New York, NY, Nov. 09, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Cyber Security Market (Network Security, Cloud Security, Wireless Security, and Others), By Solution (Identity and Access Management (IAM), Encryption, Risk and Compliance Management, Data Loss Prevention, Antivirus And Antimalware, Firewall And Others), By Vertical (Aerospace, Government, Financial Services, Telecommunication, Healthcare And Others): Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021”. According to the report, global cyber security market was valued at USD 105.45 billion in 2015, is expected to reach USD 181.77 billion in 2021 and is anticipated to grow at a CAGR of 9.5% between 2016 and 2021.
Internet security or cyber security is a branch of computer security specifically related to the internet. The Internet has given rise to new opportunities almost in every field such as business, sports, education or entertainment and many others. However, the internet has its own drawbacks like cyber crime, where the computer used for various types of thefts and crime. Various types of cyber crimes include hacking, software piracy, denial of service attack, and cyber terrorism. The purpose of cyber security is to establish rules and measures to use against cyber crimes over the internet.
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Cyber security referred to the processes and technologies designed to safeguard, computers and data from cyber crime. Governments, military, financial organizations, hospitals, and several other industries gather and store or transmit a large amount of confidential data on computers. In order to protect this information or data, cyber security becomes essential.
The cyber security market has shown exponential growth in the past few years. The major driving factor for the global cyber security market is increasing the stringency of government regulations and growing cyber threats. Demand for integrated cyber solutions is another key factor anticipated to drive the market growth in the years to come. Furthermore, the rising severity of cyber-crimes, the popularity of cloud security, rapid adoption of cloud computing, data center, and wireless communication are expected to boost the cyber security market in the near future. However, lack of effective defense major is expected to hamper the market growth. Growing demand for cyber security products and services is expected to open up new growth opportunities in the forecast period.
Based on security types, the global cyber security market is segmented into network security, cloud security, wireless security, and others. Among all, network security was the leading type segment of the global cyber security market. It accounted more than 40% shares of the overall market in 2015. On the basis of solution cyber security market is classified into identity and access management (IAM), encryption, risk and compliance management, data loss prevention, antivirus and antimalware, firewall and others. Based on vertical of cyber security, the market is segmented into categories such as aerospace, government, financial services, telecommunication, healthcare, and others.
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North America dominated the cyber security market in 2015, which was mainly contributed by the rapid adoption of cloud computing, strict rules by the government and emerging possible cyber threats. The U.S. accounted for maximum share in the cyber security solutions and services market in 2015. The U.S. is the leading market in this region as it acquired more than 80% share in the cyber security market. Cyber security market in North America will grow at a moderate rate in the upcoming years.
Europe was the second leading player in the cyber security market in 2015, owing to rising number of mobile workforce, adoption of cloud-based services and broad opportunity for cyber vendors in the market. Europe is expected to remain relatively stable over the forecast period.
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Asia Pacific market is expected to show rapid growth, primarily due to an increase in cyber crime and demand for cyber security solutions and products in emerging economies in this regions. Asia Pacific region is expected to grow at the highest rate in the near future.
Latin America expected to be the future market for cyber security. It expected to show huge development in the next five years. Brazil is seen as the most potential business sector in Latin America for cyber security market. Latin America shows a promising growth for cyber security market.
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The Middle East is witnessing significant growth in cyber security market due to growing market opportunities in industries such as financial, healthcare, and banking. With the speedy economic growth and increasing risk of cyber crimes, many industries in the Middle East countries have started to recognize the need for cyber security system. This develops healthy demand for cyber security systems among the organizations in this region.
Some of the key players involved in global cyber security market include Symantec, IBM, McAfee, Northrop Grumman, and Booz Allen Hamilton, CSC among others.
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The report segments the global cyber security market as:
Cyber Security Market: Security Type Analysis
- Network Security
- Cloud Security
- Wireless Security
- Others
Cyber Security Market: Solution Segment Analysis
- Identity And Access Management (IAM)
- Encryption
- Risk And Compliance Management
- Data Loss Prevention
- Antivirus And Antimalware
- Firewall And
- Others
Cyber Security Market: Vertical Segment Analysis
- Aerospace
- Government
- Financial Services
- Telecommunication
- Healthcare
- Others
Cyber Security Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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