The global cyber security
market is expected to reach USD 205.51 billion by 2024,
according to a new report by Grand View Research, Inc. The dependence of enterprises
on information technology and sensitive nature of digitally stored data has
raised the stake for cyber-attackers with financial gain becoming a primary
motive.
Asia Pacific Cyber security Market By Application, 2014 - 2024 (USD Billion) |
Solution providers are indulging in research and
development to develop next-generation security solutions. For instance,
Science Applications International Corporation (SAIC) has developed an
innovative cybersecurity technology that helps government protect critical
data, mitigate risks, and establish a comprehensive defense against cyber-attacks.
There is also a greater emphasis on the intelligence-led security as
conventional security technologies, such as web, content management and network
security, are failing to deliver the tracking of security incidents.
The cybersecurity industry is expected to witness high
demand for cloud-based applications as government organizations are opting for
the cloud platform for data sharing.
Access
Full Research Report by Grand View Research: http://www.grandviewresearch.com/industry-analysis/cyber-security-market
Further
key findings from the study suggest:
- The services segment is anticipated to grow at a
CAGR of over 12% from 2016 to 2024. The growing demand for Security-as-a-Service
(SaaS) and cloud-based solutions is expected to provide growth
opportunities
- Healthcare industry is expected to reach over USD
30 billion by 2024. The health insurers are the prime target of the
cyber-attacks, such as Advanced Persistent Threats (APTs) and spear
phishing. The crimes and breaches in this sector are rising as the cost of
stolen medical record is increasing.
- The North American cybersecurity industry is
anticipated to reach over USD 61 billion by 2024. The increasing cybercrime
costs are enabling the region to focus on building a strong resilience
system for managing cybercrimes.
- MEA is expected to grow at a CAGR of over 12.5%
from 2016 to 2024. The region is adopting digital technologies and
applications at a faster pace, increasing the risk of cyber-attacks. The
expansion of digitization throughout the region has made cybersecurity a
necessity for organizations.
- The major players in the cybersecurity market
include Fortinet Inc., Checkpoint Software Technologies Ltd, Cisco Systems
Inc., Trend Micro Inc. and Symantec Corporation. The companies in the
cyberspace are focusing on reducing the costs incurred in implementing
security strategies by moving from solution-based products to service
offerings The growing trend of security-as-a-service is increasing the
adoption of services and key players are integrating with major service
providers to fulfill consumer demand.
Browse more reports of this category
by Grand View Research: http://www.grandviewresearch.com/industry/network-security-software-and-services
Grand
View Research has segmented the cyber security market on the basis of component,
security type, solutions, services, deployment, organization, application, and
region:
Cyber security Component
Outlook (Revenue, USD Billion, 2014 - 2024)
- Solution
- Services
Cyber security Security Type
Outlook (Revenue, USD Billion, 2014 - 2024)
- Enterprise
security
- Endpoint security
- Cloud security
- Network security
- Application
security
- Others
Cyber security Solution Outlook
(Revenue, USD Billion, 2014 - 2024)
- UTM
- IDS/IPS
- DLP
- IAM
- SIEM
- DDoS
- Risk and
compliance
- Others
Cyber security Services Outlook
(Revenue, USD Billion, 2014 - 2024)
- Professional
services
- Managed services
Cyber security Deployment
Outlook (Revenue, USD Billion, 2014 - 2024)
- Cloud
- On-premise
Cyber security Organization
Outlook (Revenue, USD Billion, 2014 - 2024)
- Small and medium
enterprise
- Large enterprises
Cyber security Application
Outlook (Revenue, USD Billion, 2014 - 2024)
- IT & Telecom
- Retail
- BFSI
- Healthcare
- Defense/government
- Automotive
- Others
Cyber security Regional Outlook
(Revenue, USD Billion, 2014 - 2024)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- MEA
Access press release by Grand View
Research: http://www.grandviewresearch.com/press-release/global-cyber-security-market
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Thanks so much for this article, this is just what I needed today!
ReplyDeleteCorporate Compliance Management Services