Market Research Report
Global Cyber Security Market Forecast 2021-2028
|Published by||Inkwood Research||Product code||969271|
|Published||Content info||188 Pages
Delivery time: 2-3 business days
|Global Cyber Security Market Forecast 2021-2028|
|Published: November 9, 2020||Content info: 188 Pages||
The global cyber security market is estimated to project a CAGR of 10.34% during the forecast period, 2021-2028. The rising virus threat among organizations, growth of bring-your-own-device and IoT, increasing cyber security incidents & cyber security regulations, and growing demand for cloud-based cyber security solutions, are the factors predicted to propel the market growth.
Cyber threats are internet-based attempts to disrupt or interrupt information systems, hacking critical information through malware, phishing, and spyware. The cyber security solutions aid the organization in monitoring, detecting, reporting, and countering cyber threats for maintaining data confidentiality. Cloud-based cybersecurity solutions are in great demand. The vast adoption of the cloud computing model is attributed to its flexible and powerful infrastructure option. The organizations are adopting cloud solutions for simplifying the data storage, since it provides remote server access on the internet, further enabling access to unlimited computing power. The implementation of a cloud-based model allows the management of applications, since it offers exceptionally challenging analytics running in the background. It further aids the organizations in combining supplementary infrastructure technologies, like software-defined perimeters, for creating highly secure platforms. However, the complex designs of device security and limited budget among SMEs, are set to negatively impact market growth.
The geographical analysis of the global cyber security market is based on the evaluation of North America, Europe, Asia Pacific, and rest of world. North America is estimated to be the largest market by 2028, in terms of market share. The rising cloud-enabled activities and growing cloud marketplace trends are expected to contribute to the region's market growth.
The market encompasses many regional and global players contesting for market space. Several new players have been able to gain traction in the market. Some of the leading players in the market are Dell Technologies Inc, Cisco Systems Inc, AVG Technologies (Acquired by Avast), Check Point Software Technologies Ltd, CyberArk Software Ltd, etc.