The global cybersecurity market size was US$ 125.1 billion in 2021. The global cybersecurity market is forecast to grow to US$ 299.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 10.1% during the forecast period from 2022 to 2030. 

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Factors Influencing the Market

Cybersecurity solutions are essential for any organization to detect, monitor, counter, and report cyber threats. Thus, the growing volume of online data will drive the cybersecurity market forward.

The rising deployment of cloud-based platforms will contribute to the growth of the cybersecurity market. Furthermore, the growing trend of IoT, BYOD, Artificial Intelligence, and Machine Learning will bring ample growth opportunities for the cybersecurity market.

Growing cases of cybercrimes will propel the global cybersecurity market forward throughout the forecast period. Furthermore, a growing number of product launches and partnerships will escalate the cybersecurity market growth. For instance, Check Point Software Technologies announced that the company is funding in enhancing the local geofenced cloud capabilities in India. Furthermore, NASSCOM and AICTE inked a pact with Cisco in February 2021. The partnership aims to introduce a virtual internship program focusing on cybersecurity in India.

The lack of cybersecurity professionals may restrict the growth of the global cybersecurity market during the study period.

COVID-19 Impact Analysis

The COVID-19 pandemic emerged as a beneficial opportunity for the global cybersecurity market growth. Due to the pandemic, the demand for cybersecurity services surged in order to prevent organizations from data theft. In addition, the sudden hike in the volume of online data of significant shift towards online operations has contributed to the growth of the global cybersecurity market.

Regional Analysis

The Asia-Pacific cybersecurity market is forecast to grow at the fastest rate, owing to the growing cases of cyberthreats and favorable policies by governments. Growing cyberattacks in China have prompted the government to boost its defensive capabilities. In addition, the surging online data and growing deployment of cloud-based platforms will contribute to the growth of the global cybersecurity market during the forecast period.

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Competitors in the Market

• IBM Corporation


• Microsoft


• BAE Systems, Inc.


• Check Point Software Technology Ltd.


• F5 Networks, EMC Corporation


• FireEye, Inc.


• Proofpoint Inc.


• Sophos PLC


• Fortinet, Inc.


• Cisco Systems Inc.


• Symantec Corporation


• Juniper Networks


• Palo Alto Networks, Inc.


• Qualys Inc


• Other Prominent Players

The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.

As of the end of 2022, the Cybersecurity industry experienced notable growth in its workforce. Starting in January, employment within the Cybersecurity sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Cybersecurity output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.

Forecasts indicate that the global Cybersecurity output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Cybersecurity market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Cybersecurity market.

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Market Segmentation

The global cybersecurity market segmentation focuses on Components, Security, Deployment, End-Use, and Region.

By Components

• Solution
  
  
  
  • Threat Intelligence
  
  
  • Encryption
  
  
  • Data Breaching
  
  
  • Unified Threat Management
  
  
  • Firewall Security
  
  
  • IDP/IDS
  
  
  • Disaster Recovery
  
  
  • Distributed Denial of Service
  
  
  • Others
  
  
  
  


• Services
  
  
  
  • Design and Integration
  
  
  • Risk and Threat Assessments
  
  
  • Support and Maintenance
  
  
  • Others
  
  
  
  

By Security Type

• Network Security


• Cloud Security


• Others

By Deployment

• Cloud-based


• On-premises

By End-Use Industries

• BFSI


• Medical


• Telecom


• Manufacturing


• Transportation


• Others

By Region

• North America


• The U.S.


• Canada


• Mexico


• Europe


• Western Europe


• The UK


• Germany


• France


• Italy


• Spain


• Rest of Western Europe


• Eastern Europe


• Poland


• Russia


• Rest of Eastern Europe


• Asia Pacific


• China


• India


• Japan


• Australia & New Zealand


• ASEAN


• Rest of Asia Pacific


• Middle East & Africa (MEA)


• UAE


• Saudi Arabia


• South Africa


• Rest of MEA


• South America


• Brazil


• Argentina


• Rest of South America

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Reasons to Acquire This Report

(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.

(B) The report delivers a comprehensive analysis of global, regional, and country-level Cybersecurity market revenues, extending projections until 2030. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.

(C) Through meticulous segmentation of the Cybersecurity market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.

(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.

(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.

(F) The study facilitates the assessment of Cybersecurity business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.

Why is our study consequential?

Our study holds paramount importance for various reasons, a few of which include:

• Assisting businesses in gauging the viability of new or existing products or services.

• Facilitating business enterprises in the identification and cultivation of novel market segments.

• Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.

• Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.

• Analyzing market trends to aid businesses in devising adaptive strategies.

• Guiding businesses in the optimal placement of their products.

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