Global Cyber Security Market Expected to Exceed USD 150 Billion with A CAGR 8-11% By 2021
Global Cyber Security Market – Overview
Cyber Security market is expected to grow with the CAGR of ~8% - 11% during 2016 to 2021, owed to which it is predictable to cross USD $150 billion by 2021, assures the Market Research Future in one of its recently published study report - “Global Cyber Security Market Research Report Forecast 2017- 2021”
With growing industries and preference for centralization amongst the organizations; the computer based systems have become an indispensable part of the business processes. Thus, cyber security has become the most critical concern for organizations to protect their data from the fast-rising incidences of cybercrimes. Cyber security systems are used in computers connected to the internal as well as external networks.
Cyber security is one of the foremost concerns around the globe. The cyber security enables protection from attacks such as unauthorized access, hacking, instillation of codes such as virus and other threats. As the technology is growing and new applications are emerging in in to the market, hackers too are finding the different loopholes through which they steal the important and confidential data from the servers tactfully and sell it to the other countries or in black market., states the MRFR research analyst while commenting upon this deep diving study report, presented through more than 100 market data tables and figures and widely spread over 145 pages.
Global Cyber Security Market is driven by the increasing cyber threats, lack of focus in security systems, dependency on information technology and stringent government rules and policies.
Global Cyber Security Market – Key Players
The report includes a study of strategies of major market players along with their product portfolios, developments and trends.
• Cisco Corporation (U.S.)
• Mcafee Corporation (U.S.)
• Fortinet Inc. (U.S.)
• Trend Micro Inc. (Japan)
• Cassidian Cybersecurity Company (France)
• Computer Science Corporation (U.S.)
• Booz Allen Hamilton Corporation (U.S.)
• Kaspersky Lab (Russia)
• Fireeye Inc. (U.S.)
• Symantec Corporation (U.S.)
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Cyber Security Market – Report Segmentation
The report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. For an easy grasp, cyber security market is segmented in to 3 dynamics.
Segmentation by Services: Risk Assessment services, Consulting Services, Design Services Training Service and Others.
Segmentation by Application Verticals: BFSI, Manufacturing, Telecommunications, Aerospace & Defense, Healthcare & Others.
Cyber Security Market – Synopsis & Scenario
While providing the market insights, on various levels of industry analysis and market share in whole, this study report comprises and discusses the basic assessments on the competitive scenarios & strategies, of the global cyber security market, including the high-growth regions, countries and their political, economic and technological environments. Furthermore, the market report also provides the views over the historical market values as well as, pricing and cost analysis of the same.
Cyber Security market is expected to grow with the CAGR varying between ~8%-11% during 2016 to 2021, and is expected to cross over USD 150 billion by 2021.
BFSI, Manufacturing and Healthcare are among the largest consumers of Cyber Security Market
BFSI (Banking, Financial services and Insurance) is the main target of attackers as this industry deals with various products which can be traded for cash. Credit Card, Internet Banking are some major products and services on which the attackers are targeting.
Manufacturing and Healthcare industry suffers crucial and confidential data loss whenever any cyber-attack takes place. These data are sold in black market for billions of dollars.
The growing online banking malware to obtain financial information of debit/credit card and bank account passwords has given rise to cyber security market in BFSI sector.
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Cyber Security Market – Regional Analysis
North America is leading in the market of Cyber Security. Countries like the US and Canada are well developed in the field of technology and also some of the major players who provide cyber security options are located in the North America.
Europe is accounted for the second largest market share in the Cyber Security Market. The main reason behind this is some countries of Europe have good command over the technology and most of the company in Europe region update their cyber security model periodically.
Asia Pacific and MEA have emerged are fastest growing market for the cyber security. Asia-Pacific is expected to dominate cyber security market surpassing the revenues of North America during the forecast period. Since China and India are in developing phase and becomes easy target for the attackers to steal the data in the initial stage of development.
o Asia-Pacific is expected to dominate cyber security market surpassing the revenues of North America during the forecast period.
o The growing online banking malware to obtain financial information of debit/credit card and bank account passwords has given rise to cyber security market in BFSI sector.
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