Market Research Report
Cyber Security Market Size By Product Type, By Organization, By Industry, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
|Published by||Global Market Insights Inc.||Product code||786045|
|Published||Content info||442 Pages
Delivery time: 2-3 business days
|Cyber Security Market Size By Product Type, By Organization, By Industry, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026|
|Published: April 17, 2020||Content info: 442 Pages||
The cybersecurity market is expected to grow substantially in the coming years due to the increasing digitalization and growing frequency of cyberattacks. Cybersecurity is generally the practice of protecting programs, systems, and networks from various digital attacks. These digital attacks or cyberattacks are basically focused at either destroying, accessing & stealing, and changing sensitive information, or interrupting the normal business processes, or generating money by fraud means from users.
Cybersecurity market is segmented in terms of product, organization type, industry, and regional landscape.
Based on product, the cybersecurity market is bifurcated into IAAM, infrastructure protection, network security, and security services. The infrastructure protection segment is further classified into vulnerability assessment, endpoint protection, SIEM, DLP, email/web gateway, and cloud security.
Email/web gateway segment is likely to observe a CAGR of around 15% through 2026 due to increasing incidents of phishing e-mails. SIEM segment will witness a CAGR of over 15% through 2026 for providing real time event updates and threat alerts.
Vulnerability assessment segment held a market share of over 20% in 2019 as it prioritizes and prevents any network/endpoint vulnerabilities. DLP will grow with a 17% CAGR through 2026 as it prevents the loss of valuable personal and enterprise data.
The network security segment is further categorized into UTM, ISP equipment, firewall, and VPN. The ISP equipment held a market share of over 50% in 2019 due to growing need of cybersecurity for securing IT infrastructure of ISPs. The VPN segment will observe a CAGR of around 20% through 2026 due to increasing stress on privacy and work from home trends.
The UTM segment will witness a growth rate of 20% through 2026 due to robust threat management capabilities. The firewall segment is likely to witness a market share of over 20% in 2026 due to increasing use of firewalls for policy-based access.
The security services segment is further bifurcated into managed security services, hardware support, implementation, and consulting & training. The consulting & training segment will witness a CAGR of around 15% through 2026 due to rising deployment of such services by SMEs without in-house IT staff. The hardware support segment held a market share of over 20% in 2019 due to increasing complexities in cybersecurity related hardware.
With respect to industry, the cybersecurity market is segmented into securities, manufacturing, banking, IT & telecom, government, and transportation. The government sector held over 20% market share in 2019 due to increasing financial frauds on government digital assets. The transportation industry is likely to witness a CAGR of around 12% through 2026 due to growing demand of IT security in connected vehicles.
The insurance sector will foresee a CAGR of nearly 15% through 2026 due to increasing cases of online identity theft and financial scams during insurance claims. The securities segment will observe a CAGR of 14% through 2026 as the demand for malware attack protection is surging.
From a regional frame of reference, Latin America cybersecurity market will witness a growth rate of over 20% due to increasing rate of spam and phishing attacks. The Middle East & Africa cybersecurity market will observe a CAGR of around 16% through 2026 due to cyberattacks on public sector establishments.