Cybersecurity Market to Cross USD 431.36 Billion by 2030 as Growing Threat Landscape Has Increased the Need for Robust Cybersecurity Solutions | Research by SNS Insider

As the number and complexity of cyber-attacks continue to rise, organizations are investing more in cybersecurity solutions to protect their systems and data, Says SNS Insider research.


Pune, April 05, 2023 (GLOBE NEWSWIRE) -- The Cybersecurity Market was valued at USD 227.93 billion in 2022, and it is projected to attain USD 431.36 billion by 2030, with an estimated compound annual growth rate (CAGR) of 8.3% during the forecast period from 2023 to 2030, as per SNS Insider.

Market Overview

As the world becomes increasingly digital, the importance of cybersecurity continues to grow. Cyber-attacks can cause significant financial and reputational damage to organizations, and even lead to legal and regulatory issues. Therefore, investing in cybersecurity solutions is essential for organizations of all sizes to protect their critical assets and maintain the trust of their customers and stakeholders.

Market Analysis

The emergence of M2M/IoT connections has fueled the growth of the cybersecurity market. The adoption of IoT devices has increased significantly in recent years, with connected cars, machines, meters, wearables, and consumer electronics becoming more prevalent. However, with the increased connectivity of these devices comes an increased risk of cyber-attacks. Therefore, businesses are investing in cybersecurity solutions that can secure IoT networks and protect sensitive data transmitted between devices. The reduction of device costs has also contributed to the growth of the market, as it has made IoT devices more accessible to businesses of all sizes. The increased adoption of IoT devices has resulted in a higher number of connected devices, making it necessary for businesses to invest in cybersecurity solutions that can protect their networks and devices from cyber threats.

Get a Sample Report of Cybersecurity Market@ https://www.snsinsider.com/sample-request/1242

Key Company Profiles Listed in this Report Are:

The Key Players are IBM, Cisco, Check Point, FireEye, Trend Micro, Norton LifeLock, Rapid7, Micro Focus, Microsoft, Amazon Web Services,  Oracle,  Fortinet, Palo Alto Networks, Accenture, McAfee & more

Impact of Russia-Ukraine Conflict

The Russia-Ukraine conflict has both positive and negative implications for the cybersecurity market. While it has led to an increase in demand for cybersecurity solutions, it has also created new challenges and risks that cybersecurity companies will need to navigate in order to maintain their operations and continue to grow.

Key Regional Developments

The Asia Pacific region is poised to lead the global cybersecurity market due to the high deployment of cloud technologies, the proliferation of IoT devices, the increasing number of data center constructions, and the active support by companies and governments to implement data security and IoT security frameworks. With the growing threat of cyberattacks and data breaches, the demand for cybersecurity solutions is set to increase exponentially in the region, creating significant opportunities for cybersecurity vendors and service providers. Additionally, the region has a thriving startup ecosystem, with numerous innovative cybersecurity startups developing cutting-edge solutions to address emerging threats.

Cybersecurity Market Report Scope:

Report Attributes  Details
Market Size in 2022  USD 227.93 Bn
Market Size by 2030  USD 431.36 Bn
CAGR   CAGR of 8.3% From 2023 to 2030
Base Year  2022
Forecast Period  2023-2030
Historical Data  2020-2021
Cybersecurity Market: Key Segmentation • by Component (Solution and Service)
• by Solution (Identity & Access Management, Infrastructure Security, Governance Risk & Compliance, Unified Vulnerability Management Service Offering, Data Security & Privacy Service Offering, and Others)
• by Deployment Model (Cloud and On-Premise)
• by Enterprise Size (Large Enterprises and SMEs)
• by Industry Vertical (Telecom, Automotive, BFSI, Public Sector, Retail, Healthcare, IT, Energy & Utilities, Manufacturing, and Others)
• by Software (APT, Threat Intelligence Platform, SIEM, Security and Vulnerability Management, Network Access Control, Antivirus/Antimalware, Firewall, Secure Web Gateway, SOAR, IAM, Encryption, Disaster Recovery, IDS/IPS, Risk and Compliance Management, Others)
Key Regional Coverage North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)

Do you have any specific queries related to this research? Ask you Query or Ask for Customization@ https://www.snsinsider.com/enquiry/1242

Key Takeaway from Cybersecurity Market Study

  • The identity & access management segment is expected to play a critical role in the market in the coming years. As businesses continue to invest in cybersecurity, IAM solutions are likely to capture a significant share of the market, driven by their ability to improve security, increase productivity, and reduce costs.
  • The service segment is expected to dominate the market in the coming years. As businesses continue to face growing cybersecurity threats and the need for regulatory compliance, the demand for cybersecurity services is expected to remain strong.

Recent Developments Related to Cybersecurity Market

  • The iliad Group, a leading French telecommunications company, recently announced that it has acquired a majority stake in ITrust, France's top cybersecurity specialist. This acquisition is part of iliad's strategy to strengthen its position in the market and expand its portfolio of services. Through this acquisition, iliad aims to enhance its cybersecurity offerings and provide its customers with comprehensive security solutions.
  • Guardz, a leading provider of cybersecurity solutions, has recently announced the launch of its latest platform designed specifically for Managed Service Providers (MSPs). The new platform aims to provide MSPs with an advanced cybersecurity solution that is easy to deploy and manage, while also offering comprehensive protection against cyber threats.

Table of Contents

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7.  PEST Analysis

8. Cyber Security Market Segmentation, By Component

9. Cyber Security Market Segmentation, By Software

10. Cyber Security Market Segmentation, By Security Type

11. Cyber Security Market Segmentation, By Deployment Type

12. Cyber Security Market Segmentation, By Organization Size

13. Cyber Security Market Segmentation, By Verticals

14. Regional Analysis

15. Company Profiles

16. Competitive Landscape

17. Conclusion

Buy Single-User PDF of Cyber Security Market Research Report@ https://www.snsinsider.com/checkout/1242

About Us:

SNS Insider is one of the leading market research and consulting agencies that dominate the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

Access Complete Report Details@ https://www.snsinsider.com/reports/cybersecurity-market-1242

 

Contact Data