Market Research Report
Global Cyber Security Vendor & Service Provider Ecosystem
|Published by||Westlands Advisory Ltd||Product code||945510|
|Published||Content info||147 Pages
Delivery time: 1-2 business days
|Global Cyber Security Vendor & Service Provider Ecosystem|
|Published: September 16, 2020||Content info: 147 Pages||
Product innovation, M&A and high expenditure on Sales & Marketing continued through the first half of 2020 despite economic uncertainty. Industry sales growth dropped to under 10% though is expected to recover in 2021.
The global market for cyber security technologies and services was $115.4 billion in 2018 and grew to $128.6 billion in 2019. In 2020 market growth has been affected by the disruption caused by COVID-19 and the resulting adverse economic conditions. However, a wide range of vendors continue to perform well and despite a slowdown in customer investment, the outlook for the market in 2021 is bright.
Increasing digital automation, remote access and adoption of cloud-based services and infrastructure, combined with the evolving cyber threat, will continue to sustain market demand. Merger & Acquisition activity is expected to remain strong along with the steady emergence of cyber start-ups.
Westlands Advisory's latest report analyses the trends impacting the current cyber security ecosystem and provides guidance to vendors, integrators and investors.
During the next 12 months Westlands Advisory expects to see further investment from telecommunication service providers and leading technology firms in the cyber security market, leading to further consolidation of the professional and managed services market. Product portfolio expansion will also continue as vendors build a portfolio of solutions to help customers access and protect a wide range of services hosted on-premise, in the cloud and at the edge.