The Cybersecurity Market is growing at a CAGR of 13.10% from 2022 to 2030

 

The Cybersecurity Market is forecasted to show a hike of up to USD 351.43 billion till 2030 with growing at a CAGR of 13.10% from 2022 to 2030.

The rise of the Cybersecurity Industry is being driven by the adoption of IoT and the BYOD trend, as well as an increase in malware and phishing threats among businesses. Furthermore, the market is thriving due to the surge in the need for cloud-based cybersecurity solutions.

The increasing number of e-commerce platforms and technological advancements such as artificial intelligence, cloud computing, and blockchain has raised the need for internet security solutions in network infrastructure.

The COVID-19 outbreak is projected to benefit the development of the Global Cybersecurity Market. The pandemic has accelerated the digitization of commercial operations and led organizations to utilize cloud computing. The market's expansion has been fueled by innovations and advances in cyber security solutions, as well as an increase in cyberattacks since the pandemic's inception.

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Market Segmentation

The Global Cybersecurity Market is classified by component, deployment model, organization size, and industry vertical.

Based on components, the Global Cybersecurity Market is divided into solutions and services. The solution sector dominates the cybersecurity industry in terms of components.

Based on the deployment, the market is classified as on-premise and cloud. The cloud category is estimated to have the highest CAGR throughout the projection period. The expansion is the result of a rise in demand for applications that can securely store data.

Based on the enterprise size, the cybersecurity market is divided into small and medium-sized enterprises (SMEs) and large businesses. The CAGR for small and medium-sized firms (SMEs) is predicted to be the highest.

Increased demand for endpoint security solutions among various e-commerce enterprises, notably those in the retail and financial sectors, is the cause of this growth.

Based on the industry, the market is segmented into several sectors, such as BFSI, IT and telecommunications, retail, government, manufacturing, travel and transportation, healthcare, energy and utilities, and other sectors. BFSI is predicted to expand with the highest CAGR of all the sectors during the forecasted period.

Regional Classification

The Global Cybersecurity Market has been divided into five regions: North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.

North America is anticipated to account for the highest market share for cybersecurity over the forecasted time frame. The surge in high-level security breaches is driving demand for cloud application security solutions in the region. The growth of online e-commerce platforms in countries like the United States and Canada has accelerated market expansion.

Asia-Pacific is anticipated to exhibit the fastest CAGR growth over the forecast period because of the region's high endpoint device density and expanding data center construction.

Industry News

Some of the key market players are IBM Corporation, ProofPoint Inc., Symantec Corporation, FireEye Inc., Check Point Software Technologies Ltd, Cisco Systems, Inc., Imperva Inc., Trend Micro Inc., Dell Technologies Inc., Cyber Ark Software Ltd, Fortinet, Rapid7 Inc., and Intel Corporation.

These market participants are putting money into R&D and employing marketing techniques such as joint ventures, acquisitions, product launches, and developments to broaden their market reach and client base.

In 2021, IBM Security presented its most recent and updated services to aid organizations in managing their cloud security strategy, standards, and controls in hybrid cloud settings.

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https://jayprakashmrfr.blogspot.com/2022/12/managed-security-services-market-is.html 

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