Dublin, Sept. 22, 2022 (GLOBE NEWSWIRE) -- The "Cyber Security Market by Component (Software, Hardware, and Services), Software (IAM, Encryption and Tokenization, and Other Software), Security Type, Deployment Mode, Organization Size, Vertical and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global cyber security market size is expected to grow from an estimated value of USD 173.5 billion in 2022 to USD 266.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 8.9% from 2022 to 2027.
The increased number of data breaches across the globe, the ability of malicious actors to operate from anywhere in the world, the linkages between cyberspace and physical systems, and the difficulty of reducing vulnerabilities and consequences in complex cyber networks are some factors which are driving the cyber security market growth. However, the lack of cyber security professionals and the lack of budget constraints among SMEs and start-ups in developing economies are expected to hinder the market growth.
By Organization size, SMEs to grow at the highest CAGR during the forecasted period
Small and medium-sized businesses (SMEs) from a variety of industries are going through a digital transformation and using cloud computing to streamline operations, increase mobility, get rid of on-premises technology, and save costs. To protect their online applications and Application Programming Interfaces (APIs) against unwanted access, vulnerabilities, and attacks, SMEs are using cybersecurity solutions and services. Cybercriminals use automated techniques to attack SMEs' networks in order to take advantage of their weak security infrastructures.
Therefore, in order to save money, time, and resources, SMEs are seeking cyber security solutions. Additionally, governments are acting to safeguard SMEs in their own nations. But significant problems including operational activity budget restrictions, a lack of capital funding, and a shortage of qualified workers are anticipated to impede market expansion for SMEs in developing nations.
SMEs are vulnerable to new security problems as they implement digitalization at an increasing rate. As a result, the IT departments of SMEs make investments in implementing cyber security solutions. Thus, the SMEs are to grow at the highest CAGR during the forecasted period.
By Vertical, the aerospace and defence vertical account for a larger market size during the forecasted period
The civil and military aerospace and defence procurements are included in the aerospace and defence verticals. The rate of growth of security risks in the aerospace and defence sectors is alarming. This vertical is intended to harvest extremely sensitive and confidential data from important sectors, such as the government, prime contractors, and suppliers. Big data and increased digitization in nearly every element of the armed forces raise the likelihood of cybercriminal attacks.
The use of IT and telecommunications tools like RADARs and encryption-based wireless technologies for secure communication are the main drivers, and they will assist in expanding the markets. Additionally, the sector is undergoing a significant digital change, which has increased the need for cyber security services and solutions. Thus the aerospace and defence vertical accounts for a larger market share during the forecasted period.
By Organization size, large enterprises to grow at the highest market size during the forecasted period
Large enterprises and SMEs may protect themselves with the help of cyber security solutions from cyberattacks that aim to breach and undermine their IT infrastructure. For the purpose of protecting their critical assets, large organizations throughout the world continue to implement cyber security solutions at a rapid rate.
In order to include security solutions and services for defending vital assets from cyberattacks, large organisations are redesigning their security policies and architecture. To protect networks, endpoints, data centres, devices, users, and applications against unauthorised use and harmful ransomware attacks, they heavily rely on cyber security.
Large businesses are increasingly using access management tools to enable privileged access to servers and online applications, which promotes market expansion. Large enterprises are more likely to employ cyber security solutions as a result of huge budgets implementing top-notch security solutions and the strong demand for real-time auditing and monitoring of the growing IoT traffic. Thus large enterprises are to have the highest market growth during the forecasted period.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Market
4.2 Market, by Component, 2022
4.3 Market, by Software, 2022-2027
4.4 Market, by Security Type, 2022-2027
4.5 Cybersecurity Market, by Vertical, 2022-2027
4.6 Market, by Region, 2022-2027
4.7 Market Investment Scenario
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increased Target-Based Cyber-Attacks to Draw Operational Disruptions
5.2.1.2 Cybersecurity Mesh Architecture (Csma) to Simplify Security Infrastructure
5.2.1.3 Growing Demand for Cyber-Savvy Boards
5.2.2 Restraints
