are investing majorly in state-of-the-art security software to protect their e-commerce engines. Point of Sale (POS) attacks are the most common due to containing sensitive information such as debit and credit card details, numbers, and PINs.
Asia Pacific market revenue is expected to increase at a rapid rate during the forecast period due to increase in investment by government and enterprises to protect respective data and information. Japan followed by India experienced the highest number of cyber-attacks in 2020, which propelled growth of the market thereafter. Finance & insurance was the most attacked sector in India in 2019, followed by manufacturing and professional services.
Key players in the market include IBM Corporation, Cisco Systems, Juniper Networks, CyberArk, Forcepoint, McAfee, Microsoft, F5 Networks, Oracle, and Fortinet.
The findings of the report explain various aspects of the market, such as market status, developmental prospects, key regional segments, renowned market players, product offerings, end-use industries.

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Geographical Terrain of the Global Cyber Security Market:

North America
Europe
Asia Pacific
Latin America
Middle East & Africa
The global Cyber Security market is segmented based on product types offered in the market, their applications, end-user industries, different types of technologies, and key regions of the market.

Component Outlook (Revenue, USD Billion; 2018–2028)
Hardware
Software
Solution Outlook (Revenue, USD Billion; 2018–2028)
Threat Intelligence
Identity and Access Management
Security and Vulnerability Management
Risk and Compliance Management
Others (Others include threat intelligence platforms, SIEM, and incident forensics)
Services Outlook (Revenue, USD Billion; 2018–2028)
Professional Services
Design and Integration
Risk and Threat Assessment
Consulting
Training and Education
Support and Maintenance
Managed Security Services
Security Type Outlook (Revenue, USD Billion; 2018–2028)
Application Security
Network Security
Cloud Security
Endpoint Security
Others
Deployment Outlook (Revenue, USD Billion; 2018–2028)
Cloud
On-Premises
Organization Size Outlook (Revenue, USD Billion; 2018–2028)
Small and Medium Enterprises
Large Enterprises
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Key Questions You Asked:

What is the growth rate of the Cyber Security market? What is the anticipated market valuation of the Cyber Security industry by 2028?
What are the key growth driving and restraining factors of the Cyber Security market?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
What are the key opportunities and growth prospects of the Cyber Security industry over the forecast period?
Which region is expected to show significant growth in the coming years?
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