5.2.2.1 Lack of Cybersecurity Professionals
5.2.2.2 Lack of Budget Among Smes and Start-Ups in Developing Economies
5.2.3 Opportunities
5.2.3.1 IoT Security to Play a Vital Role in Cybersecurity Market
5.2.3.2 Adoption of Cloud-Based Cybersecurity Solutions Among Smes
5.2.3.3 Growth of Endpoint Security Segment due to Increased Byod Trend
5.2.4 Challenges
5.2.4.1 Challenges in Deploying and Implementing Cybersecurity Design Solutions
5.2.4.2 Diverse Nature of Sophisticated Threats
5.2.4.3 Difficulties in Addressing Complexity of Advanced Threats
5.3 Ecosystem
5.4 Technology Analysis
5.4.1 Ai/Ml and Cybersecurity
5.4.2 Deep Learning and Cybersecurity
5.4.3 User and Entity Behavior Analytics and Cybersecurity
5.4.4 Tokenization and Cybersecurity
5.4.5 Internet of Things and Cybersecurity
5.5 Regulatory Implications
5.5.1 General Data Protection Regulation
5.5.2 Federal Information Security Management Act
5.5.3 Payment Card Industry Data Security Standard
5.5.4 Sarbanes-Oxley Act
5.5.5 Soc2
5.5.6 Health Insurance Portability and Accountability Act (Hipaa)
5.5.7 Gramm-Leach-Bliley Act
5.5.8 Regulatory Bodies, Government Agencies, and Other Organizations
5.6 Patent Analysis
5.7 Value Chain
5.8 Porter's Five Forces Model Analysis
5.9 Use Cases
5.9.1 Use Case 1: F5 Helped Asian Paints Enhance Its Customer Experience and Drive Scalability
5.9.2 Use Case 2: Trend Micro Helped Bandhan Bank Eliminate Security Gaps
5.9.3 Use Case 3: Algosec Helped Ncr Corporation Achieve Zero Trust Security
5.9.4 Use Case 4: Imperva Helped Tower Get Real-Time Website Visibility
5.10 Pricing Analysis
5.11 Trends and Disruptions Impacting Customers
5.12 Key Stakeholders and Buying Criteria
5.13 Key Conferences and Events in 2022-2023
6 Cybersecurity Market, by Component
6.1 Introduction
6.2 Hardware
6.2.1 Hardware: Market Drivers
6.3 Software
6.3.1 Software: Market Drivers
6.4 Services
6.4.1 Services: Market Drivers
7 Cybersecurity Market, by Software
7.1 Introduction
7.2 Iam
7.2.1 Iam: Market Drivers
7.3 Antivirus/Antimalware
7.3.1 Antivirus/Antimalware: Market Drivers
7.4 Log Management and Siem
7.4.1 Log Management and Siem: Market Drivers
7.5 Firewall
7.5.1 Firewall: Cybersecurity Market Drivers
7.6 Encryption and Tokenization
7.6.1 Encryption and Tokenization: Market Drivers
7.7 Compliance and Policy Management
7.7.1 Compliance and Policy Management: Market Drivers
7.8 Patch Management
7.8.1 Patch Management: Market Drivers
7.9 Other Software
8 Cybersecurity Market, by Service
8.1 Introduction
8.2 Professional Services
8.2.1 Professional Services: Market Drivers
8.2.2 Design, Consulting, and Implementation
8.2.3 Risk and Threat Management
8.2.4 Training and Education
8.2.5 Support and Maintenance
8.3 Managed Services
8.3.1 Managed Services: Market Drivers
9 Cybersecurity Market, by Security Type
9.1 Introduction
9.2 Network Security
9.2.1 Network Security: Market Drivers
9.3 Cloud Security
9.3.1 Cloud Security: Market Drivers
9.4 Application Security
9.4.1 Application Security: Cyber Security Market Drivers
9.5 Endpoint and IoT Security
9.5.1 Endpoint and IoT Security: Market Drivers
10 Cybersecurity Market, by Deployment Mode
10.1 Introduction
10.2 Cloud
10.2.1 Cloud: Market Drivers
10.3 On-Premises
10.3.1 On-Premises: Market Drivers
11 Cybersecurity Market, by Organization Size
11.1 Introduction
11.2 Small and Medium-Sized Enterprises
11.2.1 Small and Medium-Sized Enterprises: Market Drivers
11.3 Large Enterprises
11.3.1 Large Enterprises: Market Drivers
12 Cybersecurity Market, by Vertical
12.1 Introduction
12.2 Aerospace and Defense
12.2.1 Aerospace and Defense: Cyber Security Market Drivers
12.3 Bfsi
12.3.1 Bfsi: Market Drivers
12.4 It and Ites
12.4.1 It and Ites: Market Drivers
12.5 Healthcare
12.5.1 Healthcare: Cybersecurity Market Drivers
12.6 Retail and Ecommerce
12.6.1 Retail and Ecommerce: Market Drivers
12.7 Manufacturing
12.7.1 Manufacturing: Market Drivers
12.8 Energy and Utilities
12.8.1 Energy and Utilities: Cyber Security Market Drivers
12.9 Telecommunication
12.9.1 Telecommunication: Market Drivers
12.10 Transportation and Logistics
12.10.1 Transportation and Logistics: Cybersecurity Market Drivers
12.11 Media and Entertainment
12.11.1 Media and Entertainment: Market Drivers
12.12 Other Verticals
13 Cybersecurity Market, by Region
14 Competitive Landscape
15 Company Profiles
15.1 Key Players
15.1.1 Ibm
15.1.2 Cisco
15.1.3 Microsoft
15.1.4 Palo Alto Networks
15.1.5 Fortinet
15.1.6 Check Point
15.1.7 Trellix
15.1.8 Trend Micro
15.1.9 Nortonlifelock
15.1.10 Rapid7
15.1.11 Micro Focus
15.1.12 Amazon Web Services
15.1.13 Oracle
15.1.14 Accenture
15.1.15 Cyberark
15.1.16 Sentinelone
15.1.17 Qualys
15.1.18 F-Secure
15.1.19 F5
15.2 Other Key Players
15.2.1 Rsa Security
15.2.2 Sophos
15.2.3 Forcepoint
15.2.4 Imperva
15.2.5 Proofpoint
15.2.6 Juniper Networks
15.2.7 Splunk
15.2.8 Sonicwall
15.2.9 Zscaler
15.3 Smes/Startup Players
15.3.1 Algosec
15.3.2 Cynet
15.3.3 Nozomi Networks
15.3.4 Datavisor
15.3.5 Revbits
15.3.6 Wijungle
15.3.7 Bluvector
15.3.8 Aristi Labs
15.3.9 Securden
16 Adjacent Markets
17 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/yuxvvi
